Solar Ingot Wafer Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product (Monocrystalline, Polycrystalline); Application (Mono Solar Cell, Multi Solar Cell); and Region/Country
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.
Solar ingot wafer product, 2020
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.
Customization Options:
Global solar ingot wafer market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global solar ingot wafer market were the three major steps undertaken to create and analyze the adoption of solar ingot wafer in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global solar ingot wafer market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of Solar ingot wafer market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the solar ingot wafer market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of solar ingot wafer market. Further, we conducted factor analysis using dependent and independent variables such as rising preferences towards renewable power sources. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the solar ingot wafer market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global solar ingot wafer market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of solar ingot wafer market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global solar ingot wafer market in terms of revenue generated. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global solar ingot wafer market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product and application in the global solar ingot wafer market.
The main objective of the Global Solar ingot wafer Market Study
The current & future market trends of global solar ingot wafer market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of solar ingot wafer market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product and application.
- Define and analysis of the regulatory framework for the solar ingot wafer market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the solar ingot wafer market for the major region.
- Major regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the solar ingot wafer market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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February 11, 2025
