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First Solar, Inc. and Ascent Solar Technologies, Inc. hold a significant share of over 20%. First Solar, Inc. is a global provider of PV solar energy solutions, with a focus on advanced thin-film solar cell technology. It has established itself as a prominent player in the solar industry, particularly in the Utilities-scale solar market.
Ascent Solar Technologies, Inc. is a U.S.-based company focused on the development and commercialization of next-generation thin-film PV solar modules. The company has proprietary flexible Copper Indium Gallium Selenide (CIGS) solar technology, which offers lightweight, durable, and flexible solar panels suitable for a variety of applications.
Major players operating in the next-generation solar cell industry are:
Next-generation solar cell industry from the on-grid segment held over 55% share in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to growing demand for electricity in urban areas served by established electricity grids.
Asia Pacific next-generation solar cell industry is expected to register over 21% CAGR from 2024-2032 due to growing adoption of PV modules and next-generation solar energy solutions in countries, such as China, Japan, and India in the region.
The market size of next-generation solar cell was crossed USD 3.5 billion in 2023 and is expected to register over 19.5% CAGR from 2024-2032 owing to rising demand for energy-efficient solutions, improved conversion efficiency, and enhanced durability for maintaining long-term performance worldwide.
First Solar, Inc., Ascent Solar Technologies, Inc., Oxford Photovoltaics Ltd., Hanwha Group, Mitsubishi Corporation, Hanergy Thin Film Power Group, and Heliatek, are some of the major next-generation solar cell companies worldwide.