Cadmium Telluride Photovoltaic Market by Application (Residential, Commercial, and Industrial & Utility): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global cadmium telluride photovoltaic market expected to reach USD 13.84 billion by 2025, at a CAGR of 12.5% between 2019 and 2025. The global cadmium telluride photovoltaic market is expected to grow considerably over the forecast time period, owing to favorable government initiatives to promote the adoption of renewable energy across the world.

08-Feb-2019 | Number of pages: 110 | Report Code: ZMR-3806 | Report Format : | Status : Published

Analysis

Cadmium telluride photovoltaic is a device that produces electricity from light by using a cadmium telluride thin-film. In a multi-kilowatt system, cadmium telluride photovoltaic is the only thin-film technology that is inexpensive than any other conventional solar cells made of crystalline silicon. These types of photovoltaic are widely used in commercial and residential applications globally.

The global cadmium telluride photovoltaic market is expected to grow considerably over the forecast time period, owing to favorable government initiatives to promote the adoption of renewable energy across the world. Moreover, the rising awareness regarding green energy has further propelled the demand for thin-film photovoltaics, which, in turn, is projected to boost the cadmium telluride photovoltaic market in the future. Additionally, the growing application of cadmium telluride photovoltaic in the residential sector is estimated to further push this market’s growth. However, the high initial manufacturing cost of cadmium telluride photovoltaic might hamper the cadmium telluride photovoltaic market globally over the estimated time period. Conversely, the increase in research activities related to thin film solar cells is anticipated to create lucrative new growth opportunities for the cadmium telluride photovoltaic market in the upcoming years.

Global Cadmium Telluride Photovoltaic Market

The global cadmium telluride photovoltaic market is segmented on the basis of the application. The application segment of the global cadmium telluride photovoltaic includes residential, commercial, and industrial and utility. In 2018, the residential application segment of the cadmium telluride photovoltaic market globally held the largest market share and is projected to dominate the market in the future. The commercial application segment is predicted to grow rapidly in the upcoming years.

By region, the global cadmium telluride photovoltaic market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2018, the European cadmium telluride photovoltaic regional market dominated the global market and held the largest share. The region is projected to maintain its dominance in the future as well, owing to the rising demand for efficient energy in commercial and residential sectors. The Middle East and Africa and Latin America are expected to be the fastest growing regions over the estimated timeframe due to the growing demand for cadmium telluride photovoltaic for residential applications. Additionally, the rapid industrialization witnessed in Latin America has further increased the demand for renewable energy, which is likely to propel this region’s cadmium telluride photovoltaic market growth over the estimated timeline.

Some key manufacturers of the global cadmium telluride photovoltaic market include First Solar, Advanced Solar Power, Antec Solar, Calyxo, CNBM (Chengdu) Optoelectronic Materials, CTF Solar, D2solar, Dmsolar, RSI, UPT Solar, and Willard & Kelsey (WK) Solar, among others.


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