Product 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.
Market Size and Forecast
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 increasing demand for the electricity coupled with the rising demand for the renewable energy sources worldwide is anticipated to increase the market growth of the solar photovoltaic wafer market globally throughout the forecast period. The global solar photovoltaic wafer market can be segmented on the basis of material type and region. On the basis of material type, it is sub-segmented into monocrystalline wafer and multicrystalline wafer. Multicrystalline wafer is anticipated to be the fastest growing sub-segment on the account of increasing usage in producing high quantity of electricity. Additionally, the increasing demand for the electricity across the globe is another factor for the rising demand for the multicrystalline solar wafer during the forecast period.
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 on the account of availability of highly developed technology to produce electricity and energy. Europe is anticipated to follow North America in terms of energy generation. The rapid industrialization in the region is increasing the demand for the clean energy methods for energy generation. Asia-Pacific is anticipated to be the fastest developing region for the global solar photovoltaic wafer market over the forecast period. This is attributed to the fact of high presence of companies offering the solar photovoltaic wafer in the region.
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), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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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.
Top Featured Companies Dominating The Market
- Renewable Energy Corporation (REC)
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- 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 Solar
