Global Solar Cells Market: Favorable Government Policies and Initiatives Propelling the Market Growth
According to a new report published by Reports Monitor titled, “Global Solar Cells Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Solar Cells market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Solar Cell also termed as photovoltaic cell is a device which converts the energy produced from sun light into electrical energy through photovoltaic effect. Majority of solar cells are manufactured using silicon owing to increased efficiency and lower cost as compared to other materials. Solar cells helps in delivering clean, safe, and affordable and decentralized energy to the customer, which forms one of the major factors in driving the market growth.
Increasing government policies and initiatives such as tax benefits and subsidies for the promotion of renewable and clean energy resources also contributes in raising the market growth. Increased concern over the adverse environmental effects caused due to the fossil fuels and growing demand for better and long lasting energy source is playing a significant role in boosting the market growth. However, the high initial cost required in the installation of the panels and energy storage devices may result in hampering the market growth.
This report provides a detailed analysis of Solar Cells market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources and with bottom-up and top-down approaches.
The global solar cells market is majorly segmented on the basis of type, application, grid, and technology. Depending upon the type, the market is bifurcated into: Amorphous Silicon (A-Si), Cadmium Telluride (CDTE), Copper Indium Gallium Diselenide, Monocrystalline, Polycrystalline, while on the basis of application, the market is segmented into: utility, commercial and residential. On the basis of grid, the market is classified into: on-grid and off-grid, while based on the technology adopted, the market is bifurcated into: Thin Film PV Cells, Crystalline Silicon PV Cells, and Ultra-Thin Film PV Cells.
The geographical analysis of solar cell market covers the regions such as: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Among the regions studied, Asia Pacific is anticipated to hold the major share mainly due to increase production and installation of solar cells in China and Japan. North America and Europe is expected to show a stable growth mainly due to the increased investment and technological advancement in the solar cells market in the countries such as Germany, UK and U.S.
The key players operating in the market are listed as: Borg Inc., Pionis Energy Technologies LLC., Trina Solar Limited, GreenBrilliance, Canadian Solar Inc, Tata Power Solar Systems Limited, Sharp Corporation, SunPower, Zebra Energy, Itek Energy, Alps Technology Inc, Suniva Inc., First Solar, SolarWorld AG, and JinkoSolar Holding Co. Ltd.
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