Press release
TOPCon Solar Cell Market Latest Trends and Future Aspect Analysis
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global TOPCon Solar Cell Market- (By Type (N Type, P Type), By Application (PV Power Station, Commercial, Others), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global TOPCon Solar Cell Market is valued at US$ 7.31 Bn in 2022, and it is expected to reach US$ 33.61 Bn by 2031, with a CAGR of 18.7% during a forecast period of 2023-2031.
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TOPCon solar cells passivate the silicon wafer's surface with a thin tunnel oxide layer to stop the recombination of charge carriers (holes and electrons). The excited charge carriers' energy loss during recombination decreases the solar cell's overall efficiency. The solar industry's research and development initiatives continuously fuel technological improvements. As TOPCon technology develops, producers are looking for ways to streamline production procedures and boost the effectiveness and performance of TOPCon solar cells. The potential for increased conversion efficiencies of TOPCon solar cells was one of the key market drivers. Since TOPCon cells have higher efficiency than other solar technologies, more power may be produced from the same direct sunlight, making them a desirable option for utility-scale and rooftop solar systems. To advance TOPCon technology and achieve economies of scale in production, cooperation between research institutions, manufacturers, and industry partners is essential.
List of Prominent Players in the TOPCon Solar Cell Market:
• Wuxi Suntech Power Co., Ltd.
• RENA Technologies GmbH
• Trina Solar Co., Ltd.
• JA SOLAR Technology Co., Ltd.
• LONGi
• AESOLAR
• CARBON
• Jolywood
• HELIENE Inc.
• Solar4America
• Exiom Solution SA
• REC Solar Holdings AS
• Boviet Solar
• Hanwha QCells
• Websol Energy System Limited
• Sharp Energy Solutions Corporation
• LUXOR SOLAR
• FuturaSun srl
• Canadian Solar
• SoliTek
Market Dynamics:
Drivers-
One of their main growth drivers is the potential for TOPCon solar cells to outperform more established solar cell technologies in terms of conversion efficiencies. As more power can be produced from the same quantity of sunshine thanks to higher efficiency, TOPCon cells are appealing for domestic and utility-scale solar projects. Adopting cutting-edge solar cell technologies like TOPCon cells is fueled by a global movement towards renewable energy sources and a rise in the demand for highly efficient solar panels.
Challenges:
Compared to conventional solar cells, TOPCon solar cells require a more involved manufacturing procedure. Adding the tunnel oxide layer and other passivation features necessitates specialized tools and knowledge, which could raise production costs. Additionally, while TOPCon solar cells are a relatively new technology, they have yet to be widely adopted by the market. It might be difficult to win over investors and project developers while establishing market trust.
Regional Trends:
The Asia Pacific TOPCon Solar Cell Market is likely to register a major market share in revenue and is projected to grow at a high CAGR soon. The area has attracted large investments in infrastructure and solar energy projects. Investments in R&D and manufacturing capabilities can accelerate the deployment of cutting-edge solar cell technologies like TOPCon cells. The North America region has seen rapid population and economic growth, raising the energy need. The region's energy requirements may be well matched by high-efficiency solar cells like TOPCon cells, which can produce more electric power from a smaller space.
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Recent Developments:
• In May 2023, Longi introduces a 590 W TOPCon solar panel with a 22.8% efficiency. According to the manufacturer, the new device is based on high-performance hybrid passivity (HPDC) dual junction technology, M10 wafers, and tunnel oxide passivated contact (TOPCon) cells.
• In December 2022, Trina Solar introduced a new series of solar modules based on n-type tunnel oxide passivated contact (TOPCon) technology at the Madrid, Spain trade exhibit Genera.The company offered two varieties of the panel: a monofacial module with a white backsheet and a bifacial product with a transparent backsheet.
Segmentation of TOPCon Solar Cell Market-
By Type-
• N Type
• P Type
By Application-
• PV Power Station
• Commercial
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses.
We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products.
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