About Solar Cells and Modules
A solar cell or photovoltaic (PV) cell is a semiconductor device that converts sunlight into electricity by the photovoltaic effect. The common material in solar cell production is purified silicon that can be applied in different ways. There are two indicators for solar cells one is cell conversion efficiency and the other is cell thickness. Solar modules use light energy i.e photons from the sun to generate electricity through the photovoltaic effect, which is then used to power electrical devices and heat and cool homes and businesses. Solar cells comprise of materials with semiconducting properties in which their electrons are turned into an electrical current when struck by sunlight. While there are dozens of variations of solar cells, the two most common types are those made of crystalline silicon and those made with what is called thin film technology.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Analyst at AMA Research estimates that German and Japanese Manufacturers will contribute the maximum growth to Global Solar Cells and Modules 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.
BP Solar (Spain), Hanwha Group (South Korea), First Solar (United States), JA Solar Holdings (China), KYOCERA (Japan), Mitsubishi Electric (Japan), Motech Industries, Inc. (Taiwan), Sanyo (Japan), Schott Solar (Germany), Hareonsolar (China), Sharp Solar (Japan) and SolarWorld (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 Solar Frontier (Japan) and EGing Photovoltaic Technology Co. Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Solar Cells and Modules market by Type (Monocrystalline Cells, Polycrystalline Cells, Amorphous or Thin Film and Others [Silicon, Cadmium Telluride, Copper Indium Gallium Selenide]), Application (Residential, Commercial, Ground Station and Power Utilities) and Region.
On the basis of geography, the market of Solar Cells and Modules 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 Generation, the sub-segment i.e. First will boost the Solar Cells and Modules market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Solar Cells has Gained Major Traction Owing to Surge in Rooftop Installations and Increasing Environmental Awareness among Customers
Market Growth Drivers:
Growing Demand for Electrical Appliances and Increase in Applications in the Architectural Sector
Challenges:
Monocrystalline are Costly because they are of High Quality and Thin-Film Panels don't Last Long and Quickly Succumb to the Effects of Weatherization
Restraints:
Climatic Conditions and Geographical Latitudes
Opportunities:
Use of Solar Energy Will Increase the Production of Green Energy and Raising Demand for Solar Power Towers in Electricity Generation
Market Leaders and their expansionary development strategies
In September 2023, Singapore-based PV module manufacturer REC has developed residential solar modules based on its Alpha heterojunction cell technology.
In December 2023, Solar Energy Corp. of India Ltd. has started accepting bids to supply 400 MW of domestically manufactured solar modules built with made-in-India cells. The modules must be rated a minimum of 540 W.
Key Target Audience
Manufacturers of Solar Cell and Modules, Suppliers of Solar Cell, Wholesalers, Distributers and Retailers of Solar Cell, Service Provider of Solar Panel, Research Organization and Governmental Bodies
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.