Flexible Solar Panels Market
Flexible Solar Panels Market Forecasts to 2028 - Global Analysis By Type (Copper Indium Gallium Selenide, Amorphous Silicon, Cadmium Telluride and Other types), By Application (Residential, Industrial, Aerospace and Other Applications) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $552.65 MN |
|
Projected Year Value (2028) |
US $931.97 MN |
|
CAGR (2022 - 2028) |
9.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Flexible Solar Panels Market is accounted for $552.65 million in 2022 and is expected to reach $931.97 million by 2028 growing at a CAGR of 9.1% during the forecast period. Flexible solar panels are also known as thin film solar cells, which are second-generation solar cells made by layering more than one thin film of photovoltaic material on a metal, glass, or plastic base. This process yields a much thinner product than standard monocrystalline or polycrystalline solar panels. This makes them more flexible and lighter than traditional solar panels, which means that the roof only needs to support a very light structure without racks. This reduces production and installation costs, which benefits the growth of the global market for flexible solar panels
According to Pulse Solar, five of the top ten PV module companies in 2019 have experienced a rise in solar panel production by at least 25% compared to 2019. This is expected to provide a lot of potential to the flexible solar panels market.
Market Dynamics:
Driver:
Increasing applications of flexible solar panels in various verticals
Flexible solar panels have several benefits over traditional solar panels. They can be installed on low-load supporting roofs. The absence of structural elements such as ballasts or roof penetrations simplifies installation and reduces labour costs. Thin-Film Adaptability Certain flexible solar panel technologies, which are popular due to their toughness and versatility, are particularly well suited to marine applications, such as aboard boats and yachts, where traditional solar panels cannot be installed. Furthermore, an ultra-thin film solar panel that can be bent as much as a thin sheet of plastic exists.
Restraint:
Easily Breakable
One of the benefits of flexible panels is that they can be bent and flexed. However, excessive bending and flexing can crack the solar cells. If a customer has flexible solar panels on the roof of their home, truck, or RV, branches and trees can scratch the plastic, potentially damaging the solar cells. A single hard hit is all it takes to crack a solar cell, and cracked cells are less efficient, such factors hamper the growth of the market.
Opportunity:
Increasing demand for flexible solar panels in remote areas
Flexible thin-film solar panels have dominated the market for a long time. The first generation of flexible thin-film photovoltaic (PV) modules were made from amorphous silicon, a non-crystalline type of silicon. While early generation a-Si thin-film modules were lightweight and flexible, their power output was poor, with a power efficiency of only 5 to 6%, implying that only 5 to 6% of the sun's energy was converted into electricity. As a result, the power density was low, requiring a large surface area to produce power output comparable to crystalline silicon modules. Solar lanterns, solar home systems, and local solar-based micro-grids provide electricity to over 73 million households in remote areas around the world, rather than a conventional power grid. Off-grid systems and devices provide advanced and enhanced services to those who live in areas without access to centralised electrical grids, while also assisting in the spread of renewable energy usage.
Threat:
Less effective and short life span
When compared to rigid panels, flexible solar panels are less efficient. Flexible solar panels have efficiencies ranging from 10% to 17%, whereas rigid crystalline panels have efficiencies ranging from 16% to 23%. This is because the thin semiconductor films in flexible panels have less material to interact with sunlight. Moreover, the shelf life of flexible panels is not as long as that of rigid panels. Whereas rigid panels can last from 25 to 40 years, flexible panels may only last 15 to 25 years. They aren't particularly efficient to begin with, so when their power output begins to decline, they won't be useful for long. This is also related to durability. Because flexible solar panels are frequently used in recreational settings, they are more likely to be damaged, reducing their shelf life.
Covid-19 Impact
The COVID-19 pandemic has significantly harmed economies all over the world. Various businesses, of all sizes, were severely damaged as a result of the pandemic. Furthermore, various governments around the world were forced to impose lockdowns in order to control the spread of the COVID-19 infection. Furthermore, various countries imposed travel and trade restrictions, causing significant disruptions in the global supply chain. Furthermore, production facilities for flexible solar panels were shut down, effectively halting production of these solar panels.
