Crystalline Solar Panels Market Scope
Crystalline solar panels are of two types monocrystalline solar panels and polycrystalline solar panels, the crystalline solar panels vary based on their performance, costs, appearance, and installations according to the residential, commercial, and industrial applications. Monocrystalline solar panels have mono solar cells made from a cylindrical silicon and polycrystalline solar panels are very commonly used because of their lesser cost.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Hanwha Q Cells Co., Ltd. (South Korea), SolarWorld AG (Germany), Sharp Corporation (Japan), Canadian Solar Inc. (Canada), SunPower Corporation (United States), Canadian Solar Inc (Canada), JA Solar Holdings (China), Trina Solar Co., Ltd. (China), Yingli Solar (China) and JinkoSolar (China) |
CAGR | % |
Crystalline Solar Panels is a fragmented market due to the presence of various players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Crystalline Solar Panels market throughout the predicted period.
Hanwha Q Cells Co., Ltd. (South Korea), SolarWorld AG (Germany), Sharp Corporation (Japan), Canadian Solar Inc. (Canada), SunPower Corporation (United States), Canadian Solar Inc (Canada), JA Solar Holdings (China), Trina Solar Co., Ltd. (China), Yingli Solar (China) and JinkoSolar (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Moser Baer PV Pvt. Ltd. (India), Tata BP Solar (India) and Others.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Crystalline Solar Panels market by Type , by Application (Residential, Commercial and Utility-Scale) and Region with country level break-up.
On the basis of geography, the market of Crystalline Solar Panels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In November 2021, Hanwha Solutions, the mother company of leading total energy solutions provider Hanwha Q CELLS announced that it has closed a deal to acquire 100% of the equity interest of RES Méditerranée SAS, which owns 100% of RES SAS (“RES France”) following the relevant regulatory approvals and notifications.
On 1st July 2020, Canadian Solar Inc. launched the super-high power Series 5 and Series 6 PV modules to celebrate Canada Day. These new modules will join the HiKu, BiHiKu, and HiDM portfolios, expanding the range of high-power, high-efficiency mono facial and bifacial solar modules. HiKu5 and BiHiKu5 shall utilize Canadian Solar's industry-leading LeTID (light- and elevated temperature-induced degradation) mitigation technology and power classes of up to 500 W for a more powerful PV module. Available in both monocrystalline and polycrystalline cells, the LeTID of the HiKu5 is 50% lower than the industry standard.
Influencing Trend:
Increasing Utilization of Polycrystalline Solar Panels
Market Growth Drivers:
Increasing Demand for the Solar Rooftop Systems in Industrial and Commercial Applications and Demand for the Highest Level of Solar Efficiency
Challenges:
High-Cost Investment in the Production and Installation of Crystalline Solar Panels
Restraints:
Stringent Regulatory Compliances with the Material Used in Crystalline Solar Panels
Opportunities:
Continuous Technological Advancements in Crystalline Solar Panels and Surging Demand for the Crystalline Solar Panels in Residential Applications
Key Target Audience
Crystalline Solar Panels Manufacturers, Crystalline Solar Panels Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others