Iran Solar Photovoltaic (PV) Cell Market: Current Analysis and Forecast (2023-2030)

Report Description

The Iran Solar Photovoltaic (PV) Cell Market is expected to grow at a strong CAGR of 19.2% during the forecast period. It is mainly owing to the government programs and incentives to promote cleaner renewable energy in order to meet climate change policies. Moreover, the need to meet net zero emission goals across the globe in various countries and rising consumer awareness towards environmentally friendly energy is acting as a catalyst in the growth of Iran Solar Photovoltaic (PV) Cell during the projected period. Programmes such as the Iran government planning to build 110,000 solar power stations with a five-kilowatt (KW) capacity for low-income families in the coming years have sparked the interest of solar PV investors in the region.

Furthermore, key players in the market are also launching new products and technology to increase the yield of Solar Photovoltaic (PV) Cell products and produce more environmentally friendly products not based on silicon in the projected period. Iran is becoming one of the most prominent locations for solar PV. Projects such as the 1.5 megawatt (MW) photovoltaic installation, which was completed by Shahrekord Cement Industries Company, an Iranian cement producer, show that the Iranian market is growing. A large-scale PV plant capable of producing 10 MW was recently completed by Gostaresh Energy in Yazd Province in central Iran, and a project of similar size led by Carlo Maresca, an Italian company, was installed on Qeschm Island. Inverters with an operating range from -40 to +60 were selected for these projects. Moreover, The head of Iran’s Renewable Energy and Energy Efficiency Organization, SATBA, has stated that his organization intends to establish at least a solar park in every province in partnership with Iran Small Industries and Industrial Parks Organization or ISIPO.

Some of the major players operating in the market include First Solar Inc., Astronergy (Chint Solar Co. Ltd.), JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd., Canadian Solar Inc., JA Solar Technology Co., Trina Solar Co. Ltd., Risen Energy Co. Ltd., Suntech Power Holdings Co. Ltd., and Hanwha Q CELLS Co. Ltd.

Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Deployment, the Rooftop segment held a dominating share of the market in 2021”

Based on deployment, the Iran Solar Photovoltaic (PV) Cell market is bifurcated into Rooftop and Ground-Mounted segments. The rooftop segment acquired a majority share in the Solar PV market and is expected to register a substantial growth rate during the forecast period. A Rooftop PV system means a PV system that has electricity-generating solar panels mounted on the rooftop of a building or structure. Most rooftop PV systems are usually residential and much smaller when compared to utility-scale solar ground-mounted systems. Most residential rooftop PV systems are in the range of 5-20 kW while commercial rooftop-mounted systems can range from 100 kW to 1 MW. many large rooftops have built industrial-scale PV systems in the range of 10 MW.

“Amongst Capacity, the Below 10 kWp in Rooftop Capacity and Below 750 kWp in Ground-mounted Capacity segment held the majority share of the market in 2021”

Based on capacity, the Iran Solar Photovoltaic (PV) Cell market is bifurcated into rooftop capacity and ground-mounted capacity segments. The rooftop capacity segment is further bifurcated into Below 10 kWp, 10-20 kWp, 20-30 KWp, 30-100 kWp, 100-500 kWp, and Above 500 kWp. The ground-mounted capacity segment is further bifurcated into Below 750 kWp and Above 750 kWp. The rooftop capacity segment is growing due to government subsidies and high demand from consumers for Solar PV, whereas the ground-mounted segment is driven by government policies and upcoming large-scale solar power generation projects.

“Amongst Technology, the Mono-Crystalline silicon segment held a dominating share of the market in 2021”

Based on technology, the Iran Solar Photovoltaic (PV) Cell market is divided into Thin Film, Multi-Crystalline Silicon, and Mono-Crystalline silicon segments. The Mono-Crystalline silicon segment acquired a majority share in the Solar PV market and is expected to register a substantial growth rate during the forecast period. The shift to more efficient monocrystalline solar PV accelerated in 2021, with the technology capturing almost all crystalline PV production.

“Amongst End User, the Utility-scale segment held a dominating share of the market in 2021”

Based on End User, the Iran Solar Photovoltaic (PV) Cell market is divided into Residential, Commercial & Industrial, and Utility-scale segments. The Utility-scale segment acquired a majority share in the Solar PV market and is expected to showcase a substantial growth rate during the forecast period. Utility-scale PV remains the most competitive source of PV generation; however, building large-scale installations is becoming increasingly challenging in many regions of the world due to the lack of suitable sites. Moreover, Solar PV is the main choice for the private sector if they want to invest in renewable energy. Companies investing in distributed (including rooftop) solar PV installations on their commercial buildings and premises are responsible for around 30% of the total installed PV capacity, moreover, Companies are entering into corporate power purchase agreements with solar PV plant operators which would drive the market for solar PV during the forecast period.

Iran Solar Photovoltaic (PV) Cell Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive provincial level analysis of the industry.

Customization Options:

The Iran Solar Photovoltaic (PV) Cell market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Iran Solar Photovoltaic (PV) Cell Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the Iran Solar Photovoltaic (PV) Cell market were the three major steps undertaken to create and analyze the adoption of Iran Solar Photovoltaic (PV) Cell in major provinces. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Iran Solar Photovoltaic (PV) Cell market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Iran Solar Photovoltaic (PV) Cell market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Iran Solar Photovoltaic (PV) Cell market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major provinces. Major segments are included in the report as Deployment, Capacity, Technology, and End User.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Iran Solar Photovoltaic (PV) Cell market. Further, we conducted factor analysis using dependent and independent variables such as Deployment, Capacity, Technology, and End User of the Iran Solar Photovoltaic (PV) Cell market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Iran Solar Photovoltaic (PV) Cell market sector across the region.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Iran Solar Photovoltaic (PV) Cell market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Iran Solar Photovoltaic (PV) Cell market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Iran Solar Photovoltaic (PV) Cell market in terms of technology offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Iran Solar Photovoltaic (PV) Cell market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of Deployment, Capacity, Technology, and End User in the Iran Solar Photovoltaic (PV) Cell market.

The main objective of the Iran Solar Photovoltaic (PV) Cell Market Study

The current & future market trends of the Iran Solar Photovoltaic (PV) Cell market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Iran Solar Photovoltaic (PV) Cell market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of Deployment, Capacity, Technology, and End User.
• Define and analysis of the regulatory framework for the Iran Solar Photovoltaic (PV) Cell industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Iran Solar Photovoltaic (PV) Cell market for the major regions
• Company profiles of the Iran Solar Photovoltaic (PV) Cell market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive provincial level analysis of the industry

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