The Copper Indium Gallium Selenide segment is expected to be the largest during the forecast period
The Copper Indium Gallium Selenide segment is expected to be the largest during the forecast period owing to the expansion of solar photovoltaic capacity. Unusual areas among buildings with sun exposure must be utilised through building integrated photovoltaic technologies. Commercial buildings such as shopping malls, hotels, and office buildings are examples of applications where the flat black colour of a copper indium gallium selenide solar panel looks best in line with architects' visions when compared to conventional solar panels. The increase in smart building investment and construction across developing and developed countries is expected to provide ample opportunities for the growth of the market.
The Industrial segment is expected to have the highest CAGR during the forecast period
During the forecast period, the Industrial segment is expected to grow at the highest CAGR. Flexible solar panels integrated into the building power low-wattage equipment used in industries such as lights, cameras, and others. The increased demand for green energy to meet the surge in application of electricity-powered heavy-duty machinery and automation in the manufacturing industries has led to an increase in demand for flexible solar panels. Furthermore, flexible solar panels are designed to meet low-wattage power requirements in the industrial sector, particularly for peripheral electronic devices. This is expected to provide multiple opportunities for the growth of the flexible solar panels market.
Region with largest share:
Asia-Pacific, which includes China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific, has the largest share of the flexible solar panel market during the forecast period. Because of their large populations and high energy demand, India and China are major players in this region. They also have a large number of megacities with an ever-increasing population. As a result, the demand for energy to make buildings more energy efficient will rise, boosting the market even further.
Region with highest CAGR:
Europe is anticipated to register the highest CAGR during the forecast period owing to rising concerns about carbon emissions from power generation, the transition from non-renewable to renewable energy, and the surge in demand for residential solar energy and panels across the region. Because of the increased adoption of solar PV panels for residential applications, the United Kingdom is Europe's largest market for residential solar photovoltaic (PV) panels. Additionally, the region's market is expected to grow as a result of favourable government policies.
Key players in the market
Some of the key players profiled in the Flexible Solar Panels Market include Hanergy Holding Group Ltd., Enecom Srl, Sunpower Corporation, Flisom AG, Alta Devices, PowerFilm Solar, Inc., SoloPower Systems, Inc., Solbian Energie Alternative Srl, Sun Harmonics co. ltd., Jinko Solar Holding Co., Ltd., Trina Solar Co., Ltd, JA Solar Holdings Co., Ltd., Global Solar Energy, Inc., Miasole, Powerfilm Solar, Inc., FWAVE Company Limited and Uni-Solar
Key Developments:
In December 2021, Jinko Solar came into a partnership with Aldo Solar, the leading supplier of solar energy solutions in Brazil. Through this partnership, the company aimed to grab growth opportunities in Brazil.
In April 2020, Flisom expanded its global footprint by establishing its first high-capacity Solar Panel facility, the HUF12.5bn plant in Kecskemet. Through this expansion, the company aimed to support the Hungarian government by leveraging the expertise of Hungarian engineers and skilled workers
In January 2021, Hanergy Thin Film Power Group signed an agreement with Forest Group, Japanese construction, and solar power conglomerate. Together, the companies focused on optimization in Japan’s photovoltaic market by combining their expertise and rich sectorial experience
Types Covered:
• Copper Indium Gallium Selenide
• Amorphous Silicon
• Cadmium Telluride
• Other Types
Applications Covered:
• Residential
• Industrial
• Aerospace
• Automobile
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Flexible Solar Panels Market, By Type
