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Japan Solar Energy Market by End-user and Application - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 98
  • SKU: IRTNTR72718
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The solar energy market share in Japan is expected to increase by 505.28 terawatt-hour from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.78%.

This solar energy market in Japan research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers solar energy market in Japan segmentations by end-user (utility and rooftop) and application (grid-connected and off-grid). The solar energy market in Japan report also offers information on several market vendors, including Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., E Solar, First Solar Inc., Kaneka Corp., Shunfeng International Clean Energy Co. Ltd., SunPower Corp., and Tata Power Co. Ltd. among others.

What will the Solar Energy Market Size in Japan be During the Forecast Period?

Japan Solar Energy Market Size

Download the Free Report Sample to Unlock the Solar Energy Market Size in Japan for the Forecast Period and Other Important Statistics

"One of the key factors driving the Argentina solar energy market growth is the increasing demand for electricity."

Solar Energy Market in Japan: Key Drivers, Trends, and Challenges

The high electricity demand is notably driving the solar energy market growth in Japan, although factors such as the rising adoption of alternate renewable sources may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the solar energy industry in Japan. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Solar Energy Market Driver in Japan

The high electricity demand is one of the key drivers supporting the solar energy market growth in Japan. The households sector showed an increase in energy consumption year-on-year due to the increased time spent at home because of COVID-19 in 2020 and other impacts. Japan's power sector has recorded rising sales by small-scale power retailers over the past five years. The marginal rise, despite the expanding market share, shows that the country's retailers increased direct purchases from power generators to ensure stable supplies in response to government recommendations for preventive measures to avoid power shortages. These increased demands contribute to the adoption of solar energy, which is likely to continue during the forecast period. 

Key Solar Energy Market Trend in Japan

The increase in solar PV installations is one of the key trends contributing to the solar energy market growth in Japan. For instance, the new aim was announced by Japan's environment and trade ministries, after the announcement that the country would cut emissions by 46% by 2030 when compared to 2013 levels. Japan aims to hit the target by installing solar panels on 50% of central government and municipality buildings, adding 6GW of capacity, boosting solar on corporate buildings and car parks, which will add 10GW, and adding 4GW in public land and promotion areas in 1,000 Japanese towns and cities. Thus, the Japanese government intends to increase the amount of land available for solar projects while also investing in technology that will make agricultural solar farms easier to implement. Such initiatives will drive market growth during the forecast period.

Key Solar Energy Market Challenge in Japan

The rising adoption of alternate renewable sources is one of the factors hindering the solar energy market growth in Japan. Japan is one of the countries with the most abundant geothermal resources. Geothermal district heating systems might be developed in Japan's snowy regions from Hokkaido to the west coast of Honshu, similar to Iceland, where more than 90% of all homes are heated with geothermal hot water and generate power using Japanese geothermal technology. For instance, in southern Iceland, the Blue Lagoon is a geothermal spa. The spa is situated in a lava field on the Reykjanes Peninsula, in a geothermal power-friendly area, and is fed by water from the nearby Svartsengi geothermal power plant. Thus, the increasing use of alternate renewable resources will decline the demand for solar energy and thereby, hampering the market growth.

This solar energy market in Japan analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the solar energy market in Japan as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the solar energy market in Japan during the forecast period.

Who are the Major Solar Energy Market Vendors in Japan?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Abengoa SA
  • Acciona SA
  • BrightSource Energy Inc.
  • Canadian Solar Inc.
  • E Solar
  • First Solar Inc.
  • Kaneka Corp.
  • Shunfeng International Clean Energy Co. Ltd.
  • SunPower Corp.
  • Tata Power Co. Ltd.

 

This statistical study of the solar energy market in Japan encompasses successful business strategies deployed by the key vendors. The solar energy market in Japan is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Abengoa SA - The company is involved in offering solar energy which uses the heat of the sun to produce large scale clean electricity to the grid when it is demanded even in hours without sunlight.
  • Acciona SA - The company is involved in offering solar energy through the photovoltaic segment with greater efficiency and contributes to reducing the carbon footprint of leading companies in wide range of sectors.
  • BrightSource Energy Inc. - The company is involved in offering wind and solar photovoltaic in order to produce high efficient renewable energy which delivers clean, reliable and cost competitive option to users.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The solar energy market in Japan forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Solar Energy Market in Japan Value Chain Analysis

Our report provides extensive information on the value chain analysis for the solar energy market in Japan, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the renewable electricity market  includes the following core components:

  • Inputs
  • Electricity generation
  • Electricity transmission
  • Electricity distribution
  • End-users
  • Innovations

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

What are the Revenue-generating End-user Segments in the Solar Energy Market in Japan?

