Solar Photovoltaic Wafer Market to Perceive Substantial Growth During 2017- 2027
Global solar photovoltaic wafer market: Market Dynamics
The global solar photovoltaic wafer market is being driven by the increasing usage of solar power in various applications like electric vehicles, etc. The demand for highly efficient solar photovoltaic wafers needed to recharge electric vehicle battery can prove to be a major factor responsible for the growth of the global solar photovoltaic wafer market. Moreover, technological developments taking place in the electrical and electronics sector have led to an increase in demand for solar based energy.
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Another important factor driving the global solar photovoltaic wafer market are the numerous advantages offered by solar photovoltaic wafers. For instance, solar photovoltaic wafers offer better durability and longevity. The solar photovoltaic wafers are also more efficient in comparison to the other alternatives available in the market. All of these factors, combined together, will continue to affect the market positively during the forecast period.
Global solar photovoltaic wafer: Market Restraints
Solar photovoltaic wafer based photovoltaic panels are costlier than thin film photovoltaic panels. This factor, in particular, might restrain the growth of the market in near future.
Global solar photovoltaic wafer: Market Trends
These days, manufacturers are focusing on decreasing the overall thickness of the wafer used in solar cell manufacturing. Using thinner wafers would reduce the overall cost of the raw material used as manufacturers will be able to cut higher number of wafers from a single brick. The major focus of manufacturers is reducing the production cost, which they are trying to achieve by reducing waste production during polysilicon crystallization, recycling saw dust and improving material handling during the production process.
Global solar photovoltaic wafer: Market Segmentation
The global solar photovoltaic wafer market can be segmented on the basis of material type and region
On the basis of material type, the global solar photovoltaic wafer market can be segmented into the following categories:
Multicrystalline wafer/Polycrystalline wafer
Global solar photovoltaic wafer: Market Regional Outlook
The global market for solar photovoltaic wafers is being dominated by the Asia Pacific region. China is the largest manufacturer of solar photovoltaic wafers. A number of big manufacturers across the value chain of the global photovoltaic wafer market are essentially China-based players. It is most likely that North America, Europe and Japan will continue to hold a significant share in the global solar photovoltaic wafer market over the forecast period. Middle East and Africa is expected to show steady growth over the forecast period. The overall global solar photovoltaic wafer market is projected to expand at a moderate CAGR over the forecast period.
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Global solar photovoltaic wafer: Market Participants
Some of the market participants identified across the value chain of the global solar photovoltaic wafer market are:
Targray Technology International Inc, Lanco Solar, , LDK Solar, Renewable Energy Corporation (REC), Solarworld, MEMC Electronic Materials, Inc. and Nexolon Co., Ltd.
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