About Solar Photovoltaic Materials
Due to the rising manufacture of solar cell modules, solar photovoltaic materials are garnering a lot of attention. The rising popularity of dye-sensitized solar cells and organic photovoltaics is projected to benefit the industry. Market growth is likely to be fuelled by government programmes targeted at increasing the share of renewable energy in total electricity generated annually. Over the last few years, solar PV technology has become one of the fastest-growing renewable energy sources. Because of a variety of variables, such as low cost and great efficiency, these systems are used in residential, commercial, and utility applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for Solar Photovoltaic Materials is increasing. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. Players are expected to focus on the creation of new compounds, which would likely drive the worldwide market forward over the forecast period. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Solar Photovoltaic Materials market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DuPont (United States), BASF SE (Germany), Mitsubishi Electric (Japan), SunPower (United States), Canadian Solar Inc. (Canada), First Solar (United States), Trina Solar (China), SolarEdge Technologies (Israel), SMA Solar Technology (Germany), Dow (United States), JinkoSolar (China) and Wacker Chemie AG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Q-Cells (South Korea), Hemlock Semiconductor Corporation (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Solar Photovoltaic Materials market by , Application (Thin Film Solar Cells, Mesoscopic Solar Cells, Organic Solar Cells and Perovskite Solar Cells) and Region.
On the basis of geography, the market of Solar Photovoltaic Materials 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). If we see Market by Material Type, the sub-segment i.e. Silicon will boost the Solar Photovoltaic Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Prevalence Solar Cell Modules
Market Growth Drivers:
Rising Environmental Concerns and Increased Demand for Solar Energy
Challenges:
Lack of Infrastructure in Developing Countries and High Initial Cost of Photovoltaic Technology
Restraints:
High Cost of Solar Panels Installation and Maintenance
Opportunities:
Growing use of Fossil Fuels and Government Initiatives to Increase the Share of Renewable Energy in the Total Power Generated
Market Leaders and their expansionary development strategies
In May 2023, First Solar has announced that it has 'further strengthened its global leadership' in thin film photovoltaics (PV) by acquiring Evolar AB, a European leader in perovskite technology.
In June 2020 Canadian Solar Inc had announced the launch of Next-Generation PV modules. Canadian Solar PV modules will represent yet another major advance in module efficiency, propelling solar energy to ever lower levelized cost of electricity ("LCOE"). The new products will be backed by competitive warranties and the highest level of pre- and post-sales service.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Raw Material Suppliers and End-use industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.