Market Forecast By Application (Commercial, Industrial) And Competitive Landscape
Product Code: ETC4378005 | Publication Date: Mar 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 105 | No. of Figures: 26 | No. of Tables: 9 |
Bangladesh Solar Rooftop/Ground Mount Market is witnessing steep growth as the market has crossed its inflexion point and has entered the growth phase. However, it has been highly irregular and volatile on account of several factors such as international price level changes and supply chain disruptions as the market is heavily dependent on imports, land constraints, and high-density population, due to this factor, land acquisition is a major challenge among the players with frequent protests and strikes regarding the same worsening the Bangladesh solar outlook. However, despite its limitations and challenges the solar market has successfully been able to install their first mega projects in solar energy in 2021 and 2022 with 100 Megawatt and 275 Megawatt in Begarhat and Sundarganj. Thus, the Bangladesh Solar Rooftop/Ground Mount Industry in future would also witness mega projects like these but the irregularity in such large projects would continue in the country in near future due to the above-mentioned factors.
According to 6Wresearch, Bangladesh Solar Rooftop/Ground Mount market revenue is projected to grow at a CAGR of over 27.8% during 2023E-29F. The market in the coming future would witness healthy growth on the back of government initiatives such as full tax exemption till 2035 for those who started operating before 31st December 2022 and support such as high PPA tariff compared to other neighboring countries to the industry, rising positive attitude regarding solar energy among the factory owners and rising investments in the solar sector.
The recent commissioning of the 275 MW solar park developed in 14 months has shown that large projects can be effective and with limited time will take place in the country, however, the large ground-mounted project is still a risky investment for outsiders in the country. Thus, the market would likely witness low frequency and irregularity in large ground mount projects in the near future.
The industrial sector accounts for 98.8% of the overall revenues of the Solar Rooftop/Ground Mount Market in Bangladesh as the country is predominantly an export-based country, thereby, to sustain its booming economy, it is crucial for industrial enterprises to adopt cost-efficient sources of energy to continue competitive offering in the market.
The industrial sector would continue to dominate the solar Rooftop/Ground Mount (On-grid) market and is expected to stand at 96.5% of the total market on the back of revenue generation through land-based ground mount projects.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Overview |
3.1 Market Overview |
3.2 Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Revenues (2019-2029F) |
3.3 Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Industry Life Cycle |
3.4 Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Porter’s Five Forces Model |
3.5 Bangladesh Solar Rooftop/Ground Mount (On-grid) - Supply Chain Analysis |
3.6 Bangladesh Solar Rooftop/Ground Mount (On-grid) - PESTEL Analysis |
4. Impact Analysis of COVID-19 on Bangladesh Solar Rooftop/Ground Mount (On-grid) Market |
5. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Dynamics |
5.1 Impact Analysis |
5.2 Market Drivers |
5.3 Market Restraints |
6. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Trends & Evolution |
7. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Overview, By Applications |
8. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market - Penetration Rate (As on 2022) |
9. Bangladesh Solar Energy - Installed Capacity and Upcoming Projects Analysis |
9.1 Upcoming Projects |
9.2 Installed Solar Capacity as of 2022 |
9.3 Solar Energy Forecast |
10. Government Initiatives and Regulations |
11. Bangladesh Solar Energy - Recent Key Trends on Project Costs, PPAs and Key Developments |
12. Bangladesh Solar Energy - Key Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements |
13. Bangladesh Solar Energy - Key Strategies Adopted by Key Players |
14. Bangladesh Solar Energy - Identification of Key Potential Tie-Up |
14.1 Potential Tie-up – 1 |
14.2 Potential Tie-up – 2 |
14.3 Potential Tie-up – 3 |
15. Bangladesh Solar Energy - Target Mode of Operation to Achieve Higher Growth |
16. Bangladesh Solar Energy - Risk and Reward Analysis as Compared to India |
17. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market - Key Performance Indicators |
18. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market - Key Formalities and Regulations for Setting up a Firm in Bangladesh |
18.1 Pre-registration and Required Documents |
18.2 Registration Procedure |
18.3 Post Registration Formalities |
18.4 Licenses, Permits and Return Filing & Timeline Required for Setting up a Firm |
19. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market - Opportunity Assessment |
20. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Competitive Landscape |
20.1 Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Top 3 Companies, By Revenue Ranking (2022) |
20.2 Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Key Companies Competitive Benchmarking, By Technical Parameters |
21 Company Profiles |
21.1 Exelon Bangladesh ltd. |
21.2 Joules Power Limited |
21.3 Bangladesh China Renewable energy company Pvt ltd. |
21.4 Solar EPC Development ltd. |
21.5 Australia Bangladesh Solar Power ltd. |
21.6 Greenergy solutions limited |
21.7 B-Trac Engineering Limited |
21.8 Bangladesh Export Import Company Limited |
21.9 Orion Group |
21.10 Paramount Textile Limited |
22 Indian banks – Line of Credit Extension in Bangladesh |
23 Key Strategic Recommendations |
24 Disclaimer |
List of Figures |
1. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Revenues, 2019-2022 ($ Million) |
2. Bangladesh Rooftop/Ground Mount (On-grid) Market Installed Solar Modules, 2022 |
3. Bangladesh Rooftop/Ground Mount (On-grid) Market Installations, By Models as of 2022 |
4 . Bangladesh Export Statistics, 2018-2022 ($ Billion) |
5 . Bangladesh Manufacturing Facility Closures, 2020 |
6. Bangladesh Total RMG Exports, 2016 - 2021 ($ Billion) |
7. Bangladesh Total Textile Exports, 2020 ($ Billion) |
8. Bangladesh Electricity Generation Mix, 2022 |
9. Bangladesh Rooftop/Ground Mount (On-grid) Market Revenue Share, By Applications, 2022 & 2029F |
10. Solar Capacity Mix in Bangladesh, 2022 |
11. Bangladesh Solar Capacity Forecast, (2022-2030F) |
12. PPA Tariff by Neighbouring Countries 2020, $ per kWh |
13. Project Cost in Bangladesh, 2021 & 2022, $ per Watt |
14. 1 Kilowatt Electricity Price, 2022, $ |
15. Average Price for a Kilowatt Solar Panel, 2022 in, $ |
16. India and Bangladesh Population Density, (2011-2020) |
17. Installation Cost per Watt, 2022 in $ |
18. Corruption Index Out of 180 Countries, 2022 |
19. Solar Capacity Additions in India and Bangladesh, 2019 & 2021, Megawatt |
20. FDI Net Inflows, 2018-2021, $ Billion |
21. Bangladesh Textile Manufacturer Share Region-Wise, FY’21 |
22. Bangladesh Peak Total Energy Consumption, kilotonne of oil equivalent, 2016-2021 |
23. Bangladesh Peak Electricity Demand, Megawatt, 2022-2027F |
24. Bangladesh Solar Rooftop/Ground Mount (On-grid) Market Opportunity Assessment, by Applications, 2029F |
25. Bangladesh Top 3 EPC Contractor Companies Ranking based on Revenues, 2022 |
26. Bangladesh Top 3 IPP Companies Ranking based on Revenues, 2022 |
List of Tables |
1. Bangladesh Import Duties, 2022 |
2. Bangladesh Electricity Generation Installed Capacities, Megawatt, 2022 |
3. Bangladesh Solar Rooftop/Ground Mount Market Revenues, by Applications, 2019-2029F, ($ Million |
4. Bangladesh Large Solar On-grid Projects Pipeline, 2022 |
5. Bangladesh Approved Solar Module for Net Metering Programme, Feb’2023 |
6. Bangladesh Approved Grid Tied Inverters for Net Metering Programme, Feb’2023 |
7. Bangladesh Recent Solar Power Purchase Agreements, 2022 & 2023 |
8. Indian Banks operating in Bangladesh |
9. Bank Comments Regarding Line Extension in Bangladesh |