Asia-Pacific TOPCon (Tunnel Oxide Passivated Contact) Solar Cells Industry Report 2023-2032: Emergence of TOPCon Solar Cells as New PV Module Technology and Rising PV Demand in Emerging Markets

DUBLIN, March 13, 2024 /PRNewswire/ -- The "Asia-Pacific TOPCon Solar Cells Market - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The Asia-Pacific TOPCon solar cells market (excluding China) was valued at $1.60 billion in 2022 and is anticipated to reach $8.95 billion by 2032, witnessing a CAGR of 20.3% during the forecast period 2023-2032. The TOPCon solar cells industry is anticipated to grow significantly in the APAC region. The rising need for solar cells with flexible manufacturing processes and great efficiency - made possible by TOPCon technology - will drive this expansion.

A number of factors are contributing to the TOPCon solar cells industry's strong growth in the APAC market. First, a growing number of businesses are providing TOPCon cells, suggesting a potential market. Furthermore, TOPCon solar cells are becoming more and more popular throughout the world due to improvements in photovoltaic technologies, particularly with the rise in utility projects in the residential and commercial sectors. Additionally, the region exhibits higher spending in the sector of renewable energy, which supports the general growth of the solar industry.

Significant investments have been made globally due to the low carbon footprint and competitive manufacturing costs connected with renewable energy. The demand for TOPCon solar cells is further fueled by its higher effectiveness when compared to conventional solar cell technologies. Given the anticipated high demand from the utility, residential, and commercial sectors, the competition among established and emerging TOPCon solar cell providers is expected to intensify in the APAC market.

The Asia-Pacific TOPCon Solar Cells Market: Drivers and Challenges

The growing population and various government policies toward a clean and renewable energy-based sustainable economy in the region are creating a growing demand for clean energy alternatives, which is supporting the growth of the TOPCon solar cell market in the region.

The majority of countries in the Asia-Pacific and Japan region are currently developing, and most of them, such as Afghanistan, Nepal, and Bangladesh in the region have fewer infrastructures for renewable electricity generation by harnessing sources of renewable energy such as solar, wind, and other. The region also lacks advanced solar technology capabilities. Therefore, these factors may negatively affect the growth of the TOPCon solar cell market in the Asia-Pacific and Japan region.

Analyst's Perspective on TOPCon Solar Cells Market

The TOPCon solar cells market is likely to grow multi-fold in the coming years during the forecast period, owing to the rapidly growing demand for renewable energy sources for power generation. With the growing demand for solar PV with advanced or higher efficiency technologies, the TOPCon solar cells have become more crucial than ever for end-use applications, including utility, residential, and others.

The TOPCon solar cells providers are focused on developing higher efficient and durable cells that are in line with the changing demand patterns across the solar PV industry. In terms of market rivalry/competition, the TOPCon solar cells market is more on the consolidated side at present. However, the established TOPCon solar cells providers are expected to face stiff competition from emerging TOPCon solar cells providers which are working on technologically advanced and highly efficient cells.

How can this report add value to an organization?

Product/Innovation Strategy:

The product segment helps the reader to understand the different types involved in TOPCon solar cells. Moreover, the study provides the reader with a detailed understanding of the Asia-Pacific TOPCon solar cells market based on the end user (residential, commercial, utility, agriculture, and others). TOPCon solar cells are gaining traction in end-user industries on the back of sustainability concerns and their higher efficiency properties.

They are also being used for controlling GHG emissions. Moreover, partnerships and collaborations are expected to play a crucial role in strengthening market position over the coming years, with the companies focusing on bolstering their technological capabilities and gaining a dominant market share in the TOPCon solar cells industry.

Growth/Marketing Strategy:

The Asia-Pacific TOPCon solar cells market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include partnerships, agreements, and collaborations.

Competitive Strategy:

The key players in the Asia-Pacific TOPCon solar cells market analyzed and profiled in the study include TOPCon solar cells providers that develop, maintain, and market TOPCon solar cells. Moreover, a detailed competitive benchmarking of the players operating in the Asia-Pacific TOPCon solar cells market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape.

Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Some of the prominent names established in this market are:

• Wuxi Suntech Power Co., Ltd.
• Trina Solar Co., Ltd.
• JA SOLAR Technology Co., Ltd.
• LONGi
• Websol Energy System Limited
• Sharp Energy Solutions Corporation
• Jolywood

Key Topics Covered:

1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Emergence of TOPCon Solar Cells as New PV Module Technology in the Solar Industry
1.1.1.2 Rising Photovoltaics Demand in Emerging Markets
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of TOPCon Solar Cells Market
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Impact of COVID-19 on the TOPCon Solar Cells Market
1.1.5 Comparative Analysis between TOPCon, Heterojunction, and Perovskite Solar Cells
1.1.6 Comparative Analysis between TOPCon and PERC Cells
1.1.7 Potential Efficiency of Solar Cells and Panels
1.1.8 Significant Advancements in TOPCon Solar Cells
1.1.9 Recent Investments Made in TOPCon Solar Cells Market
1.1.10 Emerging Start-Up Companies of TOPCon Solar Cells Market
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Investment in Renewable Energy Sources for Power Generation
1.2.1.2 Flexible Manufacturing Process with TOPCon Technology
1.2.1.3 Growing Demand for TOPCON Solar Cells Due to Increased Upper Level of Efficiency
1.2.2 Business Challenges
1.2.2.1 Increased Need for Silver to Print the Contacts on the Cell
1.2.2.2 Constrained Market Acceptance and High Competition
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions, Partnerships, Collaborations, and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Growing Research and Development Activities for TOPCon Solar Cells
1.2.5.2 Growing Concern for the Environment and Carbon Neutrality Targets
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem

2 Regions
2.1 China
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Producers and Suppliers in China
2.1.1.3 Regulatory Landscape
2.1.1.4 Business Drivers
2.1.1.5 Business Challenges
2.1.2 Application
2.1.2.1 China TOPCon Solar Cells Market (by End User), Volume and Value Data
2.1.3 Product
2.1.3.1 China TOPCon Solar Cells Market (by Type), Volume and Value Data
2.1.3.2 China TOPCon Solar Cells Market (by Installation), Volume and Value Data
2.2 Asia-Pacific and Japan
2.2.1 Markets
2.2.1.1 Key Producers and Suppliers in Asia-Pacific and Japan
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Application
2.2.2.1 Asia-Pacific and Japan TOPCon Solar Cells Market (by End User), Volume and Value Data
2.2.3 Product
2.2.3.1 Asia-Pacific and Japan TOPCon Solar Cells Market (by Type), Volume and Value Data
2.2.3.2 Asia-Pacific and Japan TOPCon Solar Cells Market (by Installation), Volume and Value Data
2.2.4 Asia-Pacific and Japan (by Country)
2.2.4.1 Japan
2.2.4.2 South Korea
2.2.4.3 India
2.2.4.4 Vietnam
2.2.4.5 Rest-of-Asia-Pacific and Japan

3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix for Key Companies (by Type)
3.1.3 Market Share Analysis of Key Companies, 2021
3.2 Company Profiles
3.2.1 Wuxi Suntech Power Co., Ltd.
3.2.1.1 Company Overview
3.2.1.2 Role of Wuxi Suntech Power Co., Ltd. in the TOPCon Solar Cells Market
3.2.1.2.1 Product Portfolio
3.2.1.2.2 Production Sites
3.2.1.2.3 Business Strategies
3.2.1.2.3.1 Product Developments
3.2.1.2.3.2 Market Developments
3.2.1.2.4 Corporate Strategies
3.2.1.2.4.1 Mergers, Acquisitions, Partnerships, and Joint Ventures
3.2.1.2.5 R&D Analysis
3.2.1.3 Analyst View
3.2.2 Trina Solar Co., Ltd.
3.2.3 JA SOLAR Technology Co., Ltd.
3.2.4 LONGi
3.2.5 Websol Energy System Limited
3.2.6 Sharp Energy Solutions Corporation
3.2.7 Jolywood

4 Research Methodology

For more information about this report visit https://www.researchandmarkets.com/r/ed6qek

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected] 
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets