Pune, June 15, 2023 (GLOBE NEWSWIRE) -- A global Energy & Power business consulting firm, Maximize Market Research has published a market intelligence and competitive landscape report on the “Thin Film Photovoltaics Market. The report is a combination of primary data and secondary data and domain experts have analyzed the Thin Film Photovoltaics Market from a global point and regional standpoint. Maximize Market Research expects the market to grow from USD 11.5 Bn. in 2022 to USD 22.25 Bn. in 2029 at a CAGR of 8.6 percent during the forecast period.
Thin Film Photovoltaics Market Report Scope and Research Methodology
| Market Size in 2022 | USD 11.5 Bn. |
| Market Size in 2029 | USD 22.25 Bn. |
| CAGR | 8.6 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 281 |
| No. of Tables | 116 |
| No. of Charts and Figures | 115 |
| Segment Covered | Technology, Application, End-Users, Material, Installation, Power Output, Distribution Channel, and Service Providers |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Thin Film Photovoltaics Market report includes a comprehensive analysis of emerging trends, market drivers, growth opportunities, and major restraints in the industry. It also provides a detailed analysis of the major segments of the Thin Film Photovoltaics Market with their sub-segments. The report covers historical data for understanding the past and forecasting future trends in the Thin Film Photovoltaics industry. To understand the structure of the market and the prevailing competition in the industry, a thorough regional and competitive analysis of the Thin Film Photovoltaics Market is covered in the report. The competitive landscape includes key players in the market along with new entrants. Regional analysis of the market is covered at global, regional, and country levels for understanding the market penetration, dominant players, and growth strategies used by them.
The bottom-up approach was used to estimate the global and regional Thin Film Photovoltaics Market size. The main research methodology used by the Maximize Market Research team is data triangulation which involves data mining, analysis of the impact of data variables on the Thin Film Photovoltaics Market, and primary (industry expert) validation. The report includes extensive use of secondary sources directories and databases such as Bloomberg, Hoovers, Statista, and other government associations. The company websites and private websites have also been used to identify and collect information useful for the technical, market-oriented, and commercial study of the Thin Film Photovoltaics Market. To provide strengths, weaknesses, opportunities, and threats in the Thin Film Photovoltaics Market, a SWOT analysis was used. PESTLE was employed to understand the potential impact of the micro-economic and macro-economic factors affecting the Thin Film Photovoltaics Market.
Thin Film Photovoltaics Market Overview
Thin film photovoltaic solar cells use a thin layer of semiconductor material to convert sunlight into electricity and they are available in a variety of shapes and sizes, making them suitable for a wide range of applications. The Thin Film Photovoltaics market is expected to grow by the increasing demand for renewable energy sources, government initiatives for solar energy, and the declining cost of thin film photovoltaic cells during the forecast period.
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Thin Film Photovoltaics Market Dynamics
The growing demand for sustainable energy solutions is expected to drive significant growth in the thin film photovoltaics market. Companies are actively working to reduce their carbon footprint and achieve sustainability goals, leading to increased demand for thin film photovoltaics. Governments worldwide are also supporting renewable energy adoption through incentives and subsidies, creating a favorable environment for the market's growth.
The demand for portable solar equipment and off-grid electricity is increasing, creating a significant market for thin film photovoltaics. Products such as mobile chargers, wearable technology, and remote sensors require flexible and small energy solutions, which thin film photovoltaics can provide. Businesses are offering innovative solutions to address this demand, indicating substantial growth potential in the projected period.
While the thin film photovoltaics market has promising growth prospects, it faces competition from alternative renewable energy sources like wind, hydro, and geothermal energy. These competing sources may impede market growth, particularly in regions where they are widely utilized.
Thin Film Photovoltaics Market Regional Insights
North America Thin Film Photovoltaics Market is expected to grow at a rapid pace during the forecast period thanks to the increasing demand for renewable energy sources, the declining cost of thin film solar cells, and government initiatives to promote the use of solar energy. The thin film photovoltaics market key players First Solar, Solar Frontier, Sharp, and Kaneka are investing in research and development to improve the efficiency and performance of thin film solar cells and also expanding their manufacturing capacity to meet the growing demand for thin film photovoltaics.
