LONDON–(BUSINESS WIRE)–The residential solar PV systems market is expected to grow by USD 52.23 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the residential solar PV systems market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19
The residential solar PV systems market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the next normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Residential Solar PV Systems Market Participants:
ABB Ltd. operates the business through various segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers transmission and distribution of residential solar PV systems for both on-grid and off-grid applications.
Canadian Solar Inc.
Canadian Solar Inc. operates the business through various segments such as MSS, and Energy. The company offers solar panels and modules and residential solar power kits.
Hanwha Corp. operates the business through various segments such as Aerospace and mechatronics, Chemicals and materials, Solar energy, Financial services, Construction, and Leisure and lifestyle. The company offers Q cells such as.PLUS, Q.PEAK, Q.HOME, Q.HOME+, Q.POWER, Q.PRIME, and EPC.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/residential-solar-pv-systems-market-industry-analysis
Residential Solar PV Systems Market 2021-2025: Segmentation
The residential solar PV systems market is segmented as below:
- North America
- South America
The residential solar PV systems market is driven by increasing investments in renewable energy. In addition, other factors such as increasing adoption of microgrids are expected to trigger the residential solar PV systems market toward witnessing a CAGR of over 8% during the forecast period.
Get more insights about the global trends impacting the future of the residential solar PV systems market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR46617
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.