Japan Photovoltaics Market Assessment, By Type [Monocrystalline Silicon, Polycrystalline Silicon, Thin Film Cells, and Organic PV], By Grid Type (On grid, Off grid, and Hybrid), By Installation [Ground Mounted, Roof Mounted, Building Integrated Photovoltaics, & Floating Photovoltaics], By Application [Solar Farms, Electronic Devices, Healthcare Facilities, Public Infrastructure, Aerospace, Construction, Military, and Defence, Transportation, and Others], By End-User [Residential, Commercial & Industrial, and Utility], By Region, Opportunities, and Forecast, FY2017-FY2031F

The Japan Photovoltaics Market is projected to reach USD 15.7 billion by FY2031 from USD 8.36 billion in FY2023 with a CAGR of 8.2% during the forecast period FY2024-FY2031.

Home>Industry Reports>Japan Photovoltaics Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

The Japan Photovoltaics Market is projected to reach USD 15.7 billion by FY2031 from USD 8.36 billion in FY2023 with a CAGR of 8.2% during the forecast period FY2024-FY2031. The surging market growth of Photovoltaics (PV) in Japan can attributed to a variety of factors such as the government's emphasis on energy security, the need for the transition towards renewable energy sources, a strong domestic manufacturing base of solar PVs, etc. Japan has limited domestic energy resources, and historically it has heavily relied on fossil fuel imports to meet its energy needs. The Fukushima disaster highlighted the vulnerability of this energy strategy. Hence, to enhance energy security and reduce dependence on imported fuels, Japan has placed a strong emphasis on expanding renewable energy sources, with solar PV being a major component of its renewable energy portfolio.

By harnessing the abundant sunlight available in the country, Japan can reduce its dependence on imported fossil fuels to meet energy demand and mitigate the risks associated with nuclear power. Moreover, solar PV provides a clean, renewable, and domestic source of energy, offering a more secure and sustainable option. An example to ensure energy security in Japan is the promotion of distributed generation by integration of residential and commercial PV systems, encouraging the installation of rooftop solar panels in homes and businesses across the country. For example, The Ministry of Economy, Trade and Industry had announced that it will create a new category for rooftop solar in its feed-in tariff program, with plans to offer around 12 yen (9 cents) per kilowatt-hour, which is almost 20% to 30% more than that of solar power generated on open land.

Hefty Investment in the R&D

Like many other countries, Japan is committed to transitioning towards a more sustainable and low-carbon energy system. Investing in solar PV research and development supports this goal by promoting the adoption of renewable energy sources including solar energy and reducing greenhouse gas emissions. By investing in solar PV R&D, the government aims to maintain and enhance its position as a leader in solar energy. This includes developing more efficient solar panels, improving energy storage systems, and advancing grid integration capabilities.

The National Institute of Advanced Industrial Science and Technology (AIST) in Japan has been actively involved in the development of solar cells, which are known for their higher efficiency and performance. AIST is dedicated to enhancing the performance and integration techniques for CIGS solar cells, as well as developing high-efficiency, cost-effective thin-film silicon solar cells and high-performance organic solar cells. Furthermore, they also aim to improve the reliability of photovoltaic modules. Such investments made by the Japanese government in the R&D programmes can improve its technological advancements thereby leading to extensive market growth in future.

Burgeoning Demand for Solar Parks

Japan, being a densely populated country with limited available land, faces challenges in finding suitable sites for solar installations. The rise in the number of such solar parks is augmenting the market growth which in turn is increasing the demand for Solar PVs in order to meet the electricity needs in Japan. Solar parks optimize land utilization by concentrating a large number of solar panels in a single location. For example, Softbank has successfully completed the construction of a large-scale solar park with a capacity of 102.3 MW in Hokkaido, Japan. This solar park is supported by a significant energy storage system consisting of 27 MWh of lithium-ion batteries. The project occupies an area of 132 hectares near the town of Yakumo. Notably, the solar park incorporates the largest operational solar-plus-storage power plant in Japan. The generated electricity from the solar park is sold to Hokkaido Electric Power. The total power generation from the project is expected to meet the annual electricity needs of approximately 27,965 households.

Government Schemes

The Japanese government is sheer focusing on the improvisation of the quality of solar PVs in Japan and has adopted myriad schemes in order to achieve the same. Moreover, it has been estimated that these schemes will indeed yield fruitful growth in the demand for solar PVs in Japan in the coming years. Japan introduced Feed-in Tariff Scheme to incentivize renewable energy development, including solar PV. The program guarantees long-term contracts and fixed electricity prices for solar power producers, providing stability and financial viability for solar PV projects. The Feed-in Tariff system was implemented with the aim of encouraging investments in renewable energy generation, including solar power, by providing long-term purchasing guarantees for electricity. This mechanism enhances the prospects of recovering the substantial initial expenses associated with constructing renewable energy plants. In Japan's Feed-In-Tariff system, electric utilities and retailers procure electricity generated from renewable sources at prices and contract durations determined by the Ministry of Economy, Trade, and Industry.