5.1 Introduction
5.2 Copper Indium Gallium Selenide
5.3 Amorphous Silicon
5.4 Cadmium Telluride
5.5 Other Types
6 Global Flexible Solar Panels Market, By Application
6.1 Introduction
6.2 Residential
6.3 Industrial
6.4 Aerospace
6.5 Automobile
6.6 Other Applications
7 Global Flexible Solar Panels Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Hanergy Holding Group Ltd.
9.2 Enecom Srl
9.3 Sunpower Corporation
9.4 Flisom AG
9.5 Alta Devices
9.6 PowerFilm Solar, Inc.
9.7 SoloPower Systems, Inc.
9.8 Solbian Energie Alternative Srl
9.9 Sun Harmonics co. ltd.
9.10 Jinko Solar Holding Co., Ltd.
9.11 Trina Solar Co., Ltd.
9.12 JA Solar Holdings Co., Ltd.
9.13 Global Solar Energy, Inc.
9.14 Miasole, Powerfilm Solar, Inc.
9.15 FWAVE Company Limited
9.16 Uni-Solar
List of Tables
1 Global Flexible Solar Panels Market Outlook, By Region (2020-2028) ($MN)
2 Global Flexible Solar Panels Market Outlook, By Type (2020-2028) ($MN)
3 Global Flexible Solar Panels Market Outlook, By Copper Indium Gallium Selenide (2020-2028) ($MN)
4 Global Flexible Solar Panels Market Outlook, By Amorphous Silicon (2020-2028) ($MN)
5 Global Flexible Solar Panels Market Outlook, By Cadmium Telluride (2020-2028) ($MN)
6 Global Flexible Solar Panels Market Outlook, By Other Types (2020-2028) ($MN)
7 Global Flexible Solar Panels Market Outlook, By Application (2020-2028) ($MN)
8 Global Flexible Solar Panels Market Outlook, By Residential (2020-2028) ($MN)
9 Global Flexible Solar Panels Market Outlook, By Industrial (2020-2028) ($MN)
10 Global Flexible Solar Panels Market Outlook, By Aerospace (2020-2028) ($MN)
11 Global Flexible Solar Panels Market Outlook, By Automobile (2020-2028) ($MN)
12 Global Flexible Solar Panels Market Outlook, By Other Applications (2020-2028) ($MN)
13 North America Flexible Solar Panels Market Outlook, By Country (2020-2028) ($MN)
14 North America Flexible Solar Panels Market Outlook, By Type (2020-2028) ($MN)
15 North America Flexible Solar Panels Market Outlook, By Copper Indium Gallium Selenide (2020-2028) ($MN)
16 North America Flexible Solar Panels Market Outlook, By Amorphous Silicon (2020-2028) ($MN)
17 North America Flexible Solar Panels Market Outlook, By Cadmium Telluride (2020-2028) ($MN)
18 North America Flexible Solar Panels Market Outlook, By Other Types (2020-2028) ($MN)
19 North America Flexible Solar Panels Market Outlook, By Application (2020-2028) ($MN)
20 North America Flexible Solar Panels Market Outlook, By Residential (2020-2028) ($MN)
21 North America Flexible Solar Panels Market Outlook, By Industrial (2020-2028) ($MN)
22 North America Flexible Solar Panels Market Outlook, By Aerospace (2020-2028) ($MN)
23 North America Flexible Solar Panels Market Outlook, By Automobile (2020-2028) ($MN)
24 North America Flexible Solar Panels Market Outlook, By Other Applications (2020-2028) ($MN)
25 Europe Flexible Solar Panels Market Outlook, By Country (2020-2028) ($MN)
26 Europe Flexible Solar Panels Market Outlook, By Type (2020-2028) ($MN)
27 Europe Flexible Solar Panels Market Outlook, By Copper Indium Gallium Selenide (2020-2028) ($MN)
28 Europe Flexible Solar Panels Market Outlook, By Amorphous Silicon (2020-2028) ($MN)
29 Europe Flexible Solar Panels Market Outlook, By Cadmium Telluride (2020-2028) ($MN)
30 Europe Flexible Solar Panels Market Outlook, By Other Types (2020-2028) ($MN)
31 Europe Flexible Solar Panels Market Outlook, By Application (2020-2028) ($MN)
32 Europe Flexible Solar Panels Market Outlook, By Residential (2020-2028) ($MN)
33 Europe Flexible Solar Panels Market Outlook, By Industrial (2020-2028) ($MN)
