Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market Size, Share, Growth Analysis, By Application(Residential, Commercial & Industrial), By End User(Utility, Aerospace & Defence)

Description

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market size was valued at USD 1.78 billion in 2022 and is poised to grow from USD 2.09 billion in 2023 to USD 7.43 billion by 2031, growing at a CAGR of 17.2% during the forecast period (2024-2031).

Devices based on CIGS are included in photovoltaic thin films. Even though politics and social or economic shifts in society are what propel other forms of energy regarding CIGS growth, the profitable idea of solar power generation starts with the rise of the solar panel market. Additionally, compared to related technologies, the CIGS solar cell market has grown mostly because of improvements in efficiency and quick power generation. A 1 cm2 CIS solar cell of 23 set a record anywhere thanks to Solar Frontier. This is currently the highest efficiency that a single cell can have been shown to have. The growing use of CIGS solar cells, which have various uses for household utilities, commercial buildings, and other applications, is contributing to the market's expansion.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market Segmental Analysis

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market is segmented on the basis of application, end user and region. By application, the market is segmented into residential, commercial & industrial, utilities. By end user, the market is segmented into utility, aerospace & defense, automotive, others. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market

Governments everywhere are encouraging the adoption of renewable energy sources by providing solar power customers with incentives and subsidies. For example, the United States government provides homeowners who install solar panels with a 26% federal tax credit, which has helped fuel the expansion of the CIGS solar cells market in the nation. The demand for CIGS solar cells is being driven by the shift towards cleaner and more sustainable electricity and the growing emphasis on renewable energy on a worldwide scale. These cells stand out as an excellent choice in the solar landscape because of their thin-film technology, flexibility, lightweight design, and excellent performance in low light.

Restraints in the Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market

Other solar technologies including thin-film and crystalline silicon solar cells compete with CIGS solar cells. The development of CIGS solar cells may be constrained by these technologies because they are more well-established and have better efficiency.

Market Trends of the Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market

The market for CIGS solar cells is expected to expand as a result of the growing popularity of solar cell integration into building constructions. Building energy consumption can be decreased and space can be used more effectively with the usage of BIPV technology.

Product Code: SQMIG55F2037

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market by Application

Market Overview
Residential
Commercial & Industrial
Utilities

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market by End User

Market Overview
Utility
Aerospace & Defence
Automotive
Others

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Hanergy (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Avancis (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
MiaSolA(C) (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Solibro (Sweden)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Global Solar Energy (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ascent Solar (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Flisom (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Manz AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Solarion (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Solar Frontier (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
NexPower Technology (Taiwan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
WA1/4rth Solar (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
HelioVolt (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
IFEVS (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
CNBM (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Calyxo (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
QS Solar (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sunflare (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
EPV Solar (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GSE Integration (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sunpreme (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Enecom (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market Size, Share, Growth Analysis, By Application(Residential, Commercial & Industrial), By End User(Utility, Aerospace & Defence) - Industry Forecast 2024-2031