Japan Solar Energy Market Market segmentation by region

To gain further insights on the market contribution of various segments Request for a FREE sample

The solar energy market share growth in Japan by the utility segment will be significant during the forecast period. For decades, utility-scale solar has provided consistent, clean electricity at a low cost. One of the quickest ways to reduce carbon emissions and put Japan on the path to a clean energy future is to develop utility-scale solar power. Solar technologies such as primary PV and CSP can be used in a utility-scale solar power plant. Moreover, many utility-scale solar systems can feature energy storage capacity, which delivers power when the sun is not shining while simultaneously increasing grid dependability and resiliency. Such factors will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar energy market size in Japan and actionable market insights on post COVID-19 impact on each segment.

 

Solar Energy Market Scope in Japan

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 29.78%

Market growth 2022-2026

505.28 TWh

Market structure

Fragmented

YoY growth (%)

27.81

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., E Solar, First Solar Inc., Kaneka Corp., Shunfeng International Clean Energy Co. Ltd., SunPower Corp., and Tata Power Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Solar Energy Market in Japan Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive solar energy market growth in Japan during the next five years
  • Precise estimation of the solar energy market size in Japan and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar energy industry in Japan  
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of solar energy market vendors in Japan 

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
  • 2.2 Value chain analysis
    • Exhibit 02: Market characteristics
    • Exhibit 03: Value Chain Analysis: Renewable Electricity

3 Market Sizing

  • 3.1 Market definition
    • 3.2 Market segment analysis
      • Exhibit 04: Offerings of vendors included in the market definition
    • 3.3 Market size 2021
      • Exhibit 05: Market segments
    • 3.4 Market outlook: Forecast for 2021 - 2026
      • Exhibit 06: Global - Market size and forecast 2021 - 2026 (TWh)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2021 & 2026
      • 4.2 Bargaining power of buyers
        • Exhibit 08: Five forces analysis 2021 & 2026
      • 4.3 Bargaining power of suppliers
        • Exhibit 09: Bargaining power of buyers
      • 4.4 Threat of new entrants
        • Exhibit 10: Bargaining power of suppliers
      • 4.5 Threat of substitutes
        • Exhibit 11: Threat of new entrants
      • 4.6 Threat of rivalry
        • Exhibit 12: Threat of substitutes
      • 4.7 Market condition
        • Exhibit 13: Threat of rivalry

      5 Market Segmentation by Application

      • 5.1 Market segments
        • 5.2 Comparison by Application
          • Exhibit 15: Application - Market share 2021-2026 (%)
        • 5.3 Grid-connected - Market size and forecast 2021-2026
          • Exhibit 16: Comparison by Application
          • Exhibit 17: Grid-connected - Market size and forecast 2021-2026 (TWh)
        • 5.4 Off-grid - Market size and forecast 2021-2026
          • Exhibit 18: Grid-connected - Year-over-year growth 2021-2026 (%)
          • Exhibit 19: Off-grid - Market size and forecast 2021-2026 (TWh)
        • 5.5 Market opportunity by Application
          • Exhibit 20: Off-grid - Year-over-year growth 2021-2026 (%)

        6 Market Segmentation by End-user

        • 6.1 Market segments
          • 6.2 Comparison by End-user
            • Exhibit 22: End-user - Market share 2021-2026 (%)
          • 6.3 Utility - Market size and forecast 2021-2026
            • Exhibit 23: Comparison by End-user
            • Exhibit 24: Utility - Market size and forecast 2021-2026 (TWh)
          • 6.4 Rooftop - Market size and forecast 2021-2026
            • Exhibit 25: Utility - Year-over-year growth 2021-2026 (%)
            • Exhibit 26: Rooftop - Market size and forecast 2021-2026 (TWh)
          • 6.5 Market opportunity by End-user
            • Exhibit 27: Rooftop - Year-over-year growth 2021-2026 (%)

          7 Customer landscape

          8 Drivers, Challenges, and Trends

          • 8.1 Market drivers
            • 8.2 Market challenges
              • 8.3 Market trends
                • Exhibit 30: Impact of drivers and challenges

              9 Vendor Landscape

              • 9.1 Overview
                • 9.2 Landscape disruption
                  • Exhibit 31: Vendor landscape
                  • Exhibit 32: Landscape disruption

