Global Thin-Film Solar Panel Market to Reach $27.2 Billion by 2030
The global market for Thin-Film Solar Panel estimated at US$16.3 Billion in the year 2023, is expected to reach US$27.2 Billion by 2030, growing at a CAGR of 7.6% over the analysis period 2023-2030. Cadmium Telluride Solar Panel, one of the segments analyzed in the report, is expected to record a 8.7% CAGR and reach US$10.7 Billion by the end of the analysis period. Growth in the Amorphous Thin-Film Silicon Solar Panel segment is estimated at 7.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.3 Billion, While China is Forecast to Grow at 11.4% CAGR
The Thin-Film Solar Panel market in the U.S. is estimated at US$4.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.8 Billion by the year 2030 trailing a CAGR of 11.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 6.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.9 Billion by the year 2030.
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