Solar Cells Market

Solar Cells Market

Solar Cells Market Global Industry Assessment & Forecast

# Pages:

180

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0865

Segments Covered
  • By Product Polycrystalline, Monocrystalline, Cadmium Telluride (CDTE), Amorphous Silicon (A-Si), Copper Indium Gallium Diselenide
  • By Application Residential, Commercial, Utility
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 84.61 Billion
Revenue 2028: 146.58 Billion
Revenue CAGR (2022 - 2028): 7.11
Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Solar Cells market was valued at USD 84.61 Billion in 2020 and is projected to reach USD 146.58 Billion by 2028, growing at a CAGR of 7.11% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 146.58 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 7.11%

Definition And Overview

Solar cells are devices that use the photovoltaic effect to convert the energy of light directly into electricity, producing electrical charges that can move freely in semiconductors.


This report provides an exhaustive analysis on all aspects of Solar Cells industry including the market size for historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers dedicated chapters for each main segment while dedicated sections for each region cover thorough information on the drivers, restraints, opportunities and other such factors impacting global Solar Cells market. Moreover, the report also covers in depth analysis on various marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, and Player Positioning Analysis, among others. These tools are expected to aid the industry stakeholders in their decision making. 

vantage Market img 84.61 Billion 146.58 Billion

COVID-19 Impact Analysis

When the Covid19 pandemic started in China last year it sends its shock waves to countries across the globe. And as the number of cases was on the rise, it enforced the governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the impending catastrophe. These actions had a dramatic impact on the economy, as the industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. Thus, plummeting the global markets. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The report covers exhaustive analysis on the global Solar Cells industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities. 

The rising concerns and protests for dependency on fossil fuels along with favorable government policies to adopt renewable sources are expected to stimulate the market over the forecast period. 

The upcoming projects related to solar PV tracking systems along with supportive government policies and efforts to reduce reliance on fossil fuel-based power are further expected to drive the solar tracker market in the years to come. 

The high initial cost is expected to hinder the growth of the market in the years to come.

Global Solar Cells Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Canadian Solar, LONGi Solar, Hanwha Q CELLS, TONGWEI Solar, GCL-SI, NEOSolar, Yingli Green, JA Solar, Risen Energy, Motech, Trina Solar, JinkoSolar, Shunfeng, First Solar.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Product, Application, and Region. All the segments are studied considering historical and future trends across geographies. All the segments are analyzed based on trends, market size, and forecast, and the data is provided for the years 2016–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Product, the market is divided into Polycrystalline, Monocrystalline, Cadmium Telluride (CDTE), Amorphous Silicon (A-Si), Copper Indium Gallium Diselenide,. Polycrystalline held the largest share in 2020 and is projected to grow at a noteworthy CAGR within the forecast period.

Based on Application, the market is divided into Residential, Commercial, Utility,. Commercial attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Solar Cells Market: Product Segment Analysis

    • Polycrystalline
    • Monocrystalline
    • Cadmium Telluride (CDTE)
    • Amorphous Silicon (A-Si)
    • Copper Indium Gallium Diselenide

Global Solar Cells Market: Application Segment Analysis

    • Residential
    • Commercial
    • Utility

Regional Analysis Preview

Based on the geography, the global Solar Cells market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report further segments the regional study into key country-level markets from each region. The report includes a separate section covering detailed Solar Cells regional analysis based on various macro/micro factors impacting the growth of the market. The concentration of raw material suppliers as well as market players in one specific region impacts the global market scenario and the report covers exclusive information on the same.  Also, the report analyzes the intensity of competition in each region and its influence on the growth of the global Solar Cells market.     

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Solar Cells Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The global Solar Cells market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Solar Cells market are Canadian Solar, LONGi Solar, Hanwha Q CELLS, TONGWEI Solar, GCL-SI, NEOSolar, Yingli Green, JA Solar, Risen Energy, Motech, Trina Solar, JinkoSolar, Shunfeng, First Solar.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.  

FAQ
Frequently Asked Question
  • The global Solar Cells valued at 84.61 Billion in 2020 and is expected to reach 146.58 Billion in 2028 growing at a CAGR of 7.11%.

  • The prominent players in the market are Canadian Solar, LONGi Solar, Hanwha Q CELLS, TONGWEI Solar, GCL-SI, NEOSolar, Yingli Green, JA Solar, Risen Energy, Motech, Trina Solar, JinkoSolar, Shunfeng, First Solar..

  • The market is project to grow at a CAGR of 7.11% between 2021 and 2028.

  • The driving factors of the Solar Cells include

    • The rising concerns and protests for dependency on fossil fuels along with favorable government policies to adopt renewable sources are expected to stimulate the market over the forecast period.
    • The upcoming projects related to solar PV tracking systems along with supportive government policies and efforts to reduce reliance on fossil fuel-based power are further expected to drive the solar tracker market in the years to come.

  • North America was the leading regional segment of the Solar Cells in 2020.