Global Solar Cells Market Analysis by type (Amorphous Silicon (A-Si), Cadmium Telluride (CDTE), Copper Indium Gallium Diselenide, Monocrystalline, Polycrystalline), by application (utility, commercial and residential), by grid (on-grid and off-grid) and by technology (Thin Film PV Cells, Crystalline Silicon PV Cells, and Ultra-Thin Film PV Cells) and Forecast 2017-2025.
Solar Cell also termed as photovoltaic cell is a device which converts the energy produced from sun light into electrical energy through photovoltaic effect. Majority of solar cells are manufactured using silicon owing to increased efficiency and lower cost as compared to other materials. Solar cells helps in delivering clean, safe, and affordable and decentralized energy to the customer, which forms one of the major factors in driving the market growth.
Increasing government policies and initiatives such as tax benefits and subsidies for the promotion of renewable and clean energy resources also contributes in raising the market growth. For instance: Netherland based company, Hyet Solar announces its investment of €200 million to set up solar manufacturing plant in India. Increased concern over the adverse environmental effects caused due to the fossil fuels and growing demand for better and long lasting energy source is playing a significant role in boosting the market growth. However, the high initial cost required in the installation of the panels and energy storage devices may result in hampering the market growth.
Solar Cells Market
The global solar cells market is majorly segmented on the basis of type, application, grid and technology. Depending upon the type, market is bifurcated into: Amorphous Silicon (A-Si), Cadmium Telluride (CDTE), Copper Indium Gallium Diselenide, Monocrystalline, Polycrystalline, while on the basis of application, market is segmented into: utility, commercial and residential. On the basis of grid, market is classified into: on-grid and off-grid, while based on the technology adopted, market is bifurcated into: Thin Film PV Cells, Crystalline Silicon PV Cells, and Ultra-Thin Film PV Cells.
The geographical analysis of solar cell market covers the regions such as: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Among the regions studied, Asia Pacific is anticipated to hold the major share mainly due to increase production and installation of solar cells in China and Japan. According to International Energy Agency (IEA) in 2016 China had installed 40GW of new solar projects with the capacity of producing energy up to 78 GW, while Japan follows China with 42.8 GW installed. North America and Europe is expected to show a stable growth mainly due to the increased investment and technological advancement in the solar cells market in the countries such as Germany, UK and U.S.
The major key players operating in the solar cell market are: Borg Inc., Pionis Energy Technologies LLC., Trina Solar Limited, GreenBrilliance, Canadian Solar Inc, Tata Power Solar Systems Limited, Sharp Corporation, SunPower, Zebra Energy, Itek Energy, Alps Technology Inc, Suniva Inc., First Solar, SolarWorld AG, and JinkoSolar Holding Co. Ltd.
Global Solar Cell Market Segmentation:By Type:
- Amorphous Silicon (A-Si)
- Cadmium Telluride (CDTE)
- Copper Indium Gallium Diselenide
- Off Grid
- Thin Film PV Cells
- Crystalline Silicon PV Cells
- Ultra-Thin Film PV Cells
- Rest of Europe
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of LAMEA
Research Scope:The study for Solar Cells Market will provide market size, estimates and forecast based on the following years:
Historic data: 2015Base Year Estimate: 2016Forecast: 2017 to 2025
The report has been categorized in two distinctive sections, where the first category titled as Market Overview provides a holistic view of the market, key trends, drivers, challenges/restraints or opportunities with their current and expected impact on the overall industry sales.
Our analyst implement several qualitative tools such as Ansoff’s Matrix, PESTEL analysis, Porter’s five force analysis among other to interpret and represent key industry findings.
The second section of the study provides market size, estimates and forecast for key market segments and regional market. The final part of the report highlights key manufacturers/vendors operating in the associated market.
1.1 Market Definition
1.2. Market Scope
2.1. Primary Research
2.2. Secondary Sources
2.3. Assumptions & Exclusions
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