Dublin, 10 August 2023 (Globe Newswire) — “Solar Cell Global Strategic Business Report” report added of ResearchAndMarkets.com Recruitment.
The global photovoltaic market is experiencing significant growth due to the increasing demand for renewable energy sources and the shift towards sustainable practices.
Major geographic regions such as the United States, Canada, Japan, China, Europe, Asia Pacific, Latin America, Middle East, and Africa are seeing increasing adoption of solar cells.
The market analysis focuses on different capacity ranges and covers various battery technologies including lithium-ion, lead-acid and other battery technologies. United States, Japan, China and Europe are among the major players in the solar market.
Factors such as technological advancement, government incentives, and environmental awareness are contributing to the expansion of this market. As the world moves towards a greener future, solar cells are expected to play a key role in the continued growth of energy storage and renewable energy sources.
Global Solar Market Expected to Reach $442.2 Million by 2030
Global solar cell market, estimated at US$172.1 million in 2022, is projected to reach US$442.2 million by 2030 after a revised business environment due to changes in business environment after COVID-19 and is projected to grow at a CAGR of 12.5% according to analysis results. The period is from 2022 to 2030.
Lithium ion, one of the segments analyzed in the report, registered a CAGR of 13.8% and is projected to reach USD 202.1 million by the end of the analysis period. Given the continued recovery post-pandemic, the growth of the lead-acid sector will readjust to a revised CAGR of 13.2% over the next eight years.
The US market is estimated at $46.3 million, while China is projected to grow at a CAGR of 16.8%
The US solar market is estimated at USD 46.3 million in 2022. China, the world’s second largest economy, is projected to reach her US$103.8 million in projected market size by 2030, remaining at her CAGR of 16.8% year-on-year. The analysis period is from 2022 to 2030.
Other notable geographic markets include Japan and Canada, which are expected to grow by 9.3% and 10.3% respectively over the period 2022-2030. Among Europe, Germany is projected to grow at her CAGR of around 10%.
What’s new for 2023?
- Special report on the Russian-Ukrainian war. global inflation. Ease of zero-corona policy in China and ‘difficult’ reopening. Supply chain disruptions, global trade conflicts. and recession risk.
- Global competitiveness and market share percentage of major competitors
- Market presence across multiple geographies – strong/active/niche/small
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- 1 year of free updates
Some of the companies mentioned in this report include:
- ABB Co., Ltd.
- ABB Spa
- Aholo Solar SL
- Artesyn Embedded Power
- BAE Battelian GmbH
- Battery Energy Power Solutions Pty
- Toledo Corporation battery wholesale
- Battery Biz Co., Ltd.
- battery du khan
- BELECTRIC Solar & Battery GmbH
For more information on this report, please visit: https://www.researchandmarkets.com/r/9pztpp
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