(MENAFN- Markets Research Reports)
the solar cell (photovoltaic) equipment market refers to the equipment used in the manufacturing of solar cells or photovoltaic modules. This equipment includes machines, tools, and components used in the various stages of solar cell production such as wafer production, cell production, module production, and testing.
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The market for equipment is growing rapidly due to the increasing demand for solar energy worldwide, driven by government incentives and the need for clean, renewable energy sources. According to a report by Market Research Future, the global solar cell equipment market is expected to grow at a CAGR of 22.68% from 2017 to 2023, reaching a market size of $24.4 billion by 2023.
The major players in equipment market include Applied Materials, Inc., Meyer Burger Technology AG, Centrotherm Photovoltaics AG, Tokyo Electron Limited, and Jusung Engineering Co., Ltd. Other companies include Ulvac Inc., TEL Solar, Manz AG, and Amtech Systems, Inc.
The market for equipment is highly competitive, with new players entering the market every year. The Asia-Pacific region is the largest market for solar cell equipment due to the presence of large solar cell manufacturing companies in countries like China, Taiwan, and South Korea. Europe and North America also have significant markets for solar cell equipment due to the presence of established solar cell manufacturers in these regions.
The demand for equipment is expected to increase in the coming years, driven by the increasing demand for solar energy and the declining costs of solar cell production. However, the market may face challenges due to the high capital expenditure required for setting up a solar cell manufacturing plant and the availability of alternative sources of renewable energy such as wind and hydro power.
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