Solar Ingot Wafer Market: Current Analysis and Forecast (2021-2027)

Solar Ingot Wafer Market: Current Analysis and Forecast (2021-2027)

Global solar ingot wafer market is expected to grow at a CAGR of around 12% during the forecasted period (2021-2027). Factors such as increase in population and urbanization across the globe has led to the rise in demand for electricity. Moreover, the growth is driven by growing popularity of producing energy from renewable sources and increase in capacity and production of solar cells in the solar energy industry.

The coronavirus pandemic declared as public health emergency worldwide By World Health Organization (WHO). Government across nations implemented lockdown and ban on travelling, shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain. The energy consumption was severely disrupted across the countries due to the closure of industrial and commercial sector.

COVID-19 had an impact on the power sector, particularly by leading to a reduction of demand, financial stress, and disruptions to the power supply chain which in turn had adversely impacted the solar ingot wafer market as well. The market is negatively impacted by the economic downturn in many countries. For instance, in Europe, the government has cut down the budget for solar projects owing to economic failure.

CETC Solar Energy Holdings Co. Ltd., Targray, LONGI Solar, DCH Group, SN Materials, EPC Group, Saiwei LDK Solar High-Tech Co. Ltd., Maharishi Solar Technology (P) Ltd., SUOZ Energy Group, Comtec Solar Systems Group Limited.. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst product, monocrystalline segment holds the major share”

Based on product, the solar ingot wafer market is segmented into monocrystalline and polycrystalline. The monocrystalline segment catered significant demand in solar ingot wafer market as monocrystalline solar panels have black-colored solar cells made of a single silicon crystal, and they usually have a higher efficiency

“Amongst application, mono- solar cell segment holds the major share”

Based on application, the solar ingot wafer market is classified into mono solar cell and multi solar cell. The mono solar cell segment holds the considerable market share. As mono solar cells are made from a single crystal of silicon, electrons can flow easier through the cell, making the PV cell efficiency higher than other solar panels.

“Asia Pacific represents one of the largest markets of Global Solar ingot wafer Market”

For a better understanding of the market dynamics of the global Solar ingot wafer market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific holds the largest market share predominantly due to increase in energy demand, and rising preferences towards renewable power sources. Also, China is one of the leading producers of solar ingots wafers and is likely to dominate the market due to its low manufacturing cost, large number of players, and large number of manufacturing plants of solar cells.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.