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Solar Cells Market Research Report 2020 - 2024 by Players, Regions & Trends Forecast

Author : Ronak Bora | Published Date : 2020-08-31 

Solar cells market size is expected to record significant gains of 12% over the forecast period. Effective measures to provide uninterrupted as well as clean power supply to off-grid and remote locations having poor access to electric supply, is anticipated to significantly drive the solar cells industry growth.

Strict legislations to check environmental pollution along with high popularity of clean fuel technologies is expected to push solar cells market growth over the next few years. Moreover, favorable government policies promoting solar cells installations as a part of its energy conserving initiative/strategy along with it being an effective tool for electricity/power generation, will spur the industry growth. High demand for off grid electricity plus diminishing costs of solar cell components, is projected to drive the market trends over the coming timeframe.

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Based on the technology trends, solar cells market is classified into thin film cells, crystalline silicone cells, and ultra-thin film cells. Thin film solar cells industry, valued at over USD 8 billion in 2015, is expected to experience a significant growth over the coming years, owing to its efficient functioning ability. Crystalline silicone cells technology is projected to register a considerable growth over the coming seven years, driven by its lower component costs. Ultra-thin film solar cells market value, worth USD 3 million in 2015, is expected to witness a lucrative growth over the coming seven years as a result its high efficiency & lightweight features.

Increasing demand for reliable electricity coupled with favorable polices to promote renewable energy including solar may further compliment the industry outlook. The Government of India has introduced various incentives such as accelerated depreciation, capital subsidies, tax benefits, feed in tariff and renewable energy certificates which may positively affect the overall industry growth.

Key insights from the report include:

U.S. solar cells market size was close to USD 4 billion in 2015 and is anticipated to witness gains of over 14% subject to increasing utility scale installation.

Brazil was over 52 MW in 2015, growing focus towards the development of decentralized generation systems will favor the industry growth in future.

Cadmium telluride solar cell market share was close to 8 GW in 2015 with sales potential exceeding USD 20 billion by 2024.

India solar cells market size is predicted to exceed 24 GW by 2024. Favorable policies such as net metering, tax incentives and power purchase agreement is likely to propel the industry growth in coming years.

China solar cells market share contributed over 45% of the global revenue in 2015. Soft loans, tax credits, and other special grants by the government will likely accelerate the business growth.

Ultra-thin film PV cell market technology was close to USD 3 million in 2015 and in term of volume, is witness to gain over 30% by 2024.

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Australia solar cells market size was close to USD 600 million in 2015 and in term of volume will exceed 5 GW by 2024. Government measures towards emission with initiatives such as feed-in tariffs and special rebates may favor the business.

Major participants in the industry include Jinko, Canadian, Sunedison, Trina, Moser Baer, Yingli, First Solar, SunPower Corporation, Indosolar, GreenBrilliance, SolarWorld, Tata Power, and Mitsubishi Electric Corporation.

Table of Contents (ToC) of the report:

Chapter 1     Methodology & Scope

1.1    Research Methodology

1.1.1      Initial data exploration

1.1.2      Statistical model and forecast

1.1.3      Industry insights and validation

1.1.4      Research scope and assumptions

1.2    Data Sources

1.2.1.    Primary

1.2.2.    Secondary

Chapter 2     Executive Summary

2.1    Solar cell industry 3600 synopsis, 2013 - 2024

2.1.1      Current business environment

2.1.2      Technology trends

2.1.3      Product trends

2.1.4      Grid trends

2.1.5      Application trends

2.1.6      Regional trends

Chapter 3     Solar cells Market Insights

3.1    Industry segmentation

3.2    Industry Size and forecast, 2013 – 2024

3.3    Industry ecosystem analysis

3.4    Vendor landscape

3.5    Innovation & sustainability

3.6    Regulatory framework

3.6.1      U.S.

3.6.2      India

3.6.3      Europe

3.6.4      China

3.7    Price trend analysis

3.7.1      Cost structure

3.8    Industry Impact forces

3.8.1      Growth drivers

3.8.1.1   Growing demand for clean fuel electricity

3.8.1.2   Decreasing solar component price

3.8.1.3   Favorable government initiatives

3.8.1.4   Strict government norms towards emission

3.8.2      Industry pitfalls & challenges

3.8.2.2   Lack of awareness

3.9    Growth potential analysis

3.10  Porter’s analysis

3.11  Competitive landscape, 2015

3.12  PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/solar-cells-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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