by The global monocrystalline solar cell market size was estimated to be around US$ 5.6 billion in 2022. It is projected to reach US$12.60 billion by 2032, indicating a CAGR of 8.5% from 2023 to 2032.
Key Takeaways
- North America contributed more than 36% of revenue share in 2022.
- Asia-Pacific is expected to grow at the fastest CAGR during the forecast period.
- By Grid Type, the grid-connected segment has held the highest revenue share of 67% in 2022.
- By Grid Type, the off-grid segment is anticipated to grow at a fastest CAGR of 7.8% during the projected period.
- By Application, the industrial segment has held the biggest market share of 39% in 2022.
- By Application, the AI system segment is estimated to grow at the fastest CAGR over the projected period.
- By Installation, the ground-mount solar PV segment contributed more than 67% in 2022.
- By Installation, the rooftop solar PV segment is anticipated to grow at the fastest CAGR over the projected period.
- By Technology, the crystalline silicon cells segment held the major revenue share of 45% in 2022.
- By Technology, the thin film cells segment is expected to grow at a notable CAGR of 8.6% over the predicted period.
The market research report on the Monocrystalline solar cell market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of Monocrystalline solar cell products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.
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Monocrystalline Solar Cell Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 8.5% |
| Market Size in 2023 | USD 6.04 Billion |
| Market Size by 2032 | USD 12.60 Billion |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Grid Type, By Application, By Technology, and By Installation |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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The report presents the volume and value-based market size for the base year 2022 and forecasts the market’s growth between 2023 and 2032. It estimates market numbers based on product form and application, providing size and forecast for each application segment in both global and regional markets.
Focusing on the global Monocrystalline solar cell market, the report highlights its status, future forecasts, growth opportunities, key market players, and key market regions such as the United States, Europe, and China. The study aims to present the development of the Monocrystalline solar cell market by considering factors like Year-on-Year (Y-o-Y) growth, in addition to Compound Annual Growth Rate (CAGR). This approach enables a better understanding of market certainty and the identification of lucrative opportunities.
Regarding production, the report investigates the capacity, production, value, ex-factory price, growth rate, and market share of major manufacturers, regions, and product types. On the consumption side, the report focuses on the regional consumption of Monocrystalline solar cell products across different countries and applications.
Buyers of the report gain access to verified market figures, including global market size in terms of revenue and volume. The report provides reliable estimations and calculations for global revenue and volume by product type from 2023 to 2032. It also includes accurate figures for production capacity and production by region during the same period.
The research includes product parameters, production processes, cost structures, and data classified by region, technology, and application. Furthermore, it conducts SWOT analysis and investment feasibility studies for new projects.
This in-depth research report offers valuable insights into the Monocrystalline solar cell market. It employs an objective and fair approach to analyze industry trends, supporting customer competition analysis, development planning, and investment decision-making. The project received support and assistance from technicians and marketing personnel across various links in the industry chain.
The competitive landscape section of the report provides detailed information on Monocrystalline solar cell market competitors. It includes company overviews, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites, production capacities, strengths and weaknesses, product launches, product range, and application dominance. However, the data points provided only focus on the companies’ activities related to the Monocrystalline solar cell market.
Prominent players in the market are expected to face tough competition from new entrants. Key players are targeting acquisitions of startup companies to maintain their dominance. The report
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Key Players
- First Solar, Inc.
- SunPower Corporation
- Canadian Solar Inc.
- JA Solar Holdings Co., Ltd.
- Trina Solar Limited
- JinkoSolar Holding Co., Ltd.
- LONGi Green Energy Technology Co., Ltd.
- Hanwha Q CELLS Co., Ltd.
- REC Group
- LG Electronics Inc.
- SolarWorld AG
- Yingli Solar
- Shunfeng International Clean Energy Limited (SFCE)
- Risen Energy Co., Ltd.
- GCL System Integration Technology Co., Ltd.
Segments Covered in the Report
By Grid Type
- Grid Connected
- Off-Grid
By Application
- Residential
- Commercial
- Industrial
- Power Utilities
By Technology
- Crystalline Silicon Cells
- Thin Film Cells
- Ultra-Thin Film Cells
By Installation
- Ground-Mount
- Rooftop Solar PV
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Monocrystalline Solar Cell Market
5.1. COVID-19 Landscape: Monocrystalline Solar Cell Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Monocrystalline Solar Cell Market, By Grid Type
8.1. Monocrystalline Solar Cell Market Revenue and Volume Forecast, by Grid Type, 2023-2032
8.1.1. Grid Connected
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Off-Grid
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Monocrystalline Solar Cell Market, By Application
9.1. Monocrystalline Solar Cell Market Revenue and Volume Forecast, by Application, 2023-2032
9.1.1. Residential
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Commercial
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Industrial
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Power Utilities
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Monocrystalline Solar Cell Market, By Technology
10.1. Monocrystalline Solar Cell Market Revenue and Volume Forecast, by Technology, 2023-2032
10.1.1. Crystalline Silicon Cells
10.1.1.1. Market Revenue and Volume Forecast (2020-2032)
10.1.2. Thin Film Cells
10.1.2.1. Market Revenue and Volume Forecast (2020-2032)
10.1.3. Ultra-Thin Film Cells
10.1.3.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 11. Global Monocrystalline Solar Cell Market, By Installation
11.1. Monocrystalline Solar Cell Market Revenue and Volume Forecast, by Installation, 2023-2032
11.1.1. Ground-Mount
11.1.1.1. Market Revenue and Volume Forecast (2020-2032)
11.1.2. Rooftop Solar PV
11.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 12. Global Monocrystalline Solar Cell Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.1.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.1.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.1.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.1.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.1.5.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.1.5.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.1.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.1.6.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.1.6.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.2.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.2.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.2.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.5.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.2.5.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.2.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.6.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.2.6.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.2.7.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.7.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.2.7.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.2.8.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.8.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.2.8.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.3.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.3.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.3.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.5.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.3.5.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.3.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.6.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.3.6.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.3.7.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.7.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.3.7.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.3.8.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.8.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.3.8.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.4.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.4.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.4.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.5.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.4.5.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.4.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.6.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.4.6.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.4.7.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.7.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.4.7.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.4.8.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.8.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.4.8.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.5.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.5.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.5.5.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.5.5.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.5.5.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Volume Forecast, by Grid Type (2020-2032)
12.5.6.2. Market Revenue and Volume Forecast, by Application (2020-2032)
12.5.6.3. Market Revenue and Volume Forecast, by Technology (2020-2032)
12.5.6.4. Market Revenue and Volume Forecast, by Installation (2020-2032)
Chapter 13. Company Profiles
13.1. First Solar, Inc.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. SunPower Corporation
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Canadian Solar Inc.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. JA Solar Holdings Co., Ltd.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Trina Solar Limited
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. JinkoSolar Holding Co., Ltd.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. LONGi Green Energy Technology Co., Ltd.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Hanwha Q CELLS Co., Ltd.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. REC Group
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. LG Electronics Inc.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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