Monocrystalline Solar Panel

Monocrystalline Solar Panel

Global Monocrystalline Solar Panel Market to Reach $24.2 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Monocrystalline Solar Panel estimated at US$11 Billion in the year 2020, is projected to reach a revised size of US$24.2 Billion by 2027, growing at a CAGR of 12% over the analysis period 2020-2027. Commercial, one of the segments analyzed in the report, is projected to record a 10.9% CAGR and reach US$12.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Utility segment is readjusted to a revised 14% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3 Billion, While China is Forecast to Grow at 15.8% CAGR

The Monocrystalline Solar Panel market in the U.S. is estimated at US$3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.1 Billion by the year 2027 trailing a CAGR of 15.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.3% and 10.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.5 Billion by the year 2027.



Residential Segment to Record 12% CAGR

In the global Residential segment, USA, Canada, Japan, China and Europe will drive the 12% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$3.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 13.6% CAGR through the analysis period.

Select Competitors (Total 37 Featured) -

• Daqo New Energy Corp.
• Emerald Sun Energy
• GCL-Poly Energy Holdings Limited
• Hemlock Semiconductor Corp.
• OCI Company Ltd.
• REC Silicon ASA
• Renogy Solar
• River Eletec Corp.
• Sharp
• SunEdison, Inc.
• Tokuyama Corporation
• Wacker Chemie AG
• Woongjin polysilicon Co. Ltd.

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