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Solar Cell and Module Market By Type (Polycrystalline, Monocrystalline, Bificial, Thin Film, Others), By Product Type (N-Type, P-Type) By Module Efficiency (13-16%, 16-20%, 20-22%, 22-23.5%) By Application (Residential, Commercial, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

June 2024 | 550 pages | ID: SFE00248DBD8EN
Allied Market Research

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According t%li%a new report published The global solar cell and modules market was valued at $166.6 billion in 2023, and is projected t%li%reach $373.6 billion by 2033, growing at a CAGR of 8.3% from 2024 t%li%2033.

Solar cell—als%li%referred t%li%as photovoltaic cell—is a device that converts light directly int%li%electricity by the photovoltaic effect. Solar cells and modules reduce the cost of solar electricity by improving the efficiency of photovoltaic cell, thereby lowering manufacturing costs while increasing the service life of module.

The growth of the global solar cell and modules market is majorly driven by increase in demand for electricity coupled with rise in awareness and adoption of renewable energy. According t%li%a report published by the International Renewable Energy Agency (IRENA), solar power is estimated t%li%contribute t%li%86% of global power demand by 2050. In addition, the goal of many countries t%li%achieve net-zer%li%emissions has shifted their preference toward cleaner and more sustainable energy sources, which significantly fuels the demand for solar cell and modules. This is attributed t%li%the fact that solar energy significantly reduces carbon dioxide and other greenhouse gas emission. For instance, according t%li%the U.S. Energy Information Administration, North Carolina is the second highest solar-producing state in the U.S. that generated 5.4% of its electricity from solar power in 2019. However, high installation cost of solar modules and efficiency issues of solar cells hinder the growth of the market. For instance, solar module exhibits efficiency ranging from 15% t%li%22%, which implies that merely 15–22% of the sunlight that falls on the modules gets converted int%li%electricity and utilized as a power source. On the contrary, increase in government initiatives t%li%promote the use of solar cells and modules is expected t%li%offer remunerative opportunities for the expansion of the global market during the forecast period. For instance, the U.S. Department of Energy (DOE) Solar Energy Technologies Office (SETO) Small Innovative Projects in Solar (SIPS) 2022 Funding Program funds innovative R&D projects, which focus on accelerating the development and deployment of photovoltaics and concentrating solar-thermal power technologies. Furthermore, technological developments are expected t%li%open new avenues for the growth of the market. Although perovskite solar cells are highly efficient, cost-effective, and lightweight, they have demonstrated durability issues that reduce the technology’s usefulness in solar energy production. Thus, researchers from Monash University, the University of Oxford, and the City University of Hong Kong have developed perovskite solar cells with enhanced stability and performance by applying a material engineering strategy, called “self-healing.” This property enables the solar cells t%li%repair minute defects caused by exposure t%li%heat and moisture.

The global solar cell and modules market is segmented on the basis by type, product type, module efficiency, application, and region. By type, the market is classified polycrystalline, monocrystalline, bifacial, thin film, and others. On the basis of product type, it is bifurcated int%li%N-Type and P-Type. Depending on module efficiency, it is categorized int%li%13-16%, 16-20%, 20-22%, and 22-23.5%. By application, it is fragmented int%li%residential, commercial, and utility scale. Region wise, the market is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By type, the mono-crystalline segment is expected t%li%maintain its lead position by 2023.

Depending on product type, the P-Type segment is projected t%li%lead the market in the coming future.

On the basis of module efficiency, the 20-22% segment is anticipated t%li%gain high prominence in the coming future.

As per application, the commercial segment is expected t%li%exhibit the highest CAGR during the forecast period.

Region wise, Asia-Pacific t%li%maintain its dominance by 2033.

Competitive Analysis

The major players operating in the solar cell and modules include Novasys, Saatvik Solar, Insolation Energy Ltd., SunGarner Energies Ltd., Allesun, AIKO, Centr%li%Energy Co., Ltd, aolisolar, DAS Solar, and AIDU ENERGY. Other players include Rhine Solar Ltd., VIKRAM SOLAR LTD., EMMVEE SOLAR, RenewSys India Pvt. Ltd., and Photon Energy Systems. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements t%li%maintain their dominance in the market and sustain the intense competition.

