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$ 4.57 Billion Growth in Global Thin Film Solar PV Modules Market During 2021-2025 | Featuring Key Vendors Including Antec Solar GmbH, Ascent Solar Technologies Inc., and First Solar Inc. | Technavio

·4 min read

NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Technavio announces the release of its latest report on the thin film solar PV modules market. The market is segmented by technology (Cadmium Telluride and Copper Indium Gallium Di-Selenide) and geography (APAC, Europe, MEA, North America, and South America). Get a Free Sample Report Delivered Instantly

Thin Film Solar PV Modules Market - Forecast and Analysis 2021-2025
Thin Film Solar PV Modules Market - Forecast and Analysis 2021-2025

The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.

Thin film solar PV modules Market: Key Findings

  • Thin film solar PV modules market value to grow by USD 4.57 billion at over 8% CAGR during 2021-2025

  • 50% of market growth to originate from North America during the forecast period

  • Based on the technology, the Cadmium Telluride segment will offer maximum opportunities for vendors during the forecast period

  • Thin film solar PV modules market is expected to have a negative impact due to the spread of COVID-19

Thin Film Solar PV Modules Market: Growth Drivers

The reduced quantity of silicon required for manufacturing is one of the prime factors driving the growth of the market. The growing shortage of silicon materials has affected the production of solar panels worldwide. This is driving many solar companies to focus on the development of thin solar films that require silicon in lesser quantities than that of conventional solar panels. Although thin-film solar panels are less efficient compared to traditional solar PV panels, their lower installation costs will offset output losses. All these factors are expected to have a positive impact on the growth of the global thin film solar PV modules market during the forecast period.

"Increasing investments in renewable energy and rising solar PV installations will further boost market growth during the forecast period", says a senior analyst at Technavio.

Develop Smart Strategies for Your Business: Get a Free Sample Report Now!

Thin Film Solar PV Modules Market: Major Vendors

Antec Solar GmbH
Antec Solar GmbH operates its business through the Unified segment. The company provides customer-specific PV modules for BIPV systems and special applications.

Ascent Solar Technologies Inc.
Ascent Solar Technologies Inc. operates its business through segments such as Space, Aerospace, Government and Public sector, and Consumer and OEM. The company offers Copper-Indium-Gallium-Selenide photovoltaic technology on a flexible, plastic substrate that easily integrates with other surfaces.

First Solar Inc.
First Solar Inc. operates its business through segments such as Modules and Systems. The company designs and manufactures CdTe solar modules that convert sunlight into electricity.

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Related Reports on Utilities Include:
Global Solar PV Backsheet Market
– Global solar PV backsheet market is segmented by product (fluoropolymer and non-fluoropolymer) and geography (APAC, Europe, MEA, North America, and South America). Get an Exclusive Free Sample Report

Global Residential Solar PV Systems Market – Global residential solar PV systems market is segmented by technology (crystalline-silicon and thin-film) and geography (APAC, Europe, North America, MEA, and South America). Get an Exclusive Free Sample Report

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Email: media@technavio.com
Website: www.technavio.com/
Newsroom: https://www.technavio.com/news/thin-film-solar-pv-modules-market

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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SOURCE Technavio