Industry
Overview
The
report “Solar Cells Market Size By
Technology (Crystalline Silicon Cells, Thin Film Cells, Ultra-Thin Film Cells),
By Product (Polycrystalline, Monocrystalline, Cadmium Telluride (CDTE),
Amorphous Silicon (A-Si), Copper Indium Gallium Diselenide), By Grid (On-Grid,
Off Grid), By Application (Residential, Commercial, Utility), Industry Analysis
Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, Spain, France,
China, India, Japan, Australia, UAE, South Africa, Brazil, Chile, Argentina),
Growth Potential Price Trends, Competitive Market Share & Forecast, 2016 –
2024” by Global Market Insights, Inc. says Solar cells market
size is expected to record significant gains of 12% over the period of
2016-2024.
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. 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.
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.
Solar
cells find extensive applications across residential, utility, and commercial
sectors. Rising popularity of standalone systems along with heavy demand for
rooftops are expected to boost the industry growth across residential sector.
Solar cells industry size in the commercial sector is expected to grow
considerably over 2016-2024, driven by a great urge for generating clean and
reliable power.
Considering
the product trends, the industry is segmented into Cadmium Telluride, Polycrystalline,
Copper Indium Gallium Diselenide, Monocrystalline, and Amorphous Silicon.
Polycrystalline solar cells market revenue is anticipated to grow noticeably
over the next few years, driven by lower costs coupled with its enhanced use
across commercial and residential sectors.
Below are the regional highlights pertaining to
solar cells industry over 2016-2024
·
Rising preference for using
renewable energy along with stringent measures towards reduction of GHG
emissions has contributed considerably towards Europe solar cells industry
growth. UK is expected to be a major regional revenue contributor.
·
North America solar cells market
will experience an impressive/notable growth over the coming years, led by
strict rules to reduce power consumption along with preservation of green
environment. U.S. is forecast to be a key regional revenue pocket.
·
Government schemes promoting
sustainable energy use along with favorable policies such as tax benefits as
well as net metering are expected to accelerate Asia Pacific solar cells
industry growth over the coming years. China, Australia, and India are
projected to drive the regional growth.
·
High requirement for off-grid power
supply is expected to drive MEA solar cells market size considerably over the
next few years, with South Africa expected to make significant contributions
towards the regional share.
·
LATAM solar cells industry is
predicted to observe a high surge over the coming seven years, driven by high
application/use of the solar cells technology across rapidly expanding utility
and commercial (construction) projects. Brazil and Chile are expected to
contribute heavily towards the regional revenue.
Browse
key industry insights spread across 152 pages with 482 market data tables &
12 figures & charts from the report Solar
Cells Market in detail along with the table of contents:
Key
industry participants include Mitsubishi Electric Corporation, SunPower
Corporation, Yingli Solar Energy Company, Jinko Solar Photovoltaics Company,
Moser Baer India Limited, Trina Solar, First Solar Inc., Sunedison Inc., Tata
Power Solar Systems Limited, SolarWorld Photovoltaics Company, GreenBrilliance,
and Indosolar Company.
About Global
Market Insights
Global
Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom
research reports along with growth consulting services. Our business
intelligence and industry research reports offer clients with penetrative
insights and actionable market data specially designed and presented to aid
strategic decision making. These exhaustive reports are designed via a
proprietary research methodology and are available for key industries such as
chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll
Free: 1-888-689-0688
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