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Solar Cell Market Size, Share, and Trends 2024 to 2034

The global solar cell market size is calculated at USD 149.45 billion in 2024, grew to USD 175.15 billion in 2025, and is predicted to hit around USD 730.74 billion by 2034, representing a healthy CAGR of 17.2% between 2024 and 2034. The Asia Pacific solar cell market size accounted for USD 73.23 billion in 2024 and is anticipated to grow at the fastest CAGR of 17.32% during the forecast year.

  • Last Updated : October 2024
  • Report Code : 2339
  • Category : Energy and Power

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

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 Solar Cell Market 

5.1. COVID-19 Landscape: 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

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 Solar Cell Market, By Material

8.1. Solar Cell Market, by Material, 2024-2034

8.1.1. Crystalline

8.1.1.1. Market Revenue and Forecast (2021-2034)

8.1.2. Thin Film

8.1.2.1. Market Revenue and Forecast (2021-2034)

Chapter 9. Global Solar Cell Market, By Product

9.1. Solar Cell Market, by Product, 2024-2034

9.1.1. BSF

9.1.1.1. Market Revenue and Forecast (2021-2034)

9.1.2. PERC/PERL/PERT/TOPCON

9.1.2.1. Market Revenue and Forecast (2021-2034)

9.1.3. HJT

9.1.3.1. Market Revenue and Forecast (2021-2034)

9.1.4. IBC & MWT

9.1.4.1. Market Revenue and Forecast (2021-2034)

9.1.5. Others

9.1.5.1. Market Revenue and Forecast (2021-2034)

Chapter 10. Global Solar Cell Market, By Technology 

10.1. Solar Cell Market, by Technology, 2024-2034

10.1.1. Monocrystalline

10.1.1.1. Market Revenue and Forecast (2021-2034)

10.1.2. Polycrystalline

10.1.2.1. Market Revenue and Forecast (2021-2034)

10.1.3. Cadmium Telluride (CDTE)

10.1.3.1. Market Revenue and Forecast (2021-2034)

10.1.4. Amorphous Silicon (A-Si)

10.1.4.1. Market Revenue and Forecast (2021-2034)

10.1.5. Copper Indium Gallium Diselenide

10.1.5.1. Market Revenue and Forecast (2021-2034)

Chapter 11. Global Solar Cell Market, By Installation Type 

11.1. Solar Cell Market, by Installation Type, 2024-2034

11.1.1. Residential

11.1.1.1. Market Revenue and Forecast (2021-2034)

11.1.2. Commercial

11.1.2.1. Market Revenue and Forecast (2021-2034)

11.1.3. Utility

11.1.3.1. Market Revenue and Forecast (2021-2034)

Chapter 12. Global Solar Cell Market, Regional Estimates and Trend Forecast

12.1. North America

12.1.1. Market Revenue and Forecast, by Material (2021-2034)

12.1.2. Market Revenue and Forecast, by Product (2021-2034)

12.1.3. Market Revenue and Forecast, by Technology (2021-2034)

12.1.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.1.5. U.S.

12.1.5.1. Market Revenue and Forecast, by Material (2021-2034)

12.1.5.2. Market Revenue and Forecast, by Product (2021-2034)

12.1.5.3. Market Revenue and Forecast, by Technology (2021-2034)

12.1.5.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.1.6. Rest of North America

