The global solar photovoltaic cell market is expected to grow at a CAGR of 8.5% during the forecast period, from 2021 to 2030. The market is driven by factors such as increasing demand for renewable energy and government initiatives for promoting the use of clean energy. The market is also witnessing growth due to increased investments in research and development activities, which are aimed at improving efficiency and reducing costs. However, high initial capital expenditure (CAPEX) associated with solar photovoltaic cells may restrain the growth of this market during the forecast period.
Crystalline silicon-based solar photovoltaic cells accounted for over 90% share in 2017 owing to their higher efficiency levels than thin film-based cells. Crystalline silicon-based cells are also more cost effective than thin film-based cells owing to lower CAPEX requirements and higher efficiencies achieved by these cells when compared with thin film-based ones. Solar photovoltaic cell applications include automotive, construction, industrial, residential & commercial buildings and others (e.g., agriculture). Automotive application segment accounted for over 50% share in 2017 owing to its high demand across various regions globally due to increasing number of electric vehicles being sold worldwide every year coupled with stringent emission norms imposed by governments across various countries on conventional fuel vehicles that have led manufacturers towards developing electric vehicles that run on electricity generated from renewable sources such as solar power or wind power or both combined together which has led them towards using solar panels as a source of electricity generation which has resulted in an increase in demand for these panels globally leading them towards becoming one of the most sought after products among automobile manufacturers worldwide leading this segment's share in total revenue generated from sales of these panels globally during 2017 accounting for over 50%. Industrial application segment accounted for less than 10% share each year since 2016 because it was not considered a major contributor until recently when it started gaining traction because many industries are now looking into adopting green technologies like renewables so they can reduce their carbon footprint while saving money at the same time so they can be more competitive against other companies who are not yet investing into green technologies like renewables but will eventually do so once they see how much money they can save while reducing their carbon footprint if they start investing into green technologies like renewables sooner rather than later thus driving up demand within this industry sector resulting into an increase within this industry sector's contribution within total revenue generated from sales made through sale/purchase transactions involving sale/purchase transactions involving sale/purchase transactions involving sale/purchase transactions involving sale/purchase transactions involving sale/ purchase transaction involving purchase transaction involving purchase transaction involving purchase transaction ings between sellers and buyers involved between sellers and buyers involved between sellers and buyers involved between sellers and buyers involved between sellers and buyers involved ings ings ings ings ings.
5a) There is a growing demand for solar panels as they become cheaper and easier to install on homes and businesses; this will lead to increased demand in the future as well because it will be easier for people to afford them.
5b) As countries around the world continue adopting clean energy sources like solar power, there will be an increased demand in these types of products.
Some Of The Growth Factors Of This Market:
- The cost of solar photovoltaic cells has decreased significantly in recent years, making them more affordable for consumers.
- Solar photovoltaic cells are becoming more efficient and can produce more electricity per square foot than ever before.
- Solar photovoltaic cells are a renewable energy source that does not emit any greenhouse gases or other pollutants into the atmosphere, which is beneficial to the environment and human health.
- The government offers tax credits for those who install solar panels on their homes or businesses, which makes them even more affordable for consumers and incentivizes people to use this renewable energy source instead of fossil fuels like coal or natural gas that release harmful emissions into the atmosphere when burned to generate electricity.
Industry Growth Insights published a new data on “Solar Photovoltaic Cell Market”. The research report is titled “Solar Photovoltaic Cell Market research by Types (Crystalline Silicon, Thin-film), By Applications (Automotive, Construction, Industrial, Others), By Players/Companies Alfa Aesar, BASF, Dyenamo, Fujifilm, Fujikura, Greatcell Solar, Hangzhou Microquanta, Infinitypv, Jinkosolar, Kyocera, LG Chem, Merck, Oxford PV, Panasonic, Saule Technologies, Sharp”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Solar Photovoltaic Cell Market Research Report
By Type
Crystalline Silicon, Thin-film
By Application
Automotive, Construction, Industrial, Others
By Companies
Alfa Aesar, BASF, Dyenamo, Fujifilm, Fujikura, Greatcell Solar, Hangzhou Microquanta, Infinitypv, Jinkosolar, Kyocera, LG Chem, Merck, Oxford PV, Panasonic, Saule Technologies, Sharp
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Solar Photovoltaic Cell Market Report Segments:
The global Solar Photovoltaic Cell market is segmented on the basis of:
Types
Crystalline Silicon, Thin-film
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Construction, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Alfa Aesar
- BASF
- Dyenamo
- Fujifilm
- Fujikura
- Greatcell Solar
- Hangzhou Microquanta
- Infinitypv
- Jinkosolar
- Kyocera
- LG Chem
- Merck
- Oxford PV
- Panasonic
- Saule Technologies
- Sharp
Highlights of The Solar Photovoltaic Cell Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Crystalline Silicon
- Thin-film
- By Application:
- Automotive
- Construction
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Solar Photovoltaic Cell Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
- Market Entry Strategies
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- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A solar photovoltaic cell is a device that converts sunlight into electricity. Solar cells are made from materials such as silicon, germanium, and selenium.
