Solar Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global solar generator market size reached US$ 516.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 871 Million by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.
It refers to a photovoltaic (PV) system which produces electricity from photonic energy of the sunlight. There is a wide variety of solar generators available in the market in different sizes and capacities based on the consumer’s needs and requirements. Over time, the growing shortage of electricity across the globe and the consequent demand for power-backup has escalated the sales of solar generators. These generators do not emit noxious fumes like gas-powered generators and can power homes for as long as needed.
Solar generators are economical; require minimal cost investments and fuel for operation; generate zero pollution; and can store energy for future purposes. Owing to these factors, they are increasingly being used for the production and distribution of power across the globe. The imbalance between the supply of and demand for electricity, due to the rapid urbanization and a rise in population, has eventually led to power shortage across many regions where solar generators can play a vital role in reducing this scarcity. Furthermore, the market is influenced by the rising concerns about climate change, which have created awareness regarding the usage of renewable resources like solar, hydro and wind power. Owing to which, governments of various countries are encouraging investments in renewable resources by providing tax relaxations and incentives. These initiatives have reduced the prices of solar generators which, in turn, has boosted their sales.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solar generator market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on grid connectivity, and end user.
Breakup by Grid Connectivity:
Off-grid
On-grid
Currently, off-grid connectivity dominates the market, holding the largest share as it helps the users at the time of an emergency or power outage.
Breakup by End User:
Residential
Industrial
Commercial
Military
At present, the residential sector currently represents the largest end user segment. This can be accredited to the rising electricity prices and growing awareness among consumers about renewable energy sources.
Regional Insights:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
On a geographical front, North America enjoys the leading position in the market, accounting for the majority of the global market share.
Competitive Landscape:
Some of the leading players operating in the market are Goal Zero LLC, Hollandia Solar, Altern Limited, Jaspak Pte. Ltd., Sunvis Solar Co. Ltd., BioLite, Inc., Powerenz, Inc., SolSolutions LLC, SolaRover, Inc., SolarLine Group, and Voltaic Power Pvt. Ltd.
Key Questions Answered in This Report:
How has the global solar generator market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global solar generator market?
What are the various grid connectivity segments?
Who are the major end users?
What are the various stages in the value chain of the global solar generator market?
What are the key driving factors and challenges in the global solar generator market?
What is the structure of the global solar generator market and who are the key players?
What is the degree of competition in the global solar generator market?
How are solar generators manufactured?
The global solar generator market size reached US$ 516.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 871 Million by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.
It refers to a photovoltaic (PV) system which produces electricity from photonic energy of the sunlight. There is a wide variety of solar generators available in the market in different sizes and capacities based on the consumer’s needs and requirements. Over time, the growing shortage of electricity across the globe and the consequent demand for power-backup has escalated the sales of solar generators. These generators do not emit noxious fumes like gas-powered generators and can power homes for as long as needed.
Solar generators are economical; require minimal cost investments and fuel for operation; generate zero pollution; and can store energy for future purposes. Owing to these factors, they are increasingly being used for the production and distribution of power across the globe. The imbalance between the supply of and demand for electricity, due to the rapid urbanization and a rise in population, has eventually led to power shortage across many regions where solar generators can play a vital role in reducing this scarcity. Furthermore, the market is influenced by the rising concerns about climate change, which have created awareness regarding the usage of renewable resources like solar, hydro and wind power. Owing to which, governments of various countries are encouraging investments in renewable resources by providing tax relaxations and incentives. These initiatives have reduced the prices of solar generators which, in turn, has boosted their sales.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solar generator market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on grid connectivity, and end user.
Breakup by Grid Connectivity:
Off-grid
On-grid
Currently, off-grid connectivity dominates the market, holding the largest share as it helps the users at the time of an emergency or power outage.
Breakup by End User:
Residential
Industrial
Commercial
Military
At present, the residential sector currently represents the largest end user segment. This can be accredited to the rising electricity prices and growing awareness among consumers about renewable energy sources.
Regional Insights:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
On a geographical front, North America enjoys the leading position in the market, accounting for the majority of the global market share.
Competitive Landscape:
Some of the leading players operating in the market are Goal Zero LLC, Hollandia Solar, Altern Limited, Jaspak Pte. Ltd., Sunvis Solar Co. Ltd., BioLite, Inc., Powerenz, Inc., SolSolutions LLC, SolaRover, Inc., SolarLine Group, and Voltaic Power Pvt. Ltd.
Key Questions Answered in This Report:
How has the global solar generator market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global solar generator market?
What are the various grid connectivity segments?
Who are the major end users?
What are the various stages in the value chain of the global solar generator market?
What are the key driving factors and challenges in the global solar generator market?
What is the structure of the global solar generator market and who are the key players?
What is the degree of competition in the global solar generator market?
