Solar Cells and Modules - Global Market Trajectory & Analytics

Global Solar Cells and Modules Market to Reach $136.5 Billion by 2027

Amid the COVID-19 crisis, the global market for Solar Cells and Modules estimated at US$87.7 Billion in the year 2020, is projected to reach a revised size of US$136.5 Billion by 2027, growing at aCAGR of 6.5% over the period 2020-2027. Crystalline Silicon, one of the segments analyzed in the report, is projected to record 6.6% CAGR and reach US$120.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $9.2 Billion, While China is Forecast to Grow at 7.7% CAGR

The Solar Cells and Modules market in the U.S. is estimated at US$9.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$49.8 Billion by the year 2027 trailing a CAGR of 7.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.

Select Competitors (Total 131 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
• LONGi Solar Technology Co, Ltd
• ReneSola Ltd
• Risen Energy Co., Ltd
• Shanghai Aerospace Automobile Electromechanical Co., Ltd
• Sharp Solar
• Solar Frontier K.K
• SunPower Corporation
• Trina Solar Ltd
• Yingli