Additional benefits you will get with this purchase are:
  • Quarterly Update and* (only available with a corporate license, on listed price)
  • 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
  • Free Upcoming Version on the Purchase of Five and Enterprise User License.
      • 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting t%li%16 analyst hours t%li%solve questions, and post-sale queries)
    • 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent t%li%3 working days of free work, applicable once)
  • Free data Pack on the Five and Enterprise User License. (Excel version of the report)
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Possible Customization with this report (with additional cost and timeline, please talk t%li%the sales executive t%li%know more)
  • Manufacturing Capacity
  • Investment Opportunities
  • Product Life Cycles
  • Technology Trend Analysis
  • Patient/epidemiology data at country, region, global level
  • Regulatory Guidelines
    • Additional company profiles with specific t%li%client's interest
  • Additional country or region analysis- market size and forecast
  • Average Selling Price Analysis / Price Point Analysis
  • Expanded list for Company Profiles
  • Historic market data
  • List of customers/consumers/raw material suppliers- value chain analysis
  • SWOT Analysis
Key Market Segments

By Type
  • Polycrystalline
  • Monocrystalline
  • Bificial
  • Thin Film
  • Others
By Product Type
  • N-Type
  • P-Type
By Module Efficiency
  • 13-16%
  • 16-20%
  • 20-22%
  • 22-23.5%
By Application
  • Residential
  • Commercial
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
  • Key Market Players
  • Novasys
  • Saatvik Solar
  • Insolation Energy Ltd.
  • SunGarner Energies Ltd
  • Allesun
  • AIKO
    • Centr%li%Energy Co., Ltd
  • aolisolar
  • DAS Solar
  • AIDU ENERGY
CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
  1.4.1. Primary Research
  1.4.2. Secondary Research
  1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
  3.2.1. Top Investment Pockets
  3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
  3.3.1. Bargaining Power of Suppliers
  3.3.2. Threat of New Entrants
  3.3.3. Threat of Substitutes
  3.3.4. Competitive Rivalry
  3.3.5. Bargaining Power among Buyers
3.5. Market Dynamics
  3.5.1. Drivers
  3.5.2. Restraints
  3.5.3. Opportunities

CHAPTER 4: POWER OVER ETHERNET LIGHTING MARKET, BY OFFERING

4.1. Market Overview
  4.1.1 Market Size and Forecast, By offering
4.2. Hardware
  4.2.1. Key Market Trends, Growth Factors and Opportunities
  4.2.2. Market Size and Forecast, By Region
  4.2.3. Market Share Analysis, By Country
4.3. Software
  4.3.1. Key Market Trends, Growth Factors and Opportunities
  4.3.2. Market Size and Forecast, By Region
  4.3.3. Market Share Analysis, By Country
4.4. Services
  4.4.1. Key Market Trends, Growth Factors and Opportunities
  4.4.2. Market Size and Forecast, By Region
  4.4.3. Market Share Analysis, By Country

CHAPTER 5: POWER OVER ETHERNET LIGHTING MARKET, BY WATTAGE

5.1. Market Overview
  5.1.1 Market Size and Forecast, By Wattage
5.2. Up To 25 Watt
  5.2.1. Key Market Trends, Growth Factors and Opportunities
  5.2.2. Market Size and Forecast, By Region
  5.2.3. Market Share Analysis, By Country
5.3. Above 25 Watt
  5.3.1. Key Market Trends, Growth Factors and Opportunities
  5.3.2. Market Size and Forecast, By Region
  5.3.3. Market Share Analysis, By Country

CHAPTER 6: POWER OVER ETHERNET LIGHTING MARKET, BY APPLICATION

6.1. Market Overview
  6.1.1 Market Size and Forecast, By Application
6.2. Commercial
  6.2.1. Key Market Trends, Growth Factors and Opportunities
  6.2.2. Market Size and Forecast, By Region
  6.2.3. Market Share Analysis, By Country
6.3. Residential
  6.3.1. Key Market Trends, Growth Factors and Opportunities
  6.3.2. Market Size and Forecast, By Region
  6.3.3. Market Share Analysis, By Country
6.4. Industrial
  6.4.1. Key Market Trends, Growth Factors and Opportunities
  6.4.2. Market Size and Forecast, By Region
  6.4.3. Market Share Analysis, By Country

