New York, April 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Flexible Solar Panels Market Size, Share & Industry Trends Analysis Report By Type, By Application, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06249493/?utm_source=GNW
This method produces a substantially thinner product than standard polycrystalline or monocrystalline solar panels. In comparison to traditional solar panels, they are more flexible and lighter, which means that the roof simply needs to support a relatively lighter infrastructure that does not necessitate racks. This lowers the cost of production and installation.
As the unit of measurement to confirm the growth of civilization and a comfortable living environment for people, energy plays a major part in the development of numerous industries. The rapid advancement of technology and the conversion of most fuel-powered equipment to electrical power has raised the demand for clean energy resources.
For instance, the European Union launched a "green deal" scheme in order to access the massive solar roof potential of the European region in order to meet its carbon emission targets by 2050. A data center in Mumbai features one of the biggest buildings integrated with vertical solar PV systems in the world, with a capacity of over 1MW and a facade area of over 5000 square feet.
Photovoltaic (PV) devices turn sunlight directly into electricity. Photovoltaic cells of various sorts are essential components of a PV power system, also called solar cells. These components are integrated and encapsulated to produce a photovoltaic module, which is a mounting structure for grid-connected and off-grid solar panels. Solar energy is also renewable, which aids countries in achieving their policy objectives for reliable, secure, and inexpensive energy, as well as providing power access with less price volatility and promoting social and economic growth.
COVID-19 Impact
The outbreak of the COVID-19 pandemic has substantially devastated economies across the world. Due to the pandemic, various businesses, irrespective of their sizes, were severely demolished. In addition, various governments across the world were forced to impose lockdown in their countries in order to regulate the spread of the COVID-19 infection. Moreover, various countries enforced travel restrictions as well as trade limitations, due to which, the worldwide supply chain was considerably disrupted. The COVID-19 pandemic also had a negative impact on the flexible solar panels market. It had a significant impact on energy systems across the world, as a major reduction in investments was observed. Moreover, production facilities of flexible solar panels were shut, which substantially halted the production of these solar panels.
Market Growth Factors:
Increasing applications of flexible solar panels in various verticals
Flexible solar panels have a number of advantages over traditional solar panels. They can be mounted on low-load supporting roofs that would. The lack of structural elements such as ballasts, or roof penetrations makes installation easier and lowers labor costs. Flexible Thin-Film Applications that are popular due to their toughness and versatility, certain flexible solar panel technologies are particularly well suited to marine applications, such as aboard boats and yachts, where traditional solar panels can not be installed. In addition, there is also a type of ultra-thin film solar panel that can be bent as much as a thin sheet of plastic.
Increased demand for flexible solar panels in remote areas
Flexible thin-film solar panels are prevailing in the market for a long duration. Amorphous silicon, a non-crystalline type of silicon, was used to create the first generation of flexible thin-film photovoltaic (PV) modules. While early generation a-Si thin-film modules were lightweight and flexible, they had a poor power output, with a power efficiency of only 5 to 6%, implying that only 5 to 6% of the sun’s energy was turned into electricity. As a result, the power density was low, necessitating a huge surface to produce a power output comparable to crystalline silicon modules.
More than 73 million households in remote areas across the world get electricity from solar lanterns, solar home systems, and local solar-based micro-grids, instead of a conventional power grid. Off-grid systems and devices provide advanced and enhanced services to those who live in areas without access to centralized electrical grids, as well as helping to spread the usage of renewable energy.
Market Restraining Factors:
Less effective and more fragile in comparison to rigid solar panels
Flexible solar panels are less efficient when compared to rigid panels. While rigid crystalline panels possess increased efficiency, ranging from 16% to 23%, flexible solar panels have efficiencies ranging from 10% to 17%. This is due to the fact that flexible panels’ thin semiconductor films have less material to interact with sunlight. In addition, when compared to crystalline silicon in rigid panels, the semiconductor material utilized in flexible panels displays reduced efficiency.
Flexible solar panels can be easily bent and flexed to an extent. However, excessive bending and flexing might lead the solar cells to shatter. In addition, a solar cell can be cracked with just one bad strike, and cracked cells have a decreased efficiency. Rigid panels feature a glass overlay that can protect them from various elements.
