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

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR72193
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The solar energy market share in South Africa is expected to increase by 23.31 terawatt-hour units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.74%.

This solar energy market in South Africa 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 the solar energy market in South Africa segmentation by end-user (utility and rooftop) and application (grid-connected and off-grid). The solar energy market in South Africa report also offers information on several market vendors, 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.

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

South America Solar Energy Market Size

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

"The increasing investments in renewable energy is driving the Argentina solar energy market growth."

Solar Energy Market in South Africa: Key Drivers, Trends, and Challenges

The sunny climatic conditions are notably driving the solar energy market growth in South Africa, although factors such as high initial investment and maintenance cost for solar PV systems 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 South Africa. 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 South Africa

One of the key factors driving the solar energy market growth in South Africa is the sunny climatic conditions, as it is located in a latitude zone where the incidence of solar radiation is substantially higher than the rest of the globe. Solar energy began to gain traction in 2017, with total capacity increasing to 7.8 gigawatts by 2020. The rise in energy demand started to overwhelm the existing power generating plants in South Africa. The government policies and increased investments in solar PV projects to increase the installed solar PV capacity of the country in the coming years. Under REIPPP, the country aims to install an 8,400-megawatt generation capacity of solar PV by 2030, enough to provide energy to 1.5 million households. In addition, the country also plans to install 18 gigawatts of solar PV by 2050. Such factors are expected to positively impact the market growth during the forecast period.

Key Solar Energy Market Trend in South Africa

Scaling up renewables in transport will drive the solar energy market growth in South Africa, as the country is focusing on reducing carbon emissions and adopting renewable sources to fulfill energy requirements. For instance, Cape Town targets to procure only zero-emission vehicles by 2025. Cape Town's Electric Vehicle Framework includes leveraging EV roll-out and charging to increase the share of renewables and is considering requiring public EV charging stations to operate on renewable energy (RE). This will require electrification of transport systems, which, in turn, will accelerate the adoption of solar energy sources for power generation during the forecast period.

Key Solar Energy Market Challenge in South Africa

One of the key challenges to the solar energy market growth in South Africa is the high initial investment and maintenance cost for solar PV systems. The requirement of a vast area for panels to generate a large amount of electricity is the major reason for the increased investment rates. As the efficiency of solar panels is less due to intermittency problems, customers need to install a large number of solar panels to meet their energy requirements, which increases the initial investment and maintenance cost. For instance, solar panels need to be inspected within a span of one year, with a household inspection costing around USD 0.023 to USD 0.03 USD/Watt/year. This results in a huge burden on household users, thereby limiting the use of solar panels and solar cover glass for residential purposes. Such factors are expected to hamper the solar energy market growth in South Africa during the forecast period.

This solar energy market in South Africa 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 South Africa 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 South Africa during the forecast period.

Who are the Major Solar Energy Market Vendors in South Africa?

The report analyzes the market's competitive landscape and offers information on several market vendors, 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.
  • Trina Solar Co. Ltd.

This statistical study of the solar energy market in South Africa encompasses successful business strategies deployed by the key vendors. 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.

Product Insights and News

  • ARTsolar Pty Ltd. - The company offers solar energy products under the brand name of Alpha.

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 South Africa 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 South Africa Value Chain Analysis

Our report provides extensive information on the value chain analysis for the solar energy market in South Africa, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains 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 global renewable electricity market includes the following core components:

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

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 South Africa?

South America Solar Energy Market Market segmentation by region

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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.

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

 

Solar Energy Market Scope in South Africa

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 29.74%

Market growth 2022-2026

23.31 TWh units

Market structure

Fragmented

YoY growth (%)

24.80

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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.

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 the 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 South Africa Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive solar energy market growth in South Africa during the next five years
  • Precise estimation of the solar energy market size in South Africa and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar energy market industry in South Africa  
  • 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 South Africa 

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

                              2.2.1 Inputs

                              2.2.2 Electricity generation

                              2.2.3 Electricity transmission

                              2.2.4 Electricity distribution

                              2.2.5 End-users

                              2.2.6 Innovations

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 

                              3.4.1 Estimating growth rates for emerging and high-growth markets

                              3.4.2 Estimating growth rates for mature markets

                              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

                              The segments covered in this chapter are:

  • Grid-connected
  • Off-grid

                              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

                              The segments covered in this chapter are:

