Market Size of Southeast Asia Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 10.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Solar Energy Market Analysis
The Southeast Asia Solar Energy Market is estimated to be at 27 GW by the end of this year and is projected to reach 43 GW in the next five years, registering a CAGR of over 10.2% during the forecast period.
- Over the medium term, factors such as increasing renewable energy installation to reduce carbon emissions and the decreasing price of solar PV modules drive the market for solar Energy.
- On the other hand, the increasing adoption of alternative renewable technologies like hydropower is expected to hinder market growth during the study period.
- Nevertheless, supportive government policies towards renewable Energy and technological advancements in solar energy equipment are expected to increase the opportunity for solar energy companies to install solar PV plants in the region during the upcoming years.
- Vietnam is expected to be the largest market in Southeast Asia due to its increasing demand for electricity and the rising number of renewable energy installations, and their connection to the country's grid.
