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Global Cadmium Telluride Photovoltaic Market to Grow at a CAGR of 12.3% During the Period 2024-2032, Driven by Demand for Sustainable Energy

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Global Cadmium Telluride Photovoltaic Market Size, Growth: By Type: Single Crystals, Large Grains, Standard Cells; By Application: Residential, Commercial, Industrial and Utility; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

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 2024-2032.

Global Cadmium Telluride Photovoltaic Market

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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

Global Cadmium Telluride Photovoltaic Market by Segment

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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

Global Cadmium Telluride Photovoltaic Market by Region

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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.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
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 United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
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 (2018-2023)
   8.3   Global Cadmium Telluride Photovoltaic Market Forecast (2024-2032)
   8.4   Global Cadmium Telluride Photovoltaic Market by Type
       8.4.1   Single Crystals
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
       8.4.2   Large Grains
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
       8.4.3   Standard Cells
           8.4.3.1 Historical Trend (2018-2023)
           8.4.3.2 Forecast Trend (2024-2032)
   8.5   Global Cadmium Telluride Photovoltaic Market by Application
       8.5.1   Residential
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   Commercial
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
       8.5.3   Industrial and Utility
           8.5.3.1 Historical Trend (2018-2023)
           8.5.3.2 Forecast Trend (2024-2032)
   8.6   Global Cadmium Telluride Photovoltaic Market by Region
       8.6.1   North America
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Europe
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
       8.6.3   Asia Pacific
           8.6.3.1 Historical Trend (2018-2023)
           8.6.3.2 Forecast Trend (2024-2032)
       8.6.4   Latin America
           8.6.4.1 Historical Trend (2018-2023)
           8.6.4.2 Forecast Trend (2024-2032)
       8.6.5   Middle East and Africa
           8.6.5.1 Historical Trend (2018-2023)
           8.6.5.2 Forecast Trend (2024-2032)
9   North America Cadmium Telluride Photovoltaic Market Analysis
   9.1   United States of America
       9.1.1 Historical Trend (2018-2023)
       9.1.2 Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1 Historical Trend (2018-2023)
       9.2.2 Forecast Trend (2024-2032)
10   Europe Cadmium Telluride Photovoltaic Market Analysis
   10.1   United Kingdom
       10.1.1 Historical Trend (2018-2023)
       10.1.2 Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1 Historical Trend (2018-2023)
       10.2.2 Forecast Trend (2024-2032)
   10.3   France
       10.3.1 Historical Trend (2018-2023)
       10.3.2 Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1 Historical Trend (2018-2023)
       10.4.2 Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Cadmium Telluride Photovoltaic Market Analysis
   11.1   China
       11.1.1 Historical Trend (2018-2023)
       11.1.2 Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1 Historical Trend (2018-2023)
       11.2.2 Forecast Trend (2024-2032)
   11.3   India
       11.3.1 Historical Trend (2018-2023)
       11.3.2 Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1 Historical Trend (2018-2023)
       11.4.2 Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1 Historical Trend (2018-2023)
       11.5.2 Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Cadmium Telluride Photovoltaic Market Analysis
   12.1   Brazil
       12.1.1 Historical Trend (2018-2023)
       12.1.2 Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1 Historical Trend (2018-2023)
       12.2.2 Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1 Historical Trend (2018-2023)
       12.3.2 Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Cadmium Telluride Photovoltaic Market Analysis
   13.1   Saudi Arabia
       13.1.1 Historical Trend (2018-2023)
       13.1.2 Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1 Historical Trend (2018-2023)
       13.2.2 Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1 Historical Trend (2018-2023)
       13.3.2 Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1 Historical Trend (2018-2023)
       13.4.2 Forecast Trend (2024-2032)
   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 2032
2.   Global Cadmium Telluride Photovoltaic Historical Market: Breakup by Type (USD Million), 2018-2023
3.   Global Cadmium Telluride Photovoltaic Market Forecast: Breakup by Type (USD Million), 2024-2032
4.   Global Cadmium Telluride Photovoltaic Historical Market: Breakup by Application (USD Million), 2018-2023
5.   Global Cadmium Telluride Photovoltaic Market Forecast: Breakup by Application (USD Million), 2024-2032
6.   Global Cadmium Telluride Photovoltaic Historical Market: Breakup by Region (USD Million), 2018-2023
7.   Global Cadmium Telluride Photovoltaic Market Forecast: Breakup by Region (USD Million), 2024-2032
8.   North America Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2023
9.   North America Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2024-2032
10.   Europe Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2023
11.   Europe Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2024-2032
12.   Asia Pacific Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2023
13.   Asia Pacific Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2024-2032
14.   Latin America Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2023
15.   Latin America Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2024-2032
16.   Middle East and Africa Cadmium Telluride Photovoltaic Historical Market: Breakup by Country (USD Million), 2018-2023
17.   Middle East and Africa Cadmium Telluride Photovoltaic Market Forecast: Breakup by Country (USD Million), 2024-2032
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

What is the growth rate of the market?

The market is estimated to grow at a CAGR of 12.3% between 2024 and 2032.

What are the major industry drivers?

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.

What are the key industry trends of the global cadmium telluride photovoltaic market?

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.

What are the major regional markets of cadmium telluride photovoltaic, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the different product types considered in the market report?

Single crystals, large grains, and standard cells are the different product types considered in the market report.

What are the significant applications of the product considered in the market report?

Residential, commercial, and industrial and utility are the significant applications of the product considered in the market report.

Who are the key industry players, according to the 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 2024-2032, 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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