Thin-Film Photovoltaic Market

Thin-Film Photovoltaic Companies - First Solar (US), Kaneka Corporation (Japan) and Ascent Solar Technologies (US) are the Key Players

The thin-film photovoltaic market is projected to grow from USD 5.3 billion in 2023 to USD 11.2 billion by 2028, registering a CAGR of 16.0% during the forecast period. Increasing initiatives of governments towards thin-film solar cells and growing adoption of thin-film solar cell in residential applications are expected to propel the thin-film photovoltaic market in the next five years. However, the high installation cost and lack of skilled work force for PV installation will likely pose challenges for the industry players.

Key players operating in the market include First Solar (US), Kaneka Corporation (Japan), Ascent Solar Technologies (US), Oxford PV (UK), Hanwha Q CELLS (South Korea), Sharp Corporation (Japan), JA Solar Technology Co. Ltd (China), MiaSole (US), AVANCIS GmbH (Germany), Solbian (Italy), among others. Major strategies adopted by top players to enhance their product portfolios, increase their market share, and expand their presence in the market include new product launches and deals such as acquisitions and partnerships.

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First Solar designs, manufactures, markets, and distributes PV solar power systems and modules. The company operates its business via two reportable segments—Modules and Others. The Modules business segment involves the design, manufacture, and sale of CdTe solar modules. The company offers PV systems through its Modules business segment. The company offers PV modules, namely Series 6 and Series 6 Plus. The PV modules provided by First Solar have a maximum power of 450 W.

Kaneka Corporation is actively involved in the photovoltaic (PV) industry, specifically in the development and production of solar panels and related materials. Kaneka's involvement in the PV sector primarily focuses on producing advanced thin-film solar modules. Kaneka produces thin-film solar modules based on copper indium gallium selenide (CIGS) technology. CIGS is a thin-film photovoltaic material known for its high efficiency and flexibility. Kaneka's CIGS solar modules offer advantages such as lightweight design and enhanced performance under low-light conditions.

Ascent Solar Technologies is one of the leading providers of CIGS (Copper-Indium-Gallium-Selenide) solar technology with 40 years of R&D and a patent portfolio in solar technology.  The company’s patented monolithic integration process enables a high level of flexibility, efficiency, durability & weight savings, revolutionizing how solar power can be used in everyday life. Ascent Solar Technologies is known for its flexible, lightweight, and thin-film solar modules. These modules are made using a proprietary technology called CIGS (Copper Indium Gallium Selenide), which allows for flexibility and adaptability to various surfaces.

Related Reports:

Thin-Film Photovoltaic Market by Material (Cadmium Telluride (CDTE), Amorphous Silicon (A-SI), Perovskite, Copper Indium Gallium Selenide (CIGS), Organic PV, Copper Zinc Tin Sulfide (CZTS), Component (Module, Inverter, BOS) - Global Forecast to 2028

Mr. Aashish Mehra
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Thin-Film Photovoltaic Market Size,  Share & Growth Report
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