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Thin Film Photovoltaics Market Segmentation
By Technology
- Cadmium Telluride (CdTe)
- Copper Indium Gallium Selenide (CIGS)
- Amorphous Silicon (a-Si)
- Organic Photovoltaic (OPV)
By Application
- Building integrated photovoltaics (BIPV)
- Portable devices
- Utility-scale applications
By End-user
- Residential
- Commercial
- Industrial sectors
By Material
- Glass
- Metal
- Polymers
By Installation
- Rooftop installations
- Ground-mounted installations
- Floating installations
By Power Output
- Less than 50 Watts
- 50-300 Watts
- More than 300 Watts
By Distribution Channel
- Direct sales
- Distributors
- E-commerce platforms
Thin Film Photovoltaics Market's Key Competitors include:
- First Solar, Inc. (USA)
- Hanergy Thin Film Power Group Ltd. (China)
- Solar Frontier K.K. (Japan)
- Kaneka Corporation (Japan)
- MiaSolé Hi-Tech Corp. (USA)
- Sharp Corporation (Japan)
- Trony Solar Holdings Co. Ltd. (China)
- Ascent Solar Technologies, Inc. (USA)
- Stion Corporation (USA)
- AVANCIS GmbH & Co. KG (Germany)
- NexPower Technology Corp. (Taiwan)
- Xunlight Kunshan Co., Ltd. (China)
- United Solar Ovonic LLC (USA)
- Solarion AG (Germany)
- Flisom AG (Switzerland)
- Heliatek GmbH (Germany)
- Nanosolar Inc. (USA)
- Moser Baer Solar Limited (India)
- T-Solar Global S.A. (Spain)
- Global Solar Energy Inc. (USA)
- Hyundai Heavy Industries Green Energy Co., Ltd. (South Korea)
- Sunflare (USA)
- SoloPower Systems, Inc. (USA)
- Bosch Solar CISTech GmbH (Germany)
- DUNMORE Corporation (USA)
- ISET (South Korea)
- Siva Power (USA)
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis of the Thin Film Photovoltaics Market by Technology, Application, End-Users, Material, Installation, Power Output, Distribution Channel, Service Providers, and Region.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Key questions answered in the Thin Film Photovoltaics Market are:
- What is the growth potential of the Thin Film Photovoltaics Market?
- What was the Thin Film Photovoltaics Market Size in 2021?
- What are the global trends in the Thin Film Photovoltaics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Thin Film Photovoltaics Market?
- How is the intervention from regulatory authority shaping the Thin Film Photovoltaics Market?
- What growth strategies are the players considering to increase their presence in the Thin Film Photovoltaics Market?
- Who are the leading companies and what are their portfolios in the Thin Film Photovoltaics Market?
- What are the major challenges posed to the Thin Film Photovoltaics Market?
- Who held the largest market share in the Thin Film Photovoltaics Market?
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
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Thin Film Material Market - The Thin Film Material Market size is expected to reach USD 16.12 billion by 2029. The market is expected to be driven by the Rising demand for Thin Films across various industries.
Building-integrated Photovoltaics Market- The Building-integrated Photovoltaics Market size is expected to reach USD 65.12 Bn. by 2029 at a CAGR of 23.25 percent during the forecast period. The Increasing R&D Activities are expected to boost the Building-integrated Photovoltaics Market growth.
Thin Film Photovoltaic and Batteries Market - The Thin Film Photovoltaic and Batteries Market size is expected to reach USD 23.55 Bn by 2029 at a CAGR of 28.36 percent during the forecast period. The market is expected to be driven by the growing market for photovoltaic solar cells across the globe and the rising use of thin film batteries in renewable energy storage devices.
Material for Next Generation Photovoltaics Market- The market size is expected to reach USD 26.70 billion by 2029 at a CAGR of 7.5 percent during the forecast period. The market is expected to be driven by The growing demand for commercial renewable energy techniques and increasing fossil fuel prices.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
