According to a newly published report by Research Nester on “Thin Film Photovoltaic Module Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global thin film photovoltaic module market in terms of market segmentation by type, by component, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Thin film panels are made with solar cells that have light absorbing layers about 350 times smaller than that of a standard silicon panel. Because of its narrow design and the efficient semi-conductor built into their cells, thin film solar cells are the lightest and durable PV cell. Factors such as carbon offset, efficiency, roof space and installation cost distinguishes thin film from standard solar panels.
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In terms of carbon offset, the emissions required to create a thin film cell and panel are much lower than mono or polycrystalline panels. Owing to these factors, the global thin film photovoltaic market is anticipated to record a CAGR of 32% over the forecast period i.e. 2019-2027.
Furthermore, installation cost differs considerably between thin film and typical PV, reason being thin film panels are very easy to install and require much less labor. Factors, such as increasing population, advancement in technology, rapid industrialization in emerging markets (such as India and China), rising standard of living, and globalization are driving the global demand.
On the basis of regional analysis, the thin film photovoltaic module market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America and Europe are anticipated to lead the market owing to early adoption of these technologies. European region is expected to be driven by countries such as Italy, Germany and Spain on account of growing demand for solar energy.
Asia Pacific is also expected to register significant growth on back of increasing adoption of semiconductors in the electronics industry. Emerging markets such as China, India are expected to show their presence.
New Product Development- In addition, next generation thin film PV technologies, such as dye sensitized solar cells (DSCs), organic PV, and perovskite PV, are being developed. These next generation technologies are anticipated to gain more prominence in the long term as they are believed to be superior in terms of energy generation capacity as well as flexibility.
This report also provides the existing competitive scenario of some of the key players of the global thin film photovoltaic market which includes company profiling of First Solar, Inc., Solo Power Systems, Inc., Sharp Solar Energy Solutions, Solar Frontier K.K., Hanergy Holding Group Ltd., Solibro GmbH, NexPower Technology Corp., Trony Solar Holding Co. Ltd., TSMC Solar Limited and Kaneka Corporation.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the thin film photovoltaic module market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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