Vertical: EnPBase Year: 2019
Market Size (2019)
$1.75B
Projected (2026)
$3.10B
CAGR (2018–2026)
8.4%
Key Players
12+
The demand for off-grid solar is growing rapidly in the global market owing to the various factors, including the increasing share of solar energy sources in the global energy mix and the growing adoption of off-grid solar in developing and rural areas. The global off-grid solar market is projected to grow at 8.62% CAGR during the forecast period, 2020 to 2026. In 2019, the global off-grid solar market was dominated by Asia-Pacific with a 46.6% share, followed by the Middle East & Africa and Europe with shares of 37.01% and 6.78%, respectively. The global off-grid solar market has been segmented on the basis of type, application, and region. Based on type, the global off-grid solar market has been segmented into solar panel, battery, controller, and inverter. The controller segment is expected to grow at a faster rate during the forecast period. In 2019, the solar panel segment held a share of 49.00% of the global off-grid solar market. Based on application, the global off-grid solar market has been segmented into residential and non-residential. The non-residential segment is expected to grow at the fastest rate during the forecast period. In 2019, the non-residential segment held a share of 73.60% in the global off-grid solar market.
The Off Grid Solar Market market is projected to grow at a CAGR of 8.4% from 2018 to 2026.
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View Subscription PlansOff-grid solar solutions have emerged as a mainstream solution to increase access to renewable energy in an environmentally sustainable manner. Off-grid solar systems work independently off the power grid with the help of batteries that store solar power generated by the system. An off-grid solar system mainly comprises four components, namely, battery, solar panels, inverter, and controller.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2019
Historical Period
2018 – 2018
Forecast Period
2020 – 2026
Primary Interviews
150+
Historical data (2018–2019) and forecast period (2019–2026)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global off-grid solar market is characterized by the presence of many local, regional, and global vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services. Vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.
The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. ABB, Canadian Solar, Schneider Electric, Jinko Solar, and Delta
Electronics are some of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology. They consider product development as their key strategy in the global off-grid solar market. Although the international players are dominating the market, regional and foreign players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period.
Market estimates by geography (2026)
InsightAsia Pacific leads with $1.46B by 2026, while Middle East and Africa is projected to grow fastest at a 8.8% CAGR.
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View Subscription Plans| REGION | 2018 | 2019 | 2026 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $754.90M | $1.04B | $1.46B | 8.6% | 47% |
| South America | $57.70M | $77.40M | $106.80M | 8.0% | 3% |
| Europe | $111.60M | $143.50M | $189.60M | 6.8% | 6% |
| North America | $100.20M | $127.40M | $166.40M | 6.5% | 5% |
| Middle East and Africa | $598.30M | $828.00M | $1.18B | 8.8% | 38% |
| Total | $1.62B | $2.21B | $3.10B | 8.4% | 100% |
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View Subscription PlansTotal Market Size
$3.10B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Solar Panel | $1.51B | 8.3% | 49% |
| Battery | $824.70M | 8.4% | 27% |
| Inverter | $540.90M | 8.6% | 17% |
| Controller | $225.10M | 8.8% | 7% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Off Grid Solar Market covering market dynamics, competitive landscape, and strategic outlook.
The Off Grid Solar Market market is projected to reach $3.10B by 2026, growing at 8.4% CAGR. The Solar Panel segment holds the largest share.
The global off-grid solar market is expected to grow substantially during the forecast period due to factors such as the increasing share of solar energy sources in the global energy mix and the growing adoption of off-grid solar equipment in developing and rural areas. However, the high initial investments required for the installation of off-grid solar equipment is likely to restrict the growth of the global market during the study period.
Electricity tariffs for businesses are higher in comparison to the residential sector. Moreover, due to the small size of business operations of SMEs, purchasing electricity in bulk from utilities is not feasible. Thus, in the long-term, SMEs pay a substantial price to purchase electricity from power grids. However, the prices for off-grid solar equipment have decreased considerably in the last three to four years. Government bodies are also encouraging business owners to switch to renewable energy resources to reduce operational costs. For instance, the Government of India introduced the Jawaharlal Nehru Solar Mission in 2010, which has been encouraging business owners across India to switch to solar PV. Off-grid solar systems offer end users a long-term, independent, and sustainable source of energy. Additionally, solar panels, in general, have a lifespan of 25 years, and users usually get their return on investment within seven to eight years. This enables the user to receive electricity free of charge for the remaining lifespan of the equipment.
The high installation cost is the primary factor why many end users refrain from installing off-grid solar equipment. Individuals or homeowners constitute a major portion of the end users in the off-grid solar market. Most of the individuals without access to electricity reside in developing countries or rural areas. These individuals generally have a low-income level, and, in many cases, depend on daily wages for their survival. Such factors make many individuals unable to make long-term investments, which may or may not yield them any profits. Government bodies in many countries have initiated different programs to increase electricity access in rural areas. However, a majority of the unelectrified areas remain unelectrified due to the high initial costs involved in installing offgrid solar equipment. Even though the prices of solar equipment have reduced in recent years, the per capita income level among individuals in rural and remote areas has not increased proportionately.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 105 companies operating in the Off Grid Solar Market market, including revenue, employee count, and market positioning where available.
