SAN FRANCISCO, May 13, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Solar Cells and Modules - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Engagements: 5697
Companies: 283– Players covered include 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 and Others.
Coverage: All major geographies and key segments
Segments: Technology (Crystalline Silicon, Thin Film); Application (Industrial, Commercial, Residential)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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Global Solar Cells and Modules Market to Reach $127.7 Billion by 2026
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$127.7 Billion by 2026, growing at a CAGR of 6.5% over the analysis period. 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 a thorough 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 $9.6 Billion in 2021, While China is Forecast to Reach $46.2 Billion by 2026
The Solar Cells and Modules market in the U.S. is estimated at US$9.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$$46.2 Billion by 2026 trailing a CAGR of 7.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. More
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