Global Thin Film PV Cells Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Energy And Power Date : March 28th, 2019
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The global thin film PV cells market was valued at USD 13.5 billion in 2017, and is likely to generate a demand of USD 41.2 billion by 2024, at a CAGR of 17.3% over the next seven years. Rising demand for energy across the globe is expected to drive the market. Moreover, several favorable government initiatives towards renewable energy along with superior performance offered by thin film PV cells are set to accelerate market demand over the forecast period. The years used for the assessment are as follows;

  • Historical year : 2014, 2015 and 2016
  • Base year  : 2017
  • Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the thin film PV cells market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the market
  • Finalizing the overall size and share for the global market

OBJECTIVES:

  • To classify global thin film PV cells market into segments on the basis of type, installation, application and region to analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with thin film PV cells
  • Profiling key companies operating in the global market
  • To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE 

The research scope for thin film PV cells market is as follows:

By Type

  • Amorphous Thin-Film Silicon
  • Cadmium Telluride (CDTE)
  • Copper Indium Gallium Diselenide (CIGS) 

By Installation

  • On-grid
  • Off-grid

By Application

  • Residential
  • Commercial
  • Utility

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America (CSA)
  • Middle East & Africa (MEA)

The market for thin film PV cells is projected to augment owing to the several stringent government regulations regarding carbon emissions and climate change. It is a well recognized fact that there is a global need for alternative sources of energy. Moreover, current reliance on fossil fuels accounts for the major pollution across the globe. Thus, various programs have been initiated by the governments to promote the use of renewable energy.

Thin film PV cells are made by placing one or more layers of photovoltaic material onto a surface such as glass, metal or plastic. These cells are comparatively lightweight as well as flexible. The thickness of these cells may vary from a few nanometers to micrometers making them ideal for a diverse range of applications, namely residential, commercial, and utility purposes. Thin film PV cells offer ease of operation, have a narrow design and are durable.

In addition, thin film PV cells may also be used to create flexible building materials such as building integrated photovoltaics.  The output of thin film solar cells is less affected by high temperatures and work well in low light conditions. These cells can be bent into varied types of aesthetic shapes, while using lesser materials in the manufacturing. Thus, thin film solar cells are likely to become significant renewable resources for sustainable energy supply over the coming years.

Moreover, the industry comprises of various big market players with several years of expertise in the solar PV production. High investments in research and development activities coupled with innovation are the prerequisites for these players to gain higher market share. For instance, Ascent Solar Technologies, a major market player, is presently the only manufacturer that commercially produces CIGS solar on a substrate with monolithic integration. Such key differentiators put the company ahead of all other solar manufacturers. Besides, a handful of new players are also expected to enter the market over the coming years due to the vast potential offered by thin film PV cells.

The initial manufacturing cost for thin film PV cells is quite high. However, this cost is incurred only once and thereafter solar cells have a very negligible maintenance cost. Other concerns such as technical complexities and solar power being an intermittent source of energy, may hinder the market growth over the next seven years.

Some of the key companies operating in the industry include First Solar; Ascent Solar Technologies, Inc.; Sharp Corporation; Oxford PV; Hanergy Holding Group Ltd.; Bosch Solar Energy AG; Trony Solar Holdings Co. Ltd.; Kaneka Corporation; Mitsubishi Heavy Industries Ltd.; SoloPower Systems, Inc.; NanoPV Technologies; Triton Solar LLC; Solar Frontier; NexPower Technology CORP.; Xunlight (Kunshan) Co., Ltd.; among others.Thin Film PV cells

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Thin Film PV Cells market – Market snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global thin film PV cells market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Growing investment in research & development activities

3.5.2. Rising worldwide energy consumption

3.6. Market dynamics

3.6.1. Market driver analysis

   3.6.1.1. Superior installation flexibility and performance of thin film cells

   3.6.1.2. Favorable government initiatives towards renewable energy

3.6.2. Market restraint analysis

   3.6.2.1. High initial manufacturing cost

   3.6.2.2. Technical complexities associated with thin film PV cells

CHAPTER 4. Competitive Outlook

4.1. Porter’s Five Forces Analysis

4.2. Company Market Share Analysis

4.2.1. Competitive Factors

CHAPTER 5. Global Thin Film PV Cells Market Size and Forecast (2014 – 2024)

5.1. Global Thin Film PV Cells Market, By Type (USD Billion) (Mega Watts)

5.1.1. Amorphous Thin-Film Silicon

5.1.2. Cadmium Telluride (CDTE)

5.1.3. Copper Indium Gallium Diselenide (CIGS)

5.2. Global Thin Film PV Cells Market, By Installation (USD Billion) (Mega Watts)

5.2.1. On-grid

5.2.2. Off-grid

5.3. Global Thin Film PV Cells Market, By Application (USD Billion) (Mega Watts)

5.3.1. Residential

5.3.2. Commercial

5.3.3. Utility

CHAPTER 6. Global Thin Film PV Cells Market Size and Forecast, By Region (2014 – 2024)

