Global Solar Cell Films Market: Snapshot
Considering the alarming rate at which the non-renewable sources of energy are depleting, the demand for solar energy is at an all-time high. Furthermore, escalating energy demands witnessed worldwide will bolster prospects for renewable energy sources. Against this backdrop, Transparency Market Research expects the demand for solar cell films to rise in response to the soaring demand for solar energy. Besides this, favorable policies and fiscal incentives by governments encouraging the use of solar energy is likely to have a positive impact on the global solar cell films market.
This paradigm shift in energy usage has augured well for the global solar cell films market, enabling it exhibit a CAGR of 9.40% between 2015 and 2023. At this pace, the market’s valuation is likely to reach US$20.9 bn by the end of 2023. Also competition prevailing in the market is expected to remain high through the forecast period, as more and more companies engage in research and development activities to commercialize thin film PV technologies.
Commercial Sector to Exhibit Increased Demand for Solar Cell Films
Based on type, the global solar cell films market can be segmented into cadmium telluride, amorphous silicon, and copper indium gallium selenide. Of these, cadmium telluride has emerged as the most valued product and is projected to remain a prominent segment through the report’s forecast period. Cadmium telluride boasts a longer shelf life, low production cost, and high product efficiency. On the back of these factors, the demand for cadmium telluride is likely to remain high even in the forthcoming years.
In terms of end users, industrial, commercial, and residential sectors constitute the key market segments. Of these, the commercial sector is likely to showcase the maximum demand for solar cell films on account of the increasing demand for electricity. Solar cell films have an unlimited capacity of power supply and has a much less maintenance cost, which make them highly feasible for use in offices, shopping complexes, malls, multiplexes, and other commercial buildings.
Europe Emerges as Dominant Segment in Global Market
Regionally, the global solar cell films market can be segmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Among these regions, Europe has emerged as the dominant market for solar cell films, on the back of increased installation of solar cell films in nations such as Germany, Russia, France, Spain, and the UK. However during the course of the forecast period, Asia Pacific is forecast to exhibit growth at a higher pace. The rapid industrialization and swiftly increasing population are the chief driving factors of the solar cell films market in Asia Pacific. Besides this, the market is expected to witness lucrative opportunities North America on account of the rising demand from the U.S. and Canada.
Some of the most prominent companies operating in the global solar cell films market are 3M, Prism Solar Technologies Inc., DUNMORE Corp., Solar Frontier K.K., Hanergy Holding Group Ltd., First Solar Inc., Advanced Energy Industries Inc., Heliatek GmbH, Kaneka Corp., Stion Corp., and Lucent CleanEnergy. A majority of these companies are focusing on gaining a competitive edge via innovations. Hence investment toward research and development will continue scaling in the global solar cell films market through the forecast period.
This research study analyzes the market for solar cell films in terms of volume and revenue. The solar cell films market has been segmented on the basis of type, end-use, and geography. For the research, 2014 has been taken as the base year while the forecast extends from 2015 to 2023. Market data for all the segments has been provided at the regional and country-specific level for 2013–2023. The regional segments have been further divided into country level sub-segments. The report also includes the major players in the global solar cell films market.
The report provides a comprehensive competitive landscape and features companies engaged in the solar cell films business. This report includes the key market dynamics affecting the overall solar cell films industry globally. The report also provides a detailed analysis of the global solar cell films market with the help of the Porter’s Five Forces model. The Porter’s Five Forces analysis aids in understanding the five major forces that affect the industry structure and profitability of the market. The forces analyzed are the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the solar cell films business globally. Major drivers, restraints, and opportunities in the solar cell films market were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. There are currently number of growth drivers for the solar cell films industry. One of the most prominent drivers is the increase in demand for solar energy coupled with regulatory framework. Apart from this, solar cell films helps in reducing carbon footprints. This factor also contributes to the overall growth of the solar cell films market. Market attractiveness analysis was done on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The solar cell films market was further segmented on the basis of type. The types included in this report are amorphous silicon, cadmium telluride, and copper indium gallium selenide. Further, the market for solar cell films was segmented on the basis of end-use into residential, commercial, and industrial segments. The solar cell films market was analyzed across six geographies: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Regional data has been provided for each sub-segment of the solar cell films market. Key market participants in the solar cell films market include Heliatek GmbH, DUNMORE Corporation, 3M, Advanced Energy Industries, Inc., First Solar, Inc., Lucent CleanEnergy, Stion Corporation, Solar Frontier K.K., Kaneka Corporation, Hanergy Holding Group Ltd., and Prism Solar Technologies, Inc. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
The global solar cell films market has been segmented as follows:
Solar Cell Films Market: Type Analysis
- Amorphous Silicon
- Cadmium Telluride
- Copper Indium Gallium Selenide
Solar Cell Films Market: End-use Analysis
Solar Cell Films Market: Region Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East
- Rest of Middle East
- South Africa
- Rest of Africa