Thin-film photovoltaic market is experiencing a continuous advancement on the basis of materials employed and manufacturing technology. The aim to utilize an economical electricity generating technology has resulted in a number of companies investing in the thin-film photovoltaic market. The technology of thin film photovoltaic has experienced a huge development leap from just being providing a strip of PV cells for powering calculators to solar charges or sophisticated BIPV for mobile devices.
This study presents information and evaluation of the present status of the global thin-film photovoltaic market. The state of the market by the end of 2020 is also presented in this report. The technological developments taking place in the market and their influence on the market’s growth have also been detailed. Likewise, the emerging technologies in this market have been thoroughly explained.
The report further presents the comparative evaluation and the market share of different thin film technologies along with presenting their forecast by the end of 2020. In addition, fundamental topics such as the market drivers, restraints, challenges, and the investment status in the global thin-film photovoltaic market have been presented through this study. The report aids in understanding how each technology within this market, at different development stages, will change the overall market dynamics.
Overview of Thin Film Photovoltaic Market
The growth of the market for photovoltaic cells varies nation by nation. This is primarily owing to the public support programs and variations in energy policies, particularly in case of photovoltaic. Thin film photovoltaic systems have numerous benefits in the marketplace owing to which they are being highly demanded globally. They have two primary technical advantages which make them more powerful than crystalline systems. Firstly, they exhibit enhanced low light production properties. Secondly, they exhibit an attractive temperature coefficient and this lowers the influence of high ambient temperatures on the production of energy.
Owing to less steps of production and comparatively low material input, thin film photovoltaic technologies hold an immense potential in lowering cost. Another advantage of thin film is their aesthetic appeal. Due to their homogenous and almost black appearance, thin film modules, particularly those employing copper indium gallium selenide technology, are highly utilized to build integrated PV applications globally.
The global thin film photovoltaic market is fuelled by the rising population and the increasing investments globally. In addition, strict regulations and rules imposed by governments in a number of nations will also provide impetus to the growth of this market. Furthermore, factors such as increased efficiency and low cost of thin film photovoltaic cells are also positively impacting the development of the overall market. On the other hand, the skyrocketing cost deployed in the maintenance of thin film photovoltaic systems may impede the development of the market in the coming years.
On the basis of geography, the report categorizes the market into Europe, North America, Asia Pacific, and Rest of the World (RoW). The energy demand is rising at an alarming rate which presents immense opportunities for thin film photovoltaic systems in Asia Pacific, particularly in nations such as China and India.
Key players in Thin Film Photovoltaic Market
The prime players in the global thin film photovoltaic market are Dunmore Corporation, SoloPower Systems Inc., HHV Solar Technologies Pvt. Ltd, Mitsubishi Electric Corporation, First Solar Company, Hanergy Holding Group Limited, Kaneka Corporation, SoltaBond GmbH BLOO Solar Inc., NanoPV Solar Inc., and Tokyo Electron Limited, among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.