6.1. North America Thin Film PV Cells Market (USD Billion) (Mega Watts)

6.1.1. North America Thin Film PV Cells Market, By Type (USD Billion) (Mega Watts)

6.1.2. North America Thin Film PV Cells Market, By Installation (USD Billion) (Mega Watts)

6.1.3. North America Thin Film PV Cells Market, By Application (USD Billion) (Mega Watts)

6.1.4. North America Thin Film PV Cells Market, By Country (USD Billion) (Mega Watts)

   6.1.4.1. The U.S.

   6.1.4.2. Rest of North America

6.2. Europe Thin Film PV Cells Market (USD Billion) (Mega Watts)

6.2.1. Europe Thin Film PV Cells Market, By Type (USD Billion) (Mega Watts)

6.2.2. Europe Thin Film PV Cells Market, By Installation (USD Billion) (Mega Watts)

6.2.3. Europe Thin Film PV Cells Market, By Application (USD Billion) (Mega Watts)

6.2.4. Europe Thin Film PV Cells Market, By Country (USD Billion) (Mega Watts)

   6.2.4.1. Germany

   6.2.4.2. U.K

   6.2.4.3. France

   6.2.4.4. Italy

   6.2.4.5. Spain

   6.2.4.6. Rest of Europe

6.3. Asia-Pacific Thin Film PV Cells Market (USD Billion) (Mega Watts)

6.3.1. Asia-Pacific Thin Film PV Cells Market, By Type (USD Billion) (Mega Watts)

6.3.2. Asia-Pacific Thin Film PV Cells Market, By Installation (USD Billion) (Mega Watts)

6.3.3. Asia-Pacific Thin Film PV Cells Market, By Application (USD Billion) (Mega Watts)

6.3.4. Asia-Pacific Thin Film PV Cells Market, By Country (USD Billion) (Mega Watts)

   6.3.4.1. China

   6.3.4.2. Japan

   6.3.4.3. India

   6.3.4.4. South Korea

   6.3.4.5. Australia

   6.3.4.6. Rest of Asia-Pacific

6.4. Central & South America (CSA) Thin Film PV Cells Market (USD Billion) (Mega Watts)

6.4.1. Central & South America (CSA) Thin Film PV Cells Market, By Type (USD Billion) (Mega Watts)

6.4.2. Central & South America (CSA) Thin Film PV Cells Market, By Installation (USD Billion) (Mega Watts)

6.4.3. Central & South America (CSA) Thin Film PV Cells Market, By Application (USD Billion) (Mega Watts)

6.4.4. Central & South America (CSA) Thin Film PV Cells Market, By Country (USD Billion) (Mega Watts)

   6.4.4.1. Brazil

   6.4.4.2. Chile

   6.4.4.3. Rest of Central & South America (CSA)

6.5. Middle East & Africa (MEA) Thin Film PV Cells Market (USD Billion) (Mega Watts)

6.5.1. Middle East & Africa (MEA) Thin Film PV Cells Market, By Type (USD Billion) (Mega Watts)

6.5.2. Middle East & Africa (MEA) Thin Film PV Cells Market, By Installation (USD Billion) (Mega Watts)

6.5.3. Middle East & Africa (MEA) Thin Film PV Cells Market, By Application (USD Billion) (Mega Watts)

6.5.4. Middle East & Africa (MEA) Thin Film PV Cells Market, By Country (USD Billion) (Mega Watts)

   6.5.4.1. UAE

   6.5.4.2. South Africa

   6.5.4.3. Rest of Middle East & Africa (MEA)

CHAPTER 7. Key Players and Strategic Developments

7.1. First Solar

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Ascent Solar Technologies, Inc.

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. Sharp Corporation

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Oxford PV

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Hanergy Holding Group Ltd.

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Bosch Solar Energy AG

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Trony Solar Holdings Co. Ltd.

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Kaneka Corporation

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Mitsubishi Heavy Industries Ltd.

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. SoloPower Systems, Inc.

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. NanoPV Technologies

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

7.12. Triton Solar LLC

7.12.1. Business Overview

7.12.2. Product and Service Offering

7.12.3. Financial Overview

7.12.4. Strategic Developments

7.13. Solar Frontier

7.13.1. Business Overview

7.13.2. Product and Service Offering

7.13.3. Financial Overview

7.13.4. Strategic Developments

7.14. NexPower Technology CORP.

7.14.1. Business Overview

7.14.2. Product and Service Offering

7.14.3. Financial Overview

7.14.4. Strategic Developments

7.15. Xunlight (Kunshan) Co., Ltd.

7.15.1. Business Overview

7.15.2. Product and Service Offering

7.15.3. Financial Overview

7.15.4. Strategic Developments

Global Thin Film PV Cells Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024