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A report on Thin Film Solar Collector Market was added by Kenneth Research which covers the market size and growth over a span of 9 years, i.e., over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Thin Film Solar Collector Market Products.
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As per the statistics recorded by the U.S. Energy Information Administration, the investments in solar PV and wind energy increased by about 15% from 2010 to 2018 in the United States. This increased expenditure in the industry is predicted to be observed as a result of rising corporate procurement in the region and in this sector.
The thin film solar cell is 2nd generation solar cell mainly consists of thin film (TF) of photovoltaic material on a substrate such as glass, plastic or metal. Thin film solar cells uses different technologies including Cadmium Telluride (CdTe), Copper indium gallium diselenide (CIGS) and amorphous thin film silicon (a Si, TF Si). Film thickness might vary from a few nanometres to tens of micrometres which makes it more flexible and light weight. Its commercial is used as rigid thin film solar collector where the material is sandwiched between 2 glasses and is much more compact. This is due to reduction in the amount of material used in the cell. It can be estimated that with the rate of growth in technology the annual production is targeted at 500GW in 2022 compared to the 40GW of production in 2013. It is a billion dollar market which is growing continuously with the demand for alternative source of energy.
Market Dynamics
Increasing energy Demand across the globe is the prime driver for the rapid production and demand for this kind of products. A lot of research has been going on in this field to make the production easier and smaller and customer friendly. With fossil fuel prices fluctuating and the recent disasters like Fukushima and Chernobyl have questioned the use of nuclear energy as a renewable source. On the other hand the environmental concerns created by hydro power has also been a major issue. So making the TF solar collector as the renewable source of energy due to its environmental friendly feature and easy availability. Third driver is the maintenance cost. The initial investment cost is quite high but after that the investment and maintenance cost is low or negligible.
Although the growth of the Thin Film Solar Collector Market is considerably high, there are still some constraints on the market. The major constraints to the product as mentioned before is the high initial costs bore by the customer. This is due to increasing demand of product in shorter time and availability of relevant technology to make it. There are other concerns relating to intermittent energy source which can be solved by connecting the solar panel to the grid so excess power can be saved and can be used afterwards. Available technology has been one of the constraint to the industry but with recent research in the ongoing field is to increase the efficiency of the solar panels which used to have a meagre efficiency percentage, with the help of technology like Nano-crystalline solar cells, thin film processing, metamorphic multijunction solar cell etc.
The global solar power production has increased from 7 MW to 40 MW in 2013 is going to be 500 MW in 2022 which shows the amount of opportunity this product in the industry. Solar is the largest source of energy on the Earth i.e it receives around 174 Petawatts of solar energy per year. By using this energy, solar energy farms can established which can harness electricity and produce on large scale by providing to a grid. According to Mordor intelligence that production of solar cells for small scale activities like solar powered cars or motors has increased exponentially over the years.
Market Segmentation
The market can be segmented on the basis of the geography, type of the product which is available. Taking into account the geographical analysis, by end of 2016 China was considered to be leading player in production of solar cell market followed by Germany and USA. In terms of installation of photovoltaic across country China lead the pack followed by Japan, Germany, USA and Italy.
Thin film solar collectors market by geography:-
This is done with respect to the production as well as installation of Solar cells in different regions.
North America
a. USA and Canada
b. Mexico
Asia Pacific
a. Japan, China and Philippines
b. South Korea
c. Australia
d. India and Thailand
Europe
a. Germany and Italy
b. UK, France and Spain etc
South America
a. Chile
Middle East and Africa
a. Israel and Turkey
b. Algeria and South Africa
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Thin film solar collector market by type:-
This is mainly categorized on the basis of which photovoltaic material is deposited onto the substrate.
Amorphous silicon (a-Si)
Cadmium telluride (CdTe)
Copper indium gallium selenide (CIS/CIGS)
Organic photovoltaic cells (OPC)
Major or Key Players present in the industry:
Wuxi Suntech Power Co., Ltd.
First Solar Inc
Juwi Solar, inc.
SolarCity Corporation.
Activ Solar GmbH
Yingli Solar
Trina Solar Limited
Sharp Solar Energy Solutions Group
Canadian Solar Inc.
JinkoSolar Holding Co., Ltd
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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About Kenneth Research:
Kenneth Research is a multi-client market research database that aims at providing reports that help industry professionals including various individuals and organizations to identify the market trends and scope, thereby making it easier for them to take decisions and form strategies after complete assessment of the market. The various industries catered by the company include healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence and several others. Being a global market research reselling firm, Kenneth Research provides strategic business consultancy services at a global level and offers a single platform for the best market research reports.
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