Overview and Scope
A thin film solar cell refers to a device that converts light energy into
electrical energy and is made up of micron-thick photon-absorbing material
layers placed over a flexible substrate. The thin film solar cell is
appropriate for use in solar farms and is used to power traffic and street
lights.
Sizing and Forecast
The thin film solar cell market size has grown strongly in recent years. It
will grow from $13.37 billion in 2023 to
$14.68 billion in 2024 at a compound
annual growth rate (CAGR) of 9.8%.
The growth in the historic period
can be attributed to government incentives and subsidies, reduced material
costs, increased focus on sustainability, scalability and flexibility, improved
manufacturing processes, global energy demand..
The thin film solar cell market size is expected to see strong growth in the
next few years. It will grow to $20.94
billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be
attributed to market competitiveness, evolving consumer preferences, energy
storage integration, increasing adoption in emerging markets, advancements in
materials science, enhanced performance in low-light conditions, strategic
investments in manufacturing capacity.. Major trends in the forecast period
include technological advancements and efficiency improvements, tandem and
multijunction thin film solar cells, increased adoption in building-integrated
photovoltaics (bipv), cadmium-free thin film technologies, rural electrification
and off-grid applications, focus on recycling and sustainability..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/thin-film-solar-cell-global-market-report
Segmentation & Regional Insights
The thin film solar cell market covered in this report is segmented –
1) By Type: Cadmium Telluride, Amorphous Thin-film Silicon, Copper Indium
Gallium Selenide, Microcrystalline Tandem Cells, Thin-film Polycrystalline
Silicon, Other Types
2) By Technology: On-Grid, Off-Grid
3) By Application: Residential, Commercial, Utility
Asia-Pacific was the largest region in the thin film solar cell market in 2023.
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, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the
report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7872&type=smp
Major Driver Impacting Market Growth
The rise in electricity demand in remote areas is expected to propel the growth
of the thin film solar cell market. Electricity demand is the measurement rate
at which a home or business consumes electricity over a given time period. The
rise in electricity demand is being aided by thin-film solar panels, which
convert solar energy to electrical energy using the photovoltaic effect and can
be used to power pumps, traffic lights, and street lights, among other things.
For instance, in February 2022, according to a research report by the Energy
for Sustainable Development, an India-based journal for decision-makers, there
is a 38% annual increase in Nepal's rural electrified zones, while in 2030,
electricity demand in the West African region is estimated to be 5 times more.
Therefore, the rise in electricity demand in remote areas is driving the growth
of the thin film solar cell market.
Key Industry Players
Major companies operating in the thin film solar cell market report 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, Sunq Innovative Expert Business Solutions
Private Limited, Trony Solar Holdings Co. Ltd., SolarPower Systems Inc., Solar
Frontier K.K., NanoPV Solar Inc., Oxford Photovoltaics Ltd., Hankey Asia Ltd.,
Global Solar Inc., Xunlight Kunshan Co. Ltd., Solara GmbH, Toledo Solar Inc.,
Flisom Ltd., Calyxo Inc., Topray Solar Co. ltd., ENN Energy Holdings Ltd.,
Stion Corp., Sharp Corp., Würth Solar GmbH & Co., Kaneka Corp., NexPower
Technology Corp., Bangkok Solar Power Co. Ltd., 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.
The thin film solar cell market report table of contents includes:
1. Executive Summary
2. Thin
Film Solar Cell Market Characteristics
3. Thin
Film Solar Cell Market Trends And Strategies
4. Thin
Film Solar Cell Market - Macro Economic Scenario
5. Global
Thin Film Solar Cell Market Size and Growth
.
31. Global Thin Film Solar Cell Market Competitive Benchmarking
32. Global
Thin Film Solar Cell Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Thin Film Solar Cell Market
34. Thin
Film Solar Cell Market Future Outlook and Potential Analysis
35.
Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model:
https://www.thebusinessresearchcompany.com/global-market-model
No comments:
Post a Comment