Global Passivated Emitter Rear Cell Market is driven by increasing demand for enhanced and efficient solar panels in the forecast period, 2023-2027.
According to TechSci Research report, “Passivated Emitter Rear Cell Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027.” The global passivated emitter rear cell market may show a robust growth in the forecast years, 2023-2027 with an anticipated CAGR value. The market growth can be attributed to the factors like increasing demand for more efficient photovoltaic products. Surge in the demand for green energy is also responsible for the growth of the global passivated emitter rear cell market in the upcoming five years. In general, increasing energy demand from various end use industries and consumers is the major factor driving the growth of the global passivated emitter rear cell market in the next five years. Moreover, increased research, technological advancement, innovative product development, and enhancing existing technologies to improve their performance along with the increasing investments in the given sections is expected to further substantiate the growth of the global passivated emitter rear cell market in the future five years.
Additionally, government initiatives to promote the photovoltaic products, and support the usage of renewable sources of energy, such that increasing concerns toward depleting non-renewable sources of energy can be compensated, is also aiding the growth of the global passivated emitter rear cell market in the forecast years until 2027.
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The global passivated emitter rear cell market segmentation is based on component, type, application, regional distribution, and competitive landscape. Based on component, the market is segmented into anti-reflective coating, silicon wafers, passivation layer, capping layer, and others. Anti-reflective coating may dominate the market in the upcoming five years due to maximum utilization of the component during energy conversion.
Based on type, the market is further differentiated into monocrystalline, polycrystalline, and thin film. Monocrystalline type of passivated emitter rear cells is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing technological investments in the product and thus increasing demands for the same. Monocrystalline passivated emitter rear cell is a combination of single crystal cell, passivated emitter cell, and back cell. The solar panel provides higher flexibility and has various placements viability & tilt options without compromising its efficiency thus it is more preferred and drives the global passivated emitter rear cell market in the next five years. Mono PERC are also efficient in case of low lighting thus regions like European countries can effectively use these for power generation.
Application segment of the market is also fragmented into residential, commercial & industrial, and utilities. Industrial application for passivated emitter rear cell is expected to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increased demand for the excessive production of green energy on a larger scale. Industrial applications are further growing on the backbone of preferences of the solar energy manufacturers and global players who prefer PERC for its mature technology and advantages over the traditional technologies like solar cells with tunnel oxide, passivating contacts, heterojunctions and perovskites.
Some of the market players, dominating the global market are
- Targray
- Aleo Solar
- SunPower Corporation
- JinkoSolar
- JA Solar
- Trina Solar
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“North America region is anticipated to hold the largest revenue shares of the market and dominate the market in the next five years on the account of increasing investment in the electricity and power generation using renewable resources of energy. Also, countries like the United States and Canada have well established infrastructure, products, and sources to sustain the growing demand for electricity generation from solar panels. European countries are also equally involved with the solar power generation to reach the mentioned targets by European Union thus supporting the market growth. The respective governments of the involved countries are further extending financial aid to support market growth. The region anticipates being carbon neutral by 2030 and shift completely toward using green energy for various end uses. Asia Pacific region is expected to register fastest growth in the upcoming five years due to increased regional globalization, and urbanization. Countries like China, India, Japan are actively involved in the renewable energy production in the future five years due to increasing concerns toward depleting environment due to excessive use of non-renewable fossil fuels,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Passivated Emitter Rear Cell Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Component (Anti-Reflective Coating, Silicon wafers, Passivation layer, Capping Layer, Others), By Type (Monocrystalline, Polycrystalline, Thin Film), By Application (Residential, Commercial & Industrial, Utilities), By Region”, has evaluated the future growth potential of global passivated emitter rear cell and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global passivated emitter rear cell market.
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