6Wresearch: Thin Film PV Market (2011-2016)

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Thin Film PV Market (2011-2016): Global Market Forecast Thin film PV market has gained momentum in the recent times, especially during & after 2009 global meltdown. Increasing prices of silicon has 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 thin film PV market. Initially dominated by a-Si thin film PV cells, the market is now noticing a shift towards CdTe and CIS/CIGS based thin film PV cells. Higher efficiency of CdTe and CIS/CIGS cells has resulted for its 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; however this market share is expected to fall to 38.1% by 2016; while on the other hand the market of CdTe, CIS/CIGS and others are expected to grow with a CAGR of 30.5%, 39.8% and 15.0% for the same period respectively.  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 dominates the module market capturing 44.4% of the share in overall market in 2010. However, CIS/CIGS modules are expected to emerge as a leader by 2016. Although in 2011, Europe dominates the Global thin film PV market, but Asia is expected to grow with highest CAGR of 33.7% during the forecasted period. In Application market, BIPV dominates and accounts for 45.5% of the share in 2010, followed Grid connected power supply, military & space, consumer electronics and others, respectively.  For Further details, please contact: www.6wresearch.com, sales@6wresearch.com