Thin Film Solar Cell Market Report 2026

The thin film solar cell market size has grown strongly in recent years. It will grow from $15.48 billion in 2025 to $16.82 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increased adoption of lightweight solar modules, growth in commercial rooftop installations, reliance on conventional silicon photovoltaics, development of early thin-film research prototypes, expansion of utility-scale solar projects.

The thin film solar cell market size is expected to see strong growth in the next few years. It will grow to $23.24 billion in 2030 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rising demand for flexible photovoltaic materials, growing deployment of thin-film modules in distributed energy, expansion of perovskite and organic pv technologies, increasing adoption in residential and commercial sectors, development of bifacial and tandem thin-film structures. Major trends in the forecast period include adoption of sustainable thin-film solar technologies, expansion of renewable energy grid integration, development of advanced automated solar manufacturing, integration of IoT-enabled solar monitoring platforms, enhancement of digital solar performance analytics.

The rising demand for renewable energy sources is anticipated to drive the growth of the thin film solar cell market in the coming years. Renewable energy sources are naturally replenished and virtually limitless, offering a sustainable and eco-friendly alternative to conventional fossil fuels. Thin film solar cells harness these renewable energy sources by capturing sunlight through their semiconductor layers, enabling electricity generation without exhausting finite resources. For example, in February 2024, the U.S. Energy Information Administration (EIA), a federal statistical agency under the Department of Energy, reported that in 2023, approximately 4.17 trillion kilowatt-hours (kWh) of electricity were produced at utility-scale facilities across the United States. Of this, around 60% originated from fossil fuels such as coal, natural gas, petroleum, and other gases, while 19% came from nuclear energy. Renewable energy accounted for roughly 21% of total generation, highlighting the ongoing shift toward cleaner power sources. Furthermore, small-scale solar photovoltaic systems contributed an estimated 73.62 billion kWh of electricity generation in 2023, further supporting the growth of renewable energy in the country. Thus, the escalating demand for renewable energy sources is fueling the expansion of the thin film solar cell market.

Major companies in the thin film solar cell market are concentrating on innovative products, such as silicon-based heterojunction (HJT) solar cells, to gain a competitive advantage. HJT solar cells are photovoltaic devices that incorporate various semiconductor materials with different bandgaps to boost efficiency. For example, in June 2023, Anhui Huasun Energy Co., Ltd., a solar company based in China, introduced N-type silicon-based heterojunction (HJT) solar cells. These cells represent a type of photovoltaic technology that merges two technologies into a single cell: a crystalline silicon cell situated between two layers of amorphous thin-film silicon. N-type silicon-based heterojunction (HJT) solar cells feature an emitter and back surface field (BSF) created through the low-temperature growth of ultra-thin layers of amorphous silicon (a-Si) on both sides of meticulously cleaned monocrystalline silicon wafers. Additionally, they utilize bifacial microcrystalline technology to enhance efficiency.

In May 2023, First Solar, Inc., a US-based company specializing in thin film photovoltaics (PV), acquired Evolar AB for approximately $38 million. The agreement also includes the potential for an additional $42 million, contingent upon meeting specific technical milestones. This acquisition enhances First Solar's position in advanced PV technologies, focusing on expanding its capabilities in thin film solar innovation. The transaction is anticipated to affect 2023 operating expenses by $2-4 million, excluding the impact of purchase price accounting. Evolar AB is a Sweden-based company that specializes in perovskite solar cell technology.

Major companies operating in the thin film solar cell market are Ascent Solar Technologies Inc., Filsom AG, First Solar Inc., Hanergy Mobile Energy Group Ltd., Miasole Hi-Tech Corp., Mitsubishi Heavy Industries Ltd., Shunfeng International Clean Energy Limited, Solar Frontier K.K., NanoPV Solar Inc., Oxford Photovoltaics Ltd., Global Solar Inc., Solara GmbH, Toledo Solar Inc., Flisom Ltd., ENN Energy Holdings Ltd., Sharp Corp., Kaneka Corp., NexPower Technology Corp., Greatcell Solar Ltd., Exeger Operations AB, Fujikura Europe Ltd., G24 Power Ltd., Heliatek GmbH, Hanwha Qcells Co. Ltd., AVANCIS GmbH, Solbian Energie Alternative Srl, JA Solar Technology Co. Ltd.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have influenced the thin film solar cell market by increasing costs for imported photovoltaic materials, semiconductor layers, deposition equipment, and specialty glass sourced from global suppliers. Utility, commercial, and residential sectors in North America, Europe, and Asia-Pacific have faced higher installation costs and procurement delays. Nonetheless, tariffs are driving regional solar manufacturing expansion, fostering innovation in cost-efficient thin-film technologies, and strengthening long-term supply chain resilience for renewable energy deployment.

The thin film solar cell market research report is one of a series of new reports that provides thin film solar cell market statistics, including thin film solar cell industry global market size, regional shares, competitors with thin film solar cell market share, detailed thin film solar cell market segments, market trends, and opportunities, and any further data you may need to thrive in the thin film solar cell industry. This thin film solar cell market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A thin film solar cell is a device that effectively converts light energy into electrical energy by utilizing micron-thin layers of photon-absorbing materials on a flexible substrate. These solar cells are ideally suited for solar farms and are commonly used to power traffic signals and streetlights.

Various types of thin film solar cells exist, including cadmium telluride, amorphous thin-film silicon, copper indium gallium selenide, microcrystalline tandem cells, thin-film polycrystalline silicon, among others. Cadmium telluride-based solar cells use thin layers of cadmium telluride as a semiconductor to convert absorbed sunlight into electricity. These technologies operate either on-grid or off-grid and find applications in residential, commercial, and utility sectors.Asia-Pacific was the largest region in the thin film solar cell market in 2025. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the thin film solar cell market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the thin film solar cell market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The thin film solar cell market consists of sales of n-type silicon, p-type silicon, glass, polyimide, photon materials, metal. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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