Global Solar Photovoltaic (PV) Services Market, Forecast to 2025

Global Solar Photovoltaic (PV) Services Market, Forecast to 2025

Solar Servicing Costs to Halve by 2025, Driven by Service Practice Innovation and Technology Cost Reductions

RELEASE DATE
22-Feb-2019
REGION
Global
Research Code: MCC7-01-00-00-00
SKU: EG01961-GL-MR_22885

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Description

The global market for solar services is forecast to increase from $8.13 billion in 2017 to $14.48 billion by 2025, driven by an aging asset base, as well as new installations. Solar growth remains strong across most regions, although the market has declined in China, due to change in regulations, which will mean lower installations in 2018 than in 2017. However, the market is growing across the rest of Asia, the Middle East, Europe, and Latin America. In North America, the market slowed in the first half of 2018, but has gradually been recovering, as the industry adapts to President Trump’s tariffs on Chinese solar products.

Competition in the market is increasing. Utility companies and independent power producers (IPPs) have developed a significant amount of expertise in solar servicing and are increasingly prepared to do more of the service work themselves to minimize costs. Besides, existing participants are expanding operations to new markets, and component providers are also boosting their servicing propositions.

Key new technology trends include the use of drone technology, increasing adoption of digital solar, water-free cleaning, and the adoption of string inverters to reduce maintenance costs. All these innovations have the potential to reduce CAPEX and OPEX.

The research methodology is a combination of primary and secondary research. Secondary research involves desk-based research. Primary research involves interaction with market participants and getting their perspective and feedback on Frost & Sullivan’s analysis.

Key Issues Addressed

  • Is the global solar power services market growing? How long will it continue to grow, and at what rate?
  • Are the existing competitors structured well to meet customer needs?
  • Will these companies, products, and applications continue to exist?
  • What are the key drivers and restraints affecting the solar power market?
  • Are the technologies offered meeting customer needs or are additional developments needed?
  • How are the growth trends for solar power different in developed and developing markets?

Key Conclusion

This study will provide an in-depth analysis on the solar PV services market, highlighting the major technology trends and innovations, key growth drivers, and the revenue potential generated from existing and future projects. The study is segmented into different parts discussing the annual installed capacity and revenue of the solar PV services market at global and regional levels. These insights will aid clients in identifying growth opportunities, adopting the right technology/solution and focus targets, given the larger number of potential global markets.

Author: Ozge Ozeke

Table of Contents

Key Findings

Market Engineering Measurements

Global Growth Potential

CEO’s Perspective

Associated Multimedia and Related Research

Market Definitions

Introduction

Methodology

Market Definitions—Main Types of Maintenance

Key Questions this Study will Answer

Market Segmentation by Region

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Market Engineering Measurements

Revenue Forecast

Capacity Forecast

Revenue and Capacity Forecast Discussion

Global Growth Potential

Percent Revenue Forecast by Region

Revenue Forecast by Region

New Contracts Vs Ongoing Contracts

New Contracts Vs Ongoing Contracts (continued)

Revenue Forecast by Top Countries

Revenue Forecast by Top Countries (continued)

Solar PV Services Technology and Market Trends—Water-free Cleaning

Solar PV Services Technology and Market Trends—Digital Solar Power

Solar PV Services Technology and Market Trends—String Vs Central Inverters

Solar PV Services Technology and Market Trends—Drones

Factors Impacting Solar PV Service Strategy

Solar PV Services Business Models

Solar PV Services Business Models (continued)

Pricing Trends and Forecast

Pricing Trends and Forecast (continued)

Key Solar PV Service Market Participants

Competitive Environment

Growth Opportunity 1—Offerings

Growth Opportunity 2—Disruptive Applications

Strategic Imperatives for OEMs, EPC Companies, and ISPs

North America—Key Market Highlights

Revenue Forecast

Revenue Forecast by Country

Revenue Forecast by Contract Type

Revenue Forecast by End Users

Europe—Key Market Highlights

Revenue Forecast

Revenue Forecast by Country

Revenue Forecast by Country Discussion

Revenue Forecast by Contract Type

Revenue Forecast by End Users

China—Key Market Highlights

Revenue Forecast

Revenue Forecast Discussion

Revenue Forecast by Contract Type

Revenue Forecast by End Users

India—Key Market Highlights

Revenue Forecast

Revenue Forecast Discussion

Revenue Forecast by Contract Type

Revenue Forecast by End Users

Asia-Pacific—Key Market Highlights

Revenue Forecast

Revenue Forecast by Country

Revenue Forecast by Country Discussion

Revenue Forecast by Contract Type

Revenue Forecast by End Users

Latin America—Key Market Highlights

Revenue Forecast

Revenue Forecast by Country

Revenue Forecast by Country Discussion

Revenue Forecast by Contract Type

Revenue Forecast by End Users

Africa—Key Market Highlights

Revenue Forecast

Revenue Forecast Discussion

Revenue Forecast by Contract Type

Revenue Forecast by End Users

The Middle East—Key Market Highlights

Revenue Forecast

Revenue Forecast Discussion

Revenue Forecast by Contract Type

Revenue Forecast by End Users

The Last Word—3 Big Predictions

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
The global market for solar services is forecast to increase from $8.13 billion in 2017 to $14.48 billion by 2025, driven by an aging asset base, as well as new installations. Solar growth remains strong across most regions, although the market has declined in China, due to change in regulations, which will mean lower installations in 2018 than in 2017. However, the market is growing across the rest of Asia, the Middle East, Europe, and Latin America. In North America, the market slowed in the first half of 2018, but has gradually been recovering, as the industry adapts to President Trump’s tariffs on Chinese solar products. Competition in the market is increasing. Utility companies and independent power producers (IPPs) have developed a significant amount of expertise in solar servicing and are increasingly prepared to do more of the service work themselves to minimize costs. Besides, existing participants are expanding operations to new markets, and component providers are also boosting their servicing propositions. Key new technology trends include the use of drone technology, increasing adoption of digital solar, water-free cleaning, and the adoption of string inverters to reduce maintenance costs. All these innovations have the potential to reduce CAPEX and OPEX. The research methodology is a combination of primary and secondary research. Secondary research involves desk-based research. Primary research involves interaction with market participants and getting their perspective and feedback on Frost & Sullivan’s analysis.--BEGIN PROMO--

Key Issues Addressed

  • Is the global solar power services market growing? How long will it continue to grow, and at what rate?
  • Are the existing competitors structured well to meet customer needs?
  • Will these companies, products, and applications continue to exist?
  • What are the key drivers and restraints affecting the solar power market?
  • Are the technologie
More Information
No Index No
Podcast No
Author Ozge Ozeke
Industries Energy
WIP Number MCC7-01-00-00-00
Is Prebook No
GPS Codes 9AFE-A4,9B00-A4,9851,GETE