Thin Film Pv Market (2011-2016): Global Market Forecast

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Thin film PV market has gained momentum in the recent times

, especially at the time of 2009 global meltdown. High prices of silicon have shifted the demand for solar cells towards thin film PV cells. Low cost, increasing government initiatives & policies, shorter energy payback, better performance under low light conditions and others are the few factors that have spurred the global thin film PV market. Initially dominated by a-Si thin film PV cells, the market is now shifting towards CdTe and CIS/CIGS based thin film PV cells. Higher efficiency of CdTe and CIS/CIGS cells has resulted for the demand at global level.

According to 6Wresearch, Global thin film PV market is expected to generate $22,357.3 million by 2016 with an estimated CAGR of 27.5% from 2011-2016. In 2011, a-Si has dominated the thin film PV market and has accounted for 49.8% of the market share in the overall market; however this market share is expected to fall to 38.1% by 2016. The market for CdTe, CIS/CIGS and other thin film PV cells are expected to grow with a CAGR of 30.5%, 39.8% and 15.0%, respectively for the same period.

In modules market, the market is estimated to generate 3,213.2 MW in 2011 and is expected to reach 9,036.6 MW by 2016, with a CAGR of 23.0% from 2011-2016. CdTe based modules dominated the module market and accounted for 44.4% of the share in overall market in 2010. However, CIS/CIGS modules are expected to emerge as a market leader by 2016.

Although in 2011, Europe dominated the Global thin film PV market, but Asia is expected to grow with relatively higher CAGR of 33.7% for the same period. In Application market, BIPV dominated and accounted for 45.5% of the share in 2010, followed Grid connected power supply, military & space, consumer electronics and others, respectively.

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