  • Utility
  • Rooftop

                              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                        

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

               7.1 Overview

                              Exhibit 34:  Customer landscape

8. Drivers, Challenges, and Trends                  

               8.1 Market drivers      

                              8.1.1 Sunny climatic conditions

                              8.1.2 Rising adoption of renewable energy source

                              8.1.3 Rising government initiative

               8.2 Market challenges              

                              8.2.1 High initial investment and maintenance cost for solar PV systems

                              ?8.2.2 Increasing number of alternative energy sources

                              8.2.3 Intermittency in solar power generation

                              Exhibit 35:  Impact of drivers and challenges

               8.3 Market trends      

                              8.3.1 Scaling up renewables in transport

                              8.3.2 Declining cost of solar PV panels 

                              8.3.3 Increasing adoption of microgrids

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 44:  Vendors covered

               10.2 Market positioning of vendors    

                              Exhibit 45: Market positioning of vendors

               10.3 ARTsolar Pty Ltd.              

                              Exhibit 41:  ARTsolar Pty Ltd. - Overview

                              Exhibit 42:  ARTsolar Pty Ltd. - Product and service

                              Exhibit 43:  ARTsolar Pty Ltd. - Key offerings

               10.4 Canadian Solar Inc.          

                              Exhibit 44:  Canadian Solar Inc. - Overview

                              Exhibit 45:  Canadian Solar Inc. - Business segments

                              Exhibit 46:  Canadian Solar Inc. - Key offerings

                              Exhibit 47:  Canadian Solar Inc. - Segment focus

               10.5 Enel SPA

                              Exhibit 48:  Enel SPA - Overview

                              Exhibit 49:  Enel SPA - Business segments

                              Exhibit 50:  Enel SPA - Key offerings

               10.6 ENGIE SA             

                              Exhibit 51:  ENGIE SA - Overview

                              Exhibit 52:  ENGIE SA - Business segments

                              Exhibit 53:  ENGIE SA - Key offerings

                              Exhibit 54:  ENGIE SA - Segment focus

               10.7 IBC Solar AG        

                              Exhibit 55:  IBC Solar AG - Overview

                              Exhibit 56:  IBC Solar AG - Product and service

                              Exhibit 57:  IBC Solar AG - Key offerings

               10.8 Jiangsu Seraphim Solar System Co. Ltd.   

                              Exhibit 58:  Jiangsu Seraphim Solar System Co. Ltd. - Overview

                              Exhibit 59:  Jiangsu Seraphim Solar System Co. Ltd. - Business segments

                              Exhibit 60:  Jiangsu Seraphim Solar System Co. Ltd. - Key offerings

               10.9 JinkoSolar Holding Co. Ltd.           

                              Exhibit 61:  JinkoSolar Holding Co. Ltd. - Overview

                              Exhibit 62:  JinkoSolar Holding Co. Ltd. - Business segments

                              Exhibit 63:  JinkoSolar Holding Co. Ltd. - Key offerings

               10.10 Renenergy South Africa Pty Ltd.              

                              Exhibit 64:  Renenergy South Africa Pty Ltd. - Overview

                              Exhibit 65:  Renenergy South Africa Pty Ltd. - Product and service

                              Exhibit 66:  Renenergy South Africa Pty Ltd. - Key offerings

               10.11 SunPower Corp.             

                              Exhibit 67:  SunPower Corp. - Overview

                              Exhibit 68:  SunPower Corp. - Business segments

                              Exhibit 69:  SunPower Corp. - Key offerings

                              Exhibit 70:  SunPower Corp. - Segment focus

               10.12 Trina Solar Co. Ltd.        

                              Exhibit 71:  Trina Solar Co. Ltd. - Overview

                              Exhibit 72:  Trina Solar Co. Ltd. - Business segments

                              Exhibit 73:  Trina Solar Co. Ltd. - Key offerings

                              Exhibit 74:  Trina Solar 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 75:  Currency conversion rates for US$

               11.3 Research Methodology   

                              Exhibit 76:  Research Methodology

                              Exhibit 77:  Validation techniques employed for market sizing

                              Exhibit 78:  Information sources

               11.4 List of abbreviations        

                              Exhibit 79:  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 $23.31 TWh during 2021-2026.
The solar energy market is expected to grow at a CAGR of 29.74% during 2021-2026.
Technavio has segmented the solar energy market by end user (Utility and Rooftop) ,application (Grid-connected and Off-grid) , and geographic (Andorra).
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., Trina Solar Co. Ltd. are a few of the key vendors in the solar energy market.
Andorra will register the highest growth rate of NaN% among the other regions. Therefore, the solar energy market in Andorra is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the solar energy market growth are:
  • Sunny climatic conditions
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?
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  • 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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