The Ultra-Efficient Solar Power Global Market Report 2023, provides comprehensive information on the ultra-efficient solar power market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global ultra-efficient solar power market is expected to grow from $1.56 billion in 2022 to $1.84 billion in 2023 at a compound annual growth rate (CAGR) of 18%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ultra-efficient solar power market is expected to reach $3.44 billion in 2027 at a CAGR of 16.9%.
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Technological advancement is the key trend gaining popularity in the ultra-efficient solar power market. Major companies operating in the ultra-efficient solar power market are focusing on integrating new technologies to develop more efficient solar panels for increasing electricity production from sunlight. For instance, in November 2021, JinkoSolar, a China-based photovoltaics company, launched next-generation N-type ultra-efficiency Tiger Neo modules. The New Tiger Neo uses N-type TOPCon technology, substantially improving reliability, performance, power, and energy density. The new module has an aggregate power generation of up to 620W in large quantities and an unusually high conversion efficiency of up to 22.30%. The N-type TOPCon technology from JinkoSolar generates around 3%–4% more energy and offers an efficiency improvement of 5%–6% over mono PERC. The new Tiger Neo modules incorporate a Multi-Busbar (MBB) and half-cut cell technology to reduce internal resistance loss and are mass-produced on 182mm wafers. Furthermore, the circular solder strip design increases optical gain, resulting in a module with up to 22.30% efficiency.
The ultra-efficient solar power market is segmented:
1) By Product: Silicon, Cadmium Telluride (CdTe), Copper Indium Diselenide, Gallium Arsenide (GaAs)
2) By Technology: Crystalline, Thin film PV, Concentric PV
3) By Application: Industrial, Commercial
North America was the largest region in the ultra-efficient solar power market in 2022.
The table of contents in TBRC’s ultra-efficient solar power market report includes:
1. Executive Summary
2. Ultra-Efficient Solar Power Market Characteristics
3. Ultra-Efficient Solar Power Market Trends And Strategies
4. Ultra-Efficient Solar Power Market – Macro Economic Scenario
5. Ultra-Efficient Solar Power Market Segmentation
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26. South America Ultra-Efficient Solar Power Market
27. Brazil Ultra-Efficient Solar Power Market
28. Middle East Ultra-Efficient Solar Power Market
29. Africa Ultra-Efficient Solar Power Market
30. Ultra-Efficient Solar Power Market Competitive Landscape And Company Profiles
Top Major Players:
- Reliance Industries Ltd
- Panasonic Corporation
- LG Electronics Inc
- Intel Corporation
- Mitsubishi Chemical Corporation
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