Crystalline solar collector market

Crystalline solar collector are used to absorb heat from sunlight. Collector is a type of device for capturing solar radiations. Monocrystalline and polycrystalline are two types of crystalline solar collector, which are used in manufacturing photovoltaic (PV) cells. These solar collector are made from crystalline silicon. The other materials that can be used in manufacturing PV cells include cadmium telluride and copper indium gallium sulfide. Monocrystalline have the highest efficiency rate as they are made with the pure silicon. Polycrystalline solar cells are not manufactured from pure silicon and are less efficient. Several types of solar collectors such as thin-film solar cells, amorphous silicon collectors, cadmium telluride cells, and organic photovoltaic collectors are developed to improve the efficiency of solar energy. The thin film type of PV cell collector offers benefits such as low consumption of raw materials, high efficiency, reduction in overheating and excellent performance at high temperatures. Moreover, these cells find its application in power source of electronic devices, gadgets, residential rooftops, and vehicle batteries.

Factors Driving Growth of Crystalline Solar Collector Market

The increasing demand for clean energy is the major factor that is expected to drive the market growth of crystalline solar collector market over the forecast period. Technological innovations in the development of photovoltaic cells plays a significant role in capturing solar energy efficiently. Solar collector panel are combined with photovoltaic cells to convert solar energy into electrical energy with the help of photoelectric effect. Crystalline silica and its oxides are used to manufacture photovoltaic cells. The major types of silicon currently used in manufacturing of PV cells include monocrystalline silicon, polycrystalline silicon, and amorphous silicon.

Moreover, rising number of photovoltaic (PV) cells installations are expected to drive demand for storage grid and also for lithium battery, in order to save more solar power. For instance, in 2018, according to Coherent Market Insight report, U.S. has installed 65.5 GW solar, which provide enough power to 15.3 million homes in the U.S. Furthermore, crystalline solar PV collector finds its application in industrial and residential sector and this is expected to drive growth of the crystalline solar collector market over the forecast period.

However, major restraints for crystalline solar collector market is the initial cost of PV cells. Also, the new crystalline solar cells are more expensive and toxic for the environment. These factors are expected to hamper the growth of crystalline solar collector market over the forecast period.

Regional Analysis of Crystalline Solar Collector Market

On the basis of regions, the crystalline solar collector market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account for the largest market share over the forecast period, owing to presence of key players in the region such First Solar and Canadian Solar. The demand of PV cell in this region is increasing due to rising residential solar applications.

Apart from North America, Asia Pacific is expected to grow significantly over the forecast period, owing to the low cost for manufacturing of photovoltaic cells in this region. Moreover, due to low cost of these cells many countries are installing PV cells and which saves solar energy for future. For instance according to the National Energy Administration (NEA), the China-based PV cell manufactures deployed 44.1 GW of solar in 2018.

Key Players in Crystalline Solar Collector Market

Key players operating in the crystalline solar collector market include Wuxi Suntech Solar Power Co., Ltd,  First Solar, juwi AG, Siemens Canadian Solar,Yingli Solar, PHOTONIX Solar Private Limited, Trina Solar,GREENoneTEC, Viessmann Werke GmbH & Co. KG, and BDR Thermea Group.

Segmentation of Crystalline Solar Collector Market

Crystalline solar collector market is segmented on the basis of type, application, and region.

On the basis of type,  the crystalline solar collector market is segmented into:

• Monocrystalline
• Polycrystalline
• Others

On the basis of application, the crystalline solar market is segmented into:

• Residential
• Commercial
• Industrial

On the basis of region, the crystalline solar market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa