PUBLISHER: Allied Market Research | PRODUCT CODE: 1239525
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239525
The global solar shingle market was valued at $326.2 million in 2021, and is projected to reach $555.2 million by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
Solar shingles, also known as photovoltaic shingles, are solar panels created to mimic the appearance and functionality of common roofing materials, including asphalt shingles or slate, and to generate electricity at the same time. Solar shingle is a type of solar energy solution known as building-integrated photovoltaics (BIPV). Solar shingles come in a variety of shapes and sizes, including solid panels that are the size of shingles, semi-rigid designs with multiple silicon solar cells that are sized more like conventional shingles, and more recent systems using various thin-film solar cell technologies that are comparable to conventional shingles in terms of both size and flexibility.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.
The solar shingle is segmented on the basis of type, roofing type, end user and region. On the basis of type, it is classified into silicon solar shingles, (CIGS) solar shingles and others. By roofing type, the market is categorized new roofing and reroofing. On the basis of end user, it is divided into residential, commercial and industrial. Region-wise, the market is studied across North America, Europe, Asia-Pacific, And LAMEA. Asia-Pacific dominates the solar shingle market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The increased growth of the market as the favourable regulations encouraging the installation of solar shingle and increased consumer spending on home upgrades and retrofits within the region in the forecast period of 2022 to 2029.
For instance, In Feb 2019, RGS Energy has won "Best Energy Efficiency Product" award for its stunning POWERHOUSE™ solar shingle system at 7th annual best of IBS awards during NABH International Builders' Show in Las Vegas*
The global solar shingle market profiles leading players that include, Anu Solar Power Pvt Ltd, Canadian Solar, CertainTeed, Ertex Solar,Ergosun, FlexSol Solutions B.V., PV Technical Services Inc., SunTegra Solar, Sunflare, Tesla. The global solar shingle market report provides in-depth competitive analysis as well as profiles of these major players.