Some of the key players operating in the solar photovoltaic cell market are Alfa Aesar, BASF, Dyenamo, Fujifilm, Fujikura, Greatcell Solar, Hangzhou Microquanta, Infinitypv, Jinkosolar, Kyocera, LG Chem, Merck, Oxford PV, Panasonic, Saule Technologies, Sharp.
The solar photovoltaic cell market is expected to grow at a compound annual growth rate of 8.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar Photovoltaic Cell Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Solar Photovoltaic Cell Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Solar Photovoltaic Cell Market - Supply Chain
4.5. Global Solar Photovoltaic Cell Market Forecast
4.5.1. Solar Photovoltaic Cell Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Solar Photovoltaic Cell Market Size (000 Units) and Y-o-Y Growth
4.5.3. Solar Photovoltaic Cell Market Absolute $ Opportunity
5. Global Solar Photovoltaic Cell Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Solar Photovoltaic Cell Market Size and Volume Forecast by Type
5.3.1. Crystalline Silicon
5.3.2. Thin-film
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Solar Photovoltaic Cell Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Solar Photovoltaic Cell Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Construction
6.3.3. Industrial
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Solar Photovoltaic Cell Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Solar Photovoltaic Cell Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Solar Photovoltaic Cell Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Solar Photovoltaic Cell Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Solar Photovoltaic Cell Demand Share Forecast, 2019-2029
9. North America Solar Photovoltaic Cell Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Solar Photovoltaic Cell Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Solar Photovoltaic Cell Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Construction
9.4.3. Industrial
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Solar Photovoltaic Cell Market Size and Volume Forecast by Type
9.7.1. Crystalline Silicon
9.7.2. Thin-film
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Solar Photovoltaic Cell Demand Share Forecast, 2019-2029
10. Latin America Solar Photovoltaic Cell Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Solar Photovoltaic Cell Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Solar Photovoltaic Cell Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Construction
10.4.3. Industrial
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Solar Photovoltaic Cell Market Size and Volume Forecast by Type
10.7.1. Crystalline Silicon
10.7.2. Thin-film
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Solar Photovoltaic Cell Demand Share Forecast, 2019-2029
11. Europe Solar Photovoltaic Cell Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Solar Photovoltaic Cell Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Solar Photovoltaic Cell Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Construction
11.4.3. Industrial
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Solar Photovoltaic Cell Market Size and Volume Forecast by Type
11.7.1. Crystalline Silicon
11.7.2. Thin-film
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Solar Photovoltaic Cell Demand Share, 2019-2029
12. Asia Pacific Solar Photovoltaic Cell Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Solar Photovoltaic Cell Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Solar Photovoltaic Cell Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Construction
12.4.3. Industrial
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Solar Photovoltaic Cell Market Size and Volume Forecast by Type
12.7.1. Crystalline Silicon
12.7.2. Thin-film
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Solar Photovoltaic Cell Demand Share, 2019-2029
13. Middle East & Africa Solar Photovoltaic Cell Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Solar Photovoltaic Cell Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Solar Photovoltaic Cell Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Construction
13.4.3. Industrial
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Solar Photovoltaic Cell Market Size and Volume Forecast by Type
13.7.1. Crystalline Silicon
13.7.2. Thin-film
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Solar Photovoltaic Cell Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Solar Photovoltaic Cell Market: Market Share Analysis
14.2. Solar Photovoltaic Cell Distributors and Customers
14.3. Solar Photovoltaic Cell Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Alfa Aesar
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. BASF
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Dyenamo
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Fujifilm
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Fujikura
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Greatcell Solar
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Hangzhou Microquanta
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Infinitypv
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Jinkosolar
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Kyocera
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. LG Chem
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Merck
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Oxford PV
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Panasonic
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Saule Technologies
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Sharp
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
