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Global Solar Cell Market Analysis & Opportunity Outlook 2021

Published On : 09:40 AM, 14th September, 2017 REP-ID-103 Category: Energy & Power

Solar cells or photovoltaic cells are electronic instruments which transforms sunlight into electrical energy. The global solar cell market is expanding rapidly and is envisioned to reach 1,080 GW (installed capacity), registering a compound annual growth rate (CAGR) of 25.0% over the forecast period i.e. 2015-2021. The global solar cell market is likely to propel owing to increasing demand of renewable energy generation sources across the globe.  Geographically, the global solar cell market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of World.

Market Segmentation

  • By Types

Global solar cell market can be segmented on the basis of types into crystalline silicone, thin film solar cell and organic photovoltaic cell.

  • By Applications

On the basis of applications, global solar cell market is divided as residential and commercial applications.

Growth Drivers and challenges

Escalating demand of clean and environmental friendly energy sources and increasing government initiatives to promote use of solar energy are expected to be the key drivers of global solar cell market in future.

In addition to that, rapidly depleting fossil fuels is also believed to foster the demand of solar cells all over the world.

However, high cost and lack of proper infrastructure are believed to dampen the growth of global solar cell market in future.

Market Size and Forecast

North America solar cell market accounted for approximately 22 GW of installed capacity in 2014. Increasing concerns of people towards renewable energy sources is the main factor which is believed to garner North America solar cell market in future. The U.S. is expected to be the major solar cell market in North America followed by Canada.

The demand of solar cells in Europe, accounted for over 46% of the total worldwide installed capacity in 2015. In future, the solar cell demand in Europe is likely to get escalated from formulation of favourable guidelines by the government in most of the major European countries such as Germany, Spain, France, Italy and the U.K.              

Asia-Pacific is projected to witness the highest growth in global solar cell market over the forecast period. The market is likely to get fuelled from strengthening of economy and increasing infrastructural developments in some of the major countries such as India and China.

Middle East and North Africa are also anticipated to be major solar cell market driven by escalating demands of solar power from countries such as U.A.E. and Saudi Arabia.

Key Players

The global solar cell market is very competitive and includes some of the top players such as First Solar, Inc., SunPower Corporation, Tata Power Systems Limited, Borg In, Sharp Corporation, GreenBrilliance, Trina Solar Limited, and Canadian Solar Inc., etc.                                                                                         

Scope and Context

Overview of the Parent Market

Analyst View

Market Size and Growth

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe)
  • Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia)
  • Rest of World


  • By Types
  • By Applications
  • By Geography

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment


               Key Answers Captured in Report?

Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?


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