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PV Ribbon Market to Observe Strong Development by 2026

Press Release

PV Ribbon Market: Overview

Increasing demand for energy and rising concerns about global warming have forced governments and authorities to shift their focus from fossil fuels such as coal and crude oil toward green and clean sources of energy. This has resulted in increasing popularity of and investments in renewable energy sources such as solar, wind, hydro, and geothermal across the globe. With ratification of the Paris Agreement, governments across the world are investing heavily in renewable energy. Solar is one of the major sources of renewable energy, in which countries are investing heavily. According to the International Renewable Energy Agency, the overall global installed solar capacity stood at 389.6 GW in 2017.

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Solar panels form an integral part of a solar energy system, which converts solar energy into heat or electricity. The PV ribbon is generally a copper conductor, which is coated with either hot-dipped solder or electrolytic tin, which is primarily used in solar panels. The ribbon interconnects solar cells in a photovoltaic solar module by soldering them directly on silicon crystals. In PV ribbons, copper is largely used as a base material, while aluminum alloys can also be used as a base material occasionally. Coating composition and thickness also play an important role in determining the reliability and strength of the coating in PV ribbons. There are several critical factors that need to be considered while designing PV ribbons such as yield strength, elongation, camber, and winding. These factors affect the performance of PV ribbons, solar modules, and the overall solar energy system. Low yield strength minimizes the possibility of solar cell breakages. Hence, maximizing the overall module power, while maintaining high elongation and minimum camber is desirable for proper functioning of the ribbon and the module.

PV Ribbon Market: Key Segments

Based on type, the global PV ribbon market can be segmented into interconnect ribbon and bus bar. The interconnect PV ribbon is used to interconnect several solar cell in a photovoltaic panel. The interconnect ribbon is directly soldered on the silicon crystals. They also carry the electric current produced in the solar cells to the PV bus bar. The bus bar PV ribbon is generally a hot dip tinned copper conductor which is installed around the solar panel perimeter. The bus bar functions as a connection between interconnect ribbon and the PV junction box. Based on application, the global PV ribbon market can be segregated into solar battery, solar modules to junction box arrangement and film substrate.

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PV Ribbon Market: Regional Outlook

In terms of region, the global PV ribbon market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global PV ribbon market during the forecast period, owing to the large number of manufacturers of solar panels and PV ribbons in the region, especially China and India. The solar industry in these countries is expanding at a rapid pace. Moreover, the PV ribbon market in Asia Pacific is likely to expand at a rapid pace during the forecast period, primarily due to increasing investments in the solar industry in the region, especially in countries such as China and India, wherein favorable government initiatives and lower solar panel prices are augmenting the industry. Europe is estimated to be the second-largest PV ribbon market during the forecast period.

PV Ribbon Market: Key Players

Some of the key players operating in the global PV ribbon market are ULBRICH SOLAR TECHNOLOGIES, INC., SHENMAO Technology Inc., Targray, Tamra Dhatu, Gebauer & Griller, Luvata, Bruker-Spaleck GmbH, Sarkuysan, AB INDUSTRIES, and SUKRITI VIDYUT UDYOG PRIVATE LTD.

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