Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market

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


Report ID: SQMIG55F2037 | Region: Global | Published Date: April, 2024
Pages: 182 | Tables: 64 | Figures: 77

Copper Indium Gallium Selenide (CIGS) Solar Cell Market Insights

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, at a CAGR of 17.2% during the forecast period (2024-2031). 

Photovoltaic thin films include CIGS-based devices. Though other energies are driven by politics and social or economic changes in the society about CIGS development, solar panel market expansion is a step that leads to the profitable idea of solar panels power generation. Also, in comparison with similar technologies regarding the growth of the CIGS solar cell industry is primarily due to increases in CIGS solar cells efficiency and also rapid power generation time. Solar Frontier set a record anywhere with a 1 cm2 CIS solar cell of 23. This is the best-proved efficiency an individual cell can have thus far. The market is increasing in part due to the increased use of CIGS solar cells which have different applications for residential utilities, commercial establishments and substations in the industrial sector. 

Thus, the building of smart cities and buildings together with the demand to have an off-grid power scenario is likely to inspire increased usage of CIGS solar cells. Superior growth spurred by the continuously increasing subscription of renewable sources of energy and demand for superior-perform technology across sun generation. CIGS solar cells which received popularity for their low movie manufacture have obvious advantages such as, lightweight style, flexibility and better overall performance in darkness-lit conditions. The marketplace has seen an influx of studies and improvement sports looking lower back to enhance the output and cost-saving traits of CIGS photovoltaic cells. Some of the driving forces for this marketplace include government efforts to promote readily available energy, enhancement in thin-film technologies, and increasing emphasis on renewable energy solutions.

US Copper Indium Gallium Selenide (CIGS) Solar Cell Market is poised to grow at a sustainable CAGR for the next forecast year.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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, at a CAGR of 17.2% during the forecast period (2024-2031). 

In addition to these major players, there are also several emerging players and startups that are working to develop innovative CIGS solar cell technologies and enter the market. The intense competition in the market is driving players to invest in research and development to stay ahead of the competition and maintain their market position. 'Hanergy (China)', 'Avancis (Germany)', 'MiaSolé (United States)', 'Solibro (Sweden)', 'Solar Energy (United States)', 'Ascent Solar (United States)', 'Flisom (Switzerland)', 'Manz AG (Germany)', 'Solarion (Germany)', 'Solar Frontier (Japan)', 'NexPower Technology (Taiwan)', 'Würth Solar (Germany)', 'HelioVolt (United States)', 'IFEVS (Italy)', 'CNBM (China)', 'Calyxo (Germany)', 'QS Solar (China)', 'Sunflare (United States)', 'EPV Solar (United States)', 'GSE Integration (United States)', 'Sunpreme (United States)', 'Enecom (Italy)'

Governments around the world are promoting the use of renewable energy sources by offering incentives and subsidies to users of solar power. For instance, the U.S. government offers a 26% federal tax credit for homeowners who install solar panels, which has contributed to the growth of the CIGS solar cells market in the country.

The integration of solar cells into building structures is becoming more popular, creating opportunities for the growth of the CIGS solar cells market. BIPV technology allows for the efficient use of space and can help reduce energy consumption in buildings.

The Asia-Pacific region is expected to hold the largest share of the CIGS solar cells market due to the presence of a large number of manufacturers and the increasing adoption of renewable energy in countries like China, Japan, and India. China is expected to dominate the market in this region due to its large population and the increasing demand for energy.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Copper Indium Gallium Selenide (CIGS) Solar Cell Market

Report ID: SQMIG55F2037

$5,300
BUY NOW GET FREE SAMPLE