Worldwide Solar PV Balance of Systems (BOS) Market Outlook, 2019-2023 - Set to Record a Substantial Growth Exceeding 21% CAGR - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 13, 2019--The “Global Solar PV Balance of Systems (BOS) Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The global solar PV balance of systems market is expected to grow at a CAGR of over 21% during the forecast period.
The market has witnessed an increasing development of Zero Energy Buildings (ZEB) as it significantly reduces the energy use by slashing its demand. It supplies the energy needs from renewable energy sources, such as solar panels. The ZEBs are constructed and designed using special materials, such as well-insulated building structures to prevent leaks for heating/cooling and increase the overall building efficiency. Renewable energy sources such as solar PV, fuel cells, and energy storage technologies are used to generate the power required by the building.
Governments across the world are pushing many initiatives for sustainable smart city developments. Many other countries have also set their focus on building smart cities. Solar PV systems help building smart cities significantly. Therefore, the initiatives that the governments are taking across the world for sustainable smart city developments will drive the growth of the global solar PV industry. This, in turn, will drive the growth of the global solar PV balance of systems.
Increasing investments in renewables energy
The total cost of generating electricity using renewable sources is relatively compared with the traditional sources such as fossil fuels. The shift in focus to renewable sources of energy is increasing investments in the energy industry. This will drive the growth of the global solar PV market. This, in turn, should drive the growth of the global solar PV balance of systems market during our forecast period.
Rising competition from other sources of energy
Many countries prefer using fossil fuels rather than renewable energy due to abundantly available fossil fuels rather than renewable energy. Therefore, the increased adoption of other resources of energy has been hindering the growth of the solar PV industry. This will affect the market negatively during our forecast period.
The solar PV balance of systems market is moderately fragmented owing to the presence of several market players. The competitive cost of generating electricity and low carbon emissions from renewable sources have increased investments in renewable energy, globally.
The market is currently in the growth phase. This will result in a highly competitive environment since all players will compete intensely to make the most from this growth. To help clients improve their positions in this competitive market, this research provides a detailed analysis of the market’s competitive landscape and also offers details on the services offered by several companies.
Key PlayersABB Allied Wire & Cable Eaton Huawei Technologies SMA Solar Technology Sungrow Unirac
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPEMarket ecosystem Market characteristics Market segmentation analysis
PART 04: MARKET SIZINGMarket definition Market sizing 2018 Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSISBargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry
PART 06: MARKET SEGMENTATION BY PRODUCTComparison by product Electrical BOS - Market size and forecast 2018-2023 Inverter - Market size and forecast 2018-2023 Structural BOS - Market size and forecast 2018-2023 Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPEGeographic comparison APAC - Market size and forecast 2018-2023 Americas - Market size and forecast 2018-2023 EMEA - Market size and forecast 2018-2023 Key leading countries Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDSAdvances in inverter technology Reduced solar energy costs Increasing development of Zero Energy Buildings (ZEB)
PART 12: VENDOR LANDSCAPEOverview Landscape disruption
PART 13: VENDOR ANALYSISVendors covered Vendor classification Market positioning of vendors ABB Allied Wire & Cable Eaton Huawei Technologies SMA Solar Technology Sungrow Unirac
For more information about this report visit https://www.researchandmarkets.com/research/nctj4r/worldwide_solar?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190213005433/en/
Laura Wood, Senior Press Manager
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INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY UTILITIES
SOURCE: Research and Markets
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PUB: 02/13/2019 08:45 AM/DISC: 02/13/2019 08:45 AM