Product Code: 1092
Thin Film Solar Cells Market is set to witness robust growth through 2023-2032, primarily owing to the favorable state-backed initiatives and rising investments in various utility-scale projects. For instance, the European Bank for Reconstruction and Development announced an investment of USD 21.4 million in the construction of utility-grade solar plant in Azerbaijan. The capital will be used to build a 230-MW photovoltaic solar power plant near the Alat settlement in the district.
Overall, the thin film solar cells market is segmented in terms of component, connectivity, application, and region.
Based on the component, the copper indium gallium diselenide segment is set to grow significantly through 2032. The segmental growth can be accredited to the increasing installation of large modules due to the growing demand for better efficiency and effective product configurations. Moreover, ongoing R&D initiatives are speculated to support the market demand in the coming years. As per credible sources, in 2022, Swiss Federal Laboratories for Material Science and Technology researchers announced developing a new low-temperature production process for bifacial thin-film solar cells based on CIGS. The innovation recorded yields of 19.8% for front lighting and 10.9% for rear lighting.
In terms of connectivity, the market is likely to be characterized by the off-grid segment, which will grow noticeably by 2032. Rising demand for reliable and constant power supply by various developing countries will primarily drive the demand. Besides, the growing amalgamation of decentralized electricity generation sources in remote areas along with regulatory measures to augment the electrification index will further propel the industry growth.
In the context of the application, the residential segment captured more than 6.5% market share in 2022. The segmental expansion is accredited to the increasing population and rising trend of solar PV modules deployment in residential spaces.
Furthermore, changing lifestyles along with growing awareness toward climate change will also foster the growth of residential applications. As per a survey conducted in 2019 and 2020 by the Pew Research Center, a median of 70% of the total respondents agreed that climate change has indeed affected their geographical location. Besides, in another survey that was carried out across 14 nations, the majority of the respondents agreed that climate change is one of the major threats in their respective countries.
In the regional context, the Asia Pacific thin film solar cells market is set to witness rapid growth through 2032. The regional market expansion will be driven by rapid population growth in emerging economies. Besides, various governments in the region are focusing on their set solar PV targets, which along with the monetary benefits of solar-plus-storage systems will add impetus to the market progression. For instance, a PV auction in China in July 2020 revealed that there is a clear shift to larger utility-scale projects, and on average, the prices also declined by 18%.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope and definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Thin film solar cells industry 360 degree synopsis, 2019 - 2032
- 2.1.1 Business trends
- 2.1.2 Component trends
- 2.1.3 Connectivity trends
- 2.1.4 Application trends
- 2.1.5 Regional trends
Chapter 3 Thin Film Solar Cells Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Price trend analysis (USD/MW)
- 3.3 Regulatory Landscape
- 3.3.1 The National Electrical Code
- 3.3.2 General Standards
- 3.3.2.1 SEMI
- 3.3.2.2 Solar ABCs Activities with IEEE
- 3.3.2.3 ASTM International
- 3.3.2.4 Newly Proposed ASTM PV Standards:
- 3.3.2.5 IEEE Std 1547-2018 (Revision of IEEE Std 1547-2003)
- 3.3.2.6 IEEE Std 1547.1-2020 (Revision of IEEE Std 1547.1-2005)
- 3.3.2.7 IEEE Std 1547.2-2008 (Revision in Progress)
- 3.3.3 North America
- 3.3.3.1 U.S.
