Thin Film Photovoltaic Market 2019 Global Analysis, Growth Analysis, Competitive, Regional Landscape with Forecast To 2023 | MRFR
Market Scenario
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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Industry Highlights
Solar photovoltaics face an issue of low efficiency as the sytems not able to convert sun rays into power efficiently. This is due to the demand to thin film photovoltaics that are coated with effective thin film coatings with particular chemicals that are photosensitive, which helps capture maximum sun rays and the convertion of solar light to electricity by solar inverters. Thin film photovoltaics are, thus, an energy efficient solution over traditional photovoltaics.
The demand for thin film photovoltaics is heightened by the increased demand for mass-production of energy due to the urbanization and transition of conventional energy to renewable energy, growing energy significant markets, and increasing demand for energy efficient solutions.
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Nations such as China, India, and South korea are the major requisitioners for renewable energy due to growing economic wealth and industrialization from the nations. Besides, these nations are also the top air polluters through conventional fuel power plants. India has plans to increase the energy generation through renewables to 175 GW up to 2022. Out of these 100 GW is planned to be achieved through solar power source. The government is supporting solar power through various incentives to equipment providers and solar plant setters. China has evolved as the largest solar energy producing nation in the world. According to IEA, China represents half of global solar PV demand and Chinese companies account for 60% of total annual solar cell manufacturing capacity.
Industry Segmentation
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.
Key Players
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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