Market Overview:
The global PV junction box market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for solar energy across the globe. In addition, the growing awareness about renewable energy sources is also propelling the growth of this market. The global PV junction box market can be segmented on the basis of type, application and region. On the basis of type, it can be divided into below 1W, 1W-5W, 5W-10W and above 10 W segments. Among these segments, above 10 W segment is expected to witness highest growth rate during forecast period owing to increase in installation of large scale solar projects across different regions globally. On the basis of application, it can be classified into laser projector, light source and others applications such as traffic signals & signs etcetera .
Product Definition:
A PV junction box is a weatherproof enclosure used to house electrical wiring and PV modules. It provides a convenient means for connecting PV modules in series or parallel, and for routing the output cables from the array. The importance of a PV junction box is that it provides an easily accessible, safe place to make connections between solar panels and inverters.
Below 1W:
Below 1W power is the lowest possible power that can be supplied to a photovoltaic module. It is also known as sub-wattage and represents the lowest possible output of electric current from a solar cell. The amount of energy produced by one watt of below 1W power is approximately equivalent to that produced by four average size light bulbs.
The market for below 1W, it's usage.
1W to 5W:
1W to 5W is a range of power supply units that are used in photovoltaic (PV) junction boxes. These boxes are used for mounting on the roof of a building and collecting solar energy. The 1W to 5W power supply unit consists of an output rating between 1 W and 5 W, which can provide enough electricity for powering various devices such as LED lightings, electronic equipment, etc.
Application Insights:
Based on the application, the market has been segmented into laser projector, light source, others and unclassified. The light source segment dominated the overall market in terms of revenue share in 2017. PV junction boxes with a built-in LED light sources are used for indoor applications including retail stores and corporate offices. The growing demand for energy efficient lighting solutions is expected to drive product demand over the forecast period.
The laser projector application is projected to grow at a CAGR of XX% from 2018 to 2030 owing to increasing adoption across end-use industries such as education and hospitality among others which require large scale installations with high reliability requirements. Growing awareness regarding renewable energy along with government initiatives promoting its usage is expected fuel industry growth over the forecast period particularly in North America and Europe regions where most of these projects are taking place currently.
Regional Analysis:
Asia Pacific region accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. China accounts for a major share in this regional market owing to increasing demand from various application segments, such as laser projector, light source, others. The growing adoption of digital signage across retail stores and corporate buildings in countries such as Japan and India is also anticipated to drive regional growth over the next eight years.
North America region was valued at USD X million in 2017 owing to high acceptance of technology among end-users including educational institutes, corporate buildings, retail stores etc., especially U.S., which has been witnessing an increase in investments on digital signage since past few years along with rising number of SMBs/Midsized businesses (MSBs). Europe PV junction box industry is likely to witness significant growth due to increasing deployment of video surveillance systems across several commercial establishments including airports & railway stations & government offices particularly UK will drive regional demand during the forecast period.
Growth Factors:
- Increasing demand for solar energy due to global warming and rising electricity costs
- Government initiatives and subsidies for installation of PV systems
- Technological advancements in PV junction boxes that improve performance and reduce cost
- Growing demand from developing countries with high potential for solar energy deployment
- Rising awareness about the benefits of using solar energy
Scope Of The Report
Report Attributes
Report Details
Report Title
PV Junction Box Market Research Report
By Type
Below 1W, 1W to 5W, 5W to 10W, Above 10W
By Application
Laser Projector, Light Source, Others
By Companies
Opt Lasers (Tomorrow’s System), Sumitomo Electric Industries, SwissLas, Kvant Lasers, Elite Optoelectronics, RGB Laser System, TriLite Technologies, Aten Laser, CQ Laser Technologies
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
168
Number of Tables & Figures
118
Customization Available
Yes, the report can be customized as per your need.
Global PV Junction Box Market Report Segments:
The global PV Junction Box market is segmented on the basis of:
Types
Below 1W, 1W to 5W, 5W to 10W, Above 10W
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Laser Projector, Light Source, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Opt Lasers (Tomorrow’s System)
- Sumitomo Electric Industries
- SwissLas
- Kvant Lasers
- Elite Optoelectronics
- RGB Laser System
- TriLite Technologies
- Aten Laser
- CQ Laser Technologies
Highlights of The PV Junction Box Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Below 1W
- 1W to 5W
- 5W to 10W
- Above 10W
- By Application:
- Laser Projector
- Light Source
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the PV Junction Box Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A PV junction box is a device that allows solar panels to connect to the grid. It contains all of the electrical connections between the panels and the power source, such as an inverter or a battery.
Some of the major players in the pv junction box market are Opt Lasers (Tomorrow’s System), Sumitomo Electric Industries, SwissLas, Kvant Lasers, Elite Optoelectronics, RGB Laser System, TriLite Technologies, Aten Laser, CQ Laser Technologies.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 PV Junction Box Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 PV Junction Box Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 PV Junction Box Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the PV Junction Box Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global PV Junction Box Market Size & Forecast, 2020-2028
4.5.1 PV Junction Box Market Size and Y-o-Y Growth
4.5.2 PV Junction Box Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Below 1W
5.2.2 1W to 5W
5.2.3 5W to 10W
5.2.4 Above 10W
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Laser Projector
6.2.2 Light Source
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global PV Junction Box Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 PV Junction Box Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Below 1W
9.6.2 1W to 5W
9.6.3 5W to 10W
9.6.4 Above 10W
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Laser Projector
9.10.2 Light Source
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Below 1W
10.6.2 1W to 5W
10.6.3 5W to 10W
10.6.4 Above 10W
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Laser Projector
10.10.2 Light Source
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Below 1W
11.6.2 1W to 5W
11.6.3 5W to 10W
11.6.4 Above 10W
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Laser Projector
11.10.2 Light Source
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Below 1W
12.6.2 1W to 5W
12.6.3 5W to 10W
12.6.4 Above 10W
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Laser Projector
12.10.2 Light Source
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Below 1W
13.6.2 1W to 5W
13.6.3 5W to 10W
13.6.4 Above 10W
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Laser Projector
13.10.2 Light Source
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 PV Junction Box Market: Competitive Dashboard
14.2 Global PV Junction Box Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Opt Lasers (Tomorrow’s System)
14.3.2 Sumitomo Electric Industries
14.3.3 SwissLas
14.3.4 Kvant Lasers
14.3.5 Elite Optoelectronics
14.3.6 RGB Laser System
14.3.7 TriLite Technologies
14.3.8 Aten Laser
14.3.9 CQ Laser Technologies
