PUBLISHER: The Business Research Company | PRODUCT CODE: 1727954
PUBLISHER: The Business Research Company | PRODUCT CODE: 1727954
A thin-film photovoltaic (PV) module is a type of solar panel made by depositing one or more layers of photovoltaic material onto a substrate. These modules are designed to convert sunlight into electricity and are recognized for their lightweight, flexible, and cost-effective construction, making them suitable for applications where traditional solar panels might be too bulky or rigid.
Thin-film photovoltaic (PV) modules come in two main types, rigid and flexible. A rigid thin-film PV module is a durable solar panel constructed using thin-film technology on a solid, inflexible substrate such as glass or metal. These modules offer high efficiency and stability, making them suitable for various applications. Key components of thin-film PV systems include modules, inverters, and balance-of-systems components. The materials used in manufacturing these modules include cadmium telluride, amorphous silicon, copper indium gallium selenide, perovskite, organic photovoltaic, copper zinc tin sulfide, quantum dot thin-film solar cells, and all-silicon tandem solar cells. Thin-film PV modules are employed in various applications such as building-integrated photovoltaics, rooftop installations, and large-scale utility projects. The main end users of these modules include residential, commercial, industrial, and utility sectors.
The thin-film photovoltaics (PV) modules market research report is one of a series of new reports from The Business Research Company that provides thin-film photovoltaics (PV) modules market statistics, including the thin-film photovoltaics (PV) modules industry global market size, regional shares, competitors with the thin-film photovoltaics (PV) modules market share, detailed thin-film photovoltaics (PV) modules market segments, market trends, and opportunities, and any further data you may need to thrive in the thin-film photovoltaics (PV) modules industry. This thin-film photovoltaics (PV) modules market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The thin-film photovoltaics (PV) module market size has grown strongly in recent years. It will grow from $9.94 billion in 2024 to $10.50 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth during the historic period can be attributed to rising government initiatives supporting renewable energy, increasing adoption of thin-film solar cells, growing investments in the renewable energy sector, the growing popularity of traditional silicon solar cells, and the imposition of tariffs on crystalline silicon (c-Si) solar panels.
The thin-film photovoltaics (PV) module market size is expected to see strong growth in the next few years. It will grow to $12.94 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth during the forecast period can be attributed to the rising popularity of traditional silicon solar cells, increased government funding and attention, growing focus on environmental sustainability and green energy, global urbanization, and the increasing emphasis on eco-friendly solutions. Major trends in the forecast period include the integration of thin-film solar cells, continuous technological advancements, new product launches and innovations, the growing demand for flexible and lightweight designs, and ongoing developments in solar technology.
The growing emphasis on renewable energy is expected to drive the growth of the thin-film photovoltaic (PV) module market in the coming years. Renewable energy sources, such as sunlight, wind, rain, tides, geothermal heat, and biomass, are replenished naturally and have minimal environmental impact. The increased focus on renewable energy is driven by factors such as the rising demand for sustainable energy solutions, concerns over climate change, advancements in clean energy technologies, government policies promoting green energy, and the global push to reduce carbon emissions. Thin-film photovoltaic (PV) modules play a significant role in renewable energy development by providing cost-effective and efficient solutions for harnessing solar power. They enable integration into various applications, including building facades and portable devices, and contribute to reducing the carbon footprint, supporting the global shift toward sustainable energy sources. For example, the European Environment Agency reported that in 2023, the EU's renewable energy share rose to 24.5%, an increase of 1% from 2022. Similarly, in June 2023, the U.S. Energy Information Administration noted that renewable energy consumption in the U.S. grew to 13.2 quads in 2022, up from 12.1 quads in 2021. As a result, the increasing focus on renewable energy is driving the growth of the thin-film photovoltaic (PV) module market.
Companies in the thin-film PV module market are concentrating on innovations such as bifacial solar technology to improve energy yield, efficiency, and sustainability. Bifacial solar technology, particularly 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 enhanced efficiency. For instance, First Solar Inc., a U.S.-based solar company, introduced its fully functional bifacial thin-film PV modules at Intersolar Europe in June 2023. This marked the launch of the first-ever bifacial solar panel utilizing advanced thin-film CdTe semiconductor. The Series 6 Plus Bifacial module combines high-efficiency monofacial technology with bifaciality, resulting in improved energy yield and durability for renewable energy applications.
In April 2023, Ascent Solar Technologies Inc., a U.S.-based photovoltaics company, acquired Flisom for an undisclosed amount. This acquisition aims to expand Ascent Solar's production capacity, enhance operational efficiency, and strengthen its presence in Europe and Asia while opening new revenue streams in luxury goods and building-integrated photovoltaics. Flisom AG, based in Switzerland, manufactures thin-film photovoltaic (PV) solar cells.
Major players 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.
North America was the largest region in the thin-film photovoltaics (PV) module market in 2024. The regions covered in thin-film photovoltaic (PV) module report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the thin-film photovoltaic (PV) module market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The thin-film photovoltaic (PV) module market consists of sales of dye-sensitized solar cells, and portable solar modules. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Thin-Film Photovoltaics (PV) Module Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on thin-film photovoltaics (pv) module market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for thin-film photovoltaics (pv) module ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The thin-film photovoltaics (pv) module market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.