Product Code: 978-1-68038-691-2
Solar Cell Market Growth & Trends:
The global solar cell market size is expected to reach USD 333.8 billion by 2030, registering a CAGR of 16.4%, owing to increasing demand for electricity coupled with rising consumer awareness regarding environmental benefits of renewable energy sources. Stringent government regulations in various economies to encourage use of solar energy through incentives and feed-in-tariffs is also anticipated to drive demand over the forecast period.
Technological advancements have led to efficient performance and reduction in manufacturing cost of the cells which is expected to fuel growth. Moreover, rising demand for eco-friendly energy sources in order to reduce dependence on fossil fuels and achieve energy security is expected to propel growth over the next seven years.
Increasing demand for PV systems in residential, utility and commercial applications is expected to have a positive impact on the industry. Increasing government support coupled with rising R&D investments in the sector is projected to propel growth. In addition, rapid development in the industrial sector together with growing infrastructure improvements particularly in emerging economies is forecasted to fuel product utilization over the next seven years.
Solar Cell Market Report Highlights:
- The polycrystalline segment accounted for 43.7% of the total revenue generated in the global solar cell market in 2023. Polycrystalline solar cells, or multi-crystalline cells, are known for their cost-effectiveness and relatively simpler manufacturing process than monocrystalline cells.
- The utility segment dominated the global solar cell market in 2023 attributed to the increasing demand for renewable energy from utility companies and the need to meet regulatory requirements for renewable energy quotas.
- Asia Pacific dominated the global solar cell market with a revenue share of 60.0% in 2023, driven by rapid industrialization, increasing energy demands, and government policies promoting renewable energy sources.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Solar Cell Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.4. Solar Cell Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
Chapter 4. Solar Cell Market: Technology Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Solar Cell Market: Technology Movement Analysis, USD Million, 2018 - 2030
- 4.3. Monocrystalline
- 4.3.1. Monocrystalline Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Polycrystalline
- 4.4.1. Polycrystalline Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Cadmium Telluride (CDTE)
- 4.5.1. CDTE Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Amorphous Silicon (A-Si)
- 4.6.1. A-Si Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.7. Copper Indium Gallium Diselenide
- 4.7.1. Copper Indium Gallium Diselenide Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Solar Cell Market: Application Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Solar Cell Market: Application Movement Analysis, USD Million, 2018 - 2030
- 5.3. Residential
- 5.3.1. Residential Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Commercial
- 5.4.1. Commercial Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Utility
- 5.5.1. Utility Solar Cell Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Solar Cell Market: Regional Estimates & Trend Analysis
- 6.1. Solar Cell Market Share, By Region, 2023 & 2030, USD Million
- 6.2. North America
- 6.2.1. North America Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Europe Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Germany
- 6.3.2.1. Germany Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. UK
- 6.3.3.1. UK Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
- 6.3.4.1. France Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5. Italy
- 6.3.5.1. Italy Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6. Spain
- 6.3.6.1. Spain Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.7. Russia
- 6.3.7.1. Russia Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. China
- 6.4.2.1. China Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. India
- 6.4.3.1. India Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. Japan
- 6.4.4.1. Japan Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. Australia
- 6.4.5.1. Australia Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6. South Korea
- 6.4.6.1. South Korea Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.3. Argentina
- 6.5.3.1. Argentina Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. UAE
- 6.6.2.1. UAE Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.3. Saudi Arabia
- 6.6.3.1. Saudi Arabia Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. South Africa Solar Cell Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles
- 7.4.1. Panasonic Corporation
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Recent Developments/Strategic Initiatives
- 7.4.2. JINERGY
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Recent Developments/Strategic Initiatives
- 7.4.3. Hevel, ReneSola
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Recent Developments/Strategic Initiatives
- 7.4.4. United Renewable Energy, LLC
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Recent Developments/Strategic Initiatives
- 7.4.5. SunPower Corporation
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Recent Developments/Strategic Initiatives
- 7.4.6. Risen Solar
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Recent Developments/Strategic Initiatives
- 7.4.7. Trina Solar
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Recent Developments/Strategic Initiatives
- 7.4.8. Jinko Solar
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Recent Developments/Strategic Initiatives
- 7.4.9. Yingli Green Energy Holding Company Limited
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Recent Developments/Strategic Initiatives
- 7.4.10. SunPower Corporation
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Recent Developments/Strategic Initiatives
- 7.4.11. Canadian Solar Inc.
- 7.4.11.1. Participant's Overview
- 7.4.11.2. Financial Performance
- 7.4.11.3. Product Benchmarking
- 7.4.11.4. Recent Developments/Strategic Initiatives
- 7.4.12. GCL-Poly Energy Holdings Limited
- 7.4.12.1. Participant's Overview
- 7.4.12.2. Financial Performance
- 7.4.12.3. Product Benchmarking
- 7.4.12.4. Recent Developments/Strategic Initiatives