Thin Film Photovoltaic Market Analysis:
The global Thin
Film Photovoltaic Market is predicted to grow at
a whopping 28.36% CAGR between 2018- 2023 states the recent Market Research
Future (MRFR) analysis. Solar power has emerged as a highly favoured renewable
energy industry. It is generated through concentrated solar panels and photovoltaics.
Thin film photovoltaic is available in both inorganic and organic form and used
widely in commercial, industrial, and residential sectors.
Prominent Players
analyzed in the Thin Film Photovoltaic Market are:
Leading contenders
profiled in the global thin film photovoltaic market report include Trina Solar
(China), Kaneka Corporation (Japan), ReneSola Co. Ltd (China), Jinko Solar
(China), JA Solar Co. Ltd (China), Sharp Corporation (Japan), Panasonic
Corporation (Japan), Mitsubishi Electric Corporation (Japan), Suntech Power
Holdings Co. Ltd (China), Kyocera Corporation (Japan), Solarex MD (U.S.), Solar
Cells Inc. (U.S.), United Solar Energy (U.S.), and Siemens AG (Germany).
Various factors are
propelling the global thin film photovoltaic market growth. As per the current
MRFR report, such factors include increased concerns about carbon footprint
reduction, emerging solar market, growing demand for mass-production of energy
owing to urbanization, the transition to renewable energy from conventional
energy, growing demand for energy-efficient solutions, rising energy
significant markets, increasing population, and advances in technology.
Additional factors adding market growth include rising living standards,
globalization, and newer applications of solar panels like for
rooftops/facades, applications which demand more flexibility & low angle
installations, and building integrated photovoltaic (BIPV).
On the contrary, high
initial manufacturing investment, technological complexity associated with the
use of thin-film solar cells, low conversion efficiency, multi-junction PV
cells, poor installation, poor maintenance practices, and high capital costs
are factors that may impede the global thin film photovoltaic market growth
over the forecast period. Besides, the negative impact of the current COVID-19
pandemic resulting in disrupted supply chains is also affecting the market
growth considerably.
COVID-19 Outbreak Impact on Thin-Film
Photovoltaic Market at: https://www.marketresearchfuture.com/report/covid-19-impact-thin-film-photovoltaic-market
Global Thin Film
Photovoltaic Industry Segmentation:
The MRFR report provides
an inclusive segmental analysis of the global thin film photovoltaic market
based on end user, type, and material.
By material, the global
thin film photovoltaic market is segmented into cadmium telluride and amorphous
silicon. Of these, the amorphous silicon segment is predicted to lead the
market over the forecast period. The global commercial availability of
amorphous silicon is adding to the growth of the segment.
By type, the global thin
film photovoltaic market is segmented into inorganic and organic. Of these, the
organic segment will dominate the market over the forecast period for
photoactive layers being made of donor & acceptor semiconducting organic
material for generating photocurrents.
By end user, the global
thin film photovoltaic market is segmented into commercial, industrial, and
residential. Of these, the commercial segment will spearhead the market over
the forecast period. Supporting incentives and policies offered by the
government is adding to the growth of the segment.
Regional Analysis
Based on the region, the
thin film photovoltaic market report covers the growth opportunities and recent
trends across the Asia Pacific (APAC), North America, Europe, & the Middle
East and Africa (MEA).
Of these, the APAC region
is predicted to dominate the market over the forecast period. Growing
population, rising disposable income, rapidly growing economies, and rising
deployment of solar PV modules in residential and commercial applications &
utility-scale are adding to the global thin film photovoltaic market growth in
the region.
The global thin film
photovoltaic market in Europe is predicted to hold the second-largest share
over the forecast period. Increased demand for solar energy in Spain, Germany,
and Italy is adding to the global thin film photovoltaic market growth in the
region.
The global thin film
photovoltaic market in North America is predicted to have healthy growth over
the forecast period.
The global thin film
photovoltaic market in the MEA is predicted to have sound growth over the
forecast period.
Get Complete Thin Film Photovoltaic Market
Report Details at: https://www.marketresearchfuture.com/reports/thin-film-photovoltaic-market-1345
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