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Solar Polysilicon Ingot Wafer Cell Module Market Size [2030]

Solar Polysilicon Ingot Wafer Cell Module Market

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Segments - by Product Types (Series Connection, Parallel Connection), Applications (Solar Power Stations, Civilian Solar Small Equipment, and Others) End-users (Residential, Commercial, and Utility), and by Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

EP-2500
4.6 Rating
195 Pages

19-09-2021
81 Reviews

Author:

Aamir Ansari

Fact-checked by:

Vineet Pandey

Editor:

Swapnil Hedau

Report Description

Solar Polysilicon Ingot Wafer Cell Module Market Outlook

The Solar Polysilicon Ingot Wafer Cell Module market was valued at USD 5,643.1 Million in 2020 and is projected to reach USD 10,057.4 Million by 2028, expanding at a CAGR of 7.6% during the forecast period. 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.

Solar polysilicon ingot wafer cell modules are expected to be popular among end-users during the forecast period. Rising demand for solar polysilicon ingot wafer cell modules is attributed to technological improvements and growing use of modern equipment in several industries across the globe. Growing demand for electricity and environmental concerns are projected to drive the market in the coming years.

Solar Polysilicon Ingot Wafer Cell Module Market Dynamics

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.

For the formation of ingots, initially polysilicon is processed in crystallization furnaces, which are developed for this purpose. Silicon rods are mashed and melted in a quartz crucible. This melt is allowed to cool slowly, resulting into formation of silicon blocks. Diamond wire saws cut the ingots in multiple equal-sized cuboids, known as bricks. These bricks are sliced into wafer-thin silicon plates.

The wafers are tested and cleaned for saw damage. After this process, chemical cleaning is performed and texturing process is undertaken for roughening the surface. This rough surface helps to increase light coupling in the solar cell. Wafers are exposed into diffusion furnace gas containing phosphor. This doping increases the absorption of sunlight by wafers.

Solar Polysilicon Ingot Wafer Cell Module Market Segmental Outlook

By Product Types Segment

On the basis of product types, the Solar Polysilicon Ingot Wafer Cell Module market is segmented into series connection and parallel connection. The parallel connection segment is projected to hold the largest market share during the forecast period, as it is largely used in applications where high current is needed.

The parallel connection segment is expected to expand at a significant CAGR, as it is widely used in applications where high current is required. Parallel connection of solar modules offers high current by keeping the same voltage. The series connection segment is projected to increase at a rapid CAGR, as series connection provides high efficiency for photovoltaic systems and also provide the required operating window for the inverter to work properly.

By Applications Segment

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. The solar power station segment is expected to dominate the market during the forecast period, due to its several advantages such as use of solar cells, which do not make noise, cause zero pollution, and are a renewable source of energy.

Solar power stations require low maintenance and offers high return on investment, as huge amount of free energy is generated. These factors are projected to propel the segment in the coming years. Over the forecast period, the demand for civilian solar small equipment is expected to increase, due to various benefits offered by the equipment. Civilian solar small equipment includes solar air conditioning, solar charger, solar cooker, solar heater, solar chimney, solar lamp, and others.

By End-users Segment

Based on end-users, the solar polysilicon ingot wafer cell module market is divided into residential, commercial, and utility. The utility segment is estimated to hold a significant market share in the coming years, owing to the enhanced efficiency of solar PV modules and less capital costs. The segment is anticipated to grow over the forecast period, due to the employment of solar polysilicon ingot wafer cell modules in electricity generation.

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. Increasing development of innovative systems, which offer energy storage solutions for fulfilling the requirement of power generation, by market players is expected to propel the commercial segment.

Regional Outlook

On the basis of regions, the Solar Polysilicon Ingot Wafer Cell Module market is segmented into North America, Europe, Latin America, and Middle East & Africa. Asia Pacific accounted for a significant share of the market in 2020, also the market in Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period. The Solar Polysilicon Ingot Wafer Cell Module market is growing in North America, owing to increasing R&D investments in innovations for Solar Polysilicon Ingot Wafer Cell Module.

China accounts for significant a market share, due to increasing demand from industrial equipment and Solar Power Station applications, which in turn, drives the market in Asia Pacific. The market growth in China is attributed to the strong presence of polysilicon manufacturers, a significant number of active patents owned by numerous companies, and leading position of China in solar PV manufacturing.

