Solar Energy Market Size in Japan to Grow by 505.28 terawatt-hours| High Electricity Demand to boost market growth| Technavio
NEW YORK, March 24, 2022 /PRNewswire/ — According to the research report, the Solar Energy Market in Japan will witness a YOY growth of 27.81% in 2022 at a CAGR of 29.78% during the forecast period. The report is segmented by end-user (utility and rooftop) and application (grid-connected and off-grid).
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Solar Energy Market in Japan is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Abengoa SA
- Acciona SA
- BrightSource Energy Inc.
- Canadian Solar Inc.
- E Solar
- First Solar Inc.
- Kaneka Corp.
- Shunfeng International Clean Energy Co. Ltd.
- SunPower Corp.
- Tata Power Co. Ltd.
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Key Segment Analysis
The utility segment’s solar energy market share will expand significantly in Japan during the projection period. Utility-scale solar has been providing continuous, clean electricity at a reasonable cost for decades. Developing utility-scale solar power is one of the quickest methods to cut carbon emissions and put Japan on the path to a clean energy future. In a utility-scale solar power plant, solar technologies such as primary PV and CSP can be used.
Furthermore, many utility-scale solar systems can have energy storage capacity, which provides power when the sun isn’t shining while also enhancing grid resiliency and reliability. During the projection period, such variables will boost segment expansion.
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Key Market Drivers & Challenges:
One of the main factors of solar energy industry growth in Japan is increased electricity consumption. Due to more time spent at home, energy consumption in the households sector grew year over year. Over the last five years, small-scale power merchants have increased their sales in Japan’s power market. Despite increasing market share, the slight increase indicates that merchants boosted direct purchases from power providers to assure consistent supplies in response to government suggestions for preventative actions to avert power shortages. Increased demand encourages the use of solar energy, which is expected to continue during the projection period.
However, the rising adoption of alternate renewable sources is one of the factors hindering the solar energy market growth in Japan.
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Solar Energy Market in Japan Value Chain Analysis
The value chain of the renewable electricity market includes the following core components:
- Electricity generation
- Electricity transmission
- Electricity distribution
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Solar Energy Market Scope in Japan
Growth momentum & CAGR
Accelerate at a CAGR of 29.78%
Market growth 2022-2026
YoY growth (%)
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., E Solar, First Solar Inc., Kaneka Corp., Shunfeng International Clean Energy Co. Ltd., SunPower Corp., and Tata Power Co. Ltd.
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
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
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
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
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
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
Exhibit 34: Customer landscape
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 High electricity demand
8.1.2 Increasing greenhouse gas emission and environmental concerns
8.1.3 Favorable government policies
8.2 Market challenges
8.2.1 High initial investment
8.2.2 Requirement of large installation area to set up solar farms
8.2.3 Rising adoption of alternate renewable sources
Exhibit 35: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increase in solar PV installations
8.3.2 Increasing developments in the implementation of renewable energy
8.3.3 Decline in prices of solar panels
9. Vendor Landscape
Exhibit 36: Vendor landscape
9.2 Landscape disruption
Exhibit 37: Landscape disruption
Exhibit 38: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 39: Vendors covered
10.2 Market positioning of vendors
Exhibit 40: Market positioning of vendors
10.3 Abengoa SA
Exhibit 41: Abengoa SA – Overview
Exhibit 42: Abengoa SA – Product and service
Exhibit 43: Abengoa SA – Key offerings
10.4 Acciona SA
Exhibit 44: Acciona SA – Overview
Exhibit 45: Acciona SA – Business segments
Exhibit 46: Acciona SA – Key offerings
Exhibit 47: Acciona SA – Segment focus
10.5 BrightSource Energy Inc.
Exhibit 48: BrightSource Energy Inc. – Overview
Exhibit 49: BrightSource Energy Inc. – Product and service
Exhibit 50: BrightSource Energy Inc. – Key offerings
10.6 Canadian Solar Inc.
Exhibit 51: Canadian Solar Inc. – Overview
Exhibit 52: Canadian Solar Inc. – Business segments
Exhibit 53: Canadian Solar Inc. – Key offerings
Exhibit 54: Canadian Solar Inc. – Segment focus
10.7 E Solar
Exhibit 55: E Solar – Overview
Exhibit 56: E Solar – Product and service
Exhibit 57: E Solar – Key offerings
10.8 First Solar Inc.
Exhibit 58: First Solar Inc. – Overview
Exhibit 59: First Solar Inc. – Business segments
Exhibit 60: First Solar Inc. – Key offerings
Exhibit 61: First Solar Inc. – Segment focus
10.9 Kaneka Corp.
Exhibit 62: Kaneka Corp. – Overview
Exhibit 63: Kaneka Corp. – Product and service
Exhibit 64: Kaneka Corp. – Key offerings
10.10 Shunfeng International Clean Energy Co. Ltd.
Exhibit 65: Shunfeng International Clean Energy Co. Ltd. – Overview
Exhibit 66: Shunfeng International Clean Energy Co. Ltd. – Business segments
Exhibit 67: Shunfeng International Clean Energy Co. Ltd. – Key offerings
Exhibit 68: Shunfeng International Clean Energy Co. Ltd. – Segment focus
10.11 SunPower Corp.
Exhibit 69: SunPower Corp. – Overview
Exhibit 70: SunPower Corp. – Product and service
Exhibit 71: SunPower Corp. – Key offerings
10.12 Tata Power Co. Ltd.
Exhibit 72: Tata Power Co. Ltd. – Overview
Exhibit 73: Tata Power Co. Ltd. – Business segments
Exhibit 74: Tata Power Co. Ltd. – Key offerings
Exhibit 75: Tata Power Co. Ltd. – Segment focus
11.1 Scope of the report
11.1.1 Market definition
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 76: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 77: Research Methodology
Exhibit 78: Validation techniques employed for market sizing
Exhibit 79: Information sources
11.4 List of abbreviations
Exhibit 80: List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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