34 Europe Flexible Solar Panels Market Outlook, By Aerospace (2020-2028) ($MN)
35 Europe Flexible Solar Panels Market Outlook, By Automobile (2020-2028) ($MN)
36 Europe Flexible Solar Panels Market Outlook, By Other Applications (2020-2028) ($MN)
37 Asia Pacific Flexible Solar Panels Market Outlook, By Country (2020-2028) ($MN)
38 Asia Pacific Flexible Solar Panels Market Outlook, By Type (2020-2028) ($MN)
39 Asia Pacific Flexible Solar Panels Market Outlook, By Copper Indium Gallium Selenide (2020-2028) ($MN)
40 Asia Pacific Flexible Solar Panels Market Outlook, By Amorphous Silicon (2020-2028) ($MN)
41 Asia Pacific Flexible Solar Panels Market Outlook, By Cadmium Telluride (2020-2028) ($MN)
42 Asia Pacific Flexible Solar Panels Market Outlook, By Other Types (2020-2028) ($MN)
43 Asia Pacific Flexible Solar Panels Market Outlook, By Application (2020-2028) ($MN)
44 Asia Pacific Flexible Solar Panels Market Outlook, By Residential (2020-2028) ($MN)
45 Asia Pacific Flexible Solar Panels Market Outlook, By Industrial (2020-2028) ($MN)
46 Asia Pacific Flexible Solar Panels Market Outlook, By Aerospace (2020-2028) ($MN)
47 Asia Pacific Flexible Solar Panels Market Outlook, By Automobile (2020-2028) ($MN)
48 Asia Pacific Flexible Solar Panels Market Outlook, By Other Applications (2020-2028) ($MN)
49 South America Flexible Solar Panels Market Outlook, By Country (2020-2028) ($MN)
50 South America Flexible Solar Panels Market Outlook, By Type (2020-2028) ($MN)
51 South America Flexible Solar Panels Market Outlook, By Copper Indium Gallium Selenide (2020-2028) ($MN)
52 South America Flexible Solar Panels Market Outlook, By Amorphous Silicon (2020-2028) ($MN)
53 South America Flexible Solar Panels Market Outlook, By Cadmium Telluride (2020-2028) ($MN)
54 South America Flexible Solar Panels Market Outlook, By Other Types (2020-2028) ($MN)
55 South America Flexible Solar Panels Market Outlook, By Application (2020-2028) ($MN)
56 South America Flexible Solar Panels Market Outlook, By Residential (2020-2028) ($MN)
57 South America Flexible Solar Panels Market Outlook, By Industrial (2020-2028) ($MN)
58 South America Flexible Solar Panels Market Outlook, By Aerospace (2020-2028) ($MN)
59 South America Flexible Solar Panels Market Outlook, By Automobile (2020-2028) ($MN)
60 South America Flexible Solar Panels Market Outlook, By Other Applications (2020-2028) ($MN)
61 Middle East & Africa Flexible Solar Panels Market Outlook, By Country (2020-2028) ($MN)
62 Middle East & Africa Flexible Solar Panels Market Outlook, By Type (2020-2028) ($MN)
63 Middle East & Africa Flexible Solar Panels Market Outlook, By Copper Indium Gallium Selenide (2020-2028) ($MN)
64 Middle East & Africa Flexible Solar Panels Market Outlook, By Amorphous Silicon (2020-2028) ($MN)
65 Middle East & Africa Flexible Solar Panels Market Outlook, By Cadmium Telluride (2020-2028) ($MN)
66 Middle East & Africa Flexible Solar Panels Market Outlook, By Other Types (2020-2028) ($MN)
67 Middle East & Africa Flexible Solar Panels Market Outlook, By Application (2020-2028) ($MN)
68 Middle East & Africa Flexible Solar Panels Market Outlook, By Residential (2020-2028) ($MN)
69 Middle East & Africa Flexible Solar Panels Market Outlook, By Industrial (2020-2028) ($MN)
70 Middle East & Africa Flexible Solar Panels Market Outlook, By Aerospace (2020-2028) ($MN)
71 Middle East & Africa Flexible Solar Panels Market Outlook, By Automobile (2020-2028) ($MN)
72 Middle East & Africa Flexible Solar Panels Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
