Solar energy market in Japan to grow by 505.28 terawatt-hours from 2021 to 2026 | The high electricity demand drives market growth - Technavio

NEW YORK, Aug. 25, 2023 /PRNewswire/ -- The solar energy market size in Japan is expected to increase by 505.28 terawatt-hours from 2021 to 2026, registering a CAGR of 29.78%, according to the latest research report from Technavio. Discover Utilities industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

The solar energy market covers the following areas:

• Solar Energy Market in Japan Sizing
• Solar Energy Market in Japan Forecast
• Solar Energy Market in Japan Analysis

Company Landscape

The solar energy market in Japan is fragmented due to the presence of numerous international and regional players. Key vendors in the market are Abengoa Solar S.A, Acciona Energia S.A, and Bright Source Energy Inc. The market has pure-play, industry-focused, as well as diversified vendors. The competition in the market is high due to the presence of a wide range of competitors offering many products and solutions. The solar energy market in Japan is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

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• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Company Offerings

• Abengoa SA - The company is involved in offering solar energy which uses the heat of the sun to produce large-scale clean electricity to the grid when it is demanded even in hours without sunlight.
• Acciona SA - The company is involved in offering solar energy through the photovoltaic segment with greater efficiency and contributes to reducing the carbon footprint of leading companies in a wide range of sectors.
• BrightSource Energy Inc. - The company is involved in offering wind and solar photovoltaic in order to produce highly efficient renewable energy which delivers clean, reliable, and cost-competitive options to users.

For the market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in minutes

Key Market Segmentation

The report extensively covers the solar energy market in Japan segmentation by end-user (utility and rooftop) and application (grid-connected and off-grid). 

• The utility segment's growth will be significant in Japan during the forecast 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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Companies Mentioned

• 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.

Solar energy market in Japan - Market Dynamics

Key Drivers

• The high electricity demand drives the growth of the solar energy market in Japan.
• Owing to factors such as the increased time spent at home because of COVID-19 in 2020 and other impacts, the household sector showed an increase in energy consumption.
• Furthermore, the country's power sector has recorded rising sales by small-scale power retailers over the past five years.
• Hence, such increased demands contribute to the adoption of solar energy, which is likely to continue during the forecast period. 

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Key Topics Covered

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by end user

7 Market Segmentation by application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio