Solar Cells Market size worth over $100bn by 2024

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Solar Cells Market size to exceed USD 100 billion
by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Solar Cells Market

• U.S. solar cells market size was close to USD 4
  billion in 2015 and is anticipated to witness
  gains of over 14 subject to increasing utility
  scale installation.
• Brazil was over 52 MW in 2015, growing focus
  towards the development of decentralized
  generation systems will favor the industry growth
  in future.
• Cadmium telluride solar cell market share was
  close to 8 GW in 2015 with sales potential
  exceeding USD 20 billion by 2024.
• India solar cells market size is predicted to
  exceed 24 GW by 2024. Favorable policies such as
  net metering, tax incentives and power purchase
  agreement is likely to propel the industry growth
  in coming years.

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Continued...

• China solar cells market share contributed over
  45 of the global revenue in 2015. Soft loans,
  tax credits, and other special grants by the
  government will likely accelerate the business
  growth.
• Ultra-thin film PV cell market technology was
  close to USD 3 million in 2015 and in term of
  volume, is witness to gain over 30 by 2024.
• Australia solar cells market size was close to
  USD 600 million in 2015 and in term of volume
  will exceed 5 GW by 2024. Government measures
  towards emission with initiatives such as feed-in
  tariffs and special rebates may favor the
  business.
• Major participants in the industry include Jinko,
  Canadian, Sunedison, Trina, Moser Baer, Yingli,
  First Solar, SunPower Corporation, Indosolar,
  GreenBrilliance, SolarWorld, Tata Power, and
  Mitsubishi Electric Corporation.

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360 Analysis

• Product Trends
• Flexibility and transparency coupled with
  growing applications across residential and
  commercial will propel business growth.
  Polycrystalline solar cells market share is
  expected to witness again over 10 due to its
  high efficiency and low cost.
• Regional Trends
• South Africa is expected to grow at over 12 to
  exceed 400 MW by 2024. Growing demand for
  electricity in the region may favor the business
  in future. Chile was valued at 388 MW in 2015 and
  is expected to reach over USD 700 million by 2024
  subject to ongoing execution large scale
  commercial and utility projects.
• Competitive Market Share
• Major industry players include Mitsubishi
  Electric Corporation, Jinko, Trina, Canadian,
  First Solar, Moser Baer India Ltd, Yingli,
  SunPower Corporation, Sunedison, Inc., Indosolar,
  Tata Power Systems Ltd, GreenBrilliance, and
  SolarWorld

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