- 3.3.3.1.1 Solar Investment Tax Credit
- 3.3.3.1.2 Clean energy standard (2021)
- 3.3.3.1.3 State renewable portfolio standard and goals
- 3.3.3.2 Canada
- 3.3.3.3 Mexico
- 3.3.4 Europe
- 3.3.4.1 UK
- 3.3.4.1.1 2009/28/EC Renewable Energy Directive
- 3.3.4.1.2 The UK's National Energy Efficiency Action Plan
- 3.3.4.2 France
- 3.3.4.3 Germany
- 3.3.4.4 Spain
- 3.3.4.5 Netherlands
- 3.3.4.5.1 SDE+ and SDE++ support scheme
- 3.3.4.6 Sweden
- 3.3.4.6.1 The 2016 Energy Agreement
- 3.3.5 Asia Pacific
- 3.3.5.1 China
- 3.3.5.2 Japan
- 3.3.5.3 India
- 3.3.5.3.1 Central Financial Assistance (CFA) schemes
- 3.3.5.4 Australia
- 3.3.5.5 South Korea
- 3.3.6 Middle East & Africa
- 3.3.6.1 UAE
- 3.3.6.1.1 The Renewable Energy Law Review: Egypt
- 3.3.6.2 South Africa
- 3.3.6.2.1 Integrated Resource Plan for Electricity (IRP)
- 3.3.7 Latin America
- 3.4 COVID- 19 impact on the industry outlook
- 3.4.1 Overall impact (USD Million)
- 3.5 Industry impact forces
- 3.5.1 Growth drivers
- 3.5.1.1 North America & Europe
- 3.5.1.1.1 Stringent Solar PV targets
- 3.5.1.1.2 Growing demand for sustainable resources over conventional fuels
- 3.5.1.2 Asia Pacific
- 3.5.1.2.1 Favorable government initiatives
- 3.5.1.2.2 Growing deployment of large-scale solar PV projects
- 3.5.1.3 Rest of World
- 3.5.1.3.1 Increasing investments across utility scale projects
- 3.5.1.3.2 Rising decentralized and off grid solar installations
- 3.5.2 Industry pitfalls and challenges
- 3.5.2.1 Longer payback period
- 3.5.2.2 Availability of other clean energy alternatives
- 3.6 Growth potential analysis
- 3.7 Porter's Analysis
- 3.7.1 Bargaining power of suppliers
- 3.7.2 Bargaining power of buyers
- 3.7.3 Threat of new entrants
- 3.7.4 Threat of substitutes
- 3.8 PESTEL Analysis
Chapter 4 Competitive Benchmarking
- 4.1 Competitive landscape, 2022
- 4.1.1 Strategy dashboard
- 4.1.1.1 First Solar
- 4.1.1.1.1 Agreement
- 4.1.1.1.2 Plant expansion
- 4.1.1.1.3 Installation/Supply
- 4.1.1.2 Toledo Solar
- 4.1.1.2.1 Plant expansion
- 4.1.1.2.2 Partnership
- 4.2 Innovation & technology landscape
Chapter 5 Thin Film Solar Cells Market, By Component
- 5.1 Key component trends
- 5.2 Cadmium Telluride (CDTE)
- 5.2.1 Global market from cadmium telluride (CDTE), 2019 - 2032
- 5.2.2 Global market from cadmium telluride (CDTE), by region, 2019 - 2032
- 5.3 Amorphous Silicon (A-Si)
- 5.3.1 Global market from amorphous silicon (A-Si), 2019 - 2032
- 5.3.2 Global market from amorphous silicon (A-Si), by region, 2019 - 2032
- 5.4 Copper Indium Gallium Diselenide
- 5.4.1 Global market from copper indium gallium diselenide, 2019 - 2032
- 5.4.2 Global market from copper indium gallium diselenide, by region, 2019 - 2032
Chapter 6 Thin Film Solar Cells Market, By Connectivity
- 6.1 Key connectivity trends
- 6.2 Ongrid
- 6.2.1 Global market from ongrid, 2019 - 2032
- 6.2.2 Global market from ongrid, by region, 2019 - 2032
- 6.3 Offgrid
- 6.3.1 Global market from offgrid, 2019 - 2032
- 6.3.2 Global market from offgrid, by region, 2019 - 2032
Chapter 7 Thin Film Solar Cells Market, By Application
- 7.1 Key application trends
- 7.2 Residential
- 7.2.1 Global market from residential, 2019 - 2032
- 7.2.2 Global market from residential, by region, 2019 - 2032
- 7.3 Commercial
- 7.3.1 Global market from commercial, 2019 - 2032
- 7.3.2 Global market from commercial, by region, 2019 - 2032
- 7.4 Utility
- 7.4.1 Global market from utility, 2019 - 2032
- 7.4.2 Global market from utility, by region, 2019 - 2032
Chapter 8 Thin Film Solar Cells Market, By Region
- 8.1 Key regional trends
- 8.2 North America
- 8.2.1 North America market, 2019 - 2032
- 8.2.2 North America market by component, 2019 - 2032
- 8.2.3 North America market by connectivity, 2019 - 2032
- 8.2.4 North America market by application, 2019 - 2032
- 8.2.5 U.S.
