Solar Cells Market to grow at over 12% CAGR from 2016 to 2024: Global Market Insights Inc. 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. According to Global Market Insights, Inc. research study, “Solar cells market size is expected to record significant gains of 12% over the period of 2016-2024.� 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.
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U.S. Solar Cells Market size, by product, 2013 -2024 (USD Million)
Browse key industry insights spread across 152 pages with 482 market data tables & 12 figures & charts from 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” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/solar-cells-market Below are the regional highlights pertaining to solar cells industry over 20162024
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.
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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.
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.
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Segmentation of Solar Cells Market:
Solar Cells market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and volume (shipment) in MW from 2013 to 2024, for the following segments: Global Solar Cells Market By Technology
Crystalline Silicon PV Cells Thin Film PV Cells Ultra-Thin Film PV Cells
Global Solar Cells Market By Product
Polycrystalline Monocrystalline Cadmium Telluride (CDTE) Amorphous Silicon (A-Si) Copper Indium Gallium Diselenide
Global Solar Cells Market By Grid
On-Grid Off Grid
Global Solar Cells Market By Application
Residential Commercial Utility
The above information is provided on a regional and country basis for the following:
North America o U.S. o Canada o Mexico Europe o UK o Germany o Spain o France Asia Pacific
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China India Australia Japan Middle East & Africa o South Africa o UAE Latin America o Chile o Brazil o Argentina o o o o
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View Press Release of this Report @ https://www.gminsights.com/pressrelease/solar-cells-market
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