The global solar shingles market growth is driven by increasing demand for renewable energy sources, government incentives and subsidies, and advances in solar technology.
According to TechSci Research report, “Global Solar Shingles Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Solar Shingles is anticipated to project robust growth in the forecast period with a CAGR of 4.8% through 2028. Solar shingles are a popular choice for homeowners and businesses who want to generate their own electricity using solar power while also maintaining a traditional aesthetic. The global solar shingles market growth is driven by increasing demand for renewable energy sources, government incentives and subsidies, and advances in solar technology. One of the major advantages of solar shingles is their ability to blend in seamlessly with the existing roofline of a building.
It makes them an attractive option for homeowners and businesses who want to generate renewable energy without compromising the aesthetic appeal of their property. The solar shingles market is becoming increasingly competitive as many companies enter the market to meet the growing demand for renewable energy sources. Tesla is a leading player in the solar shingles market with its Solar Roof product. The Solar Roof is a unique product that combines the functionality of a roof with solar panels to generate renewable energy. The solar shingles market is a relatively new and growing market that has seen significant developments in recent years. Many companies are actively working to develop and improve solar shingle technology, as well as to expand their reach into new markets.
There have been several partnerships and collaborations among these key players, as well as with other companies in the solar and construction industries. For example, Tesla has partnered with various roofing companies to install their solar shingles, while CertainTeed has collaborated with Solaria Corporation to develop their Apollo II solar shingle product. As the solar shingles market continues to grow and evolve, the partnerships and collaborations among key players are expected to drive to develop innovative new products and expand their reach into new markets.
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he increasing demand for clean and renewable energy, coupled with supportive government policies and initiatives, is driving the growth of the solar shingles market in the region. Countries such as China, Japan, India, and Australia are leading the adoption of solar shingles in the Asia Pacific region. Japan is another key market for solar shingles, as the country has been actively promoting the adoption of renewable energy sources to reduce its reliance on nuclear power. India is also emerging as a significant market for solar shingles, driven by the country’s ambitious target to achieve 175 GW of renewable energy capacity by 2022.
The Indian government has implemented various initiatives and policies to support the growth of the solar power industry in the country, which is expected to boost the adoption of solar shingles. Australia is another promising market for solar shingles in the Asia Pacific region. The country has abundant solar resources and has set a target to achieve 50% renewable energy by 2030. The government has implemented various policies and incentives to encourage the adoption of solar power, which is expected to drive the growth of the solar shingles market in the country.
Key market players in the Global Solar Shingles Market are following:-
- SunTegra Solar
- Ergosun
- CertainTeed
- Canadian Solar
- Ertex Solar
- FlexSol Solutions B.V
- Tesla
- Anu Solar Power Pvt Ltd
- PV Technical Services Inc.
- Sunflare
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Based on Type, the solar shingles market is segmented based on the type of solar cell technology used in the shingles. Silicon solar shingles are made of silicon solar cells, which are the most commonly used solar cells in the world. They are efficient, durable, and have a long lifespan. Silicon solar shingles can be easily integrated into the existing roofing system and are available in a variety of colors and designs to match the aesthetic of the building.
On the other hand, Copper-Indium-Gallium-Selenide (CIGS) solar shingles are made of CIGS solar cells, which are known for their high efficiency and flexibility. CIGS solar shingles are thinner and lighter than silicon solar shingles, making them easier to install. They also have a lower manufacturing cost, which translates to a lower overall cost for the end consumer.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Solar Shingles Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Type (Silicon Solar Shingles, Copper – Indium – Gallium – Selenide (CIGS) Solar Shingles, Others), By Roofing Type (New Roofing, Reroofing), By End User (Residential, Commercial, Industrial), By Region, Competition 2018-2028.. has evaluated the future growth potential of Global Solar Shingles Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Solar Shingles Market.
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