To cover the renewable energy component of the overall power supply, end-users pay an additional fee or surcharge. Hence it can be deciphered that such initiatives, and regulations being introduced by the Japanese government will lead to an exponential market growth rate in the future.

Impact of COVID-19

The PV industry relies on global supply chains for components like solar panels, inverters, and mounting systems. The pandemic disrupted international trade and caused delays in the delivery of these components, affecting project timelines and installation schedules. Pandemic-related restrictions, including lockdowns and social distancing measures, resulted in temporary halts or delays in construction activities. This impacted the completion of solar panel installation projects, leading to potential revenue losses for project developers and installers, which in turn, adversely impacted the market for photovoltaics in Japan. Moreover, the economic slowdown caused by the pandemic led to an increase in electricity demand. In Japan, reduced industrial activity and lower overall energy consumption potentially dampened the immediate demand for PV installations.

Japan Photovoltaics Market: Report Scope

"Japan Photovoltaics Market Assessment, Opportunities, and Forecast, FY2017-FY2031" is an extensive report published by Markets & Data. The report offers a detailed analysis and evaluation of the present state of the photovoltaics market in Japan, including insights into industry dynamics, potential opportunities, and forecasts for the period from FY2024 to FY2031. Moreover, the report provides profiles of key industry players, highlighting their market share, business models, competitive intelligence, and other relevant information.

 

Report Attribute

Details

Base Year of the Analysis

FY2023

Historical Period

FY2017-FY2022

Forecast Period

FY2024-FY2031

Projected Growth Rate

CAGR of 8.2% between FY2024-FY2031

Revenue Forecast in FY2031

USD 15.7 billion

Units

Revenue in USD billion

Segments Covered

Type, Grid Type, Installation, Application, & End-User

Regions Covered

North (Hokkaido, &Tohoku), Central (Kanto, & Chubu), and South (Kansai, Chugoku, Shikoku, & Kyushu & Okinawa)

Key Companies Profiled

Mitsubishi Electric Corporation, Solar Frontier Co. Ltd, Luxor Solar, Kyocera Group, Panasonic Corporation, Toshiba Corporation, Solar Frontier Co. Ltd, Fujipream Corporation, JinkoSolar Japan K.K., Looop Inc, Sumimoto Electric Industries Ltd. etc.

Customization Scope

15% free report customization with purchase

Pricing and Purchase Options

Avail the customized purchase options to fulfill your precise research needs

Delivery Format

PDF and Excel through email (subject to the license purchased)

 

In this report, Japan Photovoltaics Market has been segmented into the following categories:

1.       By Type

1.1.    Monocrystalline Silicon

1.2.    Polycrystalline Silicon

1.3.    Thin Film Cells

1.3.1.Amorphous silicon

1.3.2.CIGS (Copper Indium Gallium Selenide)

1.3.3.Cadmium Telluride (CDTE)

1.3.4.Perovskite Solar Cells

1.4.    Organic PV

2.       By Grid Type

2.1.     On Grid

2.2.     Off Grid

2.3.     Hybrid

3.       By Installation

3.1.    Ground Mounted

3.1.1. Foundation Mount

3.1.2. Ballasted Footing Mount

3.1.3. Pole Mount

3.1.4. Multi-pole Mount

3.1.5. Smart Flower

3.2.      Roof-Mounted

3.2.1. Railed Mounting

3.2.2. Rail-less Mounting

3.2.3. Shared Rail Mounting

3.2.4. Flat Roof Ballasted Racking System

3.3.      Building Integrated Photovoltaics

3.4.      Floating Photovoltaics

4.       By Applications

4.1.      Solar Farms

4.2.      Electronic Devices

4.3.      Healthcare Facilities

4.4.      Public Infrastructure

4.5.      Aerospace

4.6.      Construction

4.7.      Military and Defence

4.8.      Transportation

4.9.      Others

5.       By End-User

5.1.      Residential

5.2.      Commercial & Industrial

5.3.      Utility

6.       By Region 

6.1.     North (Hokkaido, &Tohoku)

6.2.     Central (Kanto, & Chubu)

6.3.     South (Kansai, Chugoku, Shikoku, & Kyushu & Okinawa)

Key Players Landscape and Outlook

The solar photovoltaic (PV) market in Japan is experiencing significant growth, prompting international companies to focus on maintaining their market share and expanding globally through quality and brand positioning strategies. These companies are making active investments in research and development, marketing efforts, setting up numerous solar stations and expanding their distribution networks. Manufacturers are actively studying consumer behaviour to better understand their needs and preferences and are continually introducing new products to meet those demands. In April 2023, Luxor Solar, a German module manufacturer, and AirWater Inc. from Japan collaborated to offer vertical photovoltaic (PV) systems designed specifically for parking areas. These innovative systems are capable of generating an equivalent amount of energy as traditional PV carports, while occupying less space. The vertical PV system includes 460 W heterojunction solar panels, power optimizers, and vertical racks.

