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Thin Film Solar Cell Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Thin Film Solar Cell Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • October 2022
  • 143 pages
  • ID: 6359788
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global thin film solar cell market size reached US$ 12.54 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 25.63 Billion by 2027, exhibiting a growth rate (CAGR) of 11.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A thin film solar cell (TFSC) is a renewable energy device designed to convert light energy into electrical energy. It is produced by depositing one or more thin layers of photovoltaic materials on substrates, such as glass, plastic, and metal. Cadmium telluride (CdTe), amorphous silicon (a-Si), copper indium gallium selenide (CIGS), and gallium arsenide (GaAs) are some commonly used photovoltaic materials in TFSC. It is widely used in electronic powering circuits, home light applications, solar fields, rooftop installations, recreational vehicles, and camping. As compared to conventional photovoltaic cells, TFSC is more lightweight, cost-effective, and provides enhanced flexibility for wide-ranging applications. It also offers larger area modules, shorter energy payback periods, lower material consumption, monolithic integration, and tuneable material properties.

Thin Film Solar Cell Market Trends:
The increasing adoption of renewable energy sources due to the rising environmental concerns among the masses across the globe is creating a positive outlook for the market. A TFSC is a sustainable, renewable, clean, and reliable energy source that generates power without creating noise pollution or producing toxic and greenhouse gases (GHG). In addition, the rising demand for solar-powered light on road dividers and streets is acting as another growth-inducing factor. Furthermore, widespread product adoption due to the rising energy consumption, coupled with increasing electricity prices, is providing an impetus to the market growth. Additionally, extensive research and development (R&D) activities in anti-reflective coatings, surface texturing, plasmonic light capture, and optimizing solar cell materials to enhance the efficiency and absorption capabilities of TFSC are providing an impetus to the market growth. Moreover, the integration of nanotechnology that provides an improved optical path for absorption, reduces recombination losses, and offers design flexibility is positively influencing the market growth. Other factors, including increasing initiatives by several governments toward sustainable development, decreasing dependence on fossil fuels, and recent technological advancements to reduce production costs, are anticipated to drive the market growth.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global thin film solar cell market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, installation and end user.

Breakup by Type:
Cadmium Telluride
Amorphous Thin-Film Silicon
Copper Indium Gallium Selenide
Microcrystalline Tandem Cells
Thin-Film Polycrystalline Silicon
Others

Breakup by Installation:
On-Grid
Off-Grid

Breakup by End User:
Residential
Commercial
Utility

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Ascent Solar Technologies Inc., First Solar Inc., Flisom, Hanergy Thin Film Power EME B.V., Kaneka Corporation, Miasole (Hanergy Holding Group Ltd.), Oxford Photovoltaics Limited, Trony Solar Holdings Company Limited and Wuxi Suntech Power Co. Ltd.



Key Questions Answered in This Report:

How has the global thin film solar cell market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global thin film solar cell market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the installation?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global thin film solar cell market and who are the key players?
What is the degree of competition in the industry?

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