The Sunny Climatic Conditions Coupled with Scaling up Renewables in Transport to Boost Market Growth
NEW YORK, Feb. 14, 2022 /PRNewswire/ — The Solar Energy Market vendors in South Africa should focus on grabbing business opportunities from the Utility Segment as it accounted for the largest market share in the base year.
Technavio has announced its latest market research report titled Solar Energy Market in South Africa by End-user and Application – Forecast and Analysis 2022-2026
The Solar Energy Market Share in South Africa is expected to increase by 23.31 TWh from 2021 to 2026, at an accelerated CAGR of 29.74% according to the recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
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Solar Energy Market in South Africa Facts at a Glance-
Total Pages: 120
Companies: 10+ – Including ARTsolar Pty Ltd., Canadian Solar Inc., Enel SPA, ENGIE SA, IBC Solar AG, JinkoSolar Holding Co. Ltd., Renenergy South Africa Pty Ltd., Jiangsu Seraphim Solar System Co. Ltd., SunPower Corp., and Trina Solar Co. Ltd. among others
Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
Segments: End-user (utility and rooftop) and Application (grid-connected and off-grid)
Segmentation Analysis & Forecasts
The solar energy market share growth in South Africa by the utility segment will be significant during the forecast period. The growth is attributed to the huge number of installations of large-scale solar power plants to generate clean energy and reduce carbon emissions. Furthermore, it can also be stored in energy storage systems for using it when there is no sunlight. Such factors will drive the adoption of utility-scale solar power in the country during the forecast period.
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The solar energy market in South Africa is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
ARTsolar Pty Ltd.- The company manufactures crystalline solar panels. Moreover, the company also offers solar energy products under the brand name of Alpha.
Canadian Solar Inc.- The company operates under CSI Solar and Global Energy business segments. Moreover, the company also offers solar energy products under the brand name of BiHiKu7.
Enel SPA- The company operates under Thermal Generation and Trading, <…….