How are solar generators manufactured?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL SOLAR GENERATOR MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.5 Market Breakup by Grid Connectivity
5.6 Market Breakup by End-User
5.7 Market Breakup by Region
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.11 Porter’s Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
6 MARKET BREAKUP BY GRID CONNECTIVITY
6.1 Off-Grid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 On-Grid
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY END-USER
7.1 Residential
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Commercial
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Industrial
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Military
7.4.1 Market Trends
7.4.2 Market Forecast
8 MARKET BREAKUP BY REGION
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Asia Pacific
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SOLAR GENERATOR MANUFACTURING PROCESS
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 COMPETITIVE LANDSCAPE
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Goal Zero LLC
10.3.2 Hollandia Solar
10.3.3 Altern Limited
10.3.4 Jaspak Pte. Ltd.
10.3.5 Sunvis Solar Co. Ltd.
10.3.6 BioLite, Inc.
10.3.7 Powerenz, Inc.
10.3.8 SolSolutions LLC
10.3.9 SolaRover, Inc.
10.3.10 SolarLine Group
10.3.11 Voltaic Power Pvt. Ltd.
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL SOLAR GENERATOR MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.5 Market Breakup by Grid Connectivity
5.6 Market Breakup by End-User
5.7 Market Breakup by Region
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.11 Porter’s Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
6 MARKET BREAKUP BY GRID CONNECTIVITY
6.1 Off-Grid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 On-Grid
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY END-USER
7.1 Residential
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Commercial
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Industrial
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Military
7.4.1 Market Trends
7.4.2 Market Forecast
8 MARKET BREAKUP BY REGION
8.1 North America
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Asia Pacific
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SOLAR GENERATOR MANUFACTURING PROCESS
9.1 Product Overview
9.2 Raw Material Requirements
9.3 Manufacturing Process
9.4 Key Success and Risk Factors
10 COMPETITIVE LANDSCAPE
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
10.3.1 Goal Zero LLC
10.3.2 Hollandia Solar
10.3.3 Altern Limited
10.3.4 Jaspak Pte. Ltd.
10.3.5 Sunvis Solar Co. Ltd.
10.3.6 BioLite, Inc.
10.3.7 Powerenz, Inc.
10.3.8 SolSolutions LLC
10.3.9 SolaRover, Inc.
10.3.10 SolarLine Group
10.3.11 Voltaic Power Pvt. Ltd.
LIST OF TABLES
Table 1: Global: Solar Generator Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Solar Generator Market Forecast: Breakup by Grid Connectivity (in Million US$), 2023-2028
Table 3: Global: Solar Generator Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 4: Global: Solar Generator Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Solar Generator Manufacturing: Raw Material Requirements
Table 6: Global: Solar Generator Market: Competitive Structure
Table 7: Global: Solar Generator Market: Key Players
Table 1: Global: Solar Generator Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Solar Generator Market Forecast: Breakup by Grid Connectivity (in Million US$), 2023-2028
Table 3: Global: Solar Generator Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 4: Global: Solar Generator Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Solar Generator Manufacturing: Raw Material Requirements
Table 6: Global: Solar Generator Market: Competitive Structure
Table 7: Global: Solar Generator Market: Key Players
LIST OF FIGURES
Figure 1: Global: Solar Generator Market: Major Drivers and Challenges
Figure 2: Global: Solar Generator Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Solar Generator Market: Breakup by Grid Connectivity (in %), 2022
Figure 4: Global: Solar Generator Market: Breakup by End-User (in %), 2022
Figure 5: Global: Solar Generator Market: Breakup by Region (in %), 2022
Figure 6: Global: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 7: Solar Generator Market: Price Structure
Figure 8: Global: Solar Generator Industry: SWOT Analysis
Figure 9: Global: Solar Generator Industry: Value Chain Analysis
Figure 10: Global: Solar Generator Industry: Porter’s Five Forces Analysis
Figure 11: Global: Solar Generator (Off-Grid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Solar Generator (Off-Grid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Solar Generator (On-Grid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Solar Generator (On-Grid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Solar Generator (Residential Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Solar Generator (Residential Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Solar Generator (Commercial Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Solar Generator (Commercial Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Solar Generator (Industrial Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Solar Generator (Industrial Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Solar Generator (Military Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Solar Generator (Military Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: North America: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: North America: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Europe: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Europe: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Asia Pacific: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Asia Pacific: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Middle East and Africa: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Middle East and Africa: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Latin America: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Latin America: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Solar Generator Manufacturing: Process Flow
Figure 1: Global: Solar Generator Market: Major Drivers and Challenges
Figure 2: Global: Solar Generator Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Solar Generator Market: Breakup by Grid Connectivity (in %), 2022
Figure 4: Global: Solar Generator Market: Breakup by End-User (in %), 2022
Figure 5: Global: Solar Generator Market: Breakup by Region (in %), 2022
Figure 6: Global: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 7: Solar Generator Market: Price Structure
Figure 8: Global: Solar Generator Industry: SWOT Analysis
Figure 9: Global: Solar Generator Industry: Value Chain Analysis
Figure 10: Global: Solar Generator Industry: Porter’s Five Forces Analysis
Figure 11: Global: Solar Generator (Off-Grid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Solar Generator (Off-Grid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Solar Generator (On-Grid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Solar Generator (On-Grid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Solar Generator (Residential Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Solar Generator (Residential Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Solar Generator (Commercial Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Solar Generator (Commercial Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Solar Generator (Industrial Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Solar Generator (Industrial Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Solar Generator (Military Use) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Solar Generator (Military Use) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: North America: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: North America: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Europe: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Europe: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Asia Pacific: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Asia Pacific: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Middle East and Africa: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Middle East and Africa: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Latin America: Solar Generator Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Latin America: Solar Generator Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Solar Generator Manufacturing: Process Flow
