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Thin Film Photovoltaics Market Share

Report ID: GMI9923
Published Date: Jun 2024
Report Format: PDF

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Thin Film Photovoltaics Market Share

First Solar, Inc. and Solar Frontier K.K. hold a share of over 10% in the thin film photovoltaics market. First Solar, Inc. focuses on CDTE technology and ongoing innovation, maintaining a substantial market position in the thin film photovoltaics industry. It is one of the world's biggest producers of thin-film photovoltaic modules, renowned for its highly efficient products, affordable solutions, and sophisticated manufacturing techniques. The company's substantial R&D expenditures have improved the efficiency and robustness of its CDTE solar panels significantly, offering a competitive and alluring substitute for conventional silicon-based panels.

Solar Frontier K.K., a division of Showa Shell Sekiyu K.K. and a major participant in the thin film photovoltaics industry, commands a sizable market share owing to its knowledge of CIGS technology. Its modules offer great resistance to high temperatures, high conversion efficiency, and superior performance in low light, making them well-suited for a wide range of environmental circumstances. The company’s strategic R&D investments have enabled ongoing improvements in CIGS technology.

Thin Film Photovoltaics Market Companies

Major players operating in the thin film photovoltaics industry are:

First Solar, Inc.
Solar Frontier K.K.
Hanergy Thin Film Power Group
MiaSolé Hi-Tech Corp.
Ascent Solar Technologies, Inc.
Solibro GmbH
Global Solar Energy, Inc.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Industry size for thin film photovoltaics was USD 7.14 billion in 2023 and is projected to expand at over 16.5% CAGR from 2024 to 2032, due to urbanization and infrastructural development.

The transparent technology segment in the thin film photovoltaics industry is projected to expand at over 15% CAGR from 2024 to 2032, as these films can be fitted effortlessly into windows, facades, and other building features without impeding views or changing the aesthetics.

The cadmium telluride (CDTE) material segment in the thin film photovoltaics industry is projected to surpass USD 950 million by 2032, as they provide excellent efficiency and inexpensive manufacturing costs.

Asia Pacific industry accounted for over 35% share in 2023 and is estimated to depict substantial gains between 2024 and 2032, due to the strong commitment to adopting renewable energy sources, fast industrialization, and urbanization in the region.