Market Size of Thin Film Solar PV Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 23.02 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thin Film Solar PV Market Analysis
The market for thin-film solar PV is expected to register a CAGR of 23.02% during the forecast period of 2020 - 2025.
- Factors, such as low PV module prices and technological advancements made to improve the efficiency of thin-film solar cells, are the major drivers of the market studied. However, as thin-film panels require a larger area than alternative types of solar PV modules, the mere size of the system negatively affects the cost-effectiveness of the thin-film PV module systems, as the panel output losses offset less installation cost due to lower efficiencies. This factor, in turn, is expected to hinder the growth of the market studied.
- Globally, the photovoltaic (PV) solar cells based on cadmium telluride (CdTe) represent the largest segment of commercial thin-film module production as it is a lower-cost alternative to conventional silicon-based technologies.
- Tariffs on Imported Solar Cells (c-Si) and Modules in the United States is expected to create an ample opportunity for thin-film manufacturers.
- Asia-Pacific dominated the market across the world with the majority of the demand coming from the countries, such as China, and Japan.
