Thin Film Solar Panel Market

Global Thin Film Solar Panel Market Analysis and Opportunity Assessment by Type, Technology, Application, Region, and Country – Forecast 2022 – 2030

The market is expected to generate an incremental $ opportunity of US$ 76.7 Bn between 2022 and 2030

Category: Clean Energy & Power

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ID: CVC-00285

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Format: PDF+Excel Dataset

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Published Date: October 2022

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Pages: 300

Thin Film Solar Panel Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Thin Film Solar Panel Market was worth US$ 14.0 Bn and is expected to grow at a CAGR of 23.6% over the forecast period. The market is expected to hit US$ 94.0 Bn by 2030 end.

Thin-film solar cells are a new type of solar cell made up of numerous thin-film layers of photovoltaic materials. Thin-film photovoltaic cells (TFPC) are another name for thin-film solar cells (TFSC) (TFPV).

The increased use of solar energy by individuals in several developed and developing countries is expected to boost sales growth in the worldwide thin-film solar cell market from 2022 to 2030.

Market Dynamic

RISING ELECTRICITY PRICES DRIVE THE MARKET GROWTH

The global thin film solar cell market is growing due to rising electricity prices, decreased reliance on foreign oil and fossil fuels, and the storage and later use of power.

Increased demand for power in remote locations and an increase in clean and renewable energy sources provide new prospects in the future.

With the increased use of thin film PV cells as isolated power sources in consumer electronics, military and space applications, and so on, the market for grid-connected PV cells is also expanding at a reasonable rate.

LARGE AREA REQUIREMENTS HAMPER THE MARKET

Thin-film panels require a larger area than alternative types of solar PV modules. The size of the system negatively affects the cost-effectiveness of the thin-film PV module systems, as the panel output losses offset less installation cost due to lower efficiencies. This factor, in turn, is expected to hinder the market’s growth.

Thin Film Solar Panel Market

Market Segments Covered in Report

By Type:

  • Cadmium Telluride
  • Amorphous Thin-film Silicon
  • Copper Indium Gallium Selenide
  • Microcrystalline Tandem Cells
  • Thin-film Polycrystalline Silicon
  • Others

By Technology:

  • On-grid
  • Off-grid

By Application:

  • Residential
  • Commercial
  • Utility

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is it predicted that cadmium telluride thin film solar panels would have the greatest CAGR?

The cadmium telluride segment dominated the global thin-film solar cell market in 2021 and is projected to remain the fastest-growing segment during the forecast period. It is attributed to its nontoxic nature, absorbs a wide range of the light spectrum, and performs well in low light but loses efficiency quickly. In addition, it has low manufacturing and maintenance costs.

Why is it projected that the On-grid sector would grow quickly throughout the projection period?

On-grid segment dominated the global thin-film solar cell market in 2020 and is projected to remain the fastest-growing segment during the forecast period. It is attributed to the growing electricity transmission and distribution network that integrating electricity produced by renewable sources into the grid will propel the demand during the forecast period.

Why is the Utility sector anticipated to grow rapidly throughout the projection period?

The utility segment dominated the global thin-film solar cell market in 2021 and is projected to remain the fastest growing segment during the forecast period. It is attributed to the rising installation of large-scale projects and increasing research and development expenditure to reduce maintenance and installation costs, increasing market demand.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • The Asia Pacific thin-film solar cell market is expected to continue its leading position throughout the projected period due to its large customer base and rising industrialization and urbanization.
  • China is one of the world’s major solar PV markets, accounting for over half of worldwide solar power consumption in 2021. In China, thin-film solar PVs are mostly employed in utility-scale installations.

Competition Analysis

The worldwide thin-film solar cell industry appears to be somewhat fragmented. The existence of several global and local manufacturers indicates that the rivalry landscape in the thin-film solar cell industry is quite fierce. To establish a dominant market position, companies in this industry use various organic and inorganic methods such as mergers, acquisitions, partnerships, and collaborations.

Some of the key developments that have taken place in the Thin Film Solar Panel Market include:

  • In 2018, CdTe produced power at a high cost that was less than or equivalent to traditional fossil-fuel energy sources.
  • In July 2018, Avanic announced reopening its CIGS thin-film PV production facility in South Korea’s Chungbunk province. The expansion is intended to boost the company’s growth in the region.

A list of some of the key suppliers present in the market are:

  • Filsom AG
  • Ascent Solar Technologies
  • Hanergy mobile energy
  • First Solar
  • Miasole
  • Kaneka Corporation
  • Shunfeng International Clean Energy
  • Mitsubishi Heavy Industries

Global Thin Film Solar Panel Market 2022-2030: Report Coverage and Highlights

  • Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, and technological trends and changes in consumer behavior
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Segment-wise, country-wise, and region-wise market analysis
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Key product innovations and regulatory framework
  • Covid-19 impact on the market and how to navigate
  • Strategic market analysis and recommendations on crucial winning strategies
Research ScopeDetails
Forecast period2022-2030
Historical data available for2017-2021
Market analysisUSD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030
Key regions coveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries coveredUS, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments coveredBy Type, Technology, Application, and Region
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request

Frequently Asked Questions

In the forecast period between 2022 and 2030, the market is expected to grow at a CAGR of 23.6%.

The increased use of solar energy by individuals in several developed and developing countries are expected to boost sales growth in the worldwide thin-film solar cell market from 2021 to 2030.

