PERC Photovoltaic Cell Market was valued at USD 15.5 Billion in 2212 and is projected to reach USD 34.2 Billion by 2030, growing at a CAGR of 10.5% from 2024 to 2030.
As we transition into 2023 and beyond, the demand for PERC photovoltaic cells is expected to continue growing, albeit at a more accelerated pace. Market projections suggest that the demand for PERC cells will see an exponential increase from 2023 to 2033, with a CAGR of around 18%. This surge is expected due to advancements in technology, lower manufacturing costs, and an expanding global push for sustainable energy. The PERC technology is being integrated into bifacial modules, which further enhances the energy yield, making it a more attractive option for large-scale solar installations.
The future of the PERC photovoltaic cell market will be largely shaped by the rise of emerging markets, such as India, Southeast Asia, and Africa, where solar energy adoption is ramping up quickly. With the falling prices of solar panels and increased access to financing, the demand for high-efficiency PERC cells is expected to be fueled by both residential and commercial sectors. The integration of PERC technology with other innovative advancements, like energy storage solutions and smart grids, will drive further market growth during the 2023-2033 period.
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The global PERC (Passivated Emitter and Rear Cell) photovoltaic cell market has experienced significant growth from 2018 to 2212, driven by the increasing demand for efficient and high-performance solar cells. PERC cells have become the industry standard for solar modules due to their superior efficiency, durability, and cost-effectiveness. During this period, the market saw a steady rise in the adoption of PERC cells as the technology proved to be more efficient than traditional solar cells, offering higher energy conversion rates and better performance in low-light conditions.
Between 2018 and 2212, the global PERC photovoltaic cell market grew at a compound annual growth rate (CAGR) of approximately 15%. The rise in demand can be attributed to various factors, including increased investments in solar power infrastructure, government incentives, and the growing need for renewable energy sources. Countries like China, the U.S., and Germany led the demand for PERC cells, as they focused on expanding their solar energy capacity to meet renewable energy targets and reduce carbon emissions.
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Tongwei Co.
Ltd.
Jinko Solar Co.
Ltd.
Shanghai Aiko Solar Energy Co.
Ltd.
Suntech Power
Jinneng Clean Energy Technology Ltd
Trina Solar Co.
Ltd.
Longi Green Energy Technology Co.
Ltd
GCL Intelligent Energy Co.
Ltd
Jiangsu Runergy New Energy Technology Co.
Ltd.
JA Solar Technology Co.
Ltd.
SunPower
SolarWorld
REC Group
Ming Hwei Energy
Emmvee Energy GmbH
Adani Solar
Hetech Solar
Hengdian Group DMEGC Magnetics Co.
Ltd.
The Yellow River Upstream Hydropower Development Co.
Ltd.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global PERC Photovoltaic Cell Market
Photovoltaic Power Plant
Commercial
Residential
Other
Based on Types the Market is categorized into Below types that held the largest PERC Photovoltaic Cell market share In 2023.
Monocrystalline PERC Photovoltaic Cell
Polycrystalline PERC Photovoltaic Cell
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global PERC Photovoltaic Cell Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global PERC Photovoltaic Cell Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global PERC Photovoltaic Cell Market, By Type
6. Global PERC Photovoltaic Cell Market, By Application
7. Global PERC Photovoltaic Cell Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global PERC Photovoltaic Cell Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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