12.1.6.1. Market Revenue and Forecast, by Material (2021-2034)

12.1.6.2. Market Revenue and Forecast, by Product (2021-2034)

12.1.6.3. Market Revenue and Forecast, by Technology (2021-2034)

12.1.6.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.2. Europe

12.2.1. Market Revenue and Forecast, by Material (2021-2034)

12.2.2. Market Revenue and Forecast, by Product (2021-2034)

12.2.3. Market Revenue and Forecast, by Technology (2021-2034)

12.2.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.2.5. UK

12.2.5.1. Market Revenue and Forecast, by Material (2021-2034)

12.2.5.2. Market Revenue and Forecast, by Product (2021-2034)

12.2.5.3. Market Revenue and Forecast, by Technology (2021-2034)

12.2.5.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.2.6. Germany

12.2.6.1. Market Revenue and Forecast, by Material (2021-2034)

12.2.6.2. Market Revenue and Forecast, by Product (2021-2034)

12.2.6.3. Market Revenue and Forecast, by Technology (2021-2034)

12.2.6.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.2.7. France

12.2.7.1. Market Revenue and Forecast, by Material (2021-2034)

12.2.7.2. Market Revenue and Forecast, by Product (2021-2034)

12.2.7.3. Market Revenue and Forecast, by Technology (2021-2034)

12.2.7.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.2.8. Rest of Europe

12.2.8.1. Market Revenue and Forecast, by Material (2021-2034)

12.2.8.2. Market Revenue and Forecast, by Product (2021-2034)

12.2.8.3. Market Revenue and Forecast, by Technology (2021-2034)

12.2.8.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.3. APAC

12.3.1. Market Revenue and Forecast, by Material (2021-2034)

12.3.2. Market Revenue and Forecast, by Product (2021-2034)

12.3.3. Market Revenue and Forecast, by Technology (2021-2034)

12.3.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.3.5. India

12.3.5.1. Market Revenue and Forecast, by Material (2021-2034)

12.3.5.2. Market Revenue and Forecast, by Product (2021-2034)

12.3.5.3. Market Revenue and Forecast, by Technology (2021-2034)

12.3.5.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.3.6. China

12.3.6.1. Market Revenue and Forecast, by Material (2021-2034)

12.3.6.2. Market Revenue and Forecast, by Product (2021-2034)

12.3.6.3. Market Revenue and Forecast, by Technology (2021-2034)

12.3.6.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.3.7. Japan

12.3.7.1. Market Revenue and Forecast, by Material (2021-2034)

12.3.7.2. Market Revenue and Forecast, by Product (2021-2034)

12.3.7.3. Market Revenue and Forecast, by Technology (2021-2034)

12.3.7.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.3.8. Rest of APAC

12.3.8.1. Market Revenue and Forecast, by Material (2021-2034)

12.3.8.2. Market Revenue and Forecast, by Product (2021-2034)

12.3.8.3. Market Revenue and Forecast, by Technology (2021-2034)

12.3.8.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.4. MEA

12.4.1. Market Revenue and Forecast, by Material (2021-2034)

12.4.2. Market Revenue and Forecast, by Product (2021-2034)

12.4.3. Market Revenue and Forecast, by Technology (2021-2034)

12.4.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.4.5. GCC

12.4.5.1. Market Revenue and Forecast, by Material (2021-2034)

12.4.5.2. Market Revenue and Forecast, by Product (2021-2034)

12.4.5.3. Market Revenue and Forecast, by Technology (2021-2034)

12.4.5.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.4.6. North Africa

12.4.6.1. Market Revenue and Forecast, by Material (2021-2034)

12.4.6.2. Market Revenue and Forecast, by Product (2021-2034)

12.4.6.3. Market Revenue and Forecast, by Technology (2021-2034)

12.4.6.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.4.7. South Africa

12.4.7.1. Market Revenue and Forecast, by Material (2021-2034)

12.4.7.2. Market Revenue and Forecast, by Product (2021-2034)

12.4.7.3. Market Revenue and Forecast, by Technology (2021-2034)

12.4.7.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.4.8. Rest of MEA

12.4.8.1. Market Revenue and Forecast, by Material (2021-2034)

12.4.8.2. Market Revenue and Forecast, by Product (2021-2034)

12.4.8.3. Market Revenue and Forecast, by Technology (2021-2034)

12.4.8.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.5. Latin America

12.5.1. Market Revenue and Forecast, by Material (2021-2034)

12.5.2. Market Revenue and Forecast, by Product (2021-2034)

12.5.3. Market Revenue and Forecast, by Technology (2021-2034)

12.5.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.5.5. Brazil

12.5.5.1. Market Revenue and Forecast, by Material (2021-2034)

12.5.5.2. Market Revenue and Forecast, by Product (2021-2034)

12.5.5.3. Market Revenue and Forecast, by Technology (2021-2034)

12.5.5.4. Market Revenue and Forecast, by Installation Type (2021-2034)

12.5.6. Rest of LATAM

12.5.6.1. Market Revenue and Forecast, by Material (2021-2034)

12.5.6.2. Market Revenue and Forecast, by Product (2021-2034)

12.5.6.3. Market Revenue and Forecast, by Technology (2021-2034)

12.5.6.4. Market Revenue and Forecast, by Installation Type (2021-2034)

Chapter 13. Company Profiles

13.1. Panasonic Corporation

13.1.1. Company Overview

13.1.2. Product Offerings

13.1.3. Financial Performance

13.1.4. Recent Initiatives

13.2. JINERGY

13.2.1. Company Overview

13.2.2. Product Offerings

13.2.3. Financial Performance

13.2.4. Recent Initiatives

13.3. Hevel

13.3.1. Company Overview

13.3.2. Product Offerings

13.3.3. Financial Performance

13.3.4. Recent Initiatives

13.4. ReneSola

13.4.1. Company Overview

13.4.2. Product Offerings

13.4.3. Financial Performance

13.4.4. Recent Initiatives

13.5. United Renewable Energy, LLC

13.5.1. Company Overview

13.5.2. Product Offerings

13.5.3. Financial Performance

13.5.4. Recent Initiatives

13.6. SunPower Corporation

13.6.1. Company Overview

13.6.2. Product Offerings

13.6.3. Financial Performance

13.6.4. Recent Initiatives

13.7. Risen Solar

13.7.1. Company Overview

13.7.2. Product Offerings

13.7.3. Financial Performance

13.7.4. Recent Initiatives

13.8. Trina Solar

13.8.1. Company Overview

13.8.2. Product Offerings

13.8.3. Financial Performance

13.8.4. Recent Initiatives

13.9. Jinko Solar

13.9.1. Company Overview

13.9.2. Product Offerings

13.9.3. Financial Performance

13.9.4. 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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Frequently Asked Questions

The global solar cell market size calculated at USD 149.45 billion in 2024 and it is expected to reach around USD 730.74 billion by 2034.

The global solar cell market is poised to grow at a CAGR of 17.2% from 2024 to 2034.

The major players operating in the solar cell market are Panasonic Corporation, JINERGY, Hevel, ReneSola, United Renewable Energy, LLC, SunPower Corporation, Risen Solar, Trina Solar, Jinko Solar

The increasing use of renewable energy sources for electricity generation, growing cost of fossil fuels, growing concern for the environment about carbon emissions and greenhouse gases and rising government initiatives and encouraging laws to lessen the adverse effects of hazardous gas emissions, these are driving factor of the solar cell market.

Asia Pacific region will lead the global solar cell market during the forecast period 2024 to 2034.

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