According to a recent market study published by Growth Market Reports, titled, "Global solar polysilicon ingot wafer cell module market by types, applications, end-users, and by regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 5,643.1 Million in 2020 and is expected to grow at a healthy growth rate of 10,057.4 million by the year 2028. Crystalline silicon is a semiconductor material generally used for the fabrication of solar cells. Crystalline silicon is highly used in the solar polysilicon ingot wafer cell module market and accounts for 90% of usage in this market. Silicon is the second most abundant element in the earth’s crust and has physical and chemical properties. Silicon is used as a photoactive substrate for photovoltaic (PV) applications, due to technological development in its solidification and purification and advanced solar cell concepts. Polysilicon or polycrystalline silicon is a feedstock, which is used for making the multi-crystalline or mono-crystalline silicon ingot. These ingots are sliced into wafers, fabricated into cells, and manufactured into completed modules. The solar polysilicon ingot wafer cell module market is projected to expand at a rapid pace globally, due to rising demand for solar polysilicon ingot wafer cell modules in various industries such as solar power station, civilian solar small equipment, and others.

Request a free sample copy @ https://growthmarketreports.com/request-sample/2500

Global Solar Polysilicon Ingot Wafer Cell Module Market has been fragmented based on types, applications, end-users, and by regions. In terms of types, the Global Solar Polysilicon Ingot Wafer Cell Module Market is categorized as series connection and parallel connection. On the basis of applications, the solar polysilicon ingot wafer cell module market is segmented into solar power station, civilian solar small equipment, and others. Based on the end-users, the market is divided into residential, commercial, and utility. By countries Global Solar Polysilicon Ingot Wafer Cell Module Market is segmented into North America, Europe, Latin America, and Middle East & Africa.

The effect of COVID-19 pandemic situation has led to the closure of several non-essential businesses reducing the demand for industrial goods in the world, which in turn, is affecting several industries worldwide. The COVID-19 pandemic has badly affected the activities across Solar Polysilicon Ingot Wafer Cell Module related processes in many regions, the demand for Solar Polysilicon Ingot Wafer Cell Module largely declined throughout the pandemic. Due to the COVID-19 pandemic, issues related to supply chain are created in many regions in the solar polysilicon ingot module market.

As per Growth Market Reports industry analyst Rajat Verma, “Growing demand for electricity and environmental concerns are projected to drive the market in the coming years. Increasing adoption of renewable-based clean electricity and government policies for incentives and tax rebates for solar panel installation are estimated to boost the market over the forecast period.”

Key Takeaways from the Study:

  • Rising demand for electricity and increasing concern about the environment are factors which are pressurizing countries for usage of renewable energy. Globally, the key manufacturers of solar photovoltaic products are closely tracking the competitive activities in the market for managing environmental factors effectively. These market players are focusing on increasing their market share.
  • Increasing manufacturing cost of solar polysilicon ingot wafer cell modules is projected to hamper the growth of the market during the forecast period. Raw material used in solar modules is polysilicon. Import of solar cells and polysilicon is increasing the final cost of the product, which is expected to restrict the market growth.
  • On the basis of types, the Global Solar Polysilicon Ingot Wafer Cell Module market is bifurcated into series connection and parallel connection. Over the projected period, the series connection segment is expected to dominate the market. Series connection provides high voltage, which aids the power plant when high voltage is needed. On the basis of applications, the solar polysilicon ingot wafer cell module market is segmented into solar power station, civilian solar small equipment, and others. Based on end-users, the solar polysilicon ingot wafer cell module market is divided into residential, commercial, and utility. Rising adoption of photovoltaic systems for heating applications in residential buildings at low cost is projected to propel the solar polysilicon ingot wafer cell module market during the forecast period.

Report Scope:

Report Metric

Details

Market Value in 2020

USD 5,643.1 Million

Market Growth Rate (from 2022 to 2028)

7.6%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Types, Applications, End-users

Regional Scope

North America, Europe, Latin America, and Middle East & Africa.

Key Companies Profiled

Canadian Solar, JinkoSolar, Shanghai Just Solar Co.,Ltd., JA SOLAR Technology Co.,Ltd., Q CELLS (Hanwha Group), and Others.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Solar polysilicon ingot wafer cell module manufacturers, and suppliers.
  • Demand Side: Building & Construction, Textile, Steel, Chemical, Dairy industry, Cement industry, Paper industry, Ceramic industry, and Others.
  • Associations and Industry Bodies: Solar Energy Industries Association (SEIA), American Council on Renewable Energy (ACORE), Solar Energy International (SEI), International Solar Energy Society (ISES), Smart Electric Power Alliance (SEPA), American Solar Energy Society (ASES), International Renewable Energy Agency (IRENA).