Thin Film Solar Cells Market to grow at 16% CAGR from 2016 to 2024 - PowerPoint PPT Presentation

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Thin Film Solar Cells Market to grow at 16% CAGR from 2016 to 2024


More Information @ Residential thin film solar cells market was valued over 2 GW in 2015. Low maintenance cost coupled with increasing rooftop installation will complement the industry growth. Utility applications is expected to exceed 60GW by 2024 subject to ongoing government projects to meet their renewable target. – PowerPoint PPT presentation

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Title: Thin Film Solar Cells Market to grow at 16% CAGR from 2016 to 2024

Thin Film Solar Cells Market to grow at 16 CAGR
from 2016 to 2024 Global Market Insights Inc.
Industry Overview
  • 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
  • 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

  • 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 products 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

  • 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.

  • 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.
  • 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.

U.S. Thin Film Solar Cell Market size, by
component 2013-2024 (MW)


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