Tuesday, 23 May 2017

Solar Cells Market share to grow at 12% CAGR from 2016 to 2024

The Solar Cells Market trends are analyzed from recent past with an eye on coming years in this report that also offers projections for Solar Cells industry targeted at helping in business decisions.

Solar cells market is all set to witness a spectacular growth over the years ahead with the evolving demand for sustainable energy sources globally. The increasing government initiatives to promote renewable energy resources coupled with the concerns about negative environmental impact via the conventional sources will propel the solar cells industry growth over the coming years. According to Global Market Insights, Inc. “Global Solar Cells market size worth USD 35 billion in 2015 is set to record an appreciable growth rate of 12% over the period of 2016-2024.”

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In addition to the aforementioned factors, the increasing electricity demand is another vital driver for the solar cells industry. Estimates suggest that nearly 1 billion global population are deprived of reliable power supply resources, which is creating a huge growth ground for the solar cells market. The government worldwide is also actively participating to address the rising electricity demand. For instance, Government of India has approved a budget of Rs. 50 billion under NSM (National Solar Mission) for setting up Grid Connected Rooftop Systems (4.25 GW) in the country. South Africa, which is a major region facing lack of reliable electricity sources is set to register a CAGR of 12% over the period of 2016-2024.

Also, with the technological advancements, the product cost has also reduced significantly, which is in turn favoring its demand globally. In this regard, crystalline silicon technology based solar cells market will grow substantially with a target revenue of USD 65 billion by 2024. Thin film solar cells market will also witness a rapid surge over the coming years with an estimated capacity of 81 GW by 2024.

The developing countries are estimated to witness a huge adoption of these systems, owing to the growing demand for decentralized generation systems across these regions. In response to this fact, off-grid solar systems market is projected to witness a notable surge with a capacity target of 45 GW by 2024.

Solar cells market is accumulating a substantial share through its increasing applications across the residential, commercial, and utility sectors. Chile, where the execution of huge commercial and utility projects is on a peak, is estimated to contribute noticeably toward global solar cells market revenue, with a projected revenue of USD 700 million by 2024.

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The global expansion of the solar cells industry will undoubtedly increase over the coming years with the depleting conventional resources and rising power supply demands. Key participants include Mitsubishi Electric Corporation, Jinko Solar, Trina Solar, First Solar, Moser Baer India Ltd, etc.

Report Content

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 Industry 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   Growing demand for clean fuel electricity   Decreasing solar component price   Favorable government initiatives   Strict government norms towards emission
3.8.2      Industry pitfalls & challenges   Lack of awareness
3.9    Growth potential analysis
3.10  Porter’s analysis
3.11  Competitive landscape, 2015
3.12  PESTEL analysis

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:

The differentiating factor of Solar Cells market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook. Business focussed multiple trends for Solar Cells industry are discussed along with regional trends to offer an overall view of the market. The ‘industry insights’ chapter of this research provides the most comprehensive analysis of Solar Cells market covering segmentation, size, forecasts, ecosystem analysis and more. Industry impact forces (regional and global) that cover growth drivers and challenges, growth potential analysis, a strategy dashboard for competitive landscape of Solar Cells market support this sector specific data and information points.

Regionally, Global Market Insights, Inc.’s Solar Cells market research has the most in-depth, country focused estimates and forecasts for decision makers across the globe. An exhaustive list of company profiles for organizations active in the Solar Cells market supports the regional analysis and information offering a competitive outlook on the industry. For each segment analyzed in this research, whether it is by product, application, material or end-use, a regional overview with historical data and Solar Cells market forecast is provided to the reader. Such a cross-segmentation research analysis is also unique to reports by Global Market Insights, Inc.

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