The global Solar Cell Market was estimated at 182.4 GW in 2014. The rising demand for electricity coupled with the increasing consumer awareness concerning the benefits of renewable resources is anticipated to have a positive impact on the market growth. Moreover, rising infrastructural developments together with rapid growth in the industrial sector are estimated to drive demand over the forecast period.
The increasing demand for a reliable, clean and eco-friendly energy source to reduce the dependency on fossil fuels owing to their depletion is projected to propel demand for solar cells. The technological development in reducing the manufacturing cost and improving performance efficiency is expected to drive the solar cell market.
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The government regulations in various economies promote the utilization of solar energy systems leading to the emergence of new opportunities in the industry. Stringent government regulations related to the reduction in environmental impact are expected to drive the market demand for renewable energy resources.
The increasing demand for PV systems for utility, commercial and residential applications owing to superior efficiency and lower initial investments, is anticipated to augment the growth of solar cell market. The market is distinguished by combination in the value chain by various companies such as SolarWorld, SunEdison, and First Solar.
Global Solar Cell Product Outlook (Installed capacity, GW, 2012 - 2022)
- Silicon Wafer
- Monocrystalline
- Multicrystalline
- Thin Film
- Cadmium Telluride
- Amorphous silicon
- Copper Indium Gallium Selenide
The major players in the solar cell market include First Solar Inc., SunPower Corporation, Indosolar Limited, Sharp Corporation, SolarWorld AG, Canadian Solar Inc., GreenBrilliance, Yingli Solar, SunEdison Inc., Tata Power Systems Limited, Borg Inc., and Trina Solar Limited.
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Global Solar Cell Regional Outlook (Revenue, USD Million; 2012 - 2022)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Latin America
- MEA
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