Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Solar Cells and Modules market. Market segmentation includes Technology (Crystalline Silicon, Thin Film); Application (Industrial, Commercial, Residential).
Solar cells or photovoltaic cells are defined as individual units of small silicon coated plates made of glass, plastic and other materials, which when exposed to sunlight, convert light energy into electricity at the basic atomic level. While several countries have attained grid parity, novel markets in developing regions are emerging for solar. Cost of solar is declining owing to government incentives, excess supply of components, and technological developments. The world market for solar cells and modules is on a growth path, supported by the growing demand for electricity, rising investments in the renewable energy sector, and favorable government policies globally which are encouraging the deployment of solar-based systems. Various governmental schemes such as feed in tariff, reduced import duty, financial assistance, net metering, subsidies, and tax benefits are expected to fuel the adoption of solar cell modules. The enforcement of strict governmental regulations to reduce adverse impacts on the environment is also anticipated to augment focus on renewable energy resources, such as solar energy. Growing number of energy storage systems in the residential sector that are equipped with solar PV charging panels, is boding well for the solar cells modules market. Rising adoption of decentralized energy production systems especially in developing economies is expected to draw attention towards solar energy. Efforts related to off-grid electrification which include solar PV systems are likely to provide impetus to the solar cell modules market. Further, technological developments associated with lowering the production costs and enhancing performance efficiency are likely to fuel demand. Demand for solar cells is anticipated to grow on account of growing adoption of PV systems in utility, residential, and commercial applications. Technological developments in addition to increasing production capacity are likely to lead to a fall in the cost of systems, which will aid market growth. However, the market is facing challenges due to slump in silicon production, which has resulted in short supply of raw materials. Further, increased costs and the absence of proper infrastructure are expected to impede market growth.
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 1556. Among this pool, 282 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 62 unique participations, a total of 28 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
Key Competitors Covered in the Report -
BYD Co., Ltd.
First Solar, Inc.
Canadian Solar, Inc.
JA Solar Holdings Co., Ltd.
JinkoSolar Holding Co., Ltd.
Elkem Silicones, A Bluestar Company
Segments Covered in the Report -
Technology (Crystalline Silicon, Thin Film)
Application (Industrial, Commercial, Residential)
Geographies Analyzed in the Report -
Rest of Europe
Rest of Asia-Pacific
Rest of Latin America
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.