The
global solar cell films market is drawing much growth from the rising
awareness about the benefits solar cell films offer. Various
initiatives by several governments across the world to encourage the
usage of solar cell films for electricity generation is also fuelling
demand from the market. In 2014, the global solar cell market
reported an overall value of US$9,393.78 million. By 2023, the market
is projected to reach US$20,995.66 million, expanding at a CAGR of
9.4% over the period from 2015 to 2023.
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Solar Cell Films Market Report with Full TOC at
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CdTe
and Commercial Sector to Maintain Dominance among Products Markets
and End Users
In
2014, Cadmium telluride (CdTe) cell films were the highest produced
solar cell films across the world. The CdTe cell films also reported
the highest demand on account of their high efficiency, longevity,
and the low cost of manufacturing compared to other solar cell films.
Analysts expect this market segment to report the highest growth in
the coming years owing to its high capacity to absorb sunlight and
the high rate of electricity generation.
Commercial
sector has emerged as the biggest consumer of solar cells films in
recent times due to the rising usage of electricity in this industry,
particularly in peak hours. The low cost of maintenance associated
with solar cell films compared to nuclear power facilities is the
main reason for the rising uptake of solar cell films in offices,
malls, shopping complexes, and multiplexes.
The
residential sector is also reporting extensive demand for solar cell
films owing to the rising awareness among consumers regarding the
benefits of using solar cell films for electricity generation such as
reduction in GHG emission and cost-benefits it offer. Other than
this, the demand for solar cell films from the industrial sector is
also increasing significantly and is expected to maintain a steady
pace of growth in the near future.
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Asia
Pacific and Europe Reporting Significant Demand for Solar Cell Films,
Poised to Maintain Growth Pace
Asia
Pacific has been reporting significant demand for solar cell films in
the recent past. Europe has also been showing extensive rise in
demand for solar cell films over the last couple of years. The
financial support and subsidies provided by the European governments
has encouraged people and end-use industry to shift to solar cell
films for electricity generation.
On
the other hand, the high demand of electricity from Asian nations
such as China and India, due to large population base and rapid
industrialization, is fueling the solar cell films market in Asia
Pacific. Additionally, the increasing demand for electricity from
emerging economies has propelled the need for alternative as well as
renewable sources of energy such as solar cell films in Asia Pacific.
The
solar cell films markets in North America, South America, the Middle
East, and Africa are also reporting significant development, due to
the rising demand for alternative source of electricity generation
across the globe.
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Press Release Of Solar Cell Films Market
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Low
Efficiency of Second Generation PV Limiting Solar Cell Films Market
Growth
The
low efficiency of the second generation PV systems has negatively
impacted the consumer interest in them, trimming down the demand for
solar cell films, in response. The revised rate of feed-in-tariff is
also posing severe challenge for the global solar cell films market.
However, the commercialization of thin film PV is likely to open new
avenues for the market participants.
DUNMORE
Corp., Stion Corp., Heliatek GmbH, Prism Solar Technologies Inc.,
Kaneka Corp., Solar Frontier K.K., Hanergy Holding Group Ltd., 3M,
Advanced Energy Industries Inc., Lucent CleanEnergy, and First Solar
Inc. are some of the major companies operating in the global solar
cell films market.
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TMR Blog Energy Reports :
http://www.tmrblog.com/search/label/Energy
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Transparency Market Research employs rigorous primary and secondary
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