Solar Cells Market Outlook: By Technology, Product, Grid, Application and Region-Forecasts, 2024
China Solar Cells Market will rise substantially in the forthcoming years driven by the rapid expansion of the photovoltaic industry in the region.
Sellbyville, United States – August 27, 2019 /MarketersMedia/ —
Global Solar Cells Market is expected to grow at over 12% to surpass USD 100 billion by 2024. Increasing inclination towards sustainable energy adoption will stimulate the global solar cells market share over the forecast timeframe. Rising demand for off grid electricity along with reducing photovoltaic component cost will propel the industry landscape. As per the World Energy Outlook 2016, around 1.2 billion people in the world have no access to electricity.
The decline of conventional energy resources is a major factor accounting for the massive growth of solar cells market. The demand for non-renewable energy sources has observed a peripheral slump in the recent years owing to the lack of availability of fossil fuels, which has intensified the dependency on alternative sources of energy, such as the sun, wind, water, biomass, etc. With solar radiations being the prime source of energy for the earth, solar energy has become the most used and obvious choice among the renewable energy sources, which will push global solar cells market in the years to come.
Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/304
Rising demand for the decentralized generation systems in developing nations will enhance the penetration of the sustainable energy during the forecast period. Increasing investment towards rural electrification in off-grid locations in various countries including India, China, and Africa will fuel the solar cells market growth. In September 2015, African Development Bank (AfDB) approved USD 121 million loan and grant for the electricity expansion of rural households in Uganda.
Based on the technology trends, solar cells market is classified into thin film cells, crystalline silicone cells, and ultra-thin film cells. Thin film solar cells industry, valued at over USD 8 billion in 2015, is expected to experience a significant growth over the coming years, owing to its efficient functioning ability. Crystalline silicone cells technology is projected to register a considerable growth over the coming seven years, driven by its lower component costs. Ultra-thin film solar cells market value, worth USD 3 million in 2015, is expected to witness a lucrative growth over the coming seven years as a result its high efficiency & lightweight features.
Strict legislations to check environmental pollution along with high popularity of clean fuel technologies is expected to push solar cells market growth over the next few years. Moreover, favorable government policies promoting solar cells installations as a part of its energy conserving initiative/strategy along with it being an effective tool for electricity/power generation, will spur the industry growth. High demand for off grid electricity plus diminishing costs of solar cell components, is projected to drive the market trends over the coming timeframe. Effective measures to provide uninterrupted as well as clean power supply to off-grid and remote locations having poor access to electric supply, is anticipated to significantly drive the solar cells market growth.
Browse key industry insights spread across 152 pages with 482 market data tables & 12 figures & charts from the report, “Solar Cells Market” in detail along with the table of contents @
https://www.gminsights.com/industry-analysis/solar-cells-market
China accounted for over 45% of the global solar cells market share in 2015. Rising investment in the photovoltaic industry along with tax credits, soft loans, and other special grants by the government will stimulate the business outlook. According to the Ministry of Industry and Information Technology, photovoltaic industry has witnessed record investment of USD 12.3 billion in 2015.
The U.S. in 2015 was valued over USD 4 billion and is anticipated to expand over 14% owing to increasing utility scale installation. Government measures towards energy efficiency and carbon emission reduction will further complement the U.S. solar cells market growth. As per the Solar Energy Association, the solar industry in the U.S. installed 7,286 MW of solar photovoltaics in 2015 where the utility-scale sector represented more than 50% of the total solar PV installation.
Table Of Content For This Research Report:
Chapter 3 Solar Cells Market Insights
3.1 Industry segmentation
3.2 Industry Size and forecast, 2013 – 2024
3.3 Industry ecosystem analysis
3.4 Vendor landscape
3.5 Innovation & sustainability
3.6 Regulatory framework
3.6.1 U.S.
3.6.2 India
3.6.3 Europe
3.6.4 China
3.7 Price trend analysis
3.7.1 Cost structure
3.8 Industry Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing demand for clean fuel electricity
3.8.1.2 Decreasing solar component price
3.8.1.3 Favorable government initiatives
3.8.1.4 Strict government norms towards emission
3.8.2 Industry pitfalls & challenges
3.8.2.2 Lack of awareness
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2015
3.12 PESTEL analysis
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/solar-cells-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Address: 4 North Main Street Selbyville, Delaware 19975 USA
Phone: 1-888-689-0688
Website: https://www.gminsights.com/pressrelease/solar-cells-market
Source: MarketersMedia
Release ID: 88912850
Copyright © 1999-2013 SproutNews.com
