Global TOPCon Solar Cell Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global TOPCon Solar Cell Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

In 2013, The Fraunhofer Solar Energy Institute in Germany created TOPCon cell technology, which is a revolutionary passivated contact solar cell. TOPCon is an abbreviation for Tunnel Oxide Passivated Contact. TOPCon consists of an ultra-thin tunnel oxide and a phosphorus-doped silicon layer.

TOPCon cell uses a micro-nano tunnelling oxide layer, a carrier-selective microcrystalline silicon film laminated functional structure on the back, and cutting-edge and high-efficiency passivation contact technology. This novel structure exhibits a two-way enhancement in passivation performance and electrical conductivity, resulting in significant cell conversion efficiency and power output gains. The tunnel oxide layer's structure further minimises subsurface recombination, considerably improving cell conversion efficiency.

Market Overview:

The latest research study on the global TOPCon Solar Cell market finds that the global TOPCon Solar Cell market reached a value of USD 9008.85 million in 2022. It’s expected that the market will achieve USD 30427.99 million by 2028, exhibiting a CAGR of 22.49% during the forecast period.

Market Drivers and Impact

Market demand growth in Asia-Pacific region The Asian Development Bank released its forecast on December 14th, 2021, saying that the GDP growth rate of Asian emerging market countries will be 5.3% in 2022.

Sustained economic growth and improvement of living standards in Asia will make its member countries become major energy consumers in the foreseeable future. A study by BP (British Petroleum Company) shows that by 2040, Asia, including China and India, will account for 43% of global energy demand and at the same time account for more than 50% of energy demand growth. In contrast, the energy demand of 36 countries of the Organization for Economic Cooperation and Development (OECD) (including most large economies in America and Europe) will be the same as the current situation. Among the top 10 countries with installed PV in 2019, there are 6 Asia-Pacific countries (China, India, Japan, Vietnam, Australia and South Korea).

China has become one of the most important suppliers of non-fossil fuel-based energy and technology. As the world's largest industrial chain cluster of solar power generation and the largest exporter of products, China has a rich application market, a good investment environment and the largest number of invention and application patents. China's solar cell industry has a complete industrial chain system from the production of high-purity crystalline silicon in the upstream to the efficient production of solar cells in the middle reaches to the construction and application of solar photovoltaic power plants in the downstream.

The relatively low labor cost in Asia, the improvement of industrialization level and the development of regional economic cooperation are some main factors supporting the growth of this industry in this region. China, India, and other emerging economies in Asia, with the improvement of economic level and the development of potential downstream markets, have driven the growth of TOPCon Solar Cell market.

In December 2019, the European Commission announced the European Green Agreement to tackle climate change and promote sustainable development, and to promote the green development of the European Union. The agreement proposes that by 2050, Europe will become the first carbon neutral region in the world, that is, the net carbon dioxide emissions will be reduced to zero. At the industrial policy level, the EU focuses on clean energy, circular economy, digital technology and so on. In 2019, the installed solar energy in the EU increased by more than 100%. Europe has always been a leader in household PV. In 2015, the French Parliament passed a new environmental law, which stipulated that the roofs of new buildings in the French business district must be covered by green plants or solar cells.

On October 19th, 2021, the U.S. Department of Energy (DOE) announced that it would support the next generation of advanced solar power technology research with 40 million U.S. dollars, aiming at integrating the research forces of universities and enterprises to jointly tackle key problems, achieving breakthroughs in research and development of solar power technology and supporting energy storage technology, further improving the efficiency of solar power generation and the service life of solar power facilities, reducing the cost of solar power, expanding the installed capacity of solar power, and helping to achieve the goal of 100% clean power in the United States in 2035.

The policy support of the United States and the European Union for solar energy industry will promote the development and popularization of solar cell technology and the growth of the TOPCon Solar Cell market.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Jinko Solar is one of the major players operating in the TOPCon Solar Cell market, holding a share of 27.64% in 2022.

Jinko Solar Co., Ltd. is one of the most famous and innovative solar technology companies in the world. Its business covers the core links of the photovoltaic industry chain, focusing on the R&D of integrated photovoltaic products and integrated clean energy solutions. At present, Jinko Solar's products serve more than 3,000 customers in more than 160 countries around the world, and the company has ranked No.1 in global module shipments from 2016 to 2019. By the end of March 2022, the cumulative module shipments of Jinko Solar have exceeded 100GW. Jinko Solar is an industry opinion leader under various international frameworks such as B20, and it is also the first solar energy company to join the RE100 green initiative.

Jinko Solar is the first company to establish a vertically integrated production capacity from silicon material processing to wafer, cell and module production in the industry.

LONGi Green Energy offers services such as technical consultation, after-sales services, and contract energy management services. The company serves commercial, residential, utility-scale solar power plants, and other manufacturing industries.

Segmentation Overview:

By type, N Type segment accounted for the largest share of market in 2021.

Application Overview:

By application, the PV Power Station segment occupied the biggest share from 2017 to 2022.

Key Companies in the global TOPCon Solar Cell market covered in Chapter 3:

Jinko Solar
Trina Solar
Jolywood
LONGi
JA Solar Technology Co

In Chapter 4 and Chapter 14.2, on the basis of types, the TOPCon Solar Cell market from 2018 to 2029 is primarily split into:

N Type
P Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the TOPCon Solar Cell market from 2018 to 2029 covers:

PV Power Station
Commercial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)