Selbyville, Delaware, Aug. 13, 2019 (GLOBE NEWSWIRE) --

The global thin film solar cell market growth will be propelled by shifting focus of regional governments toward deployment of renewable energy resources.

UAE thin film solar cell market has been witnessing the emergence of huge number of energy players equipped with innovative business models. Despite high solar irradiance across the region, the technology breakthroughs have been transforming the prospects of solar energy across Middle East and Africa.

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Ever expanding commercial as well as industrial sectors across UAE have been significantly boosting thin film solar cell market size. Taking into consideration the environmental constraints of the region, solar panel manufacturers have been introducing a new range of panels which maintain high efficiency. The development of advanced solar panels that are suited for UAE and MEA climatic conditions have been helping the market players expand their regional scope, augmenting the industry outlook.

Thin film solar cell fabrication, characterization, and applications have changed remarkably over the last few years on account of consumer trends. With the increasing awareness pertaining to the use of renewables over fossil fuel sources for energy generation, thin film solar cell companies have been changing their product development strategies. The changing focus of companies to develop customer-centric product ranges will help augment thin film solar cell industry trends.

Based on component, copper indium gallium di-selenide (CIGD) is one of the significant contributors toward increasing thin film solar cell market size. The numerous application benefits associated with CIGD are the major driving factors of this component segment over the last few years.

By Component

  • Cadmium Telluride
  • Amorphous Silicon
  • Copper Indium Gallium Diselenide

CIGD thin film technology possesses high absorption rate enabling the solar devices to achieve highest efficiency. CIGD devices also provide tandem designs which are attracting more consumers. Ever changing manufacturing techniques to enhance the performance of CIGD devices will further propel copper indium gallium di-selenide based market share.

Driven by the high absorption rate, thin film solar cell market share from copper indium gallium di-selenide (CIGS) is projected surpass revenue collection of USD 8 billion the end of 2024.

The involvement of research companies in CIGD photovoltaic projects to overcome the challenges associated with the existing devices is expected to enhance product demand over the coming timeframe.

Regionally, Latin America and Middle East and Africa are notable revenue pockets spanning thin film solar cell market landscape. These regions depict huge business potential for solar cells manufacturers mainly due to growing awareness among the regulators to deploy photovoltaic cells for cost-effective and efficient energy alternatives.

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Brazil is one of the major contributors across LATAM market landscape. The Brazilian government has been working to develop a better solar energy infrastructure by investing more in solar PV projects. High radiation index is one of the prominent factors propelling solar industry across Brazil.

The average capacity factor of PV across Brazil is 20% which is equivalent to 5 kWh/m2/day. Photovoltaic technology has emerged as best economical and technical solution across Brazil pertaining to less local consumption and distributed consumer base. The deployment of policies to support PV technologies will accelerate Brazil thin film solar cell market forecast.

Chile is also another lucrative revenue pocket augmenting Latin America thin film solar cell market outlook. In 2015, Chile accounted for more than 50% regional share of LATAM thin film solar cell industry and is predicted to reach more than 300 MW by the end of 2024. The ample availability of resources along with large untapped industry potential across Chile is poised to strengthen regional market trends over the forecast timeframe.

Speaking more about the regional trends, South Africa thin film solar cell market is slated to emerge as a lucrative business location for the biggies involved in the deployment of solar panels. The surging requirement for thin film solar cell panel will be mainly attributed growing product demand across small scale applications. In 2015, South Africa thin film solar cell witnessed demand for more than 20MW.

What does this report offer?

This thin film solar cell market report covers an in-depth analysis of every segment comprising component, application, connectivity, and regions. The research study facilitates market insights on the market outlook with regards to a number of aspects, such as growth drivers, industry outlook, and regional trends that are transforming the commercialization graph of the business, market segmentation, and global audience analysis.

The study cites that the application segment is further segmented into commercial, utility, and residential. Based on thin film solar cell fabrication characterization and applications, the report covers all the driving factors and regional influencers promoting market share. The important drivers responsible for driving the application segments during the estimated timeframe, share of each sub-segment, and most rapidly expanding business trends are provided in the report.

By Application

  • Residential
  • Commercial
  • Utility

The report claims that the component segment of thin film solar cell market is subdivided into cadmium telluride, amorphous silicon, and copper indium gallium diselenide. The key pointers encompassed pertaining to the component segment are most proliferating trends, share of every subsegment with tabulated market value, monetary forecast over estimated duration.

Browse key industry insights spread across 115 pages with 368 market data tables & 11 figures & charts from the report, “Thin film solar cell Market Size By Component, Connectivity, Application, Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast 2024” in detail along with the table of contents:

A detailed analysis of the connectivity segment of thin film solar cell market is also entailed in the research report. On the basis of connectivity, the market is classified into off-grid and on-grid. The connectivity segmentation comprises a detailed collection of leading driving factors, important market definitions, and industry scope.

By Connectivity

  • On-grid
  • Off-grid

In terms of regional analysis, the market report is classified based on leading geographies. Prominent regional revenue pockets comprise U.S., Mexico, Canada, UK, Germany, France, Spain, China, India, Japan, Australia, UAE, South Africa, Brazil, Chile, and Argentina. Countries are further divided based on consumer base, market contribution, availability of market players, and many other aspects.

The study projects that market is likely to observe substantial growth across Latin America and Africa. The Latin America thin film solar cell market is slated to support remarkable growth, primarily due to the availability of a huge number of consumer base coupled with increasing renewable energy potential across Brazil and Chile.

Thin film solar cell market report also includes a collection of crucial parameters that will help stakeholders in easily undertaking necessary decision-making for expanding business potential. The market research report also covers important information about a number of several industry driving factors, executive summary, SWOT analysis and more.

The research report on thin film solar cell market further provides a detailed industry analysis, pitfalls, challenges, overview of overall worldwide trends, key industry insights on market segmentation. Furthermore, deliverables with regards to the regulatory frame of reference and competitive spectrum have also been elaborated within the study report coupled with the business strategies that are being implemented by the leading players throughout the market landscape.

Table of Contents (ToC) of the report:

Chapter 3     Thin film solar cell Industry Insights

3.1    Industry segmentation

3.2    Industry Size and forecast, 2013 – 2024

3.3    Industry ecosystem analysis

3.4    Vendor matrix

3.5    Innovation & sustainability

3.6    Regulatory framework

3.6.1    U.S.

3.6.2    India

3.6.3    Europe

3.6.4    China

3.7    Price trend analysis

3.8    Industry impact forces

3.8.1    Growth drivers   Growing demand for sustainable energy   Decreasing solar component price   Favorable government initiatives   stringent emission control norms

3.8.2    Industry pitfalls & challenges   Lack of awareness

3.9    Growth potential analysis

3.10 Porter’s analysis

3.11 Competitive landscape, 2015

3.11.1 Strategy dashboard

3.12 PESTEL analysis

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