Key Players Operating in Japan Photovoltaics Market

·         Mitsubishi Electric Corporation

·         Solar Frontier Co. Ltd

·         Luxor Solar

·         Kyocera Group

·         Panasonic Corporation

·         Toshiba Corporation

·         Solar Frontier Co. Ltd

·         Fujipream Corporation,

·         JinkoSolar Japan K.K.

·         Looop Inc

·         Sumimoto Electric Industries Ltd.

If you can't find what you're searching for or have any custom requirements for Japan Photovoltaics Market, you may approach our team at info@marketsandata.com

Table of Contents

1.       Research Methodology

2.       Project Scope & Definitions

3.       Impact of Covid-19 on Japan Photovoltaics Market

4.       Executive Summary

5.       Voice of Customer

5.1. Product and Market Intelligence

5.2. Sources of Information

5.3. Factors Considered in Purchase Decisions

5.3.1.            Overall Expenses

5.3.2.            Facility Requirement

5.3.3.            Operational Manpower Expertise

5.3.4.            Number of Installation Units

5.3.5.            Experience in the Industry

5.3.6.            Efficiency

5.3.7.            After-Sales Support

5.4. Purpose of Installation

5.5. Demand and Supply Mechanism

5.6. Consideration and Understanding of Safety Regulations

5.7. Application of Legal Compliances

5.8. Existing User or Intended Purchaser

6.       Japan Photovoltaics Market Outlook, FY2017-FY2031F

6.1. Market Size & Forecast

6.1.1.       By Value

6.1.2.       By Volume

6.2. By Type

6.2.1.       Monocrystalline Silicon

6.2.2.       Polycrystalline Silicon

6.2.3.       Thin Film Cells

6.2.3.1.  Amorphous silicon

6.2.3.2.  CIGS (Copper Indium Gallium Selenide)

6.2.3.3.  Cadmium Telluride (CDTE)

6.2.3.4.  Perovskite Solar Cells

6.2.4.       Organic PV

6.3. By Grid Type

6.3.1.         On Grid

6.3.2.         Off Grid

6.3.3.         Hybrid

6.4. By Installation

6.4.1.       Ground Mounted

6.4.1.1.   Foundation Mount

6.4.1.2.   Ballasted Footing Mount

6.4.1.3.   Pole Mount

6.4.1.4.   Multi-pole Mount

6.4.1.5.   Smart Flower

6.4.2.         Roof Mounted

6.4.2.1.   Railed Mounting

6.4.2.2.   Rail-less Mounting

6.4.2.3.   Shared Rail Mounting

6.4.2.4.   Flat Roof Ballasted Racking System

6.4.3.       Building-integrated Photovoltaics (BIPV)

6.4.4.        Floating Photovoltaics

6.5. By Applications

6.5.1.         Solar Farms

6.5.2.         Electronic Devices

6.5.3.         Healthcare Facilities

6.5.4.         Public Infrastructure

6.5.5.         Aerospace

6.5.6.         Construction

6.5.7.         Military and Defence

6.5.8.         Transportation

6.5.9.         Others

6.6. By End-user

6.6.1.         Residential

6.6.2.         Commercial & Industrial

6.6.3.         Utility

6.7. By Region 

6.7.1.       North (Hokkaido, &Tohoku)

6.7.2.       Central (Kanto, & Chubu)

6.7.3.       South (Kansai, Chugoku, Shikoku, & Kyushu & Okinawa)

6.8. By Company Market Share (%), FY2023

7.       Market Mapping, FY2023

7.1. By Type

7.2. By Grid Type

7.3. By Installation

7.4. By Applications

7.5. By End-User

7.6. By Region

8.       Macro Environment and Industry Structure

8.1. Supply Demand Analysis

8.2. Import Export Analysis

8.3. Value Chain Analysis

8.4. PESTEL Analysis

8.4.1.       Political Factors

8.4.2.       Economic System

8.4.3.       Social Implications

8.4.4.       Technological Advancements

8.4.5.       Environmental Impacts

8.4.6.       Legal Compliances and Regulatory Policies (Statutory Bodies Included)

8.5. Porter’s Five Forces Analysis

8.5.1.       Supplier Power

8.5.2.       Buyer Power

8.5.3.       Substitution Threat

8.5.4.       Threat from New Entrant

8.5.5.       Competitive Rivalry

9.       Market Dynamics

9.1. Growth Drivers

9.2. Growth Inhibitors (Challenges and Restraints)

10.   Key Players Landscape

10.1.                     Competition Matrix of Top Five Market Leaders

10.2.                     Market Revenue Analysis of Top Five Market Leaders (in %, FY2023)

10.3.                     Mergers and Acquisitions/Joint Ventures (If Applicable)

10.4.                     SWOT Analysis (For Five Market Players)

10.5.                     Patent Analysis (If Applicable)

