According to the research report titled ‘Solar Silicon Wafer Market Size, By Type (Monocrystalline Wafer, Polycrystalline wafer), By Application (PV Modules, Inverter, Solar Cell, Solar Racking System, Solar Battery), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, worldwide solar silicon wafer market is anticipated to generate lucrative returns over the forecast period 2021-2027.
 

As per the report findings, increasing government efforts to expand solar capacity, mounting demand from solar racking system providers, and surging product adoption in applications such as solar cell, solar battery, inverters, and PV modules are stimulating solar silicon wafer market growth.
 

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For those unaware, silicon wafers are components used to produce semiconductors, which are found in all types of electronic devices used by people on a regular basis. Silicon wafer used in solar applications is a circular disk built from high purity silicon material. It is also known as solar wafer and is vital for photovoltaic power generation and production.
 

Based on product type, worldwide solar silicon wafer industry is arrayed into monocrystalline, and polycrystalline wafer.
 

Considering application ambit, the industry segmentation comprises solar racking system, inverter, PV modules, solar cell, and solar battery. Of these, solar racking systems segment is expected to garner a CAGR of 5% over 2021-2027, owing to surging demand for large silicon wafers across the sector.
 

Geographically speaking, North America, Asia Pacific, Europe, and LAMEA (Latin America, Middle East & Africa) are the leading contributors to overall industry progression. Among these, LAMEA market registered 7.5% growth in 2020, and is expected to follow a similar trend over the study period. This can be attributed to increasing government initiatives to promote solar projects, as well as mounting product applications in the utility sector.
 

Prominent players in solar silicon wafer marketplace are Tianjin Zhonghuan Semiconductor Co. Ltd., Wuxi Suntech Power Co. Ltd., Targray Technology International Inc., Tangshan Haitai New Energy Technology Co. Ltd., Solargiga Energy Holdings Ltd., Sino-American silicon Products Inc., Shanxi Lu'an Photovoltaics Technology Co. Ltd., LONGi Green Energy Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Jiangxi LDK Solar Hi-Tech Co. Ltd., Jiangsu Huantai Group, GCL-Poly Energy Holdings Ltd., Electronics And Materials Corp. Ltd., Comtec Solar Systems Group Ltd., Changzhou xusheng - energy Co. Ltd., and CETC Solar Energy Holdings Co. Ltd.