What Has Been the Progress and Growth of the ThinFilm Photovoltaics PV Module Market in Recent Years?
The thinfilm photovoltaics pv module market has seen considerable growth due to a variety of factors.
• In previous years, the thin-film photovoltaics (PV) module market has demonstrated significant growth. It is projected to further grow from $9.94 billion in 2024 to $10.50 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.6%.
The growth observed in the historical period could be linked to the escalation of government initiatives, the expanded usage of thin film solar cells, larger investments in renewable energy, the rising appeal of conventional silicon solar cells, and the levy of tariffs on c-Si solar panels.
What Is The Expected Growth In The ThinFilm Photovoltaics PV Module Market Size Evolve over the Forecast Period?
The thinfilm photovoltaics pv module market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the thin-film photovoltaics (PV) module is predicted to witness robust progress in the coming years, reaching $12.94 billion by 2029, advancing at a compound annual growth rate (CAGR) of 5.4%.
This development during the projection period can be linked to the escalating demand for traditional silicon solar cells, enhanced sponsorship and focus from worldwide governments, amplified emphasis on sustainability and ecological concerns, as well as global urbanization. Prominent trends expected during this period involve the assimilation of thin-film solar cells, continuing advancements in technology, fresh product introductions and progressions, the integration of flexible and lightweight designs, along with technological evolutions.
What Main Forces Are Fueling Expansion In The ThinFilm Photovoltaics PV Module Market?
The escalating focus on renewable energy is anticipated to drive the thin-film photovoltaic (PV) module market in the future. Renewable energy is energy derived from natural sources, for example sunlight, wind, rain, tides, geothermal heat, and biomass. Their replenishment is natural and they have a minimal impact on the environment. The rising focus on this type of energy results from factors such as the increasing requirement for Eco-friendly energy solutions, worries about climate change, the advancement of clean energy technologies, policies of government that promote green energy, and the worldwide push towards the reduction of carbon emissions. For the development of renewable energy, thin-film photovoltaic (PV) modules offer an affordable and efficient method for harnessing solar power. They allow an easy integration into a range of applications, like building facades and portable devices. Additionally, they help reduce the carbon footprint and further the global shift to sustainable energy sources. For instance, the European Environment Agency, a Denmark-based government agency, reported in January 2025 that in 2023, the share of renewable energy in the EU increased to 24.5%, a 1% point increase from 2022. Moreover, in June 2023, the US-based government agency, the Energy Information Administration, stated that consumption of renewable energy rose from 12.1 quads in 2021 to 13.2 quads in 2022 in the United States. As such, the growing focus on renewable energy fuels the thin-film photovoltaic (PV) module market.
What Are The Primary Segments In The Global ThinFilm Photovoltaics PV Module Market?
The thin-film photovoltaics (PV) module market covered in this report is segmented –
1) By Type: Rigid, Flexible
2) By Component: Module, Inverter, Balance Of System
3) By Material: Cadmium Telluride, Amorphous Silicon, Copper Indium Gallium Selenide, Perovskite, Organic Photovoltaic, Copper Zinc Tin Sulfide, Quantum Dot Thin-film Solar Cells, All-silicon Tandem Solar Cells
4) By Application: Building Integrated Photovoltaics, Rooftop Applications, Utility-Scale Applications
5) By End User: Residential, Commercial And Industrial
Subsegments:
1) By Rigid: Amorphous Silicon (a-Si) Modules, Cadmium Telluride (CdTe) Modules, Copper Indium Gallium Selenide (CIGS) Modules, Perovskite-Based Modules, Hybrid Thin-Film Modules
2) By Flexible: Roll-To-Roll Processed Modules, Lightweight Polymer-Based Modules, Transparent Thin-Film Modules, Printed Photovoltaic Modules, Wearable Solar Modules
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How Are New Trends Impacting The Size Of The ThinFilm Photovoltaics PV Module Market?
Major companies operating in the thin-film PV module market are focusing on advancements in bifacial solar technology, such as transparent back contact technology, to enhance energy yield and efficiency, providing sustainable and high-performance solar solutions that contribute to the global transition to renewable energy. Transparent back contact technology is an innovative design that allows infrared light to pass through the back of a solar module, reducing heat absorption and enabling bifacial energy generation for improved efficiency. For instance, in June 2023, First Solar Inc., a US-based solar company, launched its fully functional bifacial thin-film PV modules at Intersolar Europe, marking the first-ever bifacial solar panel utilizing advanced thin-film CdTe semiconductor. The new Series 6 Plus Bifacial module combines the company's high-efficiency monofacial technology with bifaciality, offering improved energy yield and durability for renewable energy applications.
Who Are the Key Players In The ThinFilm Photovoltaics PV Module Market?
Major companies operating in the thin-film photovoltaics (PV) module market are:
• 3M Company
• Sharp Corporation
• JA Solar Technology Co. Ltd.
• KANEKA Corporation
• First Solar Inc.
• Hanergy Thin Film Power Group Limited
• United Solar Ovonic LLC
• AVANCIS GmbH
• PowerFilm Inc.
• Solar Frontier Kabushiki Kaisha
• MiaSole Hi-Tech Corp.
• Heliatek GmbH
• Flisom AG
• Oxford Photovoltaics Limited
• Soltecture Solartechnik GmbH
• Ascent Solar Technologies Inc.
• Dycotec Materials Ltd.
• NanoPV Solar Inc.
• Polysolar Ltd.
• Sunflare Inc.
What Is The Most Dominant Region In The ThinFilm Photovoltaics PV Module Market?
North America was the largest region in the thin-film photovoltaics (PV) module market in 2024. The regions covered in the thin-film photovoltaics (PV) module market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
