Solar Photovoltaics Wafer Market – Industry Analysis and Forecast (2022-2027) by Product and Region

Solar Photovoltaics Wafer Market was valued at USD 10.55 Billion in 2021 and is predicted to grow at a CAGR of 11 % to USD 19.73 Billion by 2027.

Solar Photovoltaics Wafer Market Overview:

Solar Photovoltaics Wafer Market was valued at USD 10.55 Billion in 2021 and is predicted to grow at a CAGR of 11 % to USD 19.73 Billion by 2027. The Solar Photovoltaics Wafer Market is studied by segments like Product (Monocrystalline wafer, Multicrystalline wafer) and Region (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The report consists of the Trend, forecasts, Competitive Analysis, and Growth Opportunities of the market. Solar photovoltaic cells are devices that employ the photovoltaic effect to convert electrical energy into light energy. Photovoltaic cells are made mainly from Solar Photovoltaics Wafers. Phosphorous oxychloride is present on the wafer, subjected to high temperatures. Anti-reflective coatings consisting of silicon nitride are applied to the wafer at the top of the solar cells to boost light absorption capacity by reducing reflection. Compared to other alternativese available in the market, the Solar Photovoltaics Wafer is more durable. Solar Photovoltaics Wafer market To know about the Research Methodology:-Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2027. 2021's market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027.2020 is a year of exception and analysis, especially with the impact of lockdown by region.

Solar Photovoltaics Wafer Market Dynamics:

The global Solar Photovoltaics Wafer market demand is rising across various industries. The rise in demand for automated rigging systems has fueled the market's growth in the last five years. Over the forecasted period 2022-2027, the growing global demand for renewable energy is expected to be the primary growth driver for the global Solar Photovoltaics Wafer market. The worldwide Solar Photovoltaics Wafer market is expected to grow due to rising energy demand caused by expanding population and increasing industrialization. Global Solar Photovoltaics Wafer market is also being driven by increased demand for Solar Photovoltaics Wafers to recharge electric vehicles. Government all over the world is taking steps to expand the capacity of solar power facilities, and the market is expected to develop in response to different government laws governing the usage of fossil fuels. This increases the demand for solar photovoltaics indirectly. The need for highly efficient Solar Photovoltaics Wafers to recharge electric car batteries might be a significant element driving the worldwide Solar Photovoltaics Wafer market. Furthermore, technical advancements in the electrical and electronics industries have increased the demand for solar-based energy. The multiple advantages provided by Solar Photovoltaics Wafers are another major element driving the global Solar Photovoltaics Wafer market. Solar Photovoltaics Wafers are more durable and long-lasting. The high cost of solar photovoltaic wafers in comparison to other photovoltaic wafers is expected to be a key limitation on the worldwide market for solar photovoltaic wafers market in the forecast period 2022-2027. Solar Photovoltaics Wafer Market: Effect of COVID-19 The COVID-19 pandemic has ceased production of various products in the Solar Photovoltaics Wafer market, primarily due to an ongoing blockade in major countries worldwide. The COVID-19 epidemic has wreaked havoc on the global supply chain for polysilicon raw materials used in solar wafer manufacture, reducing income from the solar silicon wafer business. Therefore, there has been a decrease in the growth and demand of the Solar Photovoltaics Wafer market in the past two years. However, it is expected to rise in the forecast period, considering the decrease in COVID-19 cases and the worldwide scenario getting back to normal.

Solar Photovoltaics Wafer Market Segment Analysis:

On the basis of Product, the Solar Photovoltaics Wafer market is segmented into the monocrystalline wafer and multicrystalline wafer. The monocrystalline wafer sector of the solar silicon wafer market was valued at USD 8 billion in 2020 and is expected to expand at a pace of roughly 13% per year through 2027 because of various intuitive qualities such as sleeker aesthetics, greater performance, and improved energy conversion efficiency. Furthermore, monocrystalline solar silicon wafer producers are aggressively growing their manufacturing capabilities and entering into long-term strategic contracts in order to gain a competitive advantage in the market. Due to its use in creating large amounts of power, Multicrystalline wafer is expected to be the fastest expanding sub-segment. Moreover, the rising need for power throughout the world is another reason driving up demand for multicrystalline solar wafers over the predicted period. The monocrystalline wafer sector holds a more significant market share in the Solar Photovoltaics Wafer market.

Solar Photovoltaics Wafer Market Regional Insights:

North America dominates the Solar Photovoltaics Wafer market. The rising demand for renewable energy sources in the region is a major factor anticipated to upsurge the demand for the Solar Photovoltaics Wafer. The presence of leading manufacturers in the region focuses on developing energy-efficient devices. Asia-Pacific is anticipated to be the fastest developing region for the global Solar Photovoltaics Wafer market during the forecast period. The increasing population coupled with rapid industrialization is expected to increase the demand for the Solar Photovoltaics Wafer. The key players in the region are focusing on developing eco-friendly devices, which have the most negligible impact on nature. The greatest producer of Solar Photovoltaics Wafers in China. Across the entire chain of the global solar wafer market, several significant manufacturers are situated in China. The Middle East and Africa are expected to show steady growth over the forecast period. The objective of the report is to present a comprehensive analysis of the Solar Photovoltaics Wafer market to the stakeholders in the industry. The past and current status and trends related to the industry with the forecasted market size and trends are presented in the report with the analysis of complex data in simple and easy language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External and internal factors that are supposed to affect the business positively or negatively have been analyzed, which is anticipated to give a clear, futuristic view of the industry to the decision-makers. The report also helps understand the Solar Photovoltaics Wafer market dynamics and structure by analyzing the market segments and projecting the Solar Photovoltaics Wafer market size. Explicit representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Solar Photovoltaics Wafer market make the report investor’s guide.

