Global Off-Grid Solar Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

Solar Panels, Batteries, Controllers and Inverters.

By Application;

Residential and Non-Residential.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn403217582 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Off-Grid Solar Market (USD Million), 2021 - 2031

In the year 2024, the Global Off-Grid Solar Market was valued at USD 3,024.22 million. The size of this market is expected to increase to USD 5,387.93 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.6%.

Key drivers underpinning this growth include the increasing integration of solar energy into the global energy mix. As sustainability becomes a focal point in the energy sector, solar power emerges as a pivotal component due to its renewable nature and minimal environmental impact. Furthermore, the expansion of off-grid solar energy usage, particularly in rural and underdeveloped areas, serves as a significant catalyst for market growth. Off-grid solar solutions offer a reliable and sustainable source of electricity, addressing the energy needs of communities that lack access to centralized power grids.

Rural and underdeveloped regions, characterized by limited or nonexistent access to traditional electricity infrastructure, represent prime markets for off-grid solar solutions. These areas often face challenges related to energy access, hindering socio-economic development. Off-grid solar systems provide a viable solution by offering decentralized electricity generation, empowering communities and facilitating progress. Moreover, advancements in off-grid solar technology, coupled with declining costs, are making these solutions increasingly accessible and cost-effective for a broader range of end-users.

The projected growth of the off-grid solar market signifies a paradigm shift towards decentralized and sustainable energy solutions. As governments and organizations worldwide prioritize energy access and environmental sustainability, off-grid solar solutions are poised to play a pivotal role in achieving these objectives. By expanding access to clean and reliable electricity, off-grid solar technologies contribute to socio-economic development, environmental conservation, and energy security on a global scale.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Off-Grid Solar Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Falling solar panel and battery costs
        2. Government support and initiatives
        3. Growing demand for electricity in developing regions
      2. Restraints
        1. High upfront costs
        2. Lack of financing options
        3. Limited awareness
      3. Opportunities
        1. Innovation in solar technology
        2. Pay-as-you-go models
        3. Focus on productive applications
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry

  5. Market Segmentation
    1. Global Off-Grid Solar Market, By Type, 2021 - 2031 (USD Million)
      1. Solar Panels
      2. Batteries
      3. Controllers
      4. Inverters
    2. Global Off-Grid Solar Market, By Application, 2021 - 2031 (USD Million)
      1. Residential
      2. Non-Residential
    3. Global Off-Grid Solar Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. SCHNEIDER ELECTRIC
      2. CANADIAN SOLAR
      3. ENGIE
      4. SMA SOLAR TECHNOLOGY
      5. JINKO SOLAR HOLDING CO., LTD
      6. SUNPOWER CORPORATION
      7. HANWHA GROUP
  7. Analyst Views
  8. Future Outlook of the Market