Efficiency and Low Cost of Second-gen Solar Cell Films Propel Global Market

Transparency Market Research has released a market study, titled “Solar Cell Films Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023”. According to the report, the global solar cells market will expand at a CAGR of 9.40% from 2015 to 2023. If the figure holds true, the valuation of the market will be US$20.9 bn by the end of the aforementioned forecast period; the market stood at US$9.4 bn in 2014.

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Transparency Market Research has released a market study, titled “Solar Cell Films Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023”. According to the report, the global solar cells market will expand at a CAGR of 9.40% from 2015 to 2023. If the figure holds true, the valuation of the market will be US$20.9 bn by the end of the aforementioned forecast period; the market stood at US$9.4 bn in 2014.

The report divides the global solar cell films market on the basis of product type, end use, and geography. By product type, amorphous silicon, copper indium gallium selenide, and cadmium telluride are the segmnets of the market, amongst which cadmium telluride led the overall market in 2014. The reasons for the high demand for cadmium telluride are longer life, low manufacturing cost, and high product efficiency in the range of 16%-18%, which is the highest among solar cells. The efficiency of cadmium telluride is due to its high sunlight absorption power, which in turn accelerates the energy output of these cells, due to which they are preferred over other solar cell films.

Industrial, commercial, and residential are the major end-use segments of the solar cell films market. The commercial sector exhibits the highest demand for solar cell films due to high electricity needs, especially during peak working hours. The advantage of solar cell films for the commercial sector lies in its unlimited capacity of power supply and low maintenance cost, because of which the energy source is viable for offices, malls and multiplexes, and shopping complexes.

To promote the utilization of solar energy in the commercial sector, governments in several countries, especially in countries that are close to the equator and have high-intensity sunlight for a major part of the year, are offering financial incentives and complimentary installations to harness the energy. Attractive feed-in tariffs are also provided for citizens who supply excess electricity to the grid.

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Some major companies operating in the solar cell films market are Heliatek GmbH, 3M, First Solar Inc., and Stion Corporation, among others.

The global solar cell films market has been segmented as follows:

Solar Cell Films Market: Type Analysis

• Amorphous Silicon
• Cadmium Telluride
• Copper Indium Gallium Selenide

Solar Cell Films Market: End-use Analysis

• Residential
• Commercial
• Industrial

Solar Cell Films Market: Region Analysis 

• North America
  • U.S.
  • Canada
  • Rest of North America

• Europe
  • Germany
  • Russia
  • Rest of Europe

• Asia Pacific
  • China
  • Japan
  • Rest of Asia Pacific 

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Middle East 
  • Qatar
  • UAE
  • Rest of Middle East 

• Africa 
  • Egypt
  • South Africa 
  • Rest of Africa