Solar Tree Market: Introduction

  • Solar power tree is an assembly that is designed akin a tree with branches made of steel to hold photovoltaic panels. It is an independent unit that produces green energy and provides energy for a range of services.
  • It is a ground mounted solar system with a pole that supports many individual panels up in the air
  • Solar trees can be placed in residential and urban areas, schools and universities, courtyards, parks, and along hiking trails

Key Drivers and Restraints of Solar Tree Market

  • Increase in awareness about the use of solar energy and favorable initiatives toward promotion of renewable energy are major factors driving the global solar tree market
  • Solar tree possesses unique properties in terms of height and multi-angle orientation parameters. Solar tree requires less space compared to traditional solar farm due to the height parameter. This can lower the installation cost. At the same time, this parameter eliminates the necessity to install solar trackers. This further reduces the operational cost.
  • Implementation of stringent regulations to support environmental conservation is prompting the power industry to shift to clean and eco-friendly energy resources. Furthermore, the cost of electricity generated using solar energy is expected to decline in the near future owing to technological developments. This is anticipated to create substantial opportunities for the solar tree market in the near future. However, high initial investments and lack of skilled professionals are major factors restraining the global solar tree market.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report

Schools & Universities Segment to Offer Lucrative Opportunities

  • The global solar tree market can be segmented in terms of connectivity, component, application, and region
  • In terms of connectivity, the global market can be bifurcated into on-grid and off-grid.
  • Based on component, the global solar tree market can be divided into solar PV modules, battery, cables & connectors, and others
  • In terms of application, the global solar tree market can be classified into residential areas, schools & universities, recreational parks, mountainous regions, and others. The schools & universities segment dominated the global market in 2018, owing to large-scale installation of solar trees in the U.S. and Europe-based universities.
  • Based on end-user, the global solar tree market can be segregated into residential, commercial & industrial, and utilities

North America to Hold Major Share of Global Solar Tree Market

  • Based on region, the global solar tree market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • North America dominated the global solar tree market in 2018. This trend is estimated to continue during the forecast period. Growth in investments in solar installation is the major factor driving the market in the region.
  • The U.S. led the solar tree market North America in 2018. In November 2019, Pace University of New York installed a solar tree on its Pleasantville campus with the support of Consolidated Edison Company of New York.
  • The market in Asia Pacific is expected to expand at a rapid pace during the forecast period. In terms of revenue, China, Japan, India, and Australia are major contributors to the solar tree market in Asia Pacific.
  • Europe is estimated to contribute significantly to the global solar tree market during the forecast period

Expanding operations in future? To get the perfect launch ask for a custom report

Key Players in Global Market

The global solar tree market is highly concentrated, with top manufacturers accounting for approximately 40% to 45% share. Key players operating in the global solar tree market include:

  • Spotlight Solar
  • JIP Tech
  • Nessa
  • Envision Solar

Major Developments

  • In May 2017, the French town of Nevers installed Europe’s first ever solar panel tree. This futuristic installation enables users to charge cell phones, surf the Internet, charge an electric bike, and distribute fresh water.
  • In July 2016, India’s Union Minister for Science & Technology and Earth Sciences launched the ‘Solar Power Tree’ in New Delhi. It has been developed by the Central Mechanical Engineering Research Institute, a constituent laboratory of Council of Scientific and Industrial Research (CSIR-CMERI).
  • In March 2014, Hannah Solar, the largest full service solar integrator and renewable energy solutions provider, installed the first ‘solar energy tree’ structure in the state of Georgia. Designed and manufactured by Spotlight Solar, these structures have been “planted” at the Hannah Solar headquarters in Atlanta, Georgia.

Global Solar Tree Market: Research Scope

Global Solar Tree Market, by Connectivity

  • On-grid
  • Off-grid

Global Solar Tree Market, by Component

  • Solar PV Modules
  • Battery
  • Cables & Connectors
  • Others

Global Solar Tree Market, by Application

  • Residential Areas
  • Schools & Universities
  • Recreational Parks
  • Mountainous Regions
  • Others

Global Solar Tree Market, by Application

  • Residential
  • Commercial & Industrial
  • Utilities

Global Solar Tree Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Sweden
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Solar Tree Market

Pre Book