                10 Vendor Analysis

                • 10.1 Vendors covered
                  • Exhibit 34: Vendors covered
                • 10.2 Market positioning of vendors
                  • 10.3 Abengoa SA
                    • Exhibit 35: Market positioning of vendors
                    • Exhibit 36: Abengoa SA - Overview
                    • Exhibit 37: Abengoa SA - Product and service
                  • 10.4 Acciona SA
                    • Exhibit 38: Abengoa SA - Key offerings
                    • Exhibit 39: Acciona SA - Overview
                    • Exhibit 40: Acciona SA - Business segments
                  • 10.5 BrightSource Energy Inc.
                    • Exhibit 41: Acciona SA - Key offerings
                    • Acciona SA - Segment focus
                    • Exhibit 42: BrightSource Energy Inc. - Overview
                    • Exhibit 43: BrightSource Energy Inc. - Product and service
                    • Exhibit 44: BrightSource Energy Inc. - Key offerings
                  • 10.6 Canadian Solar Inc.
                    • Exhibit 45: Canadian Solar Inc. - Overview
                    • Exhibit 46: Canadian Solar Inc. - Business segments
                  • 10.7 E Solar
                    • Exhibit 47: Canadian Solar Inc. - Key offerings
                    • Exhibit 48: Canadian Solar Inc. - Segment focus
                  • 10.8 First Solar Inc.
                    • Exhibit 49: E Solar - Overview
                    • Exhibit 50: E Solar - Product and service
                    • Exhibit 51: E Solar - Key offerings
                    • Exhibit 52: First Solar Inc. - Overview
                    • Exhibit 53: First Solar Inc. - Business segments
                    • Exhibit 54: First Solar Inc. - Key offerings
                  • 10.9 Kaneka Corp.
                    • Exhibit 55: First Solar Inc. - Segment focus
                  • 10.10 Shunfeng International Clean Energy Co. Ltd.
                    • Exhibit 56: Kaneka Corp. - Overview
                    • Exhibit 57: Kaneka Corp. - Product and service
                    • Exhibit 58: Kaneka Corp. - Key offerings
                    • Exhibit 59: Shunfeng International Clean Energy Co. Ltd. - Overview
                    • Exhibit 60: Shunfeng International Clean Energy Co. Ltd. - Business segments
                    • Exhibit 61: Shunfeng International Clean Energy Co. Ltd. - Key offerings
                  • 10.11 SunPower Corp.
                    • Exhibit 62: Shunfeng International Clean Energy Co. Ltd. - Segment focus
                  • 10.12 Tata Power Co. Ltd.
                    • Exhibit 63: SunPower Corp. - Overview
                    • Exhibit 64: SunPower Corp. - Product and service
                    • Exhibit 65: SunPower Corp. - Key offerings
                    • Exhibit 66: Tata Power Co. Ltd. - Overview
                    • Exhibit 67: Tata Power Co. Ltd. - Business segments

                  11 Appendix

                  • 11.1 Scope of the report
                    • 11.2 Currency conversion rates for US$
                      • 11.3 Research methodology
                        • Exhibit 70: Currency conversion rates for US$
                        • Exhibit 71: Research Methodology
                        • Exhibit 72: Validation techniques employed for market sizing
                      • 11.4 List of abbreviations
                        • Exhibit 73: Information sources
                        • Exhibit 74: List of abbreviations

                      Research Framework

                      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                      TechnavioINFORMATION SOURCES

                      Primary sources

                      • Manufacturers and suppliers
                      • Channel partners
                      • Industry experts
                      • Strategic decision makers

                      Secondary sources

                      • Industry journals and periodicals
                      • Government data
                      • Financial reports of key industry players
                      • Historical data
                      • Press releases
                      Technavio

                      TechnavioDATA ANALYSIS

                      Data Synthesis

                      • Collation of data
                      • Estimation of key figures
                      • Analysis of derived insights

                      Data Validation

                      • Triangulation with data models
                      • Reference against proprietary databases
                      • Corroboration with industry experts
                      Technavio

                      TechnavioREPORT WRITING

                      Qualitative

                      • Market drivers
                      • Market challenges
                      • Market trends
                      • Five forces analysis

                      Quantitative

                      • Market size and forecast
                      • Market segmentation
                      • Geographical insights
                      • Competitive landscape
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                      Solar Energy market growth will increase by $505.28 TWh during 2022-2026.
                      The solar energy market is expected to grow at a CAGR of 29.78% during 2022-2026.
                      Technavio has segmented the solar energy market by end user (Utility and Rooftop) ,application (Grid-connected and Off-grid) , and geographic (APAC).
                      Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., E Solar, First Solar Inc., Kaneka Corp., Shunfeng International Clean Energy Co. Ltd., SunPower Corp., Tata Power Co. Ltd. are a few of the key vendors in the solar energy market.
                      APAC will register the highest growth rate of 100% among the other regions. Therefore, the solar energy market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                      The key factors driving the solar energy market growth are:
                      • High electricity demand
                      • Increase in solar PV installations
                      The solar energy market vendors should focus on grabbing business opportunities from the utility segment as it accounted for the largest market share in the base year.
                      • What are the key global market and the regional market share?
                      • What are the revenue-generating key market segments?
                      • What are the key factors driving and challenging this market’s growth?
                      • Who are the key market vendors and their growth strategies?
                      • What are the latest trends influencing the growth of this market?
                      • What are the variables influencing the market growth in the primary regions?
                      • What are the factors influencing the growth of the parent market?
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