Solar Cells Market Outlook by Global Trends, Opportunities and Industry Forecast to 2024
Category: #technology  By Ronak Bora  Date: 2020-01-15
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Solar Cells Market Outlook by Global Trends, Opportunities and Industry Forecast to 2024

Polycrystalline solar cells market is likely to register gains at 10% or more over the forecasted timeframe owing to low production cost and high efficiency rate. Better transparency and flexibility along with rising use among the commercial and residential sectors will intensify the product demand in the years to come.

Global solar cells market share will rise exponentially in the coming years owing to initiatives undertaken by governments and other regulatory authorities to promote sustainable methods of energy. Fiscal benefits such as low import duty, financial assistance, subsidy, tax benefits and net metering provided by the governments of developing nations will further support the product demand worldwide.

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Reportedly, over 1 billion of the global population have no or limited access to electricity and the measures taken by regulatory authorities towards electrification in off-grid locations will augment global solar cells industry forecast.

International Finance Corporation and the World Bank have launched various programs, for instance the “Lighting Africa”, an initiative to promote the use of photovoltaic products over conventional sources of lighting among off grid population. Burgeoning demand for electricity to meet basic needs coupled with global initiatives undertaken to ensure adoption of renewable sources of energy will amplify solar cells industry.

In terms of technology, crystalline silicon cells are showcasing widespread application owing to low cost when compared to other technological mechanisms. Reportedly, crystalline silicon solar cells market share is projected to witness rapid adoption over the forecast period.

Reportedly, residential solar cells market was estimated at 11 GW in the year 2015. Rising demand for clean and reliable electricity is encouraging the installation of photovoltaic systems in the commercial sector. Additionally, the engagement of lucrative power purchase agreements along with enhanced grid parity will outline the industry demand.

Regionally, Asia Pacific is expected to emerge as profitable revenue terrain through the adoption of solar cells in the coming years. China accounted for nearly 45% of global market revenue share in 2015. Stringent regulations set by the Government of India to promote the use of solar energy will also complement the APAC industry share. 

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Prominent industry players anticipated to outline global solar cells market outlook over the next few years include Moser Baer India Ltd, Yingli, Tata Power Systems Ltd, Solar World and GreenBrilliance, among several others.

Some Points From Table Of Content: -

Chapter 4     Solar cells Technology Insights

4.1    Solar cells industry share by technology, 2015 & 2024

4.2    Crystalline Silicon PV Cells

4.2.1      Global market estimates and forecast from crystalline silicon PV Cells, 2013 - 2024

4.2.2      Global market volume from crystalline silicon PV Cells, by region, 2013 - 2024

4.2.3      Global market revenue from crystalline silicon PV Cells, by region, 2013 - 2024

4.3    Thin Film PV Cells

4.4    Ultra Thin Film PV Cells

Chapter 5     Solar cells Product Insights

5.1    Solar cells industry share by product, 2015 & 2024

5.2    Monocrystalline

5.2.1      Global market estimates and forecast from monocrystalline, 2013 - 2024

5.2.2      Global market volume from monocrystalline, by region, 2013 - 2024

5.2.3      Global market revenue from monocrystalline, by region, 2013 - 2024

5.3    Polycrystalline

5.3.1      Global market estimates and forecast from polycrystalline, 2013 - 2024

5.3.2      Global solar cells market volume, by region from polycrystalline, 2013 – 2024

5.3.3      Global market revenue from polycrystalline, by region, 2013 - 2024

5.4    Cadmium Telluride (CDTE)

5.5    Amorphous Silicon (A-Si)

5.6    Copper Indium Gallium Diselenide

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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