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Report ID: SQMIG15A2287
Report ID:
SQMIG15A2287 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
34 |
Figures:
74
Photovoltaic Materials Market size was valued at USD 23.20 billion in 2021 and is poised to grow from USD 26.4 billion in 2022 to USD 55.86 billion by 2030, growing at a CAGR of 8.4% in the forecast period (2023-2030).
The global photovoltaic materials market is experiencing significant growth due to the increasing demand for solar energy as a clean and renewable source of power.
The market is driven by the growing adoption of photovoltaic systems in residential, commercial, and utility-scale applications. Photovoltaic materials, such as silicon, cadmium telluride, and copper indium gallium selenide, play a crucial role in the conversion of sunlight into electricity.
The market is witnessing advancements in materials technology, including the development of new materials with improved efficiency and durability.
Additionally, supportive government policies and incentives promoting the use of solar energy are further fueling the market growth. The global photovoltaic materials market is expected to continue its upward trajectory in the coming years as solar energy becomes increasingly mainstream and cost-effective.
US Photovoltaic Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG15A2287