Receive an up-to-date analysis of recent developments and current trends in the global market for thin film technologies in energy applications.
Identify significant drivers of revenue growth of this market.
Quantify the projected impact of both internal and external forces that are affecting this market.
Learn about the profiles of the major vendors of thin films for energy applications globally.
The global market for thin films in energy applications reached nearly $7.9 billion in 2015.
The market is expected to reach nearly$18.8 billion by 2021 from $8.9 billion in 2016, increasing at a compound annual growth rate (CAGR) of 16.1% from 2016 to 2021.
Utilities sector of this market is expected to grow from nearly $6.1 billion in 2016 to $13.1 billion in 2021 at a CAGR of 16.7% for the period 2016-2021.
Commercial sector of this market will grow from $1.7 billion in 2016 to $3.3 billion in 2021 at a CAGR of 14.1% for the period 2016-2021.
Global demand for traditional fossil fuels has risen at an unprecedented rate over the last several decades. The economics of supply and demand have driven the price of oil, gas and coal to record levels, although the oil market is currently undergoing a period of oversupply. In addition, fossil fuels are considered a source of pollution that is contributing to climate change. Countries worldwide have responded by implementing measures to reduce activities that require the use of fossil fuels and by searching for alternative sources of energy.
The market for thin films in energy applications has thus evolved over the past few years along with developments in the electronics and semiconductor industries.
Photovoltaics (PV) is the major technology that has historically made the most use of thin films and today dominates the market, accounting for more than 83% of the market. The market for thin film batteries, although smaller in size, is expected to undergo robust growth during the forecast period of 2016 through 2021. The global market for thin films in energy applications is primarily driven by Asia-Pacific, North America and Europe.
Asia-Pacific accounts for the largest market share of the global market for thin films in energy applications followed by North America and Europe. Increasing demand for thin film technologies in energy applications in several different industries is driving the market for thin film technologies.
This report also highlights the supplier landscape with profiles of major companies.
SCOPE OF REPORT
The scope of this report is broad and covers many energy applications of thin film technologies used in commercial, industrial and utility applications globally. The market is segmented into major energy application types, regions and end-use sectors.Revenue forecasts from 2016 through 2021 are given for each major type, along with regional market revenue shares. Estimated values used are based on manufacturers' total revenues.
The report also includes a discussion of the major players in each of the regional markets and explains the major global drivers, current trends, major challenges and the regional dynamics of the market. The report concludes with a special focus on the supplier landscape. It includes detailed profiles of the major vendors of thin films for energy applications globally and the market shares of the major players by region.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/the-global-market-for-thin-films-in-energy-applications-300381419.html