Global Thin Film Photovoltaics (PV) market is expected to grow significantly over the forecast period owing to the speedy advancements in thin film technology. The most common types of PV cells used worldwide are thin film PV cells and crystalline silicon. Formerly, market was ruled by crystalline silicon PV cells. However, thin film has gained popularity in the recent past. Thin film PV primarily consists of copper-indium diselenide (CIS), amorphous silicon (a-Si), cadmium telluride (CdTe) and copper indium gallium diselenide (CIGS).
Photovoltaics are also
known as solar cells. They are electronic devices which directly converts
sunlight into electricity. Thin film photovoltaics are made by putting one or
more thin layers of photovoltaic (PV) material on a substrate such as plastic,
metal or glass. Thickness of the film can range from few nanometers to
micrometers. This is relatively thinner than its competitor’s crystalline
silicon solar cells technology which uses wafers up to 200 micrometers. This
permits thin film cells to be lower in weight, flexible and have less friction
or drag. It can be used as a semi-transparent photovoltaic glazing material
that can be plastic-coated on the windows.
Get Free PDF Sample (Including Full TOC,
List of Tables & Figures) @ https://www.millioninsights.com/industry-reports/thin-film-photovoltaics-pv-market/request-sample
Photovoltaics incur
relatively less operating costs and are reliable, safe and can be easily
installed. The quest for economical technology for generating electricity
attracted major investors and corporations towards thin film PV – advanced
technologies industry. The industry witnessed over 100 companies entering into
the market. There was a growing need for thin film PV advanced technologies to
constantly increase its productivity. This led to high energy production and
lower system costs. Manufacturing costs must also be pulled down to attain competitive
pricing. The growth of global thin film photovoltaics – advanced technologies
market is driven by optimal efficiency and low manufacturing costs of PV cells.
There has been an increased
alarm about change in climate and alternative sources of energy, which is
expected to augment the demand for thin film PV – advanced technologies. Higher
yields of thin film photovoltaic for shadow, weak lighting conditions and
installation options that are visually attractive are expected to drive the
industry. Market is poised for growth owing to the incentives and funding
provided by the government for adopting solar energy so as to generate
electricity. Factors such as low consumption of silicon, building mounted
systems, initiatives by the government and the ground emergence may favorably
impact the market growth. The year 2015 saw installations of around 52
gigawatts (GW) of new capacities all over the world.
However, multi junction PV
cells and low conversion efficiency are anticipated to restrain market growth.
Few other factors such as high costs of capital, poor maintenance and poor
installation are expected to create major hindrance for thin film PV – advanced
technologies demand in the market. Global thin film PV – advanced technologies
market is segmented based on its type which includes organic and inorganic
photovoltaics. Based on its application, thin film PV market is segmented into
utility, military, consumer, residential and non-residential sectors.
Furthermore, the utility sector is sub-characterized into power plant
application, industrial applications, military and defense applications. Power
supply connected to the line grid is anticipated to be the market leader of
thin film PV over the forecast period.
The European region has
been leading the market of thin film photovoltaics over the past few years.
Countries such as Italy, Spain and Germany majorly witnessed an increased
demand of solar energy making Europe the market leader. North America and
Europe have been projected to witness a very high growth rate over the forecast
period owing to early adoption of advancements in the technology. Asia Pacific
is also expected to follow North America and Europe as there has been an
increased adoption of semiconductors by the electronics industry. Emerging economies
such as India, China, Africa and Brazil are projected to show their presence in
the market over the next seven years.
Key industry participants
are coming up with innovative techniques to cater to the existing hindrances in
the market. Major industry participants in the thin film PV – advanced
technologies market include Kaneka Corporation, Unisolar, First Solar, Bosh Solar,
Kyocera Corporation, Mitsubishi Electric Corporation, Panasonic Corporation
ReneSola Co. Ltd., Jinko Solar, Yingli Green Treena Solar, Kaneka corporation,
Sharp Corporation, JA Solar Co. Ltd. and Suntech Power Holdings Co. Ltd. In due
course, global thin film photovoltaics –advanced technologies market is
expected to outshine the dominating conventional solar photovoltaic technology.
This will enable the long coveted objective of grid parity.
Know More Insights
@ https://newsonmarketblog.wordpress.com
No comments:
Post a Comment