Solar Cells Market share to grow at 12% CAGR from 2016 to 2024 - PowerPoint PPT Presentation

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Solar Cells Market share to grow at 12% CAGR from 2016 to 2024


More Information @ Solar cells are composed of thin photovoltaic material layers of metal or glass, and help convert the solar energy into electrical energy to be used for various applications. Increasing concerns regarding depleting energy sources has prompted the government to encourage the adoption of alternative energy sources, which will drive solar cell market. – PowerPoint PPT presentation

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Title: Solar Cells Market share to grow at 12% CAGR from 2016 to 2024

Global Solar Cells Market to hit 100bn by 2024
Key Insights of Solar Cells Market
  • Solar Cells Market size is likely to exceed USD
    100 billion by 2024 driven by growing demand for
    clean fuel electricity. Solar cells market is all
    set to witness a spectacular growth over the
    years ahead with the evolving demand for
    sustainable energy sources globally. The
    increasing government initiatives to promote
    renewable energy resources coupled with the
    concerns about negative environmental impact via
    the conventional sources will propel the solar
    cells industry growth over the coming years.
    According to Global Market Insights, Inc. Global
    Solar Cells market size worth USD 35 billion in
    2015 is set to record an appreciable growth rate
    of 12 over the period of 2016-2024.
  • Monocrystalline, polycrystalline, and thin film
    PV cells are the basic three products In addition
    to the aforementioned factors, the increasing
    electricity demand is another vital driver for
    the solar cells industry. Estimates suggest that
    nearly 1 billion global population are deprived
    of reliable power supply resources, which is
    creating a huge growth ground for the solar cells
    market. The government worldwide is also actively
    participating to address the rising electricity
    demand. For instance, Government of India has
    approved a budget of Rs. 50 billion under NSM
    (National Solar Mission) for setting up Grid
    Connected Rooftop Systems (4.25 GW) in the
    country. South Africa, which is a major region
    facing lack of reliable electricity sources is
    set to register a CAGR of 12 over the period of

  • Also, with the technological advancements, the
    product cost has also reduced significantly,
    which is in turn favoring its demand globally.
    The developing countries are estimated to witness
    a huge adoption of these systems, owing to the
    growing demand for decentralized generation
    systems across these regions. In response to this
    fact, off-grid solar systems market is projected
    to witness a notable surge with a capacity target
    of 45 GW by 2024.
  • Solar cells market is accumulating a substantial
    share through its increasing applications across
    the residential, commercial, and utility sectors.
    Chile, where the execution of huge commercial and
    utility projects is on a peak, is estimated to
    contribute noticeably toward global solar cells
    market revenue, with a projected revenue of USD
    700 million by 2024.
  • The global awareness toward reducing carbon
    footprints and adoption of renewable energy
    sources will lead to a rapid growth in Europe
    U.S. solar cells industry. As per the report,
    Europe solar cells market is forecast to record a
    CAGR of 17 over 2016-2024.
  • The global expansion of the solar cells industry
    will undoubtedly increase over the coming years
    with the depleting conventional resources and
    rising power supply demands. Key participants
    include Mitsubishi Electric Corporation, Jinko
    Solar, Trina Solar, First Solar, Moser Baer India
    Ltd, etc.

U.S. Solar Cells Market size, by product, 2013
-2024 (USD Million)


Browse Full Market Research Report Of Solar
Cells Market _at_ http// Request
for a Sample of this Research report _at_
Table of Contents
Chapter 1 Methodology Scope 1.1
Research Methodology 1.1.1 Initial data
exploration 1.1.2 Statistical model and
forecast 1.1.3 Industry insights and
validation 1.1.4 Research scope and
assumptions 1.2 Data Sources 1.2.1.
Primary 1.2.2. Secondary Chapter 2
Executive Summary 2.1 Solar cell industry
3600 synopsis, 2013 - 2024 2.1.1 Current
business environment 2.1.2 Technology
trends 2.1.3 Product trends 2.1.4 Grid
trends 2.1.5 Application trends 2.1.6
Regional trends
Chapter 3 Solar cells Industry Insights 3.1
Industry segmentation 3.2 Industry Size and
forecast, 2013 2024 3.3 Industry ecosystem
analysis 3.4 Vendor landscape 3.5
Innovation sustainability 3.6 Regulatory
framework 3.6.1 U.S. 3.6.2 India 3.6.3
Europe 3.6.4 China
3.7 Price trend analysis 3.7.1 Cost
structure 3.8 Industry Impact forces 3.8.1
Growth drivers Growing demand for
clean fuel electricity Decreasing solar
component price Favorable government
initiatives Strict government norms
towards emission 3.8.2 Industry pitfalls
challenges Lack of awareness 3.9
Growth potential analysis 3.10 Porters
analysis 3.11 Competitive landscape, 2015 3.12
PESTEL analysis
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