Market Research Report
Global Polycrystalline Solar Cell Market Size study, by Technology (Crystalline Silicon Cells, Thin Film Cells, Ultra-thin Film Cells), by Application (Residential, Commercial, Utility) and Regional Forecasts 2022-2028
|Global Polycrystalline Solar Cell Market Size study, by Technology (Crystalline Silicon Cells, Thin Film Cells, Ultra-thin Film Cells), by Application (Residential, Commercial, Utility) and Regional Forecasts 2022-2028|
Published: June 15, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Polycrystalline Solar Cell Market is valued at approximately XX in 2021 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2022-2028. Polycrystalline Solar cells are made up of several silicon crystals in a single PV cell. The wafers of polycrystalline solar cells are made by melting together several fragments of silicon. Net metering legislation has been enacted by the majority of governments around the world, along with significant subsidies for solar system installation in residential settings. Due to their lower costs and marginally lower efficiency than mono-crystalline solar cells, these cells are widely used in the residential sector. Increasing demand for renewable energy sources, rising public awareness about energy security and self-sufficiency, and rising government initiatives to promote solar energy installation through subsidies are some of the factors that will likely boost the growth of the polycrystalline solar cell (Mono-Si) market during the forecast period. After confirming a sixfold increase in net profit in Q1 2022, Tongwei, solar polysilicon, and cell manufacturer announced plans to significantly increase its manufacturing capacity over the next four years in April 2022. With 350,000 MT of polysilicon capacity, the company expects to finish in 2023. In India, under the government's production linked incentive scheme, Reliance Industries Ltd, Shirdi Sai, and Jindal Poly submitted bids in September 2021 for manufacturing polysilicon (stage-1), wafer (stage-2), and cells (stage-3 and stage 4) for setting up solar manufacturing units. On the other hand, increasing technological advancements, as well as rising environmental concerns, will boost various opportunities, resulting in the growth of the polycrystalline solar cell (Mono-Si) market during the forecast period. In the forecasted period, . low-performance efficiency will act as a market restraint for polycrystalline solar cells.
The key regions considered for the global Polycrystalline Solar Cell market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe will dominate the polycrystalline solar cell (Multi-Si) market due to the adoption of favourable government initiatives for the installation of solar panels, as well as rising technological advancements. While Asia-Pacific will grow in the forecast period of 2020-2027 due to increased investment in the adoption of sustainable energy. In terms of population, Asia-Pacific is the world's largest region. Traditionally, the region's energy demand has been met by fossil fuels, primarily petroleum and coal, but due to its declining cost, solar energy has recently seen increased adoption.
Major market players included in this report are:
Targray Technology International Inc
JinkoSolar Holding Co., Ltd
First Solar, Inc.
Solaris Technology Industry
Trina Solar Co. Ltd.
Canadian Solar Inc.
Tata Power Solar Systems Ltd.
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:
Crystalline Silicon Cells
Ultra-Thin Film Cells
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Polycrystalline Solar Cell Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures