Global Solar cell films Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Solar Cell Films Market by type and by end user: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the solar cell films market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe dominates the solar cell films market, in terms of value, and is expected to maintain this trend throughout the forecast period.
Solar cell is an electric device which converts light directly into electricity by photovoltaic effect.
Governments support in term of providing financial incentives such as subsidy in various countries to promote utilization of solar energy which result in higher demand of the market.
Increasing rate of non-renewable source of energy result in increasing adaptation of renewable energy such as solar cell, this drives the growth of the market.
Raising environmental concern throughout the globe increases the research activity in field of solar cell this helps to developed innovative product and expansion of the solar cell films market.
Increasing awareness of advantages towards use of the solar cell such as rise in energy consumption, convenient installation and performance efficiency are resulting increasing number of adaptation.
High initial cost and technological problem related with film solar cell can inhibit the growth of this market.
• Cadmium telluride dominates the solar cell films market owing low manufacturing cost, high product efficiency and longer life.
• In segmentation by end user, commercial contributed for higher market share due to high electricity need.
• Europe accounted for major share in this market as high number of solar cell installation are seen in courtiers such as Germany, France and Russia.
• Asia-Pacific is anticipated to grow at highest arte due to rising populationand industrialization.
The major companies profiled in the report include: 3M, Advanced Energy Industries, Inc., DUNMORE Corporation, First Solar, Inc., Hanergy Holding Group Ltd., Heliatek GmbH, Kaneka Corporation, Lucent CleanEnergy, Prism Solar Technologies, Inc and Solar Frontier K.K.
Solar cell films market is segmented on the basis of type and end user. Cadmium telluride segment is highest contributor to market due to ability of high sunlight absorption power, which result in increased in output. Along with this longer life, high product efficiency and low manufacturing cost are some of the factors responsible. In the segmentation by end user, commercial segment accounted for the major share due to high energy need and consumption.
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