Type Outlook
Based on Type, the market is segmented into Copper Indium Gallium Selenide, Cadmium Telluride, Amorphous Silicon and Others. In 2020, the cadmium telluride segment registered a substantial revenue share of the flexible solar panel market. Thin solar panels are made of different photovoltaic materials than crystalline silicon solar panels. Cadmium telluride is an example of a thin-film solar panel. Thin-film solar panels are extremely thin because the photovoltaic material is printed onto a plastic surface rather than covered between a top and bottom protective layer like many other types of solar panels.
Application Outlook
Based on Application, the market is segmented into Industrial, Residential, Aerospace, Automobile, and Others. In 2020, the industrial segment garnered the largest revenue share of the flexible solar panel market. Low-wattage equipment used in industries, such as lights, cameras, and others, are powered by flexible solar panels integrated into the building. The growing need for flexible solar panels is due to the rising demand for green energy to meet with the surge in the use of electricity-driven heavy-duty machinery and automation in the manufacturing industries.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, Asia-Pacific witnessed the largest revenue share of the flexible solar panel market. The increasing growth of this segment is owing to the increasing consumption of solar panels across the region. Moreover, the regional market is flourishing due to the increasing number of developments across countries like India and China.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hanergy Holding Group Ltd., Enecom Srl, Flisom AG, PowerFilm Solar, Inc., SoloPower Systems, Inc., Solbian Energie Alternative Srl, Sun Harmonics co. ltd., Jinko Solar Holding Co., Ltd., Trina Solar Co., Ltd., and JA Solar Holdings Co., Ltd.
Strategies deployed in Flexible Solar Panels Market
Dec-2021: Jinko Solar came into a partnership with Aldo Solar, the leading supplier of solar energy solutions in Brazil. Through this partnership, the company aimed to grab growth opportunities in Brazil.
Jan-2021: Hanergy Thin Film Power Group signed an agreement with Forest Group, Japanese construction, and solar power conglomerate. Together, the companies focused on optimization in Japan’s photovoltaic market by combining their expertise and rich sectorial experience.
Apr-2020: Flisom expanded its global footprint by establishing its first high-capacity Solar Panel facility, the HUF12.5bn plant in Kecskemet. Through this expansion, the company aimed to support the Hungarian government by leveraging the expertise of Hungarian engineers and skilled workers.
Jun-2019: MiaSolé Hi-Tech, a subsidiary of Hanergy Holding Group introduced an update in the world’s strongest production thin-film solar module, the FLEX-03W solar module. The enhanced flexible ultra-light solar solution version is stronger and delivers up to 540W in only 5.6kg as well as enables solar power generation wherever the sun shines and empowers the next generation of flexible solar technology.
Apr-2019: Alta Devices, a subsidiary of Hanergy Holding Group introduced a new solar solution. The launch aimed to satisfy the specified requirements of unmanned aerial vehicles (UAVs) which can perform as platforms for cellular and IoT connectivity. Moreover, this solution would provide best-in-class features to increase power, reduce weight and offer sufficient safety from the strident environment commonly found in the Earth’s stratosphere.
Mar-2019: Global Solar Energy, a subsidiary of Hanergy Holding Group rolled out an FG-M1 55-watt panel, the latest form factor of its flexible PowerFLEX+ solar panel. The launch aimed to fit more applications like marine, mobile, off-grid, and RV installations. Moreover, the product provides higher performance and efficiency when partly shaded and at lesser than ideal angles to the sun.
Jan-2018: PowerFilm Solar introduced its US-assembled custom crystalline solar solutions under the brand name Soltronix. The launch aimed to offer a small window at US-based assembly companies for the import of tariff-free cells.
May-2017: Flisom AG came into a partnership with Swiss Federal Laboratories for Materials Science and Technology (Empa). The partnership aimed to make sure that the company’s products carry on the cutting edge of solar thin-film offerings.
Scope of the Study
Market Segments covered in the Report:
By Type
• Copper Indium Gallium Selenide
• Cadmium Telluride
• Amorphous Silicon
• Others
By Application
• Industrial
• Residential
• Aerospace
• Automobile
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Hanergy Holding Group Ltd.
• Enecom Srl
• Flisom AG
• PowerFilm Solar, Inc.
• SoloPower Systems, Inc.
• Solbian Energie Alternative Srl
• Sun Harmonics co. ltd.
• Jinko Solar Holding Co., Ltd.
• Trina Solar Co., Ltd.
• JA Solar Holdings Co., Ltd.
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06249493/?utm_source=GNW
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