CHAPTER 7: POWER OVER ETHERNET LIGHTING MARKET, BY REGION

7.1. Market Overview
  7.1.1 Market Size and Forecast, By Region
7.2. North America
  7.2.1. Key Market Trends and Opportunities
  7.2.2. Market Size and Forecast, By offering
  7.2.3. Market Size and Forecast, By Wattage
  7.2.4. Market Size and Forecast, By Application
  7.2.5. Market Size and Forecast, By Country
  7.2.6. U.S. Power Over Ethernet Lighting Market
    7.2.6.1. Market Size and Forecast, By offering
    7.2.6.2. Market Size and Forecast, By Wattage
    7.2.6.3. Market Size and Forecast, By Application
  7.2.7. Canada Power Over Ethernet Lighting Market
    7.2.7.1. Market Size and Forecast, By offering
    7.2.7.2. Market Size and Forecast, By Wattage
    7.2.7.3. Market Size and Forecast, By Application
  7.2.8. Mexico Power Over Ethernet Lighting Market
    7.2.8.1. Market Size and Forecast, By offering
    7.2.8.2. Market Size and Forecast, By Wattage
    7.2.8.3. Market Size and Forecast, By Application
7.3. Europe
  7.3.1. Key Market Trends and Opportunities
  7.3.2. Market Size and Forecast, By offering
  7.3.3. Market Size and Forecast, By Wattage
  7.3.4. Market Size and Forecast, By Application
  7.3.5. Market Size and Forecast, By Country
  7.3.6. Germany Power Over Ethernet Lighting Market
    7.3.6.1. Market Size and Forecast, By offering
    7.3.6.2. Market Size and Forecast, By Wattage
    7.3.6.3. Market Size and Forecast, By Application
  7.3.7. UK Power Over Ethernet Lighting Market
    7.3.7.1. Market Size and Forecast, By offering
    7.3.7.2. Market Size and Forecast, By Wattage
    7.3.7.3. Market Size and Forecast, By Application
  7.3.8. France Power Over Ethernet Lighting Market
    7.3.8.1. Market Size and Forecast, By offering
    7.3.8.2. Market Size and Forecast, By Wattage
    7.3.8.3. Market Size and Forecast, By Application
  7.3.9. Spain Power Over Ethernet Lighting Market
    7.3.9.1. Market Size and Forecast, By offering
    7.3.9.2. Market Size and Forecast, By Wattage
    7.3.9.3. Market Size and Forecast, By Application
  7.3.10. Italy Power Over Ethernet Lighting Market
    7.3.10.1. Market Size and Forecast, By offering
    7.3.10.2. Market Size and Forecast, By Wattage
    7.3.10.3. Market Size and Forecast, By Application
  7.3.11. Rest of Europe Power Over Ethernet Lighting Market
    7.3.11.1. Market Size and Forecast, By offering
    7.3.11.2. Market Size and Forecast, By Wattage
    7.3.11.3. Market Size and Forecast, By Application
7.4. Asia-Pacific
  7.4.1. Key Market Trends and Opportunities
  7.4.2. Market Size and Forecast, By offering
  7.4.3. Market Size and Forecast, By Wattage
  7.4.4. Market Size and Forecast, By Application
  7.4.5. Market Size and Forecast, By Country
  7.4.6. China Power Over Ethernet Lighting Market
    7.4.6.1. Market Size and Forecast, By offering
    7.4.6.2. Market Size and Forecast, By Wattage
    7.4.6.3. Market Size and Forecast, By Application
  7.4.7. India Power Over Ethernet Lighting Market
    7.4.7.1. Market Size and Forecast, By offering
    7.4.7.2. Market Size and Forecast, By Wattage
    7.4.7.3. Market Size and Forecast, By Application
  7.4.8. Japan Power Over Ethernet Lighting Market
    7.4.8.1. Market Size and Forecast, By offering
    7.4.8.2. Market Size and Forecast, By Wattage
    7.4.8.3. Market Size and Forecast, By Application
  7.4.9. South Korea Power Over Ethernet Lighting Market
    7.4.9.1. Market Size and Forecast, By offering
    7.4.9.2. Market Size and Forecast, By Wattage
    7.4.9.3. Market Size and Forecast, By Application
  7.4.10. Australia Power Over Ethernet Lighting Market
    7.4.10.1. Market Size and Forecast, By offering
    7.4.10.2. Market Size and Forecast, By Wattage
    7.4.10.3. Market Size and Forecast, By Application
  7.4.11. Rest of Asia-Pacific Power Over Ethernet Lighting Market
    7.4.11.1. Market Size and Forecast, By offering
    7.4.11.2. Market Size and Forecast, By Wattage
    7.4.11.3. Market Size and Forecast, By Application
7.5. LAMEA
  7.5.1. Key Market Trends and Opportunities
  7.5.2. Market Size and Forecast, By offering
  7.5.3. Market Size and Forecast, By Wattage
  7.5.4. Market Size and Forecast, By Application
  7.5.5. Market Size and Forecast, By Country
  7.5.6. Brazil Power Over Ethernet Lighting Market
    7.5.6.1. Market Size and Forecast, By offering
    7.5.6.2. Market Size and Forecast, By Wattage
    7.5.6.3. Market Size and Forecast, By Application
  7.5.7. Saudi Arabia Power Over Ethernet Lighting Market
    7.5.7.1. Market Size and Forecast, By offering
    7.5.7.2. Market Size and Forecast, By Wattage
    7.5.7.3. Market Size and Forecast, By Application
  7.5.8. South Africa Power Over Ethernet Lighting Market
    7.5.8.1. Market Size and Forecast, By offering
    7.5.8.2. Market Size and Forecast, By Wattage
    7.5.8.3. Market Size and Forecast, By Application
  7.5.9. Rest of LAMEA Power Over Ethernet Lighting Market
    7.5.9.1. Market Size and Forecast, By offering
    7.5.9.2. Market Size and Forecast, By Wattage
    7.5.9.3. Market Size and Forecast, By Application

