Global Solar
Cell Market is foretold to provide a
robust support for industry players to lay a solid foundation for their
business growth. It includes a comprehensive evaluation of the industry growth
status and risk. In addition, it provides detail market variables, trends, key
opportunities, new entrants & competitors.
Solar Cell Market study
offers detail overview of industry with all the requisite data to support
tactical business decisions and come up with strategic growth plans. This study
also proposes a comprehensive insight into the development policies and plans
in addition to manufacturing processes and cost structures.
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Industry Insights:
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.
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.
Regional Insights:
Europe accounted for 45% of
the overall installed capacity in 2014. The government regulations favoring the
PV installations are projected to drive market growth in Europe. The increasing
demand for solar cells in the utility and commercial sector is anticipated to
augment market growth.
The decrease in PV prices
is projected to explore new opportunities for crystalline silicon modules over
the estimated period. In addition, advancements in technology in improving the
operating efficiency of thin film solar cells are anticipated to increase its
demand in commercial and residential applications.
The demand for the solar
cell in North America was estimated to be over 20 GW in 2014. High PV
installations owing to the rising consumer awareness towards benefits in cost
associated with the renewable energy systems in the region is expected to drive
market growth. However, lack of incentives and federal subsidy after 2016 is
expected to witness a reduction in the installation in residential and
commercial segments which is expected to hamper growth.
Competitive Market Share
Insights
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.
The industry is a
combination of companies integrated through different stages of the value chain
particularly from raw material to module manufacturing. The companies operating
individually supply the end-users either through their supply outlets
(sales/distribution centers) or through distribution channels. In these cases,
distributors act as connectors between end-users and companies, by providing
technological assistance, aftermarket services, and logistics.
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