Data Bridge Market Research analyses that the Polycrystalline Solar Cell (Multi Si) Market was valued at USD 25,203.40 million in 2021 and is expected to reach USD 35,841.77 million by 2029, registering a CAGR of 4.50 % during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
The polycrystalline solar cell (Multi Si) market is driven by the high demand of renewable energy and upsurge in the electricity demand. Strict government regulations on carbon emission and limited availability of fossil fuels create the strong need for cost-effective and efficient sources such as solar energy. Polycrystalline solar cell (Multi Si) are highly efficient compared to other alternative technologies, such as non-silicon solar cells and amorphous silicon. Furthermore, introduction of advanced technology and increasing research and development activities are expected to boost the demand for the nanocrystal solar cell that will lead to the growth of the polycrystalline solar cell (Multi Si) market during the forecast period of 2022-2029.
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Global Polycrystalline Solar Cell (Multi Si) Market Drivers
- Increase in Awareness regarding Adverse impact on Environmental
The demand for polycrystalline solar cells (Multi Si) has increased since they are based on renewable sources of energy and there is a greater awareness among market participants and consumers of the negative environmental impact of other solar cells. Additionally, the market is positively impacted by the growing reliance on unconventional energy sources, which is anticipated to fuel the expansion of the polycrystalline solar cell (Multi Si) industry.
- Increase in the installation of Solar System
The rise in the number of solar system installation further influence the polycrystalline solar cell (Multi Si) market growth. The rise in demand for polycrystalline solar cell (Multi Si) due to rising need to decline the prices of solar cell modules are expected to drive the market growth.
Furthermore, change in lifestyle, surge in investments, rapid urbanization and augmented consumer spending positively impact the polycrystalline solar cell (Multi Si) market.
Some of the major players operating in the polycrystalline solar cell (Multi Si) market are:
- Exeger Operations AB (Sweden)
- Fujikura Europe Ltd. (U.K.)
- G24 Power Ltd. (U.K.)
- Konica Minolta Sensing Europe B.V. (Netherlands)
- Merck KGaA (Germany)
- Oxford PV (U.K.)
- Peccell Technologies, Inc. (Japan)
- Sharp Corporation (Japan)
- Solaronix SA (Switzerland)
- Sony Corporation (Japan)
- Ricoh (Japan)
- First Solar (U.S.)
- SunPower Corporation (U.S.)
- Suniva Inc (U.S.)
- Tata Power Solar Systems Ltd. (India)
- SHARP CORPORATION (Japan)
- ALPS Technology Inc. (U.S.)
- Solaris Technology Industry, Inc. (India)
- GREEN BRILLIANCE RENEWABLE ENERGY LLP (India)
- Trina Solar (China)
- Canadian Solar (Canada)
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Global polycrystalline Solar Cell (Multi Si) Market Scope
Grid Type
- Grid Connected
- Off-Grid
Installation
- Ground-Mount
- Rooftop Solar PV
Technology
- Crystalline Silicon Cells
- Thin Film Cells
- Ultra-Thin Film Cells
Application
- Residential
- Commercial
- Industrial
- Power Utilities
Crystalline Silicon Solar Cell Market Regional Analysis/Insights
The countries covered in the polycrystalline solar cell (Multi Si) market report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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