Global Solar Cells and Modules Research Report 2023: Market to Reach $279.3 Billion by 2030 - Strong Growth in Solar PV Market to Present Opportunities

DUBLIN, Dec. 14, 2023 /PRNewswire/ -- The "Solar Cells and Modules - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Solar Cells and Modules Market to Reach $279.3 Billion by 2030

The global market for Solar Cells and Modules estimated at US$150.2 Billion in the year 2022, is projected to reach a revised size of US$279.3 Billion by 2030, growing at a CAGR of 8.1% over the analysis period 2022-2030. Thin Film, one of the segments analyzed in the report, is projected to record 12.3% CAGR and reach US$51.8 Billion by the end of the analysis period. Growth in the Crystalline Silicon segment is estimated at 6.2% CAGR for the next 8-year period.

This comprehensive report delves into the impact of the COVID-19 pandemic on the renewable energy sector, with a specific focus on solar energy. It examines how the pandemic has heightened global interest in renewable energy and underscores the sector's resilience. Additionally, the report delves into the challenges posed by supply disruptions from China, a major player in the renewable energy supply chain.

The report offers a detailed breakdown of the components that make up solar cells, providing readers with an in-depth understanding of their composition. It also categorizes various types of solar cells and modules, shedding light on their unique features and applications. Furthermore, the report includes a comparative analysis of the efficiency of commercial photovoltaic (PV) technologies, allowing stakeholders to make informed decisions about technology adoption.

The competitive landscape of the solar energy market is explored through a percentage market share breakdown of production for both solar cells and PV modules in 2022. It also assesses the competitive market presence of key players worldwide, offering valuable insights for industry stakeholders.

The U.S. Market is Estimated at $16.5 Billion, While China is Forecast to Grow at 9.5% CAGR

In terms of market prospects, the report predicts a dominant role for crystalline silicon cells and highlights the significant growth driven by China and the Asia-Pacific region. It provides insights into the historical production of solar PV modules and breaks down production by country.

The Solar Cells and Modules market in the U.S. is estimated at US$16.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$116.5 Billion by the year 2030 trailing a CAGR of 9.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 6.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and trademarked research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET TRENDS & DRIVERS

• As Solar Power Becomes Indispensable to Energy Mix, Solar Power Capacity Growth to Fuel Demand for Solar Cells and Modules
• Top Countries Worldwide by Solar PV Installed Capacity (in GW) for 2021
• Top Countries Worldwide by Cumulative Solar PV Installed Capacity in GW (2021)
• Solar Net PV Capacity Addition Breakdown (in %) by Application: 2021
• Strong Growth in Solar PV Market to Present Opportunities for Cells and Modules
• Sustained Rise in Global Electricity Demand Creates Conducive Environment for Solar Power Generation, Driving Wider Demand for Solar Cells & Modules
• Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
• Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
• Global Energy Consumption (in Billion toe) by Country/Region (1995, 2017 and 2040)
• Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
• Favorable Government Regulations and Policies: Critical for Market Penetration
• Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
• Growing Deployment of Renewable Energy Sources Amidst Rising Concerns over Fossil Fuel Usage Bodes Well for the Market
• Global CO2 Emissions: Percentage Breakdown of Volume Emissions by Fuel Type (2015, 2020, 2040 & 2050)
• Leading Countries with Renewable Energy as % of Total Energy
• Targets for Electricity Production from Renewable Energy Sources in Select Countries
• Market to Benefit from the Shift Towards Decentralized Power Generation & Rural Electrification in Emerging Nations
• Solar Photovoltaic Technology Leading the Growth Run
• Global Distributed PV Capacity Growth (in GW) by End-Use for the Period 2007-12, 2012-18 and 2019-24
• Long-term Penetration of Distributed Generation to Impact Utilities
• Microgrids and Distributed Generation Transform Electricity Management Forever
• Global Distributed Generation Capacity: Percentage Breakdown of Capacity Installations by Type for 2021
• Government Boost to Solar Energy Adoption to Spur Opportunities in Solar Cells & Modules Market
• Thin Film Photovoltaic Cells Technology: Poised for Strong Long-term Growth
• A Peek into Applications of Photovoltaic Thin Films
• CdTe and CIGS Thin Film PV Cells to Foster Market Growth
• CIGS: An Emerging Thin Film Technology Gaining Immense Popularity
• Miniaturization Trend in Electronics Favors Growth in Thin Films Market
• Flexible Thin Film Cells Gain Attention
• BIPV: The New Age 'Building Envelope Material' and 'Power Generator' to Boost Market Prospects
• Global Building Integrated Photovoltaics (BIPV) Market by Region (in US$ Million) for the Years 2020 and 2027
• Roofing Remains the Largest Application Segment for BIPV Market
• Floating Solar Panels Technology: Highly Efficient than Land Based Solar Plants
• World Floating Solar Panels Market by Type: Percentage Breakdown of Demand for Stationary, and Tracking for 2021 & 2027
• Asian Countries Suited for Floating Solar Panels
• Perovskite Solar Technology Holds Potential to Transform Future of Solar PV
• n-Type Modules and TOPCon Set to Gain Momentum
• CaTiO3 Solar Cells: A Panacea for Urban Solar Projects?
• Innovations in Solar Cell Technologies to Transform Market
• Technology Developments Support Growth of Solar Power Market
• Select Innovations in Solar Cells and Modules Market
• Research Developments in Solar Technology Drive Growth
• Solar Panel Efficiency: An Important Parameter
• Solar Panel Recycling Market Poised for Growth
• Long-term Prospects Remain Favorable Amid Growing Population & Urbanization Drive
• World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
• Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
• Solar Industry Challenges: Implications for Solar Cells and Modules Market
• Environmental Challenges of Solar Power, Cells and Modules
• Solar Market Supply Chain Issues
• Local Manufacturing of Solar Modules to Save Costs

FOCUS ON SELECT PLAYERS (Total 228 Featured)

• Bharat Heavy Electricals Ltd.
• BYD Co., Ltd.
• Canadian Solar, Inc.
• Ascent Solar Technologies, Inc.
• CESI SpA
• AVANCIS GmbH
• Atecom Technology Co., Ltd.
• Chint Group
• AZUR Space Solar Power GmbH
• BiPVco
• BSQ Solar SL
• Daqo Group Co., Ltd.
• AmberWave Inc
• DASOL
• Choshu Industry Company Limited

For more information about this report visit https://www.researchandmarkets.com/r/oj4bac

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