Global Thin film solar cell (tfsc) Market, By Type (Cadmium Telluride, Copper Indium Gallium Diselenide, Amorphous Thin-Film Silicon), Installation (On-Grid, Off-Grid), End User (Residential, Commercial, Utility) - Industry Trends and Forecast to 2029.
Thin Film Solar Cell (tfsc) Market Analysis and Size
Thin-film solar cells came in to the picture in early 1970s in the U.S. The continuously advanced technology boosted the thin-film photovoltaic market growth in the early 21st century at an unprecedented rate and continued to grow during forecast period. Numerous thin-film solar cells are broadly used due to their relatively low cost and high efficiency in producing electricity.
Data Bridge Market Research analyses that the thin film solar cell (tfsc) market was valued at USD 248,390.20 million in 2021 and is expected to reach USD 429,981.95 million by 2029, registering a CAGR of 7.10% 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.
Thin Film Solar Cell (tfsc) 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 million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Cadmium Telluride, Copper Indium Gallium Diselenide, Amorphous Thin-Film Silicon), Installation (On-Grid, Off-Grid), End User (Residential, Commercial, 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
The thin-film solar cell is a type of device intended to convert light energy into electrical energy. It is composed of micron-thick photon which is absorbing material layers deposited over a flexible substrate. These solar cells are assembled into solar panels as part of a photovoltaic system to produce solar power from sunlight.
Thin Film Solar Cell (tfsc) Market Dynamics
Drivers
- Increase in Awareness regarding Adverse impact on Environment
The increase in awareness among the market players and buyers regarding the adverse effect of other solar cell on environmental increase the demand of thin film solar cell (tfsc) because it is multiple thin-film layers of photo voltaic materials. Also, rise in the dependence on this sources of energy has a positive impact on the market which are expected to drive the growth of the market.
- Increase in the installation of Solar System
The rise in the number of installation of solar system further influence the growth of the thin film solar cell (tfsc) market. The rise in demand for thin film solar cell (tfsc) due to rising need to decline the prices of solar cell modules are expected to drive the market's growth.
Moreover, change in lifestyle, surge in investments, rapid urbanization and augmented consumer spending positively impact the thin film solar cell (tfsc) market.
Opportunities
- Technological advancement
The recent technical advancements reducing the production cost of the thin film solar cell (tfsc) extend the profitable opportunities to the major market players in the forthcoming period. Furthermore, improvement in infrastructure development activities will further expand the growth of the thin film solar cell (tfsc) 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 thin film solar cell on the environment, the government has imposed some stringent regulations which are expected to obstruct the demand of the thin film solar cell (tfsc) in the market.
- Lower productivity
The lower productivity of the thin film solar cell (tfsc) compared to other alternatives might be hinder the growth of the thin solar cell market globally during the forecast period of 2022-2029.
This thin film solar cell (tfsc) 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 thin film solar cell (tfsc) 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 Thin Film Solar Cell (tfsc) Market
The COVID-19 negatively impacted the thin film solar cell (tfsc) market due to the strict social distancing and lockdowns to contain the widespread corona virus. The partial shutdown of the business, economic uncertainty and low consumer confidence have impacted the demand for thin film solar cell (tfsc) technology. The supply chain was hindered during this pandemic along with delayed logistics activities. However, the thin film solar cell (tfsc) 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 Thin Film Solar Cell (tfsc) Market Scope
The thin film solar cell (tfsc) market is segmented on the basis of type, Installation 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.
Type
- Cadmium Telluride
- Copper Indium Gallium Diselenide
- Amorphous Thin-Film Silicon
Installation
- On-Grid
- Off-Grid
End User
- Residential
- Commercial
- Industrial and Utility
Thin Film Solar Cell (Tfsc) Market Regional Analysis/Insights
The thin film solar cell (tfsc) market is analysed and market size insights and trends are provided by country, type, installation and end user as referenced above.
The countries covered in the thin film solar cell (tfsc) 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
Europe dominates the thin film solar cell (tfsc) market in terms of market share during the forecast period. This is due to the growing preferences towards renewable and clean solar energy in this region.
South America is projected to be the fastest developing region due to increasing investment in solar sector in Brazil along with increasing occurrences of solar radiation 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 Thin Film Solar Cell (Tfsc) Market Share Analysis
The thin film solar cell (tfsc) 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 thin film solar cell (tfsc) market.
Some of the major players operating in the thin film solar cell (tfsc) 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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