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023

CHAPTER 9: COMPANY PROFILES

9.1. ALLNet GmbH
  9.1.1. Company Overview
  9.1.2. Key Executives
  9.1.3. Company Snapshot
  9.1.4. Operating Business Segments
  9.1.5. Product Portfolio
  9.1.6. Business Performance
  9.1.7. Key Strategic Moves and Developments
9.2. Axis Lighting
  9.2.1. Company Overview
  9.2.2. Key Executives
  9.2.3. Company Snapshot
  9.2.4. Operating Business Segments
  9.2.5. Product Portfolio
  9.2.6. Business Performance
  9.2.7. Key Strategic Moves and Developments
9.3. Cisco Systems, Inc.
  9.3.1. Company Overview
  9.3.2. Key Executives
  9.3.3. Company Snapshot
  9.3.4. Operating Business Segments
  9.3.5. Product Portfolio
  9.3.6. Business Performance
  9.3.7. Key Strategic Moves and Developments
9.4. H.E. Williams, Inc
  9.4.1. Company Overview
  9.4.2. Key Executives
  9.4.3. Company Snapshot
  9.4.4. Operating Business Segments
  9.4.5. Product Portfolio
  9.4.6. Business Performance
  9.4.7. Key Strategic Moves and Developments
9.5. Waldmann Lighting
  9.5.1. Company Overview
  9.5.2. Key Executives
  9.5.3. Company Snapshot
  9.5.4. Operating Business Segments
  9.5.5. Product Portfolio
  9.5.6. Business Performance
  9.5.7. Key Strategic Moves and Developments
9.6. HUBBELL
  9.6.1. Company Overview
  9.6.2. Key Executives
  9.6.3. Company Snapshot
  9.6.4. Operating Business Segments
  9.6.5. Product Portfolio
  9.6.6. Business Performance
  9.6.7. Key Strategic Moves and Developments
9.7. Molex
  9.7.1. Company Overview
  9.7.2. Key Executives
  9.7.3. Company Snapshot
  9.7.4. Operating Business Segments
  9.7.5. Product Portfolio
  9.7.6. Business Performance
  9.7.7. Key Strategic Moves and Developments
9.8. Signify Holding
  9.8.1. Company Overview
  9.8.2. Key Executives
  9.8.3. Company Snapshot
  9.8.4. Operating Business Segments
  9.8.5. Product Portfolio
  9.8.6. Business Performance
  9.8.7. Key Strategic Moves and Developments
9.9. Wipro Lighting
  9.9.1. Company Overview
  9.9.2. Key Executives
  9.9.3. Company Snapshot
  9.9.4. Operating Business Segments
  9.9.5. Product Portfolio
  9.9.6. Business Performance
  9.9.7. Key Strategic Moves and Developments
9.10. Innovative Lighting LLC
  9.10.1. Company Overview
  9.10.2. Key Executives
  9.10.3. Company Snapshot
  9.10.4. Operating Business Segments
  9.10.5. Product Portfolio
  9.10.6. Business Performance
  9.10.7. Key Strategic Moves and Developments


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