Current Business Affairs Global Thin Film Solar Panels Market 2018

Global Thin Film Solar Panels Market Trends, Analysis, and Forecast To
2025
Market Definition:
Thin film is used to convert solar rays into electrical energy by application of photovoltaic effect. It consists of one or
more thin layer of photovoltaic material on substrate such as metal, plastic and glass. The thickness of these cells varies
from few nanometers to micrometers and are relatively lightweight and flexible. These cells are ideal for variety of
applications, owing to their non-penetrating peel and flexibility; and hence are widely employed for residential,
commercial, and utility purposes. Thin film solar cells are cost-effective and is an efficient way to transform sunlight into
electricity.
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Market Growth and Analysis:
Increasing electricity consumption is the prime reason that will drive the thin film solar cells market during forecast
period. However, the raising R & D activities to improve energy efficiency will further propel the growth of this market.
In addition, the factors accounting to the increasing consumer awareness about green energy, proper installation
flexibility, and performance efficiency of thin film solar cell also propagate the growth of this market. Lack of awareness
on available financial incentives and complex product design coupled with high initial setup may hamper the growth of
this industry.
Globally, Europe dominates thin film solar panels market and Latin America is expected a high growth rate during the
forecast years, owing to the upsurge investment in wind and solar sector in Brazil. On the basis of type, copper indium
gallium diselenide (CIGS) is the leading this market, followed by cadmium telluride (CdTe), owing to its high performance
activity and high absorption coefficient.
Market Segment:
The global thin film solar panels market can be segmented on the basis of type, end-user, installations and region. On
the basis of type, the global thin film solar panels market can be segmented into cadmium telluride (CdTe), copper
indium gallium diselenide (CIGS), and amorphous thin-film silicon. On the basis of end-user, the global thin film solar
panels market can be segmented into residential, commercial, and utility. On the basis of installations, the global thin
film solar panels market can be segmented into on-grid and off-grid.
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Market Key players:
Some of the key players in the global thin film solar panels market include Ascent Solar Technologies Inc., First Solar,
Global Solar, Inc., Hankey Asia Ltd., Kaneka Corporation, MiaSole Hi-Tech Corp., Mitsubishi Electric US, Inc., Oxford
Photovoltaics, Trony Solar and Xunlight Kunshan Co. Ltd.