NEW YORK, May 14, 2019 (GLOBE NEWSWIRE) -- The global amorphous silicon thin-film solar cells market is likely to expand to USD 5,310.2 million by 2025, witnessing a CAGR of 15.4% over the forecast period. The growth can be primarily attributed to the growing demand for amorphous silicon thin-film solar cells across a wide range of applications along with the rising worldwide demand for energy. Moreover, various favorable government initiatives towards renewable energy are further expected to propel the market demand over the forecast period.
Eliminating the dependency on conventional energy resources coupled with stringent regulations to reduce the carbon footprint, have fostered the market growth. Key players are focusing on high-end research and technological advancements in order to achieve higher efficiency levels for a-Si panels. Therefore their efficiency has increased overtime with increasing facets of application. Further, amorphous silicon thin-film solar cells are easier to manufacture and have low cost as compared to crystalline silicon based solar cells.
Key Findings from the Report:
- The global amorphous silicon thin-film solar cells market is likely to reach USD 5,310.2 million by 2025
- Consumer electronics segment held a significant share of the market in 2018, and the trend is likely to continue over the next seven years
- North America dominated the global market in 2018, and is expected to witness a healthy CAGR over the forecast period
- Some of the key companies operating in the industry include First Solar; Ascent Solar Technologies, Inc.; Sharp Corporation; Oxford PV; Hanergy Holding Group Ltd.; Trony Solar Holdings Co. Ltd.; SoloPower Systems, Inc.; Onyx Solar; Polysolar; Solar Frontier; Xunlight (Kunshan) Co., Ltd.; United Solar; and Hankey Asia Ltd.; among others
Consumer Electronics Segment Driving the Demand for the Global Market
Amorphous silicon thin-film solar cells find application across various industries, such as military, space, power supply, and consumer electronics, among others. Traditionally, amorphous silicon thin-film solar cells were mainly used in small electronic devices due to their simplistic design and low efficiency. However, with advancements in manufacturing techniques and an increase in their performance efficiency, these cells have found their application in building integrated photovoltaics. Key opportunity lies in the use of stacking technique of thin-film cells; which helps reduce the space required for the setup and allows the cells to be used for large scale applications due to increased efficiency. Also, the growing use of carbon nanotubes for charge transport between layers, presents significant opportunity for the market.
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Amorphous Silicon Thin-Film Solar Cells Market - Regional insight
North America dominated the global market for amorphous silicon thin-film solar cells in 2018, and is projected to maintain its dominance over the next seven years. The U.S being at the forefront of the North American market, has readily adopted a-Si thin-film modules for the purpose of building integration and power plant electricity generation. European market is anticipated to witness a steady growth during the forecast period. However, Germany accounts for the fastest growing markets in the region primarily due to initiatives taken by their government to reduce dependency on non-renewable resources.
The report segments amorphous silicon thin-film solar cells market on the basis of type, substrate type, application, and region.
By Type
- A-si Single
- A-si Tandem
- A-si/c-Si
- A-si/A-SiGe/A-SiGe
By Substrate Type
- Glass
- Metal
- Plastic
By Application
- BIPV
- Grid-connected power supply
- Military & space
- Consumer electronics
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Central & South America (CSA)
- Middle East & Africa (MEA)
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