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Solar Cells Market Trends

Report ID: GMI304
Published Date: Aug 2024
Report Format: PDF

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Solar Cells Market Trends

Growing focus on recycling and reusing solar panels and materials at the end of their life cycle, reducing the environmental impact of solar energy systems are driving the market growth. Ongoing integration into building designs, as rooftop installations and building materials, such as solar windows or facades, will foster the business scenario. In addition, significant investment from both public and private sectors is set to strengthen the product adoption.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of solar cells was worth over USD 32.5 billion in 2023 and will achieve 2.9% CAGR between 2024 and 2032, driven by the increasing demand for renewable energy sources, government incentives, and advancements in technology.

The crystalline solar cells market will reach over USD 37 billion by 2032, primarily due to their high efficiency, established technology, superior performance and durability.

APAC solar cells industry will exceed USD 39 billion by 2032, owing to rapid industrialization, growing energy needs, and favorable government policies promoting renewable energy.

Some of the prominent firms operating in the solar cells market are Canadian Solar, DuPont, Hevel, Hanwha Q Cells, Jinko Solar, JINERGY, Meyer Burger, MOTECH Industries Inc., RENESOLA, REC Solar Holdings AS, SINGULUS TECHNOLOGIES AG., SunPower Corporation, AIKO, United Renewable Energy LLC, Vikram Solar Ltd., and Wuxi Suntech Power Co., Ltd., among others.