According to a new report, published by KBV research, The Global Thin-Film Photovoltaic Market size is expected to reach $15.1 billion by 2030, rising at a market growth of 15.6% CAGR during the forecast period.
The Inverter segment would exhibit a CAGR of 16.1% during (2023 - 2030). Improved energy production and dependability in hot climes are made possible by thin-film PV inverters' ability to maintain a more constant and stable output even at high temperatures. Extreme heat or cold is not a problem for thin-film PV inverters because they can function effectively in various temperatures. Due to their adaptability, they can be installed in various climatic and geographic conditions.
The Cadmium Telluride segment acquired maximum revenue share in the Global Thin-Film Photovoltaic Market by Material in 2022; thereby achieving a market value of $4.3 billion by 2030. The production of efficient solar cells uses cadmium telluride (CdTe) thin-film photovoltaic cells, which require little water, emit minimal carbon emissions, and take a short time to produce the rated quantity of energy. Since cadmium is a byproduct of the smelting, mining, and refining of lead, zinc, and copper, it is possible to produce inexpensive CdTe thin film solar cells.
The Commercial & Industrial segment would experience a CAGR of 16% during (2023 - 2030). Businesses, financial institutions, educational institutions, companies, manufacturing facilities, hospitals, lodging facilities, and other structures fall under the commercial and industrial sectors. To promote the use of photovoltaic (PV) panels in industrial and commercial settings, the government implements various incentive programs and strategic analyses. Thin-film photovoltaics are frequently used in these settings to produce affordable solar electricity and can resist fluctuating loads like strong winds.
The Asia Pacific region dominated the Global Thin-Film Photovoltaic Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.2 billion by 2030. The Europe market is poised to grow at a CAGR of 15.4% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 15.1% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/thin-film-photovoltaic-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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