Global Cadmium Telluride Solar Cell (CDTE) Market, By Source (Tellurium, Cadmium), Application (Solar PV, Optical Lenses and Windows, Electro-Optic Modulator, Nuclear Spectroscopy, Infrared Optical Material), End User (Residential, Commercial, Industrial and Utility) – Industry Trends and Forecast to 2029.
Cadmium Telluride Solar Cell (CDTE) Market Analysis and Size
Cadmium telluride solar cell (CDTE) are the second most common technology in the globe after crystalline silicon, currently representing approx. 5% of the global market. Cadmium telluride solar cell (CDTE) thin-film solar cells can be manufactured inexpensively and quickly. It is providing a substitute to conventional silicon-based technologies. The record efficiency for a laboratory Cadmium telluride solar cell (CDTE) is about 22.1% by First Solar.
Data Bridge Market Research analyses that the cadmium telluride solar cell (CDTE) market was valued at USD 729.20 million in 2021 and is expected to reach USD 18,18.41 million by 2029, registering a CAGR of 12.10% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Cadmium Telluride Solar Cell (CDTE) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Source (Tellurium, Cadmium), Application (Solar PV, Optical Lenses and Windows, Electro-Optic Modulator, Nuclear Spectroscopy, Infrared Optical Material), End User (Residential, Commercial, Industrial and Utility)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Greatcell (Australia), Exeger Operations AB (Sweden), Fujikura Europe Ltd. (U.K.), G24 Power Ltd. (U.K.), Konica Minolta Sensing Europe B.V. (Netherlands), Merck KGaA (Germany), Oxford PV (U.K.), Peccell Technologies, Inc. (Japan), Sharp Corporation (Japan), Solaronix SA (Switzerland), Sony Corporation (Japan), Ricoh (Japan), First Solar. (US), SunPower Corporation (U.S.), Suniva Inc (U.S.), Tata Power Solar Systems Ltd. (India), SHARP CORPORATION (Japan), ALPS Technology Inc. (U.S.), Solaris Technology Industry, Inc. (India), GREEN BRILLIANCE RENEWABLE ENERGY LLP (India), Trina Solar (China), Canadian Solar. (Canada),
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Market Opportunities
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Market Definition
Cadmium telluride solar cells (CDTE) are based on the thin film layer of cadmium telluride (CDTE) which is used as semiconductor to convert absorbed sunlight into electricity. In cadmium telluride solar cells (CDTE), the lower electrode is formed by layer of copper-doped carbon paste whereas the upper layer is formed by cadmium-based stannous oxide (Cd2SnO4) or tin oxide (SnO2).
Cadmium Telluride Solar Cell (CDTE) Market Dynamics
Drivers
- Increase in Awareness regarding Adverse impact on Environmental
The increase in awareness among the market players and buyers regarding the adverse effect of other solar cell on environmental increase the demand of cadmium telluride solar cell (CDTE) because it is renewable source-based power. Also, the rise in the dependence on unconventional energy sources has a positive impact on the market, which are expected to drive the market's growth.
- High adsorption property
The high absorption property of cadmium telluride solar cell (CDTE) are expected to drive the demand of the cadmium telluride solar cell (CDTE) in the market. Cadmium telluride is a direct-bandgap material with bandgap energy from 1.4 to 1.5 (eV), it is nearly optimal for changing sunlight energy into electricity using a single junction.
- Increase in the installation of Solar System
The rise in the number of installation of solar system further influence the growth of the cadmium telluride solar cell (CDTE) market. The rise in demand of cadmium telluride solar cell (CDTE) due to rising need to decline the prices of solar cells modules are expected to drives the growth of the market.
Moreover, change in lifestyle, surge in investments, rapid urbanization and augmented consumer spending positively impact the cadmium telluride solar cell (CDTE) market.
Opportunities
- Technological advancement
The recent technical advancements reducing the production cost of the cadmium telluride solar cell (CDTE) which extend the profitable opportunities to the major market players in forthcoming period. Furthermore, improvement in infrastructure development activities will further expand the growth of the cadmium telluride solar cell (CDTE) market.
Moreover, increasing the number of strategic collaborations and emerging new markets will act as market drivers and increase the beneficial opportunities for the market's growth rate.
Restraints/ Challenges
- Environmental concern
However, Due to the negative impact of cadmium on the environment, the government has imposed some stringent regulations which are expected to obstruct the demand of the cadmium telluride solar cell (CDTE) in the market.
- Lower productivity
The lower productivity of the cadmium telluride solar cell (CDTE) compared to other alternatives might be hinder the growth of the cadmium telluride solar panel market globally during the forecast period of 2022-2029.
This cadmium telluride solar cell (CDTE) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cadmium telluride solar cell (CDTE) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Cadmium Telluride Solar Cell (CDTE) Market
The COVID-19 negatively impacted the cadmium telluride solar cell (CDTE) market due to the strict social distancing and lockdowns to contain the corona virus. The partial shutdown of the business, economic uncertainty and low consumer confidence have impacted the demand for cadmium telluride solar cell (CDTE) technology. The supply chain was hindered during this pandemic along with delayed logistics activities. However, the cadmium telluride solar cell (CDTE) market is anticipated to recover its pace during the post pandemic scenario.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Cadmium Telluride Solar Cell (CDTE) Market Scope
The cadmium telluride solar cell (CDTE) market is segmented on the basis of source, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Source
- Tellurium
- Cadmium
Application
- Solar PV
- Optical Lenses and Windows
- Electro-Optic Modulator
- Nuclear Spectroscopy
- Infrared Optical Material
End User
- Residential
- Commercial
- Industrial and Utility
Cadmium Telluride Solar Cell (CDTE) Market Regional Analysis/Insights
The cadmium telluride solar cell (CDTE) market is analysed and market size insights and trends are provided by country, source, application and end user as referenced above.
The countries covered in the cadmium telluride solar cell (CDTE) market report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the cadmium telluride solar cell (CDTE) market in terms of market share. This is due to their expanding solar energy industry along with rising usages of infrared optical material.
Asia-Pacific is projected to be the fastest developing region due to due to the adoption of advanced technology in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cadmium Telluride Solar Cell (CDTE) Market Share Analysis
The cadmium telluride solar cell (CDTE) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cadmium telluride solar cell (CDTE) market.
Some of the major players operating in the cadmium telluride solar cell (CDTE) market are:
- Greatcell (Australia)
- Exeger Operations AB (Sweden)
- Fujikura Europe Ltd. (U.K.)
- G24 Power Ltd. (U.K.)
- Konica Minolta Sensing Europe B.V. (Netherlands)
- Merck KGaA (Germany)
- Oxford PV (U.K.)
- Peccell Technologies, Inc. (Japan)
- Sharp Corporation (Japan)
- Solaronix SA (Switzerland)
- Sony Corporation (Japan)
- Ricoh (Japan)
- First Solar. (US)
- SunPower Corporation (U.S.)
- Suniva Inc (U.S.)
- Tata Power Solar Systems Ltd. (India)
- SHARP CORPORATION (Japan)
- ALPS Technology Inc. (U.S.)
- Solaris Technology Industry, Inc. (India)
- GREEN BRILLIANCE RENEWABLE ENERGY LLP (India)
- Trina Solar (China)
- Canadian Solar. (Canada),
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