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

  • Published: Mar 2022
  • Pages: 120
  • 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?

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

 

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?

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

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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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 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

 

1. Executive Summary                         

                1.1 Market Overview

                                Exhibit 01:  Key Finding 1

                                Exhibit 02:  Key Finding 2

                                Exhibit 03:  Key Finding 5

                                Exhibit 04:  Key Finding 6

                                Exhibit 05:  Key Finding 7

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 06:  Parent market

                                Exhibit 07:  Market characteristics

                2.2 Value chain analysis           

                                Exhibit 08:  Value Chain Analysis: Renewable Electricity

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 09:  Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 10:  Market segments

                3.3 Market size 2021 

                3.4 Market outlook: Forecast for 2021 - 2026 

                                Exhibit 11:  Global - Market size and forecast 2021 - 2026 (TWh)

                                Exhibit 12:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 13:  Five forces analysis 2021 & 2026

                4.2 Bargaining power of buyers           

                                Exhibit 14:  Bargaining power of buyers

                4.3 Bargaining power of suppliers       

                                Exhibit 15: Bargaining power of suppliers

                4.4 Threat of new entrants    

                                Exhibit 16: Threat of new entrants

                4.5 Threat of substitutes         

                                Exhibit 17: Threat of substitutes

                4.6 Threat of rivalry   

                                Exhibit 18: Threat of rivalry

                4.7 Market condition

                                Exhibit 19:  Market condition - Five forces 2021

5 Market Segmentation by Application                         

                5.1 Market segments

                                Exhibit 20:  Application - Market share 2021-2026 (%)

                5.2 Comparison by Application             

                                Exhibit 21:  Comparison by Application

                5.3 Grid-connected - Market size and forecast 2021-2026          

                                Exhibit 22:  Grid-connected - Market size and forecast 2021-2026 (TWh)

                                Exhibit 23:  Grid-connected - Year-over-year growth 2021-2026 (%)

                5.4 Off-grid - Market size and forecast 2021-2026         

                                Exhibit 24:  Off-grid - Market size and forecast 2021-2026 (TWh)

                                Exhibit 25:  Off-grid - Year-over-year growth 2021-2026 (%)

                5.5 Market opportunity by Application              

                                Exhibit 26:  Market opportunity by Application

6.Market Segmentation by End-user                              

                6.1 Market segments

                                Exhibit 27:  End-user - Market share 2021-2026 (%)

                6.2 Comparison by End-user  

                                Exhibit 28:  Comparison by End-user

                6.3 Utility - Market size and forecast 2021-2026             

                                Exhibit 29:  Utility - Market size and forecast 2021-2026 (TWh)

                                Exhibit 30:  Utility - Year-over-year growth 2021-2026 (%)

                6.4 Rooftop - Market size and forecast 2021-2026         

                                Exhibit 31:  Rooftop - Market size and forecast 2021-2026 (TWh)

                                Exhibit 32:  Rooftop - Year-over-year growth 2021-2026 (%)

                6.5 Market opportunity by End-user  

                                Exhibit 33:  Market opportunity by End-user

7. Customer landscape                         

                7.1 Overview

                                Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                Exhibit 34: ?Customer landscape?

8. Drivers, Challenges, and Trends                   

                8.1 Market drivers     

                                8.1.1 High electricity demand

                                8.1.2 Increasing greenhouse gas emission and environmental concerns

                                8.1.3 Favorable government policies

                8.2 Market challenges              

                                8.2.1 High initial investment

                                8.2.2 Requirement of large installation area to set up solar farms

                                8.2.3 Rising adoption of alternate renewable sources

                                Exhibit 35:  Impact of drivers and challenges

                8.3 Market trends      

                                8.3.1 Increase in solar PV installations

                                8.3.2 Increasing developments in the implementation of renewable energy

                                8.3.3 Decline in prices of solar panels

9. Vendor Landscape                             

                9.1 Overview

                                Exhibit 36:  Vendor landscape

                9.2 Landscape disruption        

                                Exhibit 37: ?Landscape disruption?

                                Exhibit 38: Industry risks

10. Vendor Analysis               

                10.1 Vendors covered              

                                Exhibit 39: Vendors covered

                10.2 Market positioning of vendors    

                                Exhibit 40: ?Market positioning of vendors?

                10.3 Abengoa SA        

                                Exhibit 41:  Abengoa SA - Overview

                                Exhibit 42:  Abengoa SA - Product and service

                                Exhibit 43:  Abengoa SA - Key offerings

                10.4 Acciona SA          

                                Exhibit 44:  Acciona SA - Overview

                                Exhibit 45:  Acciona SA - Business segments

                                Exhibit 46:  Acciona SA - Key offerings

                                Exhibit 47: Acciona SA - Segment focus

                10.5 BrightSource Energy Inc.

                                Exhibit 48:  BrightSource Energy Inc. - Overview

                                Exhibit 49:  BrightSource Energy Inc. - Product and service

                                Exhibit 50:  BrightSource Energy Inc. - Key offerings

                10.6 Canadian Solar Inc.          

                                Exhibit 51:  Canadian Solar Inc. - Overview

                                Exhibit 52:  Canadian Solar Inc. - Business segments

                                Exhibit 53:  Canadian Solar Inc. - Key offerings

                                Exhibit 54:  Canadian Solar Inc. - Segment focus

                10.7 E Solar   

                                Exhibit 55:  E Solar - Overview

                                Exhibit 56:  E Solar - Product and service

                                Exhibit 57:  E Solar - Key offerings

                10.8 First Solar Inc.    

                                Exhibit 58:  First Solar Inc. - Overview

                                Exhibit 59:  First Solar Inc. - Business segments

                                Exhibit 60:  First Solar Inc. - Key offerings

                                Exhibit 61:  First Solar Inc. - Segment focus

                10.9 Kaneka Corp.      

                                Exhibit 62:  Kaneka Corp. - Overview

                                Exhibit 63:  Kaneka Corp. - Product and service

                                Exhibit 64:  Kaneka Corp. - Key offerings

                10.10 Shunfeng International Clean Energy Co. Ltd.     

                                Exhibit 65:  Shunfeng International Clean Energy Co. Ltd. - Overview

                                Exhibit 66:  Shunfeng International Clean Energy Co. Ltd. - Business segments

                                Exhibit 67:  Shunfeng International Clean Energy Co. Ltd. - Key offerings

                                Exhibit 68:  Shunfeng International Clean Energy Co. Ltd. - Segment focus

                10.11 SunPower Corp.             

                                Exhibit 69:  SunPower Corp. - Overview

                                Exhibit 70:  SunPower Corp. - Product and service

                                Exhibit 71:  SunPower Corp. - Key offerings

                10.12 Tata Power Co. Ltd.       

                                Exhibit 72:  Tata Power Co. Ltd.  - Overview

                                Exhibit 73:  Tata Power Co. Ltd.  - Business segments

                                Exhibit 74:  Tata Power Co. Ltd.  - Key offerings

                                Exhibit 75:  Tata Power Co. Ltd.  - Segment focus

11. Appendix                            

                11.1 Scope of the report         

                                11.1.1 ????Market definition

                                11.1.2 ????Objectives

                                11.1.3 ????Notes and caveats

                11.2 Currency conversion rates for US$            

                                Exhibit 76: ?Currency conversion rates for US$?

                11.3 Research Methodology 

                                Exhibit 77: ?Research Methodology

                                Exhibit 78: ??Validation techniques employed for market sizing?

                                Exhibit 79: ??Information sources

                11.4 List of abbreviations        

                                Exhibit 80: 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
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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
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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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