Portland, OR -- (SBWIRE) -- 11/20/2017 -- Global Thin films photovoltaic Market is estimated to reach $239.8 billion by 2024; growing at a CAGR of 32.3% from 2016 to 2024. Thin films photovoltaic (PV) cells require very little or almost no silicon as compared to crystalline PV cells. Thin films photovoltaic systems are being highly demanded globally owing to its various features such as flexibility, and shorter energy payback times as compared to crystalline PV cells. It gives better performance even in low light conditions, which has increased its dominance in the market.

Rise in energy cost, low manufacturing cost of PV cells, and silicon shortage are the major factors driving the global thin films photovoltaic market. Moreover, increase in environment temperature due to climate change has also moved consumers towards the adoption of photovoltaic (PV) technologies. However, high cost of photovoltaic technologies may hamper the market growth. Technological advancement would provide several growth opportunities for the market in coming years.

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The Global Thin Films Photovoltaic Market is bifurcated by type, component, and application. The segment by type includes organic and inorganic photovoltaic. The component segment is further categorized into thin film PV cells, crystalline silicon PV cells, Tracker, Modules, and Optics. By application, the thin film photovoltaic market is segmented into residential, utility, consumer, military, and non-residential sectors. By component, the thin film PV cells accounted for the largest market share in 2016. Geographically, the market is categorized into North America, Europe, Asia-Pacific and Rest of the world (RoW).

Based on Geography, the market has been segmented into North America, Europe, Asia Pacific and RoW. The U.S., Canada, and Mexico are covered under North America wherein Europe covers Germany, France, UK, Italy, Spain and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.

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Major companies operating in this market are SoloPower Systems Inc., JA solar Co. Ltd., Jinko Solar, Suntech Power Holdings Co. Ltd., Yingli Green Trina Solar, Sharp Corporation, Kyocera Corporation, Panasonic Corporation, Mitsubishi Electric Corporation, and Kaneka Corporation, among others.

The key takeaways from the report

- The report will provide detailed analysis of Thin Films Photovoltaic Market with respect to major segments such as type, component and application

- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024

- Comprehensive analysis of market dynamics including factors and opportunities is included in the report

- An exhaustive regional analysis of Thin Films Photovoltaic Market will be provided in the report

- Profile of the key players in the Thin Films Photovoltaic Market will be provided, which include key financials, product & services, new developments and business strategies

Scope of Thin Films Photovoltaic Market

Type Segments

- Organic Photovoltaic
- Inorganic Photovoltaic

Component Segments

- Thin Film PV cells
- Crystalline silicon PV cells
- Tracker
- Modules
- Optics

Application Segments

- Residential sector
- Utility
- Consumer
- Military
- Non-residential sector

Geographical Segments

- North America

o US
o Canada
o Mexico

- Europe

o Germany
o France
o United Kingdom
o Spain
o Others

- Asia-Pacific

o China
o India
o Japan
o South Korea
o Others

- RoW

o South America
o Middle East
o Africa

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