Solar Cells Market

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Solar Cells Market Trends, Statistics Growth
Forecast 2022- 2028
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Industry Overview

• The global solar cells market is expected to
  expand substantially by 2028 on account of
  burgeoning demand for sustainable sources of
  energy around the world. In addition, rising
  investments across utility-scale projects are
  estimated to propel industry growth over the
  forecast period.
• Mounting number of favorable government
  initiatives focused on promoting renewable
  sources of energy, along with stringent solar PV
  targets, has augmented market uptake over the
  past few years. Notably, industry participants
  have been implementing gainful strategies to tap
  into the emerging trends in the market, thereby
  enhancing the overall business landscape.
• For instance, in October 2021, SunPower Corp., a
  prominent energy services and solar technology
  provider, announced the acquisition of Blue Raven
  Solar, a U.S.-based manufacturer of residential
  solar technology. The deal enabled SunPower to
  broaden its product portfolio and cater to the
  escalating demand for solar technology in the
  region.
• The global solar cells market has been segmented
  based on product, material, technology, and
  region.

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• The amorphous silicon (A-Si) sub-segment is
  projected to observe robust growth through the
  assessment timeline owing to recent technological
  advancements and research to improve the
  amorphous silicon technology in terms of
  efficiency and power output across large scale
  solar applications.
• The copper indium gallium diselenide sub-segment
  is speculated to progress at a significant CAGR
  to reach a notable revenue valuation by the end
  of 2028. Increasing installation of large modules
  and surging demand for effective product
  configurations is likely to bolster market growth
  over 2022-2028. Moreover, the copper indium
  gallium diselenide technology offers higher
  efficiency compared to its crystalline
  counterparts, which is set to accelerate product
  adoption in the coming time period.
• From the product point of view, the global solar
  cells market has been bifurcated into IBC MWT,
  BSF, HJT, PERC/PERL/PERT/TOPCON, and others. The
  HJT sub-segment is anticipated to garner
  considerable gains by the end of 2028 due to the
  ability of HJT to combine the best qualities of
  crystalline silicon with amorphous thin-film
  silicon to deliver increased efficiency and
  high-power output levels. The IBC MWT
  sub-segment is estimated to account for a sizable
  share in the overall market by 2028. High product
  efficiency and performance index are likely to
  fuel segmental development over the forthcoming
  years.

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Solar Cells Market

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