Global Solar Cells and Modules Market is valued approximately USD 42,100 million in 2018 and is anticipated to grow with a healthy growth rate of more than 2.0% over the forecast period 2019-2026. Solar Cell is a device made from crystalline silicon or thin film that converts sunlight into electricity by a process known as the photovoltaic effect. There are two key indicators for solar cells: one is cell conversion efficiency, and the other is cell thickness. Solar modules use light energy (photons) from the sun to generate electricity through the photovoltaic effect. The majority of modules use wafer-based crystalline silicon cells or thin-film cells based on cadmium telluride or silicon. The structural (load carrying) member of a module can either be the top layer or the back layer. Cells must also be protected from mechanical damage and moisture. Most solar modules are rigid, but semi-flexible ones are available, based on thin-film cells.
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surging adoptionand utility of solar cells in residential & commercial sectors is one of the major factors responsible for high CAGR of the market. Low cost of solar cell as compared to other substitutes offers growth opportunities. Also, enhancing investments by both the private and government organizations towards development of solar cells is contributing towards growth of global Solar Cells and Modules market. Further, Solar Cells and Modules offers several benefits such as truly renewable energy source, reduces electricity bills and low maintenance costs that regulates their demand across various regions. However, lack of awareness among people and high cost associated with this devices are the factors anticipated to hamper the market growth during the forecast period.
Major market player included in this report are:
- First Solar
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Single Crystal Silicon
- Polycrystalline Silicon
- Ground Station
By Regions: North America, U.S., Canada, Europe, UK, Germany, Asia Pacific, China, India, Japan, Latin America, Brazil, Mexico, Rest of the World and More
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