Solar Silicon Wafer Market By 2027: Overall Growth, Major Industry Leaders & Future Insights
The research report on solar silicon wafer market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the market.
The solar silicon wafer market is anticipated to record expansive growth as to intensifying government concerns on tackling the negative impacts of greenhouse gas emissions. Regulations imposed by various governments organizations worldwide to lower global carbon footprint have instigated the adoption of renewable energy infrastructure, majorly solar energy, for electricity generation and energy conversion.
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Industry share of monocrystalline solar silicon wafers will reach a substantial remuneration in the coming years owing to their sleeker aesthetics. These silicon wafers provide excellent energy conversion efficiencies that range from 15 to 21%, which is found to be greater in comparison to their polycrystalline wafer counterpart.
Speaking of which, leading industry players are coming up with new product developments. A Chinese company, Tianjin Zhonghuan Semiconductor Co., Ltd., launched a new 12-inch wire-cut and large diamond-shaped solar monocrystalline silicon large wafer product in August 2019.
The solar silicon wafer market value from inverter applications could observe a CAGR of 8.5% through 2027. This can be owed to the increasing usage of solar power across the residential & commercial sectors worldwide. Large solar silicon wafers, around 210 mm in size, are widely utilized to attain high technological as well as environmental advantages and high-power output of over 600 W.
For instance, Tesla, Inc., in January 2021, developed two solar invertors that operate on 3.8 kW and 7.6 kW capacity for uses in residential solar appliances. These devices are configured with two or four maximum power point trackers (MPPTs) and offer an energy conversion efficiency rate of 97.5%.
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The North America solar silicon wafer market is anticipated to clock a CAGR of 9% by 2027 owing to rising solar power plants being established in the U.S. According to Solar Energy Industries Association, U.S. solar energy producers installed 3.8 GW of solar capacity in the third quarter of 2020. With this, the total installed capacity in the U.S. reached around 88.9 GW in the third quarter of 2020. In line with this, regional manufacturers are focusing on securing funding, investment, as well as are commencing expansion activities. For instance, Leading Edge Equipment Technologies, a single-crystal silicon wafer manufacturer, announced securing USD 7.6 million funding in a Series-A financing round.
Some other key players functioning in the global solar silicon wafer market include JinkoSolar Holding Co., Ltd., Huantai Group, LONGi Green Energy Technology Co., Ltd., Jiangxi LDK Solar High-Tech Co., Ltd. GCL-Poly Energy Holdings Limited, Solargiga Energy Holdings Limited, and CETC Solar Energy Holdings Co., Ltd., among others. These companies are focusing on investing in R&D activities and developing innovative products for maintaining a competitive edge in the market.
Major Key Points from Table of Content:
Chapter 5 Solar Silicon Wafer Market, By Type
5.1 Key trends by type
5.2 Monocrystalline wafer
5.2.1 Market estimates and forecasts, 2016 – 2027
5.3 Polycrystalline wafer
5.3.1 Market estimates and forecasts, 2016 – 2027
Chapter 6 Solar Silicon Wafer Market, By Application
6.1 Key trends by application
6.2 PV modules
6.2.1 Market estimates and forecasts, 2016 – 2027
6.3 Inverter
6.3.1 Market estimates and forecasts, 2016 – 2027
6.4 Solar cell
6.4.1 Market estimates and forecasts, 2016 – 2027
6.5 Solar racking systems
6.5.1 Market estimates and forecasts, 2016 – 2027
6.6 Solar battery
6.6.1 Market estimates and forecasts, 2016 – 2027
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