Growing use of renewable energy sources because of their advantages for the environment and rising electricity demand are predicted to drive market expansion. Demand is anticipated to increase because of technological developments aimed at lowering manufacturing costs and enhancing performance effectiveness. Additionally, it is anticipated that over the forecast period, demand for clean, dependable, and environmentally friendly energy sources would increase in response to efforts to wean the world off fossil fuels.
MARKET DYNAMICS
Over the course of the projection period, the industry is anticipated to benefit from several policies and incentives provided by various governments to boost the usage of solar systems. The usage of renewable energy sources is anticipated to increase due to strict government restrictions limiting environmental damage, which is anticipated to have a favorable effect over the anticipated years. Several programs were announced by the respective governments to promote industrial expansion, including tax breaks, subsidies, net metering, financial aid, low import duties, and feed-in tariffs.
MARKET SCOPE
The "Global Solar Cell Market Analysis To 2028" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The solar cell market report aims to provide an overview of the solar cell market with detailed market segmentation by product, application, and geography. The global solar cell market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar cell market player and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global solar cell market is segmented based on product, application. Based on product, the solar cell market is segmented into silicon wafer, thin film. Based on application, the solar cell market is segmented into residential, commercial, and industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global solar cell market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The solar cell market by each region is later sub-segmented by respective countries and segments. The solar cell market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the solar cell market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the solar cell market in these regions.
IMPACT OF COVID-19 ON SOLAR CELL MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global solar cell market. The supply chain disruptions influenced the decline in demand for solar cells. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturers of solar cell thereby impacting the growth of the global solar cell market.
MARKET PLAYERS
The reports cover key developments in the solar cell market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from solar cell market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the solar cell market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solar cell market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- First Solar, Inc.
- Yingli Solar
- SunPower Corporation
- SunEdison, Inc.
- Indosolar Limited
- Tata Power Systems Limited
- Sharp Corporation
- Borg Inc.
- SolarWorld AG
- Canadian Solar Inc.