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Solar Photovoltaic Wafer Market

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Overview

The solar photovoltaic cells are devices used to convert electrical energy into light energy by the photovoltaic effect. The solar photovoltaic wafer is primarily used to create photovoltaic cells. These wafers are made of crystalline silicon cells. The wafer is exposed to high temperature and contains phosphorous oxychloride. The wafer at the top of the solar cells is coated with anti-reflective coatings made of silicon nitride which is used to increase the light absorption capacity by decreasing the reflection. The solar photovoltaic wafer offers durability in comparison to other substitutes accessible in the market.[1]

"Around 90 % of solar cells manufactured today are based on crystalline silicon. The efficiency, price-to-performance ratio, long-term stability and potential for further cost reduction indicate that this peak performer in terrestrial PVwill continue to dominate the market in the future. At Fraunhofer ISE we cover the entire value chain of crystalline silicon photovoltaics: from material research through to quality assurance for modules and power plants."[2]

Market Overview

The global solar photovoltaic wafer market is anticipated to expand at a significant CAGR during 2018-2027. It is projected to reach significant market size by 2027. The growing demand for the electrical energy in the various countries coupled with the increasing demand for the renewable energy sources globally is expected to upsurge the demand for the solar photovoltaic wafer market. The technological development in the electronic sector leads to the development of the more efficient technology which saves the energy.

By region, global solar photovoltaic wafer market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is expected to lead the global solar photovoltaic wafer market. The rising demand for the renewable energy source in the region is a major factor anticipated to upsurge the demand for the solar photovoltaic wafer. The presence of leading manufacturers in the region is focusing on developing energy efficient devices. Asia-Pacific is anticipated to be the fastest developing region for the global solar photovoltaic wafer market during the forecast period. The increasing population coupled with rapid industrialization is anticipated to increase the demand for solar photovoltaic wafer. The key players in the region are focusing on developing eco-friendly devices which has least impact on the nature.[3]

Increasing demand for the renewable energy sources across the globe is anticipated to boost the global solar photovoltaic wafer market

The key players across the globe are focusing on developing devices which are environment friendly and have least impact on the environment. Thus, the advent of solar cells has decreased the level of pollution in the environment. The various developing countries such as China and India are witnessing rapid industrialization. Thus, the key industries are focusing on the use of environment friendly devices which has least impact on the nature. Additionally, the gradual climatic changes are forcing the government to take initiatives towards the reduction of the pollution in the environment and they are promoting the use of environment friendly products.

The report titled “Solar Photovoltaic Wafer Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global solar photovoltaic wafer market in terms of market segmentation by material type and by region.[3]

Market Segmentation

Our in-depth analysis segmented the global solar photovoltaic wafer market in the following segments:

By Material Type:

  • Monocrystalline wafer
  • Multicrystalline wafer

By Region

Global solar photovoltaic wafer market is further classified on the basis of region as follows:

  • North America (United States, Canada)
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific)
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)[4]


Growth Drivers and Challenges

The rising demand for the renewable energy across the globe is anticipated to be the major growth driver for the global solar photovoltaic wafer market over the forecast period. The increasing demand for the energy on the account of rising population and increasing industrialization is anticipated to boost the global solar photovoltaic wafer market. The rising demand for the solar photovoltaic wafer to recharge the electric vehicle is also driving the solar photovoltaic wafer market globally. The various government regulations regarding the use of the fossil fuel are anticipated to support the market growth of the solar photovoltaic wafer. The government is taking initiative such as increasing the capacity of solar power plants across the globe. This indirectly upsurge the demand for the solar photovoltaic wafer. Additionally, increasing demand for solar based energy on the account of technological development in the electronic sector is also driving the solar photovoltaic wafer market across the globe.

However, the high cost associated with the solar photovoltaic wafer in comparison to other photovoltaic wafer is anticipated to be a major restraint for the global solar photovoltaic wafer market.[3]

Key Players

  • Renewable Energy Corporation (REC) Company Targray Technology International Inc Lanco Solar LDK Solar MEMC Electronic Materials, Inc. Solarworld, Nexolon Co., Ltd. Green Energy Technology Sino-American Silicon Products Inc. (SAS) GCL-Poly Energy Holdings Limited Zhonghuan Semiconductor Corporation Renesola Comtec

Further Information

References