Copper Indium Gallium Selenide Solar Cells Market Size, Share & Industry Analysis, By Deposition (Electrospray Deposition, Chemical Vapor Deposition, Co-Evaporation, Film Production), By End-use (Automobiles, Electronics and Electrical, Energy and Power, Others), By Film Thickness (1-2 Micro Meters, 2-3 Micro Meters, 3-4 Micro Meters) And Regional Forecast, 2024-2032

Copper indium gallium selenide (CIGS) is a semiconductor used to manufacture solar cells. The CIGS absorber is located on a glass or plastic backing, with electrodes for current collection on the back and front. This material has a strong ability to absorb sunlight and a high absorption coefficient, whereas a thin film is required compared with other semiconductor materials. Devices prepared with CIGS belong to the category of photovoltaic thin films.

Compared to other energy sources, the growth of the solar panel market and the profitability of solar panel power generation drive the development of the CIGS. Furthermore, compared to similar technologies, the improvement in the efficiency of CIGS solar cells and the reduction of the time required for power generation has further promoted the growth of the CIGS solar cell market.

• Solar Frontier achieved a conversion efficiency of 23.35% in a CIS solar cell of 1 cm². This is the highest efficiency verified for this type of cell 

The high initial cost of CIGS solar cells and the complexity and technicality involved in production may hinder the growth of the global market. Higher prices make it more difficult for utilities and developers to justify them as financial institutions, which will more likely put the installation of CIGS solar cells at risk.

North America is the dominant region in the global market presence in the energy and power sector. Renewable capacity installation is widely increasing in this region, especially solar capacity. Adopting flexible design through low-temperature cell deposition and increased use of improved and efficient cell materials will increase the use of CIGS solar cells in this region.

• In March 2021, German thin-film module maker Avancy reportedly achieved 19.64% efficiency in a fully encapsulated thin-film module with an opening area of 671 square centimeters and an integrated serial interconnect measuring 30 x 30 centimeters. This result was confirmed by the National Renewable Energy Laboratory (NREL) in the United States.

Impact of COVID-19 On Global Copper Indium Gallium Selenide Solar Cells Market

The COVID-19 epidemic has significantly influenced the global industry for CIGS solar cell market. This is due to the imposed lockdown across several nations, which caused a temporary halt in production. The import/export activities and travel bans globally solar power market's supply chain. Furthermore, the market has been harmed by a temporary shut-in R&D operation due to laboratory closures and insufficient funding.

KEY INSIGHTS

The report will cover the following key insights:

• Recent advancements in CIGS solar cell Market


• Key industry trends


• The regulatory landscape for CIGS solar cell Market


• Impact of COVID-19 on the market

ANALYSIS BY FILM THICKNESS

The global market is segmented into 1-2, 2-3, and 3-4 micrometers based on the film thickness. The thickness of the CIGS absorber layer is typically 2–2.5 to 3 μm. Because CIGS has a relatively high absorption coefficient (105 cm1 at 1.4 eV and higher), a 0.5 μm thick CIGS absorber sheet may absorb more than 90% of the total solar spectrum.

ANALYSIS BY DEPOSITION

The global market is segmented into electrospray, chemical vapor, co-evaporation, and film production based on deposition. Co-evaporation is the most common CIGS manufacturing technique. Co-evaporate or air sputtering involves copper, gallium, and indium onto a substrate at room temperature, then annealing the resulting film in selenide vapor.

ANALYSIS BY END-USER

Based on the end-user, the global market can be classified into automobiles, electronics and electrical, energy and power, and others. The energy and power sector accounted for a significant share of the market. CIGS solar cells offer superior performance efficiencies to other solar cells and increase demand in various energy and power applications. The laboratory CIGS cell achieves an advanced efficiency level, and several technological advances are underway to improve that efficiency.

REGIONAL ANALYSIS

Asia Pacific ranks second in terms of market share for the global CIGS solar cell market, driven by the increasing penetration of the electronics and electrical industry. The installation of solar-based capacity is widely increasing across this region. Investment in the power generating sector has increased widely across India, China, South Korea, Thailand, and others.

The thriving industrial landscape in Europe is a significant factor in mapping the region to the global CIGS solar cell market. It is also growing with investments in its energy and power sector. Europe is expected to have the most significant growth rate during the forecast period.

KEY PLAYERS COVERED

The report will include key players such as Oxford PV, Ascent Solar Technologies, Inc., Tata Power Solar Systems Limited, Manz AG, Jinko Solar Co., Ltd., Hanergy, Bosch Solar Energy AG, Sulfurcell Solartechnik GmbH, Solar Frontier Europe GmbH, Frontier Solar Inc, SoloPower Systems, Inc., and AVANCIS GmbH.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• In October 2021, Ascent Solar Technologies Inc produced lightweight, flexible CIGS thin-film PV modules that can be integrated into consumer products, aerospace applications, and off-grid applications. This module can retain 92% of the original power during the space flight experiment.


• In October 2020, NICE Solar Energy GmbH achieved a new world record efficiency for CIGS solar modules with 17.6%. TUV Rheinland confirms this record on a module surface area of 120x60 cm.