Key Benefits for Industry Participants & Stakeholders

In-depth Analysis of the Solar Polysilicon Ingot Wafer Cell Module.
Historical, Current and Projected Market Size in terms of Value.
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Solar Polysilicon Ingot Wafer Cell Module market performance

Segments

By Product Types

Serial Connection
Parallel Connection

By Applications

Solar Power Station
Civilian Solar Small Equipment
Others

By End-users

Residential
Commercial
Utility

By Regions

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Market Players Profiled in the Report

Canadian Solar
JinkoSolar
Shanghai Just Solar Co.,Ltd.
JA SOLAR Technology Co.,Ltd.
Q CELLS (Hanwha Group)
Amerisolar
FuturaSun
Jakson Group
LDK Solar Technology Group
Ningbo Polycrown Solar Tech Co, Ltd.
Novergy Energy Solutions Pvt. Ltd.
Yuhuan Sunpro Power Co.,Ltd.

Competitive Landscape

Key players in the market include Amerisolar, Canadian Solar, FuturaSun, Jakson Group, JA SOLAR Technology Co.,Ltd., JinkoSolar, Novergy Energy Solutions Pvt. Ltd., Ningbo Polycrown Solar Tech Co, Ltd., Q CELLS (Hanwha Group), Shanghai Just Solar Co.,Ltd., and others. These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.
The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to increase their demand for industrial electric heating element.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solar Polysilicon Ingot Wafer Cell Module Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Solar Polysilicon Ingot Wafer Cell Module Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Solar Polysilicon Ingot Wafer Cell Module Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Solar Polysilicon Ingot Wafer Cell Module Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Solar Polysilicon Ingot Wafer Cell Module Market Size & Forecast, 2018-2028
      4.5.1 Solar Polysilicon Ingot Wafer Cell Module Market Size and Y-o-Y Growth
      4.5.2 Solar Polysilicon Ingot Wafer Cell Module Market Absolute $ Opportunity
   4.6 Global Solar Polysilicon Ingot Wafer Cell Module Market: Impact Of Key Regulations
   4.7 Global Solar Industry Trends Overview
   4.8 Ingot & Wafer Cutting Process Comparative Outlook: Loose Abrasive Slurry Sawing v/s Diamond Wire Sawing
   4.9 KERF Applications in Various Industries: Overview
   4.10 KERF Residues Pricing Analysis
Chapter 5 Global Solar Polysilicon Ingot Wafer Cell Module Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Type
      5.2.1 Series Connection
      5.2.2 Parallel Connection
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Solar Polysilicon Ingot Wafer Cell Module Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Application
      6.2.1 Solar Power Station
      6.2.2 Civilian Solar Small Equipment
      6.2.3 Other
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Solar Polysilicon Ingot Wafer Cell Module Market Analysis and Forecast By End-use
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By End-use
      7.1.2 Basis Point Share (BPS) Analysis By End-use
      7.1.3 Absolute $ Opportunity Assessment By End-use
   7.2 Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By End-use
      7.2.1 Residential
      7.2.2 Commercial
      7.2.3 Utility
   7.3 Market Attractiveness Analysis By End-use
Chapter 8 Global Solar Polysilicon Ingot Wafer Cell Module Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast by Region
    8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Solar Polysilicon Ingot Wafer Cell Module Analysis and Forecast
   10.1 Introduction
   10.2 North America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Type
      10.6.1 Series Connection
      10.6.2 Parallel Connection
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 North America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Application
      10.10.1 Solar Power Station
      10.10.2 Civilian Solar Small Equipment
      10.10.3 Other
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
   10.14 North America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By End-use
      10.14.1 Residential
      10.14.2 Commercial
      10.14.3 Utility
   10.15 Basis Point Share (BPS) Analysis By End-use
   10.16 Absolute $ Opportunity Assessment By End-use
   10.17 Market Attractiveness Analysis By End-use
Chapter 11 Europe Solar Polysilicon Ingot Wafer Cell Module Analysis and Forecast
   11.1 Introduction
   11.2 Europe Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Russia
      11.2.7 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Type
