Global Thin Film Photovoltaics Market – Overview
The global thin film photovoltaics market is expected to expand at ~28.36% CAGR during the forecast period. Solar power is emerging, as a highly demanded form in the renewable energy industry. Solar power is generated with the help of photovoltaics and concentrated solar panels. The emphasis on cutting down the carbon emissions has led the countries to increase the share of renewable energy in the electricity generation mix. Solar power sees maximum opportunities due to huge geographic potential and incentives and policies from the governments to promote clean energy generation. Solar power has attained milestones in the last decade, with global generation reaching to approximately 100 GW, by the end of 2017. Solar photovoltaics are advantageous as they are quiet and are reliable for long term electricity generation without huge maintenance costs.
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The major player operating in the market of global thin-film photovoltaics are Siemens AG (Germany), United Solar Energy (U.S.), Solar Cells Inc. (U.S.), Solarex MD (U.S.), Golden Photon Inc. (U.S.), ECD (U.S.), Kyocera Corporation (Japan), and Suntech Power Holdings Co. Ltd (China). Mitsubishi Electric Corporation (Japan), Panasonic Corporation (Japan), Sharp Corporation (Japan), JA solar Co. Ltd (China), Jinko Solar (China), ReneSola Co. Ltd (China),Kaneka Corporation (Japan) , and Trina Solar (China) are among others.
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Thin Film Photovoltaics Market Segments Analysis:
The thin film photovoltaics market is segmented on the basis of material, type, end-use and region. Based on the material segment, the market is classified as amorphous silicon, and cadmium telluride. Amorphous silicon segments is dominating the global thin-film photovoltaics market due to its global commercial availability.
On the basis of type, the market is fragmented as organic and inorganic. Organic segment accounts for the largest market share owing to photoactive layers composed of donor and acceptor semiconducting organic materials to generate photocurrents thus organic photovoltaics have capability to capture huge amount of sun rays and convert them to electricity.
Based on end-user, the thin film photovoltaics market is segmented as residential, industrial, and commercial. Commercial sector is expected to dominate the market, owing to supporting policies and incentives that are provided by the governments.
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