Solar Ingot Wafer Market is expected to Gain the Valuation of US$ 70.4 Mn by 2031, States TMR Study
- Rise in urbanization, population, and industrialization across the globe is driving sales prospects in the solar ingot wafer market
- The Asia Pacific solar ingot wafer market is prognosticated to gain sizable business opportunities, owing to the presence of favorable government policies
ALBANY, N.Y, April 19, 2022 /PRNewswire/ — Transparency Market Research: The global solar ingot wafer market is estimated to register growth at a CAGR of 12.33% during the forecast period of 2021 to 2031, note analysts of a study by Transparency Market Research (TMR).
Companies operating in the global solar ingot wafer market are strategizing their business moves in order to fulfil current global needs for solar energy. Moreover, several enterprises are utilizing different subsidies and tax benefits provided by governments for the development of necessary infrastructures needed for solar power plants. Furthermore, rise in focus of companies on technological advancements in photovoltaic and solar plants is prognosticated to fuel the growth of the global solar ingot wafer market.
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Solar Ingot Wafer Market: Key Findings
- Regulatory bodies of several nations around the world are increasing initiatives in order to promote the use of natural sources of energy. This factor is boosting sales prospects in the solar ingot wafer market. Besides, many countries are focusing on decreasing solar technology costs and production practices. As a result, there has been a surge in investments in the solar energy sector. This, in turn, is driving sales in the global solar ingot wafer market. In addition, the market for solar ingot wafer is positively influenced by the presence of favorable policies by governments of several nations.
- Over the period of past few years, demand for electricity has been on surge, owing to rapid industrialization, urbanization, and rising population globally. As a result, government authorities of many nations are concentrating on energy production using renewable resources of energy. This, in turn, is bolstering the solar ingot wafer market, which is projected to help in gaining the valuation of US$ 70.4 Mn by 2031.
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Solar Ingot Wafer Market: Growth Boosters
- Wafers and ingots are considered key constituents in the production of solar cells and modules. Hence, rise in demand for solar installations is boosting the demand opportunities in the solar ingot wafer market.
- Technological developments in photovoltaic and surge in number of solar plants across the globe are projected to fuel the expansion of the global solar ingot wafer market during the forecast period
Solar Ingot Wafer Market: Regional Analysis
- The solar ingot wafer market in Asia Pacific is expected to maintain its dominant position during the forecast period, owing to many factors such as existence of a considerable number of companies from the ingot & wafer industry and rise in industrial activities. Furthermore, the Asia Pacific solar ingot wafer market is driven by surge in investments in the solar energy sector by regional governmental authorities and increase in understanding on advantages of solar energy.
- Europe is one of the prominent regions in the solar ingot wafer market due to the presence of favorable government policies encouraging business sustainability programs, rise in use of renewable energy, and intensive fluctuations in crude oil prices in the region
Solar Ingot Wafer Market: Key Players
Some of the key players profiled in the report are:
- DCH Group international
- CETC Solar Energy Holdings Co., Ltd.
- EPC Group
- Konca Solar Cell Co., Ltd.
- Kalyon Solar Technologies Factory
- Targray Technology International Inc.
- JA SOLAR Technology Co., Ltd.
- NorSun AS
- SUOZ Energy Group
- Maharishi Solar Technology (P) Ltd.
- LONGi Solar Technology Co., Ltd.
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Solar Ingot Wafer Market Segmentation
- Mono Solar Cells
- Multi Solar Cells
- Loose Abrasive Slurry Sawing
- Diamond Wire Sawing
- North America
- Asia Pacific
- Rest of World
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