Global Solar PV Wafer Market To Grow By 73.71 GW By 2026
- Research company Technavio predicts a solid growth for the global solar wafers market. The firm anticipates the solar photovoltaic wafer market to grow by 73.71 gigawatts from 2021 to 2026.
The growth momentum of the market will speed up at a CAGR of 14.80% during the forecast duration. This is a period when several markets, especially India, will certainly add to their own capacities on the back of federal government motivations, a number that has probably not been completely factored in yet.
It must be kept in mind that China dominates the wafer market a lot more than it does for the last final result, solar modules or panels.
Based upon segmentation by end-user, the utility segment will be the leading segment throughout the forecast period. Developments in power electronic devices used in solar PV systems is just one of the significant fads in the marketplace. In 2022, the marketplace is anticipated to grow at a year-over-year development price of 13.04%. 44% of the market's growth will originate from APAC throughout the forecast duration.
The market is fragmented, and also the level of fragmentation will accelerate throughout the forecast period. CETC Solar Energy Holdings Co. Ltd., GCL Poly Energy Holdings Ltd, GlobalWafers Singapore Pte Ltd., JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Lanco Infratech Ltd., Longi green energy technology Co. Ltd., Sino-American Silicon Products Inc., SOLARWORLD Africa Pty Ltd., and also Targray Technology International Inc. are a few of the major market participants. The essential offerings of a few of these suppliers are listed below:
- CETC Solar Energy Holdings Co. Ltd.-- The company uses manufacture and also sale of solar items such as solar wafers, solar ingots, and also solar cells.
- GCL Poly Energy Holdings Ltd-- The firm provides such as GCL S4 multi wafer, GCL TS multi wafer, as well as GCL G4 ingotting mono wafer.
- JA Solar Technology Co. Ltd.-- The company offers silicon wafers, cells, and modules to complete photovoltaic or pv power systems.