Global CIGS Thin Film Solar Cells Market by Type (1-2 Micro Meters, 2-3 Micro Meters, 3-4 Micro Meters), By Application (Automobiles, Electronics And Electrical, Energy And Power, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Up Market Research published a new report titled “CIGS Thin Film Solar Cells Market research report which is segmented by Types (1-2 Micro Meters, 2-3 Micro Meters, 3-4 Micro Meters), By Applications (Automobiles, Electronics And Electrical, Energy And Power, Others), By Players/Companies Trina Solar, Tata Power Solar Systems, Suniva, SolarWorld, Pionis Energy Technologies, JinkoSolar Holding, Borg, Alps Technology, Itek Energy”. As per the study, the market is expected to grow at a CAGR of XX% in the forecast period.

The global CIGS thin-film solar cells market is projected to reach USD 1.83 billion by 2028, at a CAGR of 23.1% from 2021-2028. The North American region is expected to dominate the market during the forecast period due to growing demand for renewable energy in this region and less investment in R&D activities for the development of new products in Europe.

CIGS thin films are made of copper, indium (In), gallium (Ga), and selenide. They have a layered structure that looks like onion peelings with alternating layers of crystalline silicon or amorphous silicon as the electron conductor and an organic semiconductor material such as pentacene for hole conductivity. The final product is typically deposited on a glass substrate using chemical vapor deposition techniques to form photovoltaic cells.

For application in solar energy systems, CIGS materials can be used alone without any other type of substance because they don't require a metal electrode or heat-resistant substrates like those required by some types of silicone-based PV technologies based on polysilicon deposited onto glass.

On the basis of type, the CIGS thin-film solar cells market is segmented into one-two micrometers, two-three micrometers, and three-four micrometers.

One-two micrometers

The one-two micrometer CIGS thin-film solar cell is made of indium, gallium, and sulfur on a glass substrate with small particles of cadmium selenide or mercury telluride. The one-two micrometer CIGS thin-film solar cell converts about 14% of sunlight into electricity on average when focused at 75 degrees Celsius because it reflects less than 20% ultraviolet and infrared. This type can be used in the construction industry as well because it does not need to be installed directly onto an exterior surface like other types such as silicon cells that are more fragile and cannot withstand adverse weather conditions.

Two-three micrometers

A two-three micrometers CIGS thin-film solar cell is manufactured by inserting a copper indium gallium selenide material in between layers of silicon and then applying an optical coating to the surface. The main advantage of this type of cell is that it can be mass-produced using current technology whereas other types, such as quantum dot ones, could not since they require more sophisticated production techniques.

Three-four micrometers

Three-four micrometers thin-film solar cells are a type of CIGS (copper, indium, gallium, and selenide) technology that is manufactured by sputtering copper onto an amorphous silicon substrate. Coating the surface with silver or aluminum increases the performance of these devices in low light conditions. Three-Four micrometers (µm) CIGS thin-film solar cell technologies have been available since the early 2000s but it was only recently that they were introduced on a commercial level with prices at par or lower than silicon equivalents.

on the basis of application, the CIGS thin-film solar cells are used in automobiles, electronics & electricals applications, energy & power sectors.

Automobiles

CIGS thin-film solar cells are used in automobiles as the component of photovoltaic modules. They can be found mainly on roofs, hoods, and trunks of cars. CIGS thin-film solar cells are the semiconductor of choice in applications where a very specific wavelength range is needed, such as those that require short wavelengths. The use of CIGS for automobiles has grown significantly over recent years and it is expected to continue growing at an accelerating rate. Thin-film photovoltaic technologies have been used by major automobile manufacturers since 2010 when Audi installed them on its Avante model with a peak power output between 30 and 70 W.

Electronics and Electricals

CIGS thin-film solar cells are used in the electronics and electricals industry, for applications such as photovoltaic modules. These products can be found on automobiles (e.g., Tesla), handheld devices like smartphones or tablets, airplanes, boats, and even satellites. The use of CIGS panels is increasing because they require less space than other panel types to generate an equivalent amount of energy. They also produce more electricity during hot days when many types of silicon-based panels may not work very well due to their inability to handle the heat from direct sunlight better than CIGS ones do.

Energy and Power sector

CIGS thin-film solar cells are used in the energy and power sector. They can be installed as standalone structures or integrated with other technologies, such as photovoltaic systems, to generate electricity at a lower cost per watt than crystalline silicon PV panels. CIGS thin films are also often combined with antireflection coatings for improved efficiency. A few types of applications include grid-connected rooftop installations that produce renewable energy; building integrated photovoltaic (BIPV) which is an architectural design where buildings have their outer walls covered with solar cells; off-grid remote areas without access to the electrical grid by using either stand-alone modules or hybrid systems made up of both PV and battery storage devices; and solar-powered street lights.

On the basis of region, the global CIGS thin-film solar cells market is segmented into North America, Europe, and the Asia Pacific.

The European CIGS thin-film solar cells market is anticipated to hold a dominant share in the global CIGS thin-film solar cells market. This can be attributed to the rapid adoption of renewable energy and strict environmental regulations that mandate the use of clean sources for power generation. In addition, North America will grow at a moderate rate during the forecast period owing to the increasing adoption of solar panels in the residential and commercial sectors.

The global CIGS thin-film solar cells market is projected to grow at a significant rate during the forecast period owing to the increasing adoption of clean sources for power generation. This can be attributed to growing demand from developing countries such as India and China where low-cost electricity solutions are required by their vast population.

India will witness an increase in adoption due to its focus on renewable energy and the inclusion of large-scale projects under the National Solar Mission 2020 (NSM). NSM aims at generating 20 GWs by 2022. There has been substantial growth witnessed across all segments of the global CIGS thin-film solar cells market over recent years, with the Asia Pacific expected to have high growth prospects due to increasing demand for low-cost electricity.

Growth Factors

The factors such as the rise in investment for green energy, favorable government policies, and technological advances are boosting this demand. Countries like India and China have been running on renewable power sources which will provide further opportunity for these cell manufacturers globally.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global CIGS Thin Film Solar Cells Market Report Segments:

The market is segmented by Type 1-2 Micro Meters, 2-3 Micro Meters, 3-4 Micro Meters and By Application Automobiles, Electronics And Electrical, Energy And Power, Others.

Some of the companies that are profiled in this report are:

1. Trina Solar
2. Tata Power Solar Systems
3. Suniva
4. SolarWorld
5. Pionis Energy Technologies
6. JinkoSolar Holding
7. Borg
8. Alps Technology
9. Itek Energy

CIGS Thin Film Solar Cells Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the CIGS Thin Film Solar Cells Market

Overview of the regional outlook of the CIGS Thin Film Solar Cells Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The CIGS Thin Film Solar Cells Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of CIGS Thin Film Solar Cells Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. 1-2 Micro Meters

                2. 2-3 Micro Meters

                3. 3-4 Micro Meters

                1. Automobiles

                2. Electronics And Electrical

                3. Energy And Power

                4. Others

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the CIGS Thin Film Solar Cells Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
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• Business Expansion Strategies
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• Understanding Competition Scenario
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Reasons to Purchase the CIGS Thin Film Solar Cells Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.