Solar Cells and Modules

Solar Cells and Modules

Global Solar Cells and Modules Market to Reach $216.1 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Solar Cells and Modules estimated at US$129.4 Billion in the year 2020, is projected to reach a revised size of US$216.1 Billion by 2027, growing at a CAGR of 7.6% over the analysis period 2020-2027. Thin Film, one of the segments analyzed in the report, is projected to record a 12.4% CAGR and reach US$35.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Crystalline Silicon segment is readjusted to a revised 6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $14.4 Billion, While China is Forecast to Grow at 8.9% CAGR
The Solar Cells and Modules market in the U.S. is estimated at US$14.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$87.3 Billion by the year 2027 trailing a CAGR of 8.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 6.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$29.2 Billion by the year 2027.

Other Technologies Segment to Record 14.1% CAGR
In the global Other Technologies segment, USA, Canada, Japan, China and Europe will drive the 14.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.6 Billion in the year 2020 will reach a projected size of US$18.6 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 15.9% CAGR through the analysis period.

Select Competitors (Total 228 Featured) -

• BYD Co., Ltd
• Canadian Solar, Inc
• Chint Group
• EGing Photovoltaic Technology Co., Ltd
• First Solar, Inc
• GCL System Integration Technology Co., Ltd
• Hanwha Corporation
• Hyundai Energy Solutions Co., Ltd
• JA Solar Holdings Co., Ltd
• Jiangsu Shunfeng Photovoltaic Technology Co., Ltd
• JinkoSolar Holding Co., Ltd
• Kyocera Corporation
• ReneSola Ltd
• Risen Energy Co., Ltd
• Shanghai Aerospace Automobile Electromechanical Co., Ltd
• Sharp Corporation
• Solar Frontier K.K
• SunPower Corporation
• Trina Solar Ltd
• Yingli

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