CIGS/CIS Solar Cells Module Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: Avancis (CNBM), Stion, Manz, Hanergy, Solibro, Siva Power

Registering a CAGR of 3.6% over the forecast period, the market value of the CIGS/CIS Solar Cells Module is expected to reach US$ 3500 million in the year 2027.

CIGS/CIS Solar Cells Module Market Overview

Copper indium gallium selenide (CIGS) is a semiconductor that is used in the production of solar cells. The CIGS absorber is mounted on a glass or plastic backing, with current collection electrodes on the back and front. When compared to other semiconductor materials, this material has a high absorption coefficient and a strong ability to absorb sunlight. CIGS-based devices fall under the category of photovoltaic thin films. Thin-film solar modules based on CIGS are a high-efficiency alternative for large-scale commercial solar modules. CIGS is a versatile material that can be manufactured using a variety of processes and implemented in a variety of form factors.

In comparison to other energy sources, the development of CIGS is driven by the growth of the solar panel market and the profitability of solar panel power generation. Furthermore, when compared to similar technologies, the increased efficiency of the CIGS/CIS Solar Cells Module and the reduction in the time required for power generation have fueled the growth of the CIGS/CIS Solar Cells Module market.

The high initial cost of the CIGS/CIS Solar Cells Module, as well as the complexity and technicality involved in the production, may stymie global market growth. Higher prices make it more difficult for utilities and developers to justify themselves as financial institutions, potentially jeopardizing the installation of the CIGS/CIS Solar Cells Module.

The report aspects discussed the profile of the top manufacturers of the global CIGS/CIS Solar Cells Module market. These aspects include the financial status of major companies, trending advancements, and the entire market scenario. Growth of the report has examined CIGS/CIS Solar Cells Module Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.

Who are the Major Players in the CIGS/CIS Solar Cells Module Market?

The global CIGS/CIS Solar Cells Module includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Avancis (CNBM), Stion, Manz, Hanergy, Solibro, Siva Power, Solar Frontier, Miasole, SoloPower, Global Solar and others.

Industry News and Updates:

PV Designed by Ascent Solar Exhibited Outstanding Device Stability During a space flight experiment, up to 92 percent of the original power was retained.

In October 2021, Ascent Solar Technologies Inc developed lightweight, flexible CIGS thin-film PV modules for use in consumer goods, aerospace, and off-grid applications. During the space flight experiment, this module can retain 92 percent of its original power.

What are the major Applications, Types, and Regions for the CIGS/CIS Solar Cells Module Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Single Crystal Silicon


• Polycrystalline Silicon


• Amorphous Silicon

By Application, it is segmented into

• Residential


• Commercial

CIGS/CIS Solar Cells Module Market Regional Analysis

Asia Pacific ranks second in terms of global CIGS/CIS Solar Cells Module market share, owing to the increasing penetration of the electronics and electrical industries. Solar-powered capacity is being installed at a rapid pace throughout this region. Power generation investment has increased significantly in India, China, South Korea, Thailand, and other countries.

Europe's thriving industrial landscape plays an important role in mapping the region to the global CIGS/CIS Solar Cells Module market. It is also expanding through investments in the energy and power sectors. During the forecast period, Europe is expected to have the fastest growth rate during the forecast period.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The CIGS/CIS Solar Cells Module Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global CIGS/CIS Solar Cells Module Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our CIGS/CIS Solar Cells Module Market report scope?

Scope of the Report covers the CIGS/CIS Solar Cells Module Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this CIGS/CIS Solar Cells Module Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this CIGS/CIS Solar Cells Module Report

• Evaluate CIGS/CIS Solar Cells Module market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the CIGS/CIS Solar Cells Module market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The CIGS/CIS Solar Cells Module Market is studied from 2017 - 2027.

What is the growth rate of the CIGS/CIS Solar Cells Module Market?

The CIGS/CIS Solar Cells Module Market is growing at a CAGR of 3.6% over the next 5 years.

Who are the key players in CIGS/CIS Solar Cells Module Market?

Avancis (CNBM), Stion, Manz, Hanergy, Solibro, Siva Power, Solar Frontier, Miasole, SoloPower, Global Solar

What regions does this CIGS/CIS Solar Cells Module Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of CIGS/CIS Solar Cells Module Market?

Single Crystal Silicon, Polycrystalline Silicon, Amorphous Silicon

What are the major end-use applications of CIGS/CIS Solar Cells Module Market?

Residential, Commercial

All our reports are custom-made to your company’s needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.