- 8.2.5.1 U.S. market, 2019 - 2032
- 8.2.5.2 U.S. market by component, 2019 - 2032
- 8.2.5.3 U.S. market by connectivity, 2019 - 2032
- 8.2.5.4 U.S. market by application, 2019 - 2032
- 8.2.6 Canada
- 8.2.6.1 Canada market, 2019 - 2032
- 8.2.6.2 Canada market by component, 2019 - 2032
- 8.2.6.3 Canada market by connectivity, 2019 - 2032
- 8.2.6.4 Canada market by application, 2019 - 2032
- 8.2.7 Mexico
- 8.2.7.1 Mexico market, 2019 - 2032
- 8.2.7.2 Mexico market by component, 2019 - 2032
- 8.2.7.3 Mexico market by connectivity, 2019 - 2032
- 8.2.7.4 Mexico market by application, 2019 - 2032
- 8.3 Europe
- 8.3.1 Europe market, 2019 - 2032
- 8.3.2 Europe market by component, 2019 - 2032
- 8.3.3 Europe market by connectivity, 2019 - 2032
- 8.3.4 Europe market by application, 2019 - 2032
- 8.3.5 UK
- 8.3.5.1 UK market, 2019 - 2032
- 8.3.5.2 UK market by component, 2019 - 2032
- 8.3.5.3 UK market by connectivity, 2019 - 2032
- 8.3.5.4 UK market by application, 2019 - 2032
- 8.3.6 Germany
- 8.3.6.1 Germany market, 2019 - 2032
- 8.3.6.2 Germany market by component, 2019 - 2032
- 8.3.6.3 Germany market by connectivity, 2019 - 2032
- 8.3.6.4 Germany market by application, 2019 - 2032
- 8.3.7 Spain
- 8.3.7.1 Spain market, 2019 - 2032
- 8.3.7.2 Spain market by component, 2019 - 2032
- 8.3.7.3 Spain market by connectivity, 2019 - 2032
- 8.3.7.4 Spain market by application, 2019 - 2032
- 8.3.8 France
- 8.3.8.1 France market, 2019 - 2032
- 8.3.8.2 France market by component, 2019 - 2032
- 8.3.8.3 France market by connectivity, 2019 - 2032
- 8.3.8.4 France market by application, 2019 - 2032
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific market, 2019 - 2032
- 8.4.2 Asia Pacific market by component, 2019 - 2032
- 8.4.3 Asia Pacific market by connectivity, 2019 - 2032
- 8.4.4 Asia Pacific market by application, 2019 - 2032
- 8.4.5 China
- 8.4.5.1 China market, 2019 - 2032
- 8.4.5.2 China market by component, 2019 - 2032
- 8.4.5.3 China market by connectivity, 2019 - 2032
- 8.4.5.4 China market by application, 2019 - 2032
- 8.4.6 India
- 8.4.6.1 India market, 2019 - 2032
- 8.4.6.2 India market by component, 2019 - 2032
- 8.4.6.3 India market by connectivity, 2019 - 2032
- 8.4.6.4 India market by application, 2019 - 2032
- 8.4.7 Japan
- 8.4.7.1 Japan market, 2019 - 2032
- 8.4.7.2 Japan market by component, 2019 - 2032
- 8.4.7.3 Japan market by connectivity, 2019 - 2032
- 8.4.7.4 Japan market by application, 2019 - 2032
- 8.4.8 Australia
- 8.4.8.1 Australia market, 2019 - 2032
- 8.4.8.2 Australia market by component, 2019 - 2032
- 8.4.8.3 Australia market by connectivity, 2019 - 2032
- 8.4.8.4 Australia market by application, 2019 - 2032
- 8.5 Rest of World
- 8.5.1 Rest of World market, 2019 - 2032
- 8.5.2 Rest of World market by component, 2019 - 2032
- 8.5.3 Rest of World market by connectivity, 2019 - 2032
- 8.5.4 Rest of World market by application, 2019 - 2032
Chapter 9 Company Profiles
- 9.1 First Solar
- 9.1.1 Business Overview
- 9.1.2 Financial Data
- 9.1.3 Product Landscape
- 9.1.4 Strategic Outlook
- 9.1.5 SWOT Analysis
- 9.2 Ascent Solar Technologies, Inc.
- 9.2.1 Business Overview
- 9.2.2 Financial Data
- 9.2.3 Product Landscape
- 9.2.4 SWOT Analysis
- 9.3 Oxford Photovoltaics Ltd.
- 9.3.1 Business Overview
- 9.3.2 Financial Data
- 9.3.3 Product Landscape
- 9.3.4 SWOT Analysis
- 9.4 Hanergy Holding Group Ltd.
- 9.4.1 Business Overview
- 9.4.2 Financial Data
- 9.4.3 Product Landscape
- 9.4.4 SWOT Analysis
- 9.5 MiaSolé
- 9.5.1 Business Overview
- 9.5.2 Financial Data
- 9.5.3 Product Landscape
- 9.5.4 Strategic Outlook
- 9.5.5 SWOT Analysis
- 9.6 Trony Solar Holdings Co., Ltd.
- 9.6.1 Business Overview
- 9.6.2 Financial Data
- 9.6.3 Product Landscape
- 9.6.4 SWOT Analysis
- 9.7 Toledo Solar
- 9.7.1 Business Overview
- 9.7.2 Financial Data
- 9.7.3 Product Landscape
- 9.7.4 Strategic Outlook
- 9.7.5 SWOT Analysis
- 9.8 Flisom
- 9.8.1 Business Overview
- 9.8.2 Financial Data
- 9.8.3 Product Landscape
- 9.8.4 SWOT Analysis
- 9.9 SOLARA GmbH
- 9.9.1 Business Overview
- 9.9.2 Financial Data
- 9.9.3 Product Landscape
- 9.9.4 SWOT Analysis