CIGS Thin-Film Solar Cells Market Key Players, End User, Demand And Consumption By 2026 X Herald

Sunlight is converted into electrical energy using a thin film solar cell called a CIGS, which stands for copper indium gallium selenide. With electrodes on the back and front to collect current, cigs thin film solar cells market are created by depositing a thin layer of indium, copper, selenide, and gallium on a plastic backing or glass. Since CIGS absorbs sunlight strongly and has a high absorption coefficient, a thin film of this material is needed to produce the same amount of electric energy as semiconductor materials.

The thin-film photovoltaic technologies consists of three mainstreams namely amorphous silicon, cadmium telluride and CIGS. Like other materials in the thin-film photovoltaic technologies, CIGS is also flexible, that allows them to get deposited on the flexible substrates. Also the best performance of the solar cells comes from the glass deposited cells, as all the technologies use high temperature depositions.

The performance of polysilicon-based panels are higher than these glass based technologies of solar cells, though advances in CIGS low temperature deposition is trying to erase these performance difference up to a great extent. CIGS Thin-film solar cells market is expected to expand at a healthy CAGR in the forecast period.

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Global CIGS Thin-Film Solar Cells Market: Drivers and Restrains

The increasing market of solar panels and cost efficiency of electricity generated by solar panels as compared to other sources of energy is driving the CIGS thin-film solar cells market.

Also the increased efficiency of CIGS thin film solar cells and the reduced time required to produce the electricity as compared to its counterpart's technologies is further contributing in the growing CIGS thin-film solar cells market. Moreover, the rising concerns amongst people for environmental safety is bolstering the CIGS thin-film solar cells market.

However, the initial high cost of CIGS thin film solar cells and the complexity and technicality associated with its manufacturing can hamper the growth of global CIGS thin-film solar cells market.

Global CIGS Thin-Film Solar Cells Market: Key Players

Some of the key players in the global CIGS thin-film solar cells market are:

• Trina Solar Limited
• Tata Power Solar Systems Limited
• Suniva Inc
• SolarWorld AG
• Pionis Energy Technologies LLC
• JinkoSolar Holding Co. Ltd
• Borg Inc
• Alps Technology Inc
• Itek Energy

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Global CIGS Thin-Film Solar Cells Market: Segmentation

Global CIGS Thin-Film Solar Cells Market: Region Wise Outlook

The global CIGS thin-film solar cells market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. North America is a dominant region in the global CIGS thin-film solar cells market owing to its presence in the energy and power sector. Asia Pacific ranks second in the market share of global CIGS thin-film solar cells market because of the growing electronics and electrical industry.

The flourishing automobiles industry in Europe is the major cause to map this region in the global CIGS thin-film solar cells market. Latin America is also gaining importance in this market due to the investments of this region in the energy and power sector. Middle east and Africa is at a nascent stage in the global CIGS thin-film solar cells market but is anticipated to have a considerable CAGR in the forecasted period.

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Regional analysis includes

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC, S. Africa, N. Africa)

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