Thin Film Solar Cell Market Scope
A thin-film solar cell is a second-generation solar cell designed to convert light energy into electrical energy and it composed of micron-thick photon-absorbing material layers deposited over a flexible substrate. It is commercially used in several technologies including cadmium telluride (CdTe), copper indium gallium diselenide (CIGS), and amorphous thin-film silicon (a-Si, TF-Si). It has wide applications because of its relatively low cost and its efficiency in producing electricity. Thin film technology reduces the amount of active material in a cell.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Hankey Asia Ltd. (Hong Kong), Kaneka Corporation (Japan), Oxford Photovoltaics Limited (United Kingdom), Xunlight Kunshan Co. Ltd. (China), Ascent Solar Technologies Inc. (United States), Miasole (United States), Mitsubishi Electric Corporation (Japan), Global Solar Energy (United States), Trony Solar Holdings Co. Ltd. (China) and Sharp Corporation (Japanese) |
CAGR | 7.5% |
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Thin Film Solar Cell market throughout the predicted period.
Hankey Asia Ltd. (Hong Kong), Kaneka Corporation (Japan), Oxford Photovoltaics Limited (United Kingdom), Xunlight Kunshan Co. Ltd. (China), Ascent Solar Technologies Inc. (United States), Miasole (United States), Mitsubishi Electric Corporation (Japan), Global Solar Energy (United States), Trony Solar Holdings Co. Ltd. (China) and Sharp Corporation (Japanese) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are SoloPower Systems, Inc. (United States) and Solar Frontier K.K (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Thin Film Solar Cell market by Type , by Application (Residential, Commercial and Others) and Region with country level break-up.
On the basis of geography, the market of Thin Film Solar Cell has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May 2023, Frist solar has acired has Evolar AB a Sweden based company focused on perovskite technology for an initial payment of around U38 million.
In May 2018, Hanergy, a pioneering multinational clean energy company, announced the launch of its new product "Humbrella," a thin-film solar powered umbrella providing clean, free and consistent electricity to people in energy-scarce areas of the world.
Influencing Trend:
Growing Demand for Renewable Energy Sources
Market Growth Drivers:
Increased Global Demand for Electricity and Rise in the Industrialization across the Globe
Challenges:
Lack of Awareness about Solar Cell Applications among Developing Countries
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Growing Demand for Uninterrupted Power Supply and Technological Advancements in the Solar Cell Technology
Key Target Audience
Thin Film Solar Cell Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user