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Thin Film Solar Cell Market Is Expected to Reach $25.3 Billion by 2030: Allied Market Research – GlobeNewswire

| Source: Allied Market Research Allied Market Research
Pune, INDIA
Portland, OR, May 31, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global thin film solar cell market generated $11.3 billion in 2020, and is projected to reach $25.3 billion by 2030, witnessing a CAGR of 8.4% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in electricity prices, reduced dependence on foreign oil and fossil fuels, and the storage and later usage of power drive the growth of the global thin film solar cell market. However, high upfront cost of solar energy and low energy conversion rate restrain the market to some extent. On the other hand, rise in electricity demand in remote areas and surge in clean and renewable energy sources present new opportunities in the upcoming years.
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The report offers detailed segmentation of the global thin film solar cell market based on type, installation, end user, and region.
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Based on installation, the on-grid segment held the highest market share in 2020, holding around three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 8.5% from 2021 to 2030. 
Based on end user, the utility segment held the largest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the commercial segment is projected to register the highest CAGR of 8.6% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, LAMEA is projected to manifest the fastest CAGR of 8.7% during the forecast period.
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Leading players of the global thin film solar cell market analyzed in the research include Ascent Solar Technologies, Filsom AG, First Solar, Hanergy mobile energy, Kaneka corporation, Miasole, Mitsubishi Heavy Industries, Shunfeng International Clean Energy, SUNQ, and Trony Solar.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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