Global thin-film photovoltaic and batteries market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of ~28.36% during the forecast period.
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Global thin-film photovoltaic and batteries market Definition
Thin-film photovoltaic is a second-generation solar cell that is created by placing more than one thin film layers of photovoltaic substance on a substrate such as metal, plastic, or glass. Thin-film batteries are solid state batteries that use both solid electrolyte and a solid electrode and are designed for low power single-use applications.
Global thin-film photovoltaic and batteries market Dynamics
The global thin-film photovoltaic and batteries market have seen ample growth from the past decades. The demand for thin-film photovoltaic and batteries are majorly driven by factors such as the growing market for photovoltaic solar cell across the globe and rising use of thin film batteries in renewable energy storage devices. A surge in the adoption of thin film batteries in consumer and wearable electronic, increased production of low cost photovoltaic and batteries, ongoing research and development activities in the field of photovoltaic, rising demand of solar cells for various applications such as telescopes, satellites, electric vehicles and many others, increasing initiatives by the government to adopt energy-efficient technologies and rising introductions of projects such as solar power plant, solar water distillation plants and many others are expected to improve the growth of the market during the forecast period. In addition, the massive presence of thin film photovoltaic and battery manufacturing companies across the world is propelling the growth of the market. However, multi-junction PV cells and low conversion efficiency are major restraining factors that could hamper the growth of the market.
Global Thin Film Photovoltaic and Batteries Market: Segmentation Analysis
By photovoltaic technology, cadmium telluride (CdTe) and copper indium gallium selenide (CIGS) segments dominated the market in 2019 and is projected to witness fast growth at CAGR of XX% during the forecast period. Growing adoption of CdTe and CIGS film technology in various solar PV systems due to its high lab cell efficiency is attributed to the growth of the market. CdTe ad CIGS is accounted for XX% of worldwide PV production and above 50% of the thin film market globally. Increased production of CdTe panels by prominent global manufacturers and growing technological advancements in CIGS in PV technology is expected to improve the growth of the market during the forecast period. Additionally, growing applications of thin film photovoltaic CIGS cells to widen the survival of small unmanned aerial systems is propelling the growth of the market.
By application, building integrated photovoltaic segment is projected to witness fast growth at CAGR of XX% during forecast period. BIPV is a photovoltaic material that is used to replace traditional building construction materials in parts of the building covering such as the facades, skylights, or roofs. Increasing adoption of BIPV for the construction of new buildings as an ancillary or principal source of electrical power, widespread commercialization, and rising government initiatives and announcements regarding BIPV projects is further impelling the growth of the market during the forecast period.
Global Thin Film Photovoltaic and Batteries Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The economies such as China, India, Japan, South Korea, Vietnam, Australia, and rest of the APAC are major key contributors behind the growth of the market. The growth is attributed to the growing photovoltaic market in the countries like China, India, Japan, and Vietnam, among others. The massive presence of photovoltaic cell manufacturing companies across the region, rising government initiatives and investments in PV installations, and growing PV capacity in these countries are driving the growth of the market in the APAC region.
According to the MMR study, it is found that, in 2019, PV developers have installed ~115 GW of new solar power globally and a total of ~ 629 GW of solar was installed all over the globe by the end of 2019. China is the world-leading country in the PV market from the last three years with 30.1 GW of fresh PV capacity, in terms of solar installations. China followed by India with 9.9 GW Japan with 7.7 GW, Vietnam with 4.8 GW, and South Korea with 3.1 GW have dominated the PV market in 2019. The rapid growth of PV capacity, declining prices for storage, rising trend of electric vehicles and developments in the production of green hydrogen, these factors impelling the more demand for thin film photovoltaic in the coming years.
Annual Installed PV Capacity by Country (in 2019, in GW)-
Global Thin Film Photovoltaic and Batteries Market 1
The objective of the report is to present a comprehensive analysis of the Global Thin Film Photovoltaic and Batteries Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Thin Film Photovoltaic and Batteries Market dynamics, structure by analyzing the market segments and projects the Global Thin Film Photovoltaic and Batteries Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Thin Film Photovoltaic and Batteries Market make the report investor’s guide.
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Global Thin Film Photovoltaic and Batteries Market, By Battery Technology
• Thin-film lithium
• Thin-film lithium polymer
• Zinc-based thin-film
Global Thin Film Photovoltaic and Batteries Market, By Photovoltaic Technology
• Cadmium Telluride (CdTe)
• Copper Indium Gallium Selenide (CIGS)
• Dye Sensitized Solar Cells (DSSC)
• Organic photovoltaic
• Amorphous Silicon (a-Si)
Global Thin Film Photovoltaic and Batteries Market, By Battery Type
• Disposable
• Rechargeable
Global Thin Film Photovoltaic and Batteries Market, By Application
• Residential
• Utility
• Consumer electronics
• BIPV
• Grid connected power supply
• Military & space
• Others
Global Thin Film Photovoltaic and Batteries Market, By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Global Thin Film Photovoltaic and Batteries Market, Key Players
Global Players
• Fuji Electric Systems Co Ltd
• Ascent Solar Technologies Inc
• Excellatron
• Blue Spark Technologies
• Cymbet Corporation
• Solyndra
• Avancis
• Mitsubishi Heavy Industries
• Innovalight
• Enfucell
• Power Paper
• Solicore
• Odersun
• HelioVolt
• United Solar Ovonic
• G24 Innovations
• Bosch Solar CISTech
• Nanosolar
• Wurth Solar
• Flexcell
• Konarka
• XX
• XX
North America
• Infinite Power Solutions (IPS)
• Solarmer
• DayStar Technologies
• XX
• XX
Europe
• Heliatek
• SONTOR GmbH
• XX
• XX
Asia Pacific
• Kaneka
• Honda Soltec Co. Ltd
• Dyesol
• XX
• XX
South America & MEA
• SolarNow
• M-Kopa
• XX
• XX
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