CIGS Thin-Film Solar Panel Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

A thin solar cell sheet called a copper indium gallium selenide (CIGS) solar cell is used to convert sunlight into electrical power. With electrodes in front and back to collect the current, it is made by depositing a thin layer of indium, copper, gallium, selenium, and selenide on a plastic or glass back. The substance effectively absorbs sunlight due to its high absorption coefficient. Based on cadmium telluride, copper indium gallium selenide, and amorphous silicon, there are three common thin film technologies. Like other thin film photovoltaic systems, CIGS is adaptable. This makes it easier to mount it on a flexible support.

MARKET DYNAMICS

The demand for CIGS thin-film solar panels is being driven by the expanding solar panel market and the power produced by solar panels' lower cost as compared to other energy sources. Additionally, the CIGS thin-film solar panel market is expanding due to the enhanced efficiency of these solar cells and the shorter time needed to generate energy when compared to competing technologies. Additionally, the market for CIGS thin-film solar panels is being supported by people's growing worries about environmental safety.

MARKET SCOPE

The "Global CIGS Thin-Film Solar Panel Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The CIGS thin-film solar panel market report aims to provide an overview of the CIGS thin-film solar panel market with detailed market segmentation by film thickness, deposition technique, end use, and geography. The global CIGS thin-film solar panel market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading CIGS thin-film solar panel market player and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global CIGS thin-film solar panel market is segmented based on film thickness, deposition technique, end use. Based on film thickness, the CIGS thin-film solar panel market is segmented into 1-2 micro meters, 2-3 micro meters, 3-4 micro meters. Based on deposition technique, the CIGS thin-film solar panel market is segmented into electrospray deposition, chemical vapour deposition, coevaporation, film production. Based on end use, the CIGS thin-film solar panel market is segmented into automotive, electronics and electrical, energy and power, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global CIGS thin-film solar panel market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The CIGS thin-film solar panel market by each region is later sub-segmented by respective countries and segments. The CIGS thin-film solar panel market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the CIGS thin-film solar panel market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the CIGS thin-film solar panel market in these regions.

IMPACT OF COVID-19 ON CIGS THIN-FILM SOLAR PANEL MARKET

The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global CIGS thin-film solar panel market. The supply chain disruptions influenced the decline in demand for CIGS thin-film solar panel. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturers of CIGS thin-film solar panel thereby impacting the growth of the global CIGS thin-film solar panel market.

MARKET PLAYERS

The reports cover key developments in the CIGS thin-film solar panel market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from CIGS thin-film solar panel market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the CIGS thin-film solar panel market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the CIGS thin-film solar panel market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   NICE Solar Energy GmbH
  
•   Tata Power Solar Systems Limited
  
•   Suniva Inc
  
•   SolarWorld AG
  
•   Pionis Energy Technologies LLC
  
•   JinkoSolar Holding Co. Ltd
  
•   Borg Inc
  
•   Alps Technology Inc
  
•   Itek Energy
  
•   Trina Solar Limited.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

CIGS Thin-Film Solar Panel Report Scope