The global thin film solar cell market size reached US$ 14.2 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 28.2 Billion by 2028, exhibiting a growth rate (CAGR) of 12.3% during 2023-2028.
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.
2. What is the expected growth rate of the global thin film solar cell market during 2023-2028?
3. What are the key factors driving the global thin film solar cell market?
4. What has been the impact of COVID-19 on the global thin film solar cell market?
5. What is the breakup of the global thin film solar cell market based on the type?
6. What is the breakup of the global thin film solar cell market based on the installation?
7. What is the breakup of the global thin film solar cell market based on the end user?
8. What are the key regions in the global thin film solar cell market?
9. Who are the key players/companies in the global thin film solar cell market?
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 report 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 2023-2028. 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
1. What was the size of the global thin film solar cell market in 2022?2. What is the expected growth rate of the global thin film solar cell market during 2023-2028?
3. What are the key factors driving the global thin film solar cell market?
4. What has been the impact of COVID-19 on the global thin film solar cell market?
5. What is the breakup of the global thin film solar cell market based on the type?
6. What is the breakup of the global thin film solar cell market based on the installation?
7. What is the breakup of the global thin film solar cell market based on the end user?
8. What are the key regions in the global thin film solar cell market?
9. Who are the key players/companies in the global thin film solar cell market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Thin Film Solar Cell Market
6 Market Breakup by Type
7 Market Breakup by Installation
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
- Wuxi Suntech Power Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | October 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 14.2 Billion |
| Forecasted Market Value ( USD | $ 28.2 Billion |
| Compound Annual Growth Rate | 12.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
