The
latest Thin Film Solar Cells
Market
analysis and research report talks about major applications of Thin Film Solar
Cells Market, growth of these segments as well as offers insights into
companies active in this industry and their information.
With
a great deal of interest to improve the quality of solar power system due to
fossil fuels rigorously getting drained, thin film solar cells market is
speedily evolving with every passing year. Strong concerns regarding global
environmental issues has brought a dramatic growth in the clean energy market,
with solar energy at the pinnacle. Furthermore, the surging demand for
electricity specially from off grid areas along with reducing renewable energy
tariff subjected to the increase in competitive bidding will heighten the
market demand in the coming timeframe.
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Technological
progressions along with a large number of promising energy conservation
programs that have been initiated worldwide have resulted in a decline in
overall component cost. These adopted initiations will act as a catalyzer for
the overall growth of the market. In this regard, India is already a step
ahead. In 2016, the country has launched a target of deploying 20 GW grid
connected solar power projects in half a decade, which will finally result in
cost reduction of solar power generation of the country.
In
2015, solar control window films market from the construction application
segment generated The solar technology is witnessing a continuous evolution
with technological progression. Three types of thin film cells that are
predominant in the market are cadmium telluride thin film cells, amorphous
silicon cells, and copper indium gallium diselenide (CIGD)solar cells.
Amorphous silicon thin film solar cells market accounted for more than 13% of
the total volume in 2015, and is expected to observe a surge due to increasing
demand for solar wristwatches, garden lights, and electronic calculators.
Cadmium telluride solar cells are largely adopted for generating terrestrial
solar power in residential sector owing to the product’s cost effectiveness and
high-level conversion efficiency. This second-generation thin film solar cells
industry is estimated to grow stupendously at a CAGR of 17% over the period of
2016-2024. Copper indium gallium
diselenide based film solar cells are the top performing cells till date, with
an upper hand due to absorption of more sunlight than the other products. CIGD
thin film solar cells market is anticipated to generate a revenue of USD 8
billion by 2024.
Low
toxicity, high efficiency, and comparatively affordable manufacturing cost are
the leading factors driving thin film solar cells industry to penetrate a wide
array of sectors. Thin film solar cells market is gaining a huge popularity
across residential, utility and commercial sectors owing to its flexibility and
light weight. Thin film solar cells industry from commercial application have
collected a huge revenue of USD 1 billion in 2015, and is anticipated to be one
of the prominent sectors driving the application landscape in the coming
timeframe. Growing consumer claim for uninterrupted power supply is redirecting
the focus toward sustainable and reliable energy sources, which in turn is
influencing the market outlook. Driven by the handsome number of government
solar projects that are continuously being launched, thin film solar cells
market share from utility sector is slated to exceed a power capacity of 60 GW
over the coming seven years.
Geographies that are anticipated to influence thin film
solar cells market over 2016-2024 are listed below:
- US is one of the
prominent regions which is actively involved in the market. Positive outlook
toward relying more on renewable energy sources along with increasing
installation of photo voltaic models is fueling U.S. thin film solar cells
industry.
- Asia Pacific is
expected to hold a considerable industry share in terms of revenue with
China prominently driving the regional demand. China thin film solar cells
industry accounted for more than 40% of the regional market in 2015 and
will register a massive double digit growth rate of 15% over the forecast
span. The growth can be attributed to the huge investment in the PV
projects in China.
- UK thin film solar
cells market covered more than 25% of the market share in 2015 and will
cross 4GW power generation capacity by 2024, owing to the favorable
government initiatives pertaining to sustainable energy production.
Market players are concentrating more on
research activities to enhance the product quality along with improving the
energy efficiency. However, lack of proper knowhow of the ongoing financial
incentives related to non-conventional energy sources may act as a deterrent in
the growth path of the industry. Prominent participants of thin film solar
cells market include Hankey Asia Ltd., Ascent Technologies Inc., Hankey Asia
Ltd., Global Solar, Inc., and First Solar.
Report Content
1.1 Research
Methodology
1.1.1 Initial
data exploration
1.1.2 Statistical
model and forecast
1.1.3 Industry
insights and validation
1.1.4 Research
scope and assumptions
1.2 Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2 Executive Summary
2.1 Thin film solar
cells industry 3600 synopsis, 2013 - 2024
2.1.1 Current
business environment
2.1.2 Component
trends
2.1.3 Connectivity
trends
2.1.4 Application
trends
2.1.5 Regional
trends
Chapter 3 Thin Film Solar Cells
Industry Insights
3.1 Industry
segmentation
3.2 Industry Size and
forecast, 2013 – 2024
3.3 Thin film solar
cells industry ecosystem analysis
3.4 Vendor matrix
3.5 Innovation &
sustainability
3.6 Regulatory
framework
3.6.1 U.S.
3.6.2 India
3.6.3 Europe
3.6.4 China
3.7 Price trend
analysis
3.8 Thin film solar
cells industry impact forces
3.8.1 Growth
drivers
3.8.1.1 Growing demand for
sustainable energy
3.8.1.2 Decreasing solar
component price
3.8.1.3 Favorable government
initiatives
3.8.1.4 stringent emission control
norms
3.8.2 Industry
pitfalls & challenges
3.8.2.1 Lack of awareness
3.9 Growth potential
analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2015
3.11.1 Strategy
dashboard
3.12 PESTEL analysis
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