China PV Monitoring Systems Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.55 Billion |
| Market Size (2029) | USD 11.45 Billion |
| CAGR (2024 - 2029) | 15.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China PV Monitoring Systems Market Analysis
The China PV Monitoring Systems Market size is estimated at USD 5.55 billion in 2024, and is expected to reach USD 11.45 billion by 2029, growing at a CAGR of 15.70% during the forecast period (2024-2029).
- Over the medium term, factors such as favorable government policy and the promotion of solar installations are expected to drive the demand for PV monitoring systems during the forecast period.
- On the other hand, rising emphasis on other alternative clean energy sources is expected to hinder the PV monitoring systems market.
- Nevertheless, technological advancements and upgradation in solar PV systems create ample opportunities for the PV monitoring systems market players.
China PV Monitoring Systems Market Trends
Residential Segment Expected to Witness Significant Growth
- In China, the electricity demand in the residential sector increased annually. According to the Statistical Review of World Energy 2023, the primary energy consumption in China reached 159.39 exajoules. This, in turn, will increase the installation of solar PV systems in the residential sector.
- As of 2022, China was the largest market for solar energy installed capacity, with approximately 29GW. According to the International Renewable Energy Agency, the cost of solar PV installation in the residential sector declined from USD 2856/kW in 2012 to USD 640/kW in 2022.
- In March 2022, Cainiao Network installed the PV power generation systems on 100,000 square meters of a warehouse rooftop. These warehouses are located in Hangzhou and Ningbo in eastern China's Zhejiang Province.
- As of October 2022, according to Asia Europe clean energy advisory, China's solar cell and module production capacity will increase from 361 GW in 2021 to 600 GW at the end of 2022.
- Hence, owing to the above points, the residential segment is likely to see significant market growth during the forecast period.
Increasing Emphasis in Solar PV Installations to Drive the Market
- Solar photovoltaic (PV) is estimated to witness significant growth during the forecast period owing to the declining cost of solar modules and the flexibility of these modules for various applications like water heating, electricity generation, and others.
- Moreover, the country is heavily investing in renewable energy to reach the targeted limits of its two carbon goals; to reach peak emissions by 2030 and carbon neutrality by 2060. The country is said to be the biggest investor in renewable energy globally.
- According to International Renewable Energy Agency (IRENA), China has a total installed solar PV capacity of about 392.4 GW in 2022, witnessed an increase of 28.07% compared to last year. The government is significantly pushing to install solar PV installations.
- China's government focuses on increasing access to solar PV generation by encouraging residential and commercial users to install solar PV. By 2023, the government mandated the installation of a rooftop solar PV system in existing residential and commercial buildings.
- In March 2022, solar rooftop PV installation increased from 19.4 GW to 27.3 gigawatts in 2017 and 2021, respectively, due to the incentives and friendly policies introduced by the government to promote the adoption of solar PV, such as feed-in tariffs and declining installation costs of solar PV.
- Hence, owing to the above points, government policy is likely to drive the PV monitoring systems market during the forecast period.
China PV Monitoring Systems Industry Overview
China's PV monitoring systems market is semi fragmented. Some of the key players in this market (in no particular order) include Huayu New Energy Technologies Co. Ltd, AISWEI Technology (Shanghai) Co. Ltd, Afore New Energy, Wuhan AG Power Co. Ltd, and Shenzhen Atess Power Technology Co. Ltd.
China PV Monitoring Systems Market Leaders
Huayu New Energy Technologies Co., Ltd
AISWEI Technology (Shanghai) Co., Ltd
Afore New Energy
Wuhan AG Power Co., Ltd.
Shenzhen Atess Power Technology Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
China PV Monitoring Systems Market News
- April 2023: RadiciGroup announced the commencement of its new factory in China. The company invested about USD 35 million in developing the new complex, situated on 36,000 square meters of land, around half occupied by production and R&D facilities. The Suzhou site's unique features include installing a continuous monitoring system to ensure the energy efficiency of the building, rooftop solar panels to produce renewable energy, and a rainwater recycling system to meet the site's water needs.
- May 2022: Solar Energy East won the EPC contract for Huaneng Jiangsu Company's Rooftop Distributed PV Power Generation Project (Phase I) in Guannan County. The amount involved is USD 105 million. The total recorded capacity of the project is 650 MW, and the first phase is about 202 MW, out of which 150 MW is for household roof installation, while the rest will be for government, industrial, and commercial roof installations.
China PV Monitoring Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Favorable Government Policies
4.5.2 Restraints
4.5.2.1 Rising Emphasis on Other Alternative Clean Energy Sources
4.6 Supply Chain Analysis
4.7 Porter's Five Force Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product
5.1.1 Hardware
5.1.2 Software
5.2 Application
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Afore New Energy
6.3.2 Wuhan AG Power Co., Ltd.
6.3.3 Shenzhen Atess Power Technology Co., Ltd
6.3.4 Yangzhou Bright Solar Solutions Co., Ltd.
6.3.5 Xiamen E-star Energy Technology Co., Ltd.
6.3.6 AISWEI Technology (Shanghai) Co., Ltd
6.3.7 Aotai Electric Co., Ltd.
6.3.8 GoodWe Technologies Co., Ltd.
6.3.9 iPotisEdge Co.,Ltd
6.3.10 Huayu New Energy Technologies Co., Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Technological Advancements and Upgradation in Solar PV Systems
China PV Monitoring Systems Industry Segmentation
PV monitoring systems collect and analyze the data in a PV plant to monitor and evaluate its performance. It keeps track of electricity generation and fault occurrences.
The China PV monitoring systems market is segmented by Product (Hardware and Software) and Application (Residential, Commercial, and Industrial). The report offers the market size and forecasts for PV monitoring systems in revenue (USD) for all the above segments.
| Product | |
| Hardware | |
| Software |
| Application | |
| Residential | |
| Commercial | |
| Industrial |
China PV Monitoring Systems Market Research Faqs
How big is the China PV Monitoring Systems Market?
The China PV Monitoring Systems Market size is expected to reach USD 5.55 billion in 2024 and grow at a CAGR of 15.70% to reach USD 11.45 billion by 2029.
What is the current China PV Monitoring Systems Market size?
In 2024, the China PV Monitoring Systems Market size is expected to reach USD 5.55 billion.
Who are the key players in China PV Monitoring Systems Market?
Huayu New Energy Technologies Co., Ltd, AISWEI Technology (Shanghai) Co., Ltd, Afore New Energy, Wuhan AG Power Co., Ltd. and Shenzhen Atess Power Technology Co., Ltd. are the major companies operating in the China PV Monitoring Systems Market.
China PV Monitoring Systems Industry Report
Statistics for the 2024 China PV Monitoring Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China PV Monitoring Systems analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
