Solar Shingles Market by Type and Geography - Forecast and Analysis 2022-2026

The solar shingles market share is expected to increase to USD 618.91 million from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 5.2%.

This solar shingles market 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 shingles market segmentations by type (silicon photovoltaic and CIGS thing film photovoltaic) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The solar shingles market report also offers information on several market vendors, including Agni Solar System Pvt. Ltd., Alternative Energy Store Inc., Anu Solar Power Pvt. Ltd., Canadian Solar Inc., CertainTeed, E Solar, FlexSol Solutions BV, Hanergy Thin Film Power EME BV, JA Solar Technology Co. Ltd., Luma Solar, PV Technical Services Inc., Solarmass Energy Group Ltd., Sunflare, SunPower Corp., SunTegra Solar, Tesla Inc., Trina Solar Co. Ltd., Vikram Solar Ltd., and Yingli Green Energy Holding Co. Ltd. among others.

What will the Solar Shingles Market Size be During the Forecast Period?

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Solar Shingles Market: Key Drivers, Trends, and Challenges

The increasing investments in the renewable energy sector is notably driving the solar shingles market growth, although factors such as the intermittent nature of solar power 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 shingles industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Solar Shingles Market Driver

The increasing investments in the renewable energy sector is one of the key factors driving the solar shingles market growth. For instance, India is expected to achieve the renewable energy target of 500 GW by 2030. China is also investing in renewable energy, including solar power, as part of its Belt and Road initiative (BRI). As of 2021, 31% of China's investment in BRI was in the solar and wind power sector. Furthermore, many European countries, such as Norway, Iceland, and Sweden, rely on renewable sources for more than half of their total annual power demand. This is due to the implementation of stringent emission norms in countries in the EU. Thus, the shift in focus to renewable sources of energy is increasing investments in the energy industry. This drives the growth of the global solar energy sector, which, in turn, will propel the growth of the global solar shingles market during the forecast period.

Key Solar Shingles Market Trend

The development of zero-energy buildings is one of the key solar shingles market trends supporting market growth. The zero-energy building (ZEB) concept is an energy-efficiency technology, in which the building generates its own power using renewables that are equal to the amount of power it uses on an annual basis. ZEBs are constructed using special materials, such as well-insulated building structures, to prevent leaks from heating/ or cooling. This increases the overall building efficiency. Renewable energy sources, such as solar PV, fuel cells, and energy storage technologies, are used to generate the power required for the building. The power is generated at a site using low-carbon-energy systems, and the interior design mechanism of the building supports reducing the amount of power consumed. Such development of ZEBs will support the market growth during the forecast period.

Key Solar Shingles Market Challenge

The intermittent nature of solar power is one of the factors impeding the solar shingles market growth. Solar energy is not available at all times of the day as fossil fuels. The output of solar power systems varies highly due to the change in the solar irradiation level at different times of the day and in different seasons. This intermittent nature gives rise to the need for backup power to support the power demand and increases operations related to grid planning activities. On the other hand, overcoming the intermittent nature of solar power still needs the use of advanced technology, whereas, in other renewable resources, such as pumped hydropower, the systems make use of the reverse flow of water into the reservoir to generate energy. Such factors associated with solar power will impede the solar shingles market growth during the forecast period.

This solar shingles market 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 global solar shingles market 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 shingles market during the forecast period.

Who are the Major Solar Shingles Market Vendors?

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

 

• Agni Solar System Pvt. Ltd.
• Alternative Energy Store Inc.
• Anu Solar Power Pvt. Ltd.
• Canadian Solar Inc.
• CertainTeed
• E Solar
• FlexSol Solutions BV
• Hanergy Thin Film Power EME BV
• JA Solar Technology Co. Ltd.
• Luma Solar
• PV Technical Services Inc.
• Solarmass Energy Group Ltd.
• Sunflare
• SunPower Corp.
• SunTegra Solar
• Tesla Inc.
• Trina Solar Co. Ltd.
• Vikram Solar Ltd.
• Yingli Green Energy Holding Co. Ltd.

 

This statistical study of the solar shingles market encompasses successful business strategies deployed by the key vendors. The solar shingles market is fragmented and the vendors are deploying growth strategies such as R&D and innovations to compete in the market.

Product Insights and News

• Agnisolar.com - The company offers solar single namely Solar Rooftop system.
• Altestore.com - The company offers solar singles through its subsidiary Real Goods.
• Certainteed.com - The company offers solar single namely Apollo II.

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 shingles market 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 Shingles Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the solar shingles market, 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.

Which are the Key Regions for Solar Shingles Market?

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34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the solar shingles market in APAC. Market growth in this region will be slower than the growth of the market in other regions.

The increasing environmental concerns, growing energy demand, and supporting government regulations will facilitate the solar shingles market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Solar shingles installation was negatively impacted due to the social distancing measures taken against the spread of COVID-19. However, due to the rapid vaccination drives and resumption of the construction industry, the demand for solar shingles started to increase in 2021. Therefore, owing to the significant growth in the solar capacity additions across China and the growing focus on BIPV technology, the regional solar shingles market is expected to grow moderately during the forecast

What are the Revenue-generating Type Segments in the Solar Shingles Market?

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The solar shingles market share growth by the silicon photovoltaic segment will be significant during the forecast period. The silicone photovoltaic segment accounted for the largest market share in the global solar shingles market. Solar shingles are building products that are integrated into roof shake, slate roofs, and concrete roofs. Most solar shingles are made of silicone, which is installed with existing roofing materials. Some shingles are made of monocrystalline silicon. Since the cell is composed of a single crystal, electrons that generate electricity have more room to flow. Such factors will drive the silicon photovoltaic 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 shingles market size and actionable market insights on post COVID-19 impact on each segment.

 

Solar Shingles Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 5.2%
Market growth 2022-2026	$ 618.91 million
Market structure	Fragmented
YoY growth (%)	5.77
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 34%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Agni Solar System Pvt. Ltd., Alternative Energy Store Inc., Anu Solar Power Pvt. Ltd., Canadian Solar Inc., CertainTeed, E Solar, FlexSol Solutions BV, Hanergy Thin Film Power EME BV, JA Solar Technology Co. Ltd., Luma Solar, PV Technical Services Inc., Solarmass Energy Group Ltd., Sunflare, SunPower Corp., SunTegra Solar, Tesla Inc., Trina Solar Co. Ltd., Vikram Solar Ltd., and Yingli Green Energy Holding 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 Shingles Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive solar shingles market growth during the next five years
• Precise estimation of the solar shingles market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the solar shingles industry across APAC, North America, Europe, South America, and Middle East and 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 shingles market vendors

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