      11.6.1 Series Connection
      11.6.2 Parallel Connection
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Europe Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Application
      11.10.1 Solar Power Station
      11.10.2 Civilian Solar Small Equipment
      11.10.3 Other
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
   11.14 Europe Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By End-use
      11.14.1 Residential
      11.14.2 Commercial
      11.14.3 Utility
   11.15 Basis Point Share (BPS) Analysis By End-use
   11.16 Absolute $ Opportunity Assessment By End-use
   11.17 Market Attractiveness Analysis By End-use
Chapter 12 Asia Pacific Solar Polysilicon Ingot Wafer Cell Module Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 South East Asia (SEA)
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Type
      12.6.1 Series Connection
      12.6.2 Parallel Connection
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Asia Pacific Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Application
      12.10.1 Solar Power Station
      12.10.2 Civilian Solar Small Equipment
      12.10.3 Other
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
   12.14 Asia Pacific Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By End-use
      12.14.1 Residential
      12.14.2 Commercial
      12.14.3 Utility
   12.15 Basis Point Share (BPS) Analysis By End-use
   12.16 Absolute $ Opportunity Assessment By End-use
   12.17 Market Attractiveness Analysis By End-use
Chapter 13 Latin America Solar Polysilicon Ingot Wafer Cell Module Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Type
      13.6.1 Series Connection
      13.6.2 Parallel Connection
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Latin America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Application
      13.10.1 Solar Power Station
      13.10.2 Civilian Solar Small Equipment
      13.10.3 Other
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
   13.14 Latin America Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By End-use
      13.14.1 Residential
      13.14.2 Commercial
      13.14.3 Utility
   13.15 Basis Point Share (BPS) Analysis By End-use
   13.16 Absolute $ Opportunity Assessment By End-use
   13.17 Market Attractiveness Analysis By End-use
Chapter 14 Middle East & Africa (MEA) Solar Polysilicon Ingot Wafer Cell Module Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast by Country
      14.2.1 GCC
      14.2.2 South Africa
      14.2.3 Turkey
      14.2.4 Rest of Middle East & Africa (MEA)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Type
      14.6.1 Series Connection
      14.6.2 Parallel Connection
   14.7 Basis Point Share (BPS) Analysis By Type
   14.8 Absolute $ Opportunity Assessment By Type
   14.9 Market Attractiveness Analysis By Type
   14.10 Middle East & Africa (MEA) Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By Application
      14.10.1 Solar Power Station
      14.10.2 Civilian Solar Small Equipment
      14.10.3 Other
   14.11 Basis Point Share (BPS) Analysis By Application
   14.12 Absolute $ Opportunity Assessment By Application
   14.13 Market Attractiveness Analysis By Application
   14.14 Middle East & Africa (MEA) Solar Polysilicon Ingot Wafer Cell Module Market Size Forecast By End-use
      14.14.1 Residential
      14.14.2 Commercial
      14.14.3 Utility
   14.15 Basis Point Share (BPS) Analysis By End-use
   14.16 Absolute $ Opportunity Assessment By End-use
   14.17 Market Attractiveness Analysis By End-use
Chapter 15 Competition Landscape
   15.1 Solar Polysilicon Ingot Wafer Cell Module Market: Competitive Dashboard
   15.2 Global Solar Polysilicon Ingot Wafer Cell Module Market: Market Share Analysis, 2020
   15.3 Ingot and Wafer Production Capacity - By Company
   15.4 General Overview of Ingot & Wafer Production Process- By Tier 1 Companies
   15.5 KERF Generated and Recycled Scenario: By Company
   15.6 Company Profiles (Details – Overview, Production Capacity, Details of Procurement Management, Financials, Developments, Strategy)
      15.6.1 Amerisolar
      15.6.2 Canadian Solar
      15.6.3 FuturaSun
      15.6.4 JA SOLAR Technology Co.,Ltd.
      15.6.5 Jakson Group
      15.6.6 JinkoSolar
      15.6.7 LDK Solar Technology Group
      15.6.8 Ningbo Polycrown Solar Tech Co, Ltd.
      15.6.9 Novergy Energy Solutions Pvt. Ltd.
      15.6.10 Q CELLS (Hanwha Group)
      15.6.11 Shanghai Just Solar Co.,Ltd.
      15.6.12 Yuhuan Sunpro Power Co.,Ltd

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