Global Thin-Film Solar Cell Market: Size, Trends and Forecasts (2020-2024)
- Report Description Table of Contents
Scope of the Report
The report titled “Global Thin-Film Solar Cell Market: Size, Trends and Forecasts (2020-2024)”, provides an in depth analysis of the global thin-film solar cell market by value, by technology type, by end user, by region, etc. The report also provides a regional analysis of the thin-film solar cell market, including the following regions: Europe (UK & Rest of Europe), North America, Asia Pacific, and ROW. The report also provides a detailed analysis of the UK thin-film solar cell market by value and by end user.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global thin-film solar cell market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global thin-film solar cell market is fragmented with many market players operating worldwide. Some thin-film solar cell market players operate on a local level while other players operate on a regional and global level. Further, key players of the thin-film solar cell market are First Solar, Inc., Ascent solar Technologies, Inc., Oxford Photovoltaics Limited, Showa Shell Sekiyu K.K. (Solar Frontier K.K.) are also profiled with their financial information and respective business strategies.
- North America
- Asia Pacific
- First Solar, Inc.
- Ascent solar Technologies, Inc.
- Oxford Photovoltaics Limited
- Showa Shell Sekiyu K.K. (Solar Frontier K.K.)
Solar cell, also called photovoltaic cell, is a semi-conductor device that converts the light energy into the electrical energy by using the principle of photovoltaic (PV) effect. Solar cells can be broadly categorized into two type of technologies: Crystalline Si based Technology and Thin-Film based Technology.
The thin-film solar cells are referred to as second generation of solar cells, made by using several light-absorbing layers of photovoltaic materials. The thickness of thin-film layers can be about 300-350 times smaller than that of a standard silicon panel. The thin-film solar cells are considered flexible, easy to handle, lightweight, and cheaper to produce. They can be installed easily. The thin-film solar cells contain very less quantity of silicon, therefore the emission caused during their production is very low.
Thin-film solar cells have gained popularity in different industrial verticals. The major applications of thin-film solar cells are: institutional and commercial buildings with large rooftops, solar farms, forest areas, rooftop of buses, and large-sized water tanks to supply power for pumping water.
Thin-film solar cells have a long history with continuous technological developments. The thin-film solar cell market can be segmented on the basis of technology type (Cadmium Telluride (CdTe), Copper Indium Gallium Diselenide (CIGS), and Amorphous Silicon (A-Si)); installation (On-Grid, and Off-Grid); and End User (Residential, Commercial, and Utility).
The global thin-film solar cell market has increased significantly during the years 2017-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The thin-film solar cell market is expected to increase due to increasing demand for electricity, rising solar photovoltaic (PV) installed capacity, declining solar prices, growing use of renewable energy, integration of thin-film solar cells in electric vehicles, technological advancements associated with the thin-film solar cells, etc. Yet the market faces some challenges such as high installation cost, introduction of third generation solar cells, etc.