The Latin America, Middle East and Africa Thin-Film Photovoltaic Market would witness market growth of 18.0% CAGR during the forecast period (2023-2030).
The quantity of active substances in a cell is decreased via thin-film technologies. A hard substrate consisting of glass, plastic, or metal may be used to support the active layer or a flexible substrate like fabric may be used to create the cell. According to life cycle analyses, thin-film solar cells are typically less expensive than crystalline silicon solar cells and have a less significant environmental impact. They are also perfect for building-integrated photovoltaics because of their thin and flexible nature.
The demand for electricity is also increasing due to growing urbanization. This phenomenon increased demand for solar panels, which fueled demand for thin-film photovoltaic, which drove the industry. The market also benefits greatly from the growth in demand for solar lights for street and road barriers.
In the Latin America region, focusing on 2030 and 2050, the International Renewable Energy Agency (IRENA) created the Renewable Energy Roadmaps Programme, or REmap, to offer solutions for the energy transition at the national and regional levels. Development of Renewable Energy by the League of Arab States (also known as the Arab League) paved the way for regional cooperation to encourage the deployment of renewable energy in the Arab world. This was accomplished by laying the framework for regional cooperation. Through this deployment, the region's installed renewable power generation capacity was pledged to grow to 80 GW in 2030. Hence, these elements will help the regional market grow rapidly.
The Brazil market dominated the LAMEA Thin-Film Photovoltaic Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $255.3 million by 2030. The Argentina market is estimated to witness a CAGR of 18.6% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 17.4% during (2023 - 2030).
Based on Component, the market is segmented into Module, Inverter, and Balance of System (BOS). Based on Material, the market is segmented into Cadmium Telluride, Copper Indium Gallium Selenide (CIGS), Amorphous Silicon (A-SI), Perovskite, Organic PV, Copper Zinc Tin Sulfide (CZTS) and Quantum Dot Thin Film Solar Cells & All-Silicon Tandem. Based on End User, the market is segmented into Utilities, Commercial & Industrial and Residential. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Thin-Film Photovoltaic Market is Projected to reach USD 15.1 Billion by 2030, at a CAGR of 15.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kyocera Corporation, Kaneka Corporation, Mitsubishi Electric Corporation, Sharp Corporationm, Jinko Solar Holding Co., Ltd., Panasonic Holdings Corporation, Emeren Group Ltd. (ReneSola Co. Ltd.), JA SOLAR Technology Co., Ltd., Suntech Power Holdings Co. Ltd., Yingli Solar Co., Ltd.
By Component
By Material
By End User
By Country
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