Showing 105 of 105 companies
Company Headquarters: South Korea Founded: 1952 Workforce: ~10,000 Company Working: Hanwha Group is a diversified company and has products for various industries, including chemical, aerospace, mechatronics, construction, finance, and solar energy. It primarily caters to the manufacturing, construction, finance, lifestyle, and leisure industries. The company offers its off-grid solar equipment through its subsidiary Q Cells, which became a part of Hanwha Group in 2012. Q Cells operates through its manufacturing units located across South Korea, Malaysia, China, and the US. Q Cells has a technology and innovation center in Germany. It has a dedicated sales network that spans across 40 countries. Hanwha Group has a PV cell production capacity of more than 9 GW annually, and between 2012 and 2018 produced over 2.5 billion solar cells. The company has extensive operations in Asia-Pacific, North America, Europe, South America, and the Middle East & Africa.
Company Headquarters: Niestetal, Germany Founded: 1981 Workforce: ~3,124 Company Working: SMA Solar Technology AG is one of the leading companies specializing in photovoltaic solar technology. The company operates through three segments, namely, home solutions, business solutions, and large scale & project solutions. It manufactures and sells transformers, chokes, solar inverters, and monitoring systems for solar power systems. The company also offers PV inverters, battery inverters, smart module technology, DC technology, system solutions & packages, and monitoring & control systems. Moreover, the home solutions and business solutions segment contributes to the off-grid solar business of the company. Furthermore, the company also offers SMA Solar Technology AG energy management solutions and O&M services for solar photovoltaic power plants. SMA Solar Technology AG has a presence in 18 countries across the Americas, Europe, Asia-Pacific, and the Middle East & Africa. SMA Solar Technology Canada, Inc., SMA Solar India Private Limited, SMA America, and SMA new energy technology Co. Ltd are a few of the subsidiaries of the company.
Company Headquarters: Senegal Founded: 2015 Workforce: ~200 Company Working: Oolu Solar is engaged in the distribution of off-grid solar products in West Africa. The company aims to provide electricity access to the citizens in the region. It offers financing options for its customers, which has boosted sales and adoption of off-grid solar equipment in the region. The company also provides post-sales services such as battery replacement, maintenance, and system upgrades to customers in the region. It aims to provide clean energy and financial services to the 150 million people living offgrid in West Africa. Since its inception, Oolu Solar has sold over 34,000 units in West Africa.
Company Headquarters: Kenya Founded: 2011 Workforce: ~2,500 Company Working: M-KOPA Kenya is engaged in the development and distribution of solar equipment. It is focused on the development of low-cost scalable products, which can be introduced in the African market at low prices. The company’s product range is specifically made for the African market, with a focus on increasing access to electricity in the region. The company also offers financing options to the consumers, which has substantially boosted sales for the company. By the end of 2019, the company sold over 750,000 units of off-grid solar systems in the region.
Headquarters: California, US Founded: 1985 Workforce: Approximately 7,306 Company Working: SunPower Corporation is engaged in the business of crystalline silicon solar photovoltaic cells and solar panels. SunPower Corporation is also involved in research and development, and supply of solar power solutions, globally. The company operates in three main segments, namely residential, commercial, and power plants. For over three decades, SunPower Corporation solar panels generated around 18,000,000-megawatt hour (MWh) of solar power, globally and holds more than 750 patents for solar technology. SunPower Corporation offers commercial rooftop and ground-mounted solar power systems, residential mounting systems, and power plant systems, as well as utility-scale photovoltaic power plants. In addition to that, the company offers operations and maintenance services and outage restoration services. The company has prevalence in countries such as the US, Japan, and the UK and in Philippines. In 2011, SunPower Corporation became a subsidiary of global oil and gas giant, Total Energies Nouvelles Activités, USA, which bought the majority stake in the company to become a major player in the solar power industry. Also, SunPower has subsidiaries such as SunPower Malaysia Manufacturing Sdn. Bhd, SunPower Philippines Manufacturing Limited, and SunPower Technology Ltd. It competes with companies such as Trina Solar, Canadian Solar Inc., JA Solar Holdings, Yingli Solar, and Abengoa Solar.
Headquarters: Shangrao, China Founded: 2006 Workforce: More than 12,500 Company Working: Jinko Solar operates from 18 countries in 5 continents, 6 production plants in 4 countries and 21 warehouses in 9 countries, with 33 sales offices catering to the requirements of customers in more than 80 countries. It had a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon ingots and wafers, 5.0GW for solar cells, and 8.0 GW for solar modules, as of March 31, 2017. It had about 15,000 full-time workers, worldwide, with more than 19 GW cumulative shipments of solar panels until 2017 and was ranked one of the top companies for global shipment of solar modules in 2016 (6.65 GW). It is the first Chinese PV manufacturer whose modules have passed the intensive UV test in terms of IEC61345 from TUV Rheinland, which is the major international standard of the industry. Jinko Solar offers a wide range of products such as solar cells, solar module, and mounting system. Its solar panels are mainly of monocrystalline and polycrystalline structure. These solar panels are as per global specifications and conventional standards with linear performance warranty.
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Historical performance and future projections (2020–2030, USD Billion)
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