11.   Pricing Analysis

12.   Case Studies

13.   Key Players Outlook

13.1.              Mitsubishi Electric Corporation

13.1.1.    Company Details

13.1.2.    Key Management Personnel

13.1.3.    Products & Services

13.1.4.    Financials (As reported)

13.1.5.    Key Market Focus & Geographical Presence

13.1.6.    Recent Developments

13.2.          Solar Frontier Co. Ltd

13.3.          Luxor Solar

13.4.          Kyocera Group

13.5.          Panasonic Corporation

13.6.          Toshiba Corporation

13.7.          Solar Frontier Co. Ltd

13.8.          Fujipream Corporation,

13.9.          JinkoSolar Japan K.K.

13.10.      Looop Inc

13.11.      Sumimoto Electric Industries Ltd.

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

14.   Strategic Recommendations

15.   About Us & Disclaimer

List of Figure- Japan Photovoltaics Market

Figure 1. Japan Photovoltaics Market, By Value, In USD Billion, FY2017-FY2031F

Figure 2. Japan Photovoltaics Market, By Volume, In Gigawatts, FY2017-FY2031F

Figure 3. Japan Photovoltaics Market Share, By Type, In USD Billion, FY2017-FY2031F

Figure 4. Japan Photovoltaics Market Share, By Grid Type, In USD Billion, FY2017-FY2031F

Figure 5. Japan Photovoltaics Market Share, By Installation, In USD Billion, FY2017-FY2031F

Figure 6. Japan Photovoltaics Market Share, By Applications, In USD Billion, FY2017-FY2031F

Figure 7. Japan Photovoltaics Market Share, By End-user, In USD Billion, FY2017-FY2031F

Figure 8. Japan Photovoltaics Market Share, By Region, In USD Billion, FY2017-FY2031F

Figure 9. By Type Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 10. By Grid Type Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 11. By Installation Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 12. By Applications Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 13. By End-user Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 14. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2023

List of Table- Japan Photovoltaics Market

Table 1. Pricing Analysis of Products from Key Players

Table 2. Competition Matrix of Top 5 Market Leaders

Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

What is the market size and growth rate of Japan Photovoltaics Market?

arrowup
Heart

Japan Artificial Intelligence Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

Japan's Artificial Intelligence market has been witnessing notable progress. The Japan Artificial Intelligence market is estimated to achieve a value of USD 15.84 billion by the fiscal year 2031, showing substantial growth from USD 5.95 billion in FY....Read More

Published on

December 2023

3,300

Heart

Vietnam Commercial Vehicle Market Assessment, Opportunities and Forecast, 2016-2030F

Vietnam Commercial Vehicle Market size was valued at USD 3.07 billion in 2022 which is expected to reach USD 5.84 billion in 2030 with a CAGR of 8.37% for the forecast period between 2023 and 2030. ....Read More

Published on

December 2023

3,300

Heart

Japan Internet of Things Market Assessment, Opportunities and Forecast, FY2017-FY2031

Japan Internet of Things Market size is valued at USD 11.71 billion in FY2023, expected to reach USD 50.08 billion in FY2031 with a CAGR of 19.92% for the forecast period between FY2024 and FY2031.....Read More

Published on

December 2023

3,300

Heart

Japan Ready-To-Eat Food Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

Japan Ready-To-Eat Food Market is expected to witness a CAGR of 4.03% during the forecast period FY2024-FY2031. The market was valued at USD 8.14 billion in FY2023 and is anticipated to reach USD 11.17 billion by FY2031.....Read More

Published on

December 2023

3,300

Purchase Options

USD ($)

arrowdown

i

2,000

i

3,300

i

4,500

i

7,000

Tired of Searching?

Looking for Customization?

Some other doubt?

Need insights from a cohort?

REACH US

    icon_Five
    17, Okhla Industrial Estate Phase 3 Rd, Okhla Phase III, Okhla Industrial Estate, New Delhi, Delhi 110020
    call_Two
    +91 11 42343567
    icon_Six
    info@marketsandata.com
icon_Seven
5741 Cleveland street, Suite 120, VA beach, VA, USA 23462
call_Three
+1 (757) 343-3258
icon_Eight
190 Middle Road, # 14-10 Fortune Centre, Singapore -188979