Solar Photovoltaics Wafer Market Scope: Inquire before buying

Global Solar Photovoltaics Wafer Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 10.55 Bn.
Forecast Period 2022 to 2027 CAGR: 11 % Market Size in 2027: US $ 19.73 Bn.
Segments Covered: by Product • Monocrystalline wafer • Multicrystalline wafer

Solar Photovoltaics Wafer Market, by region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Solar Photovoltaics Wafer Market Key Players

• Targray Technology International Inc (Canada) • Lanco Solar (India) • LDK Solar (China) • MEMC Electronic Materials, Inc. (United States) • Solarworld (Germany) • Nexolon Co., Ltd. (South Korea) • Green Energy Technology (China) • Sino-American Silicon Products Inc. (SAS) (United States) • GCL-Poly Energy Holdings Limited (Hong Kong) • Zhonghuan Semiconductor Corporation (China) • Renesola (United States) • Comtec Solar (China) • Renewable energy corporation (Singapore) Frequently Asked Questions: 1. What forecast period is considered for the Solar Photovoltaics Wafer market report? Ans. The forecast period for the Solar Photovoltaics Wafer market is 2022-2027. 2. What are the market restraints for the Solar Photovoltaics Wafer market? Ans. Solar Photovoltaics Wafer-based photovoltaic panels are costlier than thin-film photovoltaic panels. This factor, in particular, might restrain the market's growth in the near future. 3. What is the Solar Photovoltaics Wafer market's compound annual growth rate (CAGR) for the forecast period? Ans. The CAGR of the Solar Photovoltaics Wafer market for the forecast period 2022-2027 is 11 %. 4. What are the key factors driving the growth of the Solar Photovoltaics Wafer market? Ans. The worldwide Solar Photovoltaics Wafer market is expected to grow in response to rising energy demand caused by expanding population, industrialization, and increased demand for Solar Photovoltaics Wafers to recharge electric vehicles. 5. What major key players are covered in the Solar Photovoltaics Wafer market report? Ans. The major worldwide critical players in the Solar Photovoltaics Wafer market are Lanco Solar, Renewable Energy Corporation, and Sino-American Silicon Products Inc. (SAS).
1. Solar Photovoltaics Wafer Market: Research Methodology 2. Solar Photovoltaics Wafer Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Solar Photovoltaics Wafer Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Solar Photovoltaics Wafer Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Solar Photovoltaics Wafer Market Segmentation 4.1. Solar Photovoltaics Wafer Market, by Product (2021-2027) • Monocrystalline wafer • Multicrystalline wafer 5. North America Solar Photovoltaics Wafer Market (2021-2027) 5.1. North America Solar Photovoltaics Wafer Market, by Product (2021-2027) • Monocrystalline wafer • Multicrystalline wafer 5.2. North America Solar Photovoltaics Wafer Market, by Country (2021-2027) • US • Canada • Mexico 6. European Solar Photovoltaics Wafer Market (2021-2027) 6.1. European Solar Photovoltaics Wafer Market, by Product (2021-2027) 6.2. European Solar Photovoltaics Wafer Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Solar Photovoltaics Wafer Market (2021-2027) 7.1. Asia Pacific Solar Photovoltaics Wafer Market, by Product (2021-2027) 7.2. Asia Pacific Solar Photovoltaics Wafer Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Solar Photovoltaics Wafer Market (2021-2027) 8.1. Middle East and Africa Solar Photovoltaics Wafer Market, by Product (2021-2027) 8.2. Middle East and Africa Solar Photovoltaics Wafer Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Solar Photovoltaics Wafer Market (2021-2027) 9.1. South America Solar Photovoltaics Wafer Market, by Product (2021-2027) 9.2. South America Solar Photovoltaics Wafer Market, by Country (2021-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Renewable energy corporation (Singapore)Overview 10.1.1. Financial Overview 10.1.2. Presence 10.1.3. Capacity Portfolio 10.1.4. Business Strategy 10.1.5. Recent Developments 10.2. Targray Technology International Inc (Canada) 10.3. Lanco Solar (India) 10.4. LDK Solar (China) 10.5. MEMC Electronic Materials, Inc. (United States) 10.6. Solarworld (Germany) 10.7. Nexolon Co., Ltd. (South Korea) 10.8. Green Energy Technology (China) 10.9. Sino-American Silicon Products Inc. (SAS) (United States) 10.10. GCL-Poly Energy Holdings Limited (Hong Kong) 10.11. Zhonghuan Semiconductor Corporation (China) 10.12. Renesola (United States) 10.13. Comtec Solar (China)

About This Report

Report ID 148033
Category Energy & Power
Published Date May 2022
Updated Date
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