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Global Cadmium Telluride Photovoltaic Market: By Type: Single Crystals, Large Grains, Standard Cells; By Application: Residential, Commercial, Industrial and Utility; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Cadmium Telluride Photovoltaic Market Outlook
The global cadmium telluride photovoltaic market is expected to grow at a CAGR of 12.3% during the period 2023-2028.
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Global Cadmium Telluride Photovoltaic Market Likely to be Driven by Demand for Clean, Cost-effective, and Renewable Energy
The global market for cadmium telluride photovoltaics (CdTe PVs) is expected to be driven by the demand for sustainable and cost-effective sources of energy. North America and Asia are expected to be key markets.
Photovoltaics (PVs) is a significant energy technology for the large-scale production of energy. The last few years have witnessed a considerable increase in the volume of electricity produced, and at the same time, a decrease in the cost of manufacturing and installation of photovoltaic modules as well as a reduction in the cost of electricity generation. This has been possible due to improvements in solar cell efficiencies and manufacturing practices. Improvements in cadmium telluride (CdTe) solar cell devices have also highlighted the significant potential of the technology in terms of scalability. While many photovoltaic technologies exist in the market, two key technologies for large scale installations are polycrystalline thin-film cadmium telluride (CdTe) and crystalline silicon (Si). While crystalline Si is the oldest and the most extensively installed technology, thin-film cadmium telluride (CdTe) technology has exhibited largest growth and lowest LCOE (levelized cost of energy). Furthermore, thin-film cadmium telluride (CdTe) has shown significant advantages over crystalline Si in tropical climates characterized by high temperatures and humidity all year round.
Currently, cadmium telluride photovoltaic (CdTe PV) technologies account for nearly 33% of the U.S. utility-scale photovoltaic (PV) market; over 25 GW of cadmium telluride photovoltaic (CdTe PV) modules have been deployed across the globe. According to analyst reports, cadmium telluride photovoltaic (CdTe PV) technology is likely to contribute significantly to the U.S. low-carbon energy transition. On the basis of levelized cost of energy, utility-scale solar energy is the most cost-competitive source of new electricity production beside wind and combined cycle natural gas. Considering a consistent fall in module prices and enhancements in module efficiencies, economic benefits from the technology are expected to grow. In future, collaborations with battery storage and electrification of vehicles are likely to increase demand for and integration of solar energy into the grid.
In terms of impact on the environment, cadmium telluride photovoltaic (CdTe PV) technology offers considerable environmental value as part of a low-carbon energy transition; it gives low greenhouse gas emissions and smaller environmental footprints as compared to other technologies.
Among commercial PV technologies, cadmium telluride photovoltaic (CdTe PV) technology offers lowest life cycle environmental impacts, including carbon footprint, energy payback time, water use, and human health and ecosystem impacts, owing to low energy and material use during production.
Cadmium telluride photovoltaic (CdTe PV) is an established PV technology. Over the last 2 decades, more than 25 GW of solar modules have been deployed across the globe. These include over 200 million PV modules in over 18,000 projects in the Americas, Europe, Middle East, Africa, Asia, and Australia. There is strong competition among global PV manufacturers. U.S. PV production is moderate as compared to global producers. Historically, Chinese producers have been able to achieve cost advantages driven by scale and supply chain development.
Global Cadmium Telluride Photovoltaic Market Segmentation
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By type, the market is segmented into:
- Single Crystals
- Large Grains
- Standard Cells
By application, the market is classified into:
- Residential
- Commercial
- Industrial and Utility
By region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Global Cadmium Telluride Photovoltaic Market
The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- First Solar, Inc.
- Advanced Solar Power (Hangzhou) Inc.
- Calyxo GmbH
- CTF Solar GmbH
- Dmsolar, LLC
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Application, Region |
| Breakup by Type | Single Crystals, Large Grains, Standard Cells |
| Breakup by Application | Residential, Commercial, Industrial and Utility |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | First Solar, Inc., Advanced Solar Power (Hangzhou) Inc., Calyxo GmbH, CTF Solar GmbH, Dmsolar, LLC, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cadmium Telluride Photovoltaic Market Analysis
8.1 Key Industry Highlights
8.2 Global Cadmium Telluride Photovoltaic Historical Market (2018-2022)
8.3 Global Cadmium Telluride Photovoltaic Market Forecast (2023-2028)
8.4 Global Cadmium Telluride Photovoltaic Market by Type
8.4.1 Single Crystals
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Large Grains
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Standard Cells
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Cadmium Telluride Photovoltaic Market by Application
8.5.1 Residential
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Commercial
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Industrial and Utility
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Cadmium Telluride Photovoltaic Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Cadmium Telluride Photovoltaic Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Cadmium Telluride Photovoltaic Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Cadmium Telluride Photovoltaic Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Cadmium Telluride Photovoltaic Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Cadmium Telluride Photovoltaic Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code- 854140)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 First Solar, Inc.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Advanced Solar Power (Hangzhou) Inc.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Calyxo GmbH
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 CTF Solar GmbH
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Dmsolar, LLC
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Cadmium Telluride Photovoltaic Market: Key Industry Highlights, 2018 and 2028
2. Global Cadmium Telluride Photovoltaic Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Cadmium Telluride Photovoltaic Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Cadmium Telluride Photovoltaic Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Cadmium Telluride Photovoltaic Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Cadmium Telluride Photovoltaic Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Cadmium Telluride Photovoltaic Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Major Importing Countries by Volume
19. Major Exporting Countries by Volume
20. Major Importing Countries by Value
21. Major Exporting Countries by Value
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Cadmium Telluride Photovoltaic Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 12.3% between 2023 and 2028.
The major drivers of the market include the increasing inclination towards clean and renewable energy sources owing to the global increase in the demand for electricity, growing expansion of the manufacturing sector, favourable government policies encouraging the use of solar energy sources, and rapid urbanisation.
The growing innovations and technological advancements in the photovoltaic technology, and changing preference of manufacturers from amorphous silicon to cadmium telluride as the electricity source are expected to be the key trends guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Single crystals, large grains, and standard cells are the different product types considered in the market report.
Residential, commercial, and industrial and utility are the significant applications of the product considered in the market report.
The major players in the industry are First Solar, Inc., Advanced Solar Power (Hangzhou) Inc., Calyxo GmbH, CTF Solar GmbH, and Dmsolar, LLC, among others.
Analyst Review
The global cadmium telluride photovoltaic market is driven by the rising demand for clean and sustainable energy sources. Aided by the rapid advancements in the photovoltaic technologies, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of around 12.3%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of type, the market is divided into single crystals, large grains, and standard cells. By application, the market has been segmented into residential, commercial, and industrial and utility. The major regional markets for cadmium telluride photovoltaic are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include First Solar, Inc., Advanced Solar Power (Hangzhou) Inc., Calyxo GmbH, CTF Solar GmbH, and Dmsolar, LLC, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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