Global Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market – Industry Trends and Forecast to 2029

Global Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market, By Type (Electrospray Deposition, Chemical Vapour Deposition, Co-evaporation, Film Production), Film Thickness (1-2 Micro Meters, 2-3 Micro Meters, 3-4 Micro Meters), Deposition Technique (Electrospray End User  (Automobiles, Electronics and Electrical, Energy and Power, Others) – Industry Trends and Forecast to 2029.

Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market Analysis and Size

The copper indium gallium selenide solar cells (Ci(G)S) market is driven by the upsurge in the demand of electricity and consumer electronics. Strict government regulations on carbon emission and limited availability of fossil fuels create a strong need and demand for cost-effective and efficient sources of energy such as solar energy. Copper indium gallium selenide solar cells are highly efficient compared to other alternative technologies. Furthermore, the introduction of advanced technology along with increasing research and development activities are expected to boost the demand of the nanocrystal solar cell that will lead to the growth of the copper indium gallium selenide solar cells (Ci(G)S) market during the forecast period of 2022-2029.

Data Bridge Market Research analyses that the copper indium gallium selenide solar cells (Ci(G)S) market was valued at USD 2,289.64 million in 2021 and is expected to reach USD 4,169.39 million by 2029, registering a CAGR of 7.78% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market Scope and Segmentation

Market Definition

A copper indium gallium selenide solar cell, sometimes called CI(G)S or CIS cell. It is a thin-film solar cell that is used to convert sunlight energy into electric power. This solar cell is manufactured by depositing a thin layer of copper indium gallium selenide solution on plastic or glass backing, along with electrodes on the back and front to collect current. This material strongly absorbs sunlight and has a higher absorption coefficient than other semiconductor materials.

Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market Dynamics

Drivers

• Advantage of copper indium gallium selenide element in solar cell

The copper indium gallium and selenide elements increase solar cell efficiency by trapping or concentrating light at the absorber layer and also serve as a cheap anti reflective electrode or back contact. This solar cell's major advantages have increased the demand for the copper indium gallium selenide solar cell, which also boosts the market's growth rate.

• Increase in the installation of Solar System

The rise in the number of installation of solar system further influence the growth of the copper indium gallium selenide solar cells (Ci(G)S) market. The rise in demand for copper indium gallium selenide solar cells (Ci(G)S) due to rising need to decline the prices of solar cell modules are expected to drive the market's growth.

• Rising demand of copper indium gallium and selenide solar cell due to their properties

The demand for the copper indium gallium and selenide solar cell increases due to their ability and different advantages such as partial transparency, monolithic deposition onto flexible substrates, reliability, high-temperature coefficient and stability. The adoption of CIGS solar modules is being increased in due to their numerous features which is including low weight, high efficiency, durability, and flexibility which are expected to drive the growth rate of the market

Furthermore, increasing usage of these solar cells due to their high absorption of the solar spectrum, adoption of flexible design with low temperature cell deposition and prevalence of improved and efficient cell material are some of the factors that are expected to enhance the growth of the copper indium gallium selenide solar cells (Ci(G)S) market during forecast period of 2022-2029.

Opportunities                          

• Multiple usage in several industry

Copper indium gallium selenide (CIGS) solar cell is being used across a extensive range of end-user industries such as energy and power, electronics and electrical and automobiles. This factor is expected to boost the immense opportunities for the growth of the copper indium gallium selenide (CIGS) solar cells market.

• Technological advancement

The recent technical advancements reducing the production cost of the copper indium gallium selenide solar cells (Ci(G)S) extend the profitable opportunities to the major market players in the forthcoming period. Furthermore, improvement in infrastructure development activities will further expand the growth of the copper indium gallium selenide solar cells (Ci(G)S) market.

Moreover, increasing the number of strategic collaborations and emerging new markets will act as market drivers and increase the beneficial opportunities for the market's growth rate.

Restraints/ Challenges

• Environmental concern

However, due to the negative impact of copper indium gallium selenide on the environment, the government has imposed some stringent regulations which are expected to obstruct the demand of the copper indium gallium selenide solar cells (Ci(G)S) in the market.

• Lower productivity

The lower productivity of the copper indium gallium selenide solar cells (Ci(G)S) compared to other alternatives might be hinder the growth of copper indium gallium selenide solar cells (Ci(G)S) market globally during the forecast period of 2022-2029.

This copper indium gallium selenide solar cells (Ci(G)S) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the copper indium gallium selenide solar cells (Ci(G)S) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market

The outbreak of COVID-19 has negatively impacted the growth of the copper indium gallium selenide solar cells (Ci(G)S) market due to the strict social distancing and lockdowns globally. The partial shutdown of the business, economic uncertainty and low consumer confidence have impacted the demand for copper indium gallium selenide solar cells (Ci(G)S) technology. The supply chain was hindered during this pandemic along with delayed logistics activities. However, the copper indium gallium selenide solar cells (Ci(G)S) market is anticipated to recover its pace during the post pandemic scenario.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market Scope

The copper indium gallium selenide solar cells (Ci(G)S) market is segmented on the basis of type, film thickness and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Electrospray Deposition
• Chemical Vapour Deposition
• Co-evaporation
• Film Production

Film Thickness

• 1-2 Micro Meters
• 2-3 Micro Meters
• 3-4 Micro Meters

End User  

• Automobiles
• Electronics and Electrical
• Energy and Power
• Others

Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market Regional Analysis/Insights

The copper indium gallium selenide solar cells (Ci(G)S) market is analysed and market size insights and trends are provided by country, type, film thickness and end user as referenced above.

The countries covered in the copper indium gallium selenide solar cells (Ci(G)S)market report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the copper indium gallium selenide solar cells (Ci(G)S) market in terms of revenue and market share. This is due to the prevalence of power and energy sector in this region. 

Asia-Pacific is projected to be the fastest developing region during the forecast period of 2022-2029 due to the growth of electrical and electronics industry in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Copper Indium Gallium Selenide Solar cells (Ci(G)S) Market Share Analysis

The copper indium gallium selenide solar cells (Ci(G)S) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to copper indium gallium selenide solar cells (Ci(G)S) market.

Some of the major players operating in the copper indium gallium selenide solar cells (Ci(G)S) market are:

• Tata Power Solar Systems Ltd. (India)
• SHARP CORPORATION (Japan)
• ALPS Technology Inc. (U.S.)
• Solaris Technology Industry, Inc. (India)
• GREEN BRILLIANCE RENEWABLE ENERGY LLP (India)
• Trina Solar (China)
• Canadian Solar. (Canada)
• Exeger Operations AB (Sweden)
• Fujikura Europe Ltd. (U.K.)
• G24 Power Ltd. (U.K.)
• Konica Minolta Sensing Europe B.V. (Netherlands)
• Merck KGaA (Germany)
• Oxford PV (U.K.)
• Peccell Technologies, Inc. (Japan)
• Sharp Corporation (Japan)
• Solaronix SA (Switzerland)
• Sony Corporation (Japan)
• Ricoh (Japan)
• First Solar. (U.S.)
• SunPower Corporation (U.S.)
• Suniva Inc (U.S.)