Major global Thin Film Solar Panel Market players are Filsom AG, Ascent Solar Technologies, Hanergy mobile energy, First Solar, Miasole, Kaneka corporation, Shunfeng International Clean Energy, and Mitsubishi Heavy Industries

The market is restrained to some extent by the high upfront cost of solar energy and the poor energy conversion rate.

The Asia Pacific region is expected to account for the largest market revenue share in the Global Thin Film Solar Panel market.

  1. Executive Summary
    • Global Market Snapshot
    • Key Success Factors
    • Strategic Analysis and Recommendations
  2. Market Overview
    • Market Taxonomy
    • Market Definitions
  3. Research Methodology
    • Preliminary Investigation & Research Design
    • Secondary Research & Primary Research
    • Data Analysis & Econometric Modelling
    • Expert Data Validation
  4. Key Emerging Trends Analysis
    • Supply-Side Trends
    • Demand-Side Trends
  5. Global Thin Film Solar Panel Market Value (US$ Mn) and Volume (Tons) Analysis
    • Global Market Value (US$ Mn) Analysis, 2017 – 2030
    • Incremental $ Opportunity Index, 2022-2030
    • Global Market Volume (Tons) Analysis, 2017 – 2030
  6. Global Thin Film Solar Panel Market Pricing Analysis
    • Regional Level Pricing Analysis and Forecast
      • Manufacturers Level Pricing
      • Distributor Level Pricing
    • Global Pricing Analysis Benchmark
    • Cost Breakdown Analysis
  7. Cross-Sectional Analysis
    • Cross Analysis of Application W.R.T. Product Type
  8. Supply Vs. Demand Analysis
    • Regional Supply Vs. Demand Gap Assessment
    • Top Producing Countries Analysis
  9. Market Background
    • Macroeconomic Factors
    • Forecast Factors
    • Market Dynamics
      • Driver
      • Restraint
      • Opportunity
    • Supply Chain Analysis
      • List Raw Material Suppliers
      • List of Manufacturers
      • List of Distributors
      • List of End-Users
      • Average Profitability Margin Analysis
    • Covid-19 Impact Assessment
      • Economy/Cluster Projections
      • Covid-19 Economic Assessment
      • Potential Impact on Target Market
      • Recovery Scenario
    • Regulatory Framework
      • Regulations of Key Countries
      • Potential Impact of Regulations
    • Porter’s Five Forces Analysis
    • Technology Landscape
  10. Global Thin Film Solar Panel Market 2017 – 2030 By Type
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2030) By Type [Value (US$ Mn) and Volume (Tons) Analysis]
      • Cadmium Telluride
      • Amorphous Thin-film Silicon
      • Copper Indium Gallium Selenide
      • Microcrystalline Tandem Cells
      • Thin-film Polycrystalline Silicon
      • Others
    • Market Attractiveness Analysis by Type
  11. Global Thin Film Solar Panel Market 2017 – 2030 by Technology
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2030) By Technology [Value (US$ Mn) and Volume (Tons) Analysis]
      • On-grid
      • Off-grid
    • Market Attractiveness Analysis by Technology
  12. Global Thin Film Solar Panel Market 2017 – 2030 by Application
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2030) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
      • Residential
      • Commercial
      • Utility
    • Market Attractiveness Analysis by Application
  13. Global Thin Film Solar Panel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2030 by Region
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2030) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Middle East
      • Africa
    • Market Attractiveness Analysis by Region
  14. North America Thin Film Solar Panel Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2030) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • U.S.
        • Canada
      • By Type
      • By Technology
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Technology
      • By Application
  1. Latin America Thin Film Solar Panel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2030
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2030) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
      • By Type
      • By Technology
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Technology
      • By Application
  1. Europe Thin Film Solar Panel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2030
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2030) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Germany
        • Italy
        • France
        • UK
        • Spain
        • Netherlands
        • Norway
        • Russia
        • Rest of Europe
      • By Type
      • By Technology
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Technology
      • By Application
  1. Asia-Pacific Thin Film Solar Panel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2030
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2030) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • China
        • Japan
        • South Korea
        • India
        • Indonesia
        • Thailand
        • Vietnam
        • Australia & New Zealand
        • Rest of Asia-Pacific
      • By Type
      • By Technology
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Technology
      • By Application
  1. Middle East Thin Film Solar Panel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2030
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2030) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Saudi Arabia
        • Turkey
        • U.A.E.
        • Rest of the Middle East
      • By Type
      • By Technology
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Technology
      • By Application
  1. Africa Thin Film Solar Panel Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2030
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2030) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • South Africa
        • Nigeria
        • Egypt
        • Rest of Africa
      • By Type
      • By Technology
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Technology
      • By Application
  2. Competition Analysis
    • Tier Structure Breakdown
    • Market Share Analysis
    • Production Capacity Analysis
    • Company Footprint Analysis
      • Product Footprint of Players
      • Regional Footprint of Players
      • Channel Footprint of Players
    • ChemView’s Competitor Positioning Matrix
  3. Company Profiles
    • Filsom AG
      • Company Overview
      • Product & Financial Portfolio
      • Manufacturing Facilities
      • Recent Developments
      • SWOT Analysis
      • Strategy Overview
    • Ascent Solar Technologies
    • Hanergy mobile energy
    • First Solar
    • Miasole
    • Kaneka corporation
    • Shunfeng International Clean Energy
    • Mitsubishi Heavy Industries
  4. Assumptions and Acronyms

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