Crystalline Silicon PV Market
Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and Industry Forecast, 2014-2022
Introduction The global Crystalline Silicon Photovoltaic (PV) Market is expected to garner $163 billion by 2022, registering a CAGR of 11.3% during the period 2016-2022 Crystalline silicon is the foremost semiconducting material widely used in photovoltaic technology Presently, rise in demand for greater efficiency and increased application of crystalline silicon in photovoltaic (PV) technology as it is more space efficient and cost-effective compared to thin film semiconducting material are some of the major factors that drive the market growth Highest installation capacity of crystalline silicon PV in utility-scale enabled this sector to dominate the overall solar PV market Moreover, improvement in renewable energy expenditure further boosts the installation of residential solar PV in Asian countries, particularly in China, Japan, and India.
Key Factors of the Market • Presently, energy efficiency is one of the major concerns among solar module manufacturers as collection efficiency of solar energy is very less. c-Si has the highest energy efficiency among other PV technologies • Crystalline silicon PV market has significant growth potential as the market is full of opportunities owing to shift of consumers from conventional energy sources to natural energy sources •
Crystalline silicon solar panels are predominantly used in solar systems owing to its various advantages over other semi-conductor material based solar panels such as amorphous silicon and non-silicon materials
• Rise in electricity consumption coupled with increase in government expenditure in photovoltaic technology worldwide are expected to provide huge impetus to the market growth
Crystalline Silicon PV Market
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Key Benefits of the Market •
In 2014, multi-crystalline type led the overall crystalline silicon PV market revenue, and is projected to grow at a CAGR of 8.7% during the forecast period
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Residential segment is expected to grow at a notable growth, owing to the increased solar PV installation worldwide to satisfy unpredictable household electricity demand
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Presently Asia pacific leads the world crystalline silicon PV market and it is expected to continue this trend throughout the forecast period owing to the swift rise in electricity demand from several countries including China, Japan and India
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China is the major shareholder accounting for about half of the market share in overall Asia-Pacific crystalline silicon PV market
Market Segmentation
Market Segmentation
Key Players of the Market • • • • • • • • •
Hanwha Q CELLS Co. Ltd. Evergreen Solar Inc. JA Solar Holdings Yingli Solar Sharp Corporation Jinko Solar Canadian Solar Inc. China Sunergy, First Solar Inc., and SunPower Corporation
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