New York, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cadmium Telluride Solar Panel Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027" - https://www.reportlinker.com/p06267895/?utm_source=GNW
Global cadmium telluride solar panel market is anticipated to grow with an impressive CAGR in the forecast period, 2023-2027 on account of growing usage of cadmium telluride based solar panel in end use application. Moreover, surge in demand for renewable energy sources along with the adoption of renewable sources to maximize the energy output through these methods and products, is further driving the growth of the global cadmium telluride solar panel market in the upcoming five years.
Cadmium telluride solar panels are photovoltaic devices that utilize solar energy and convert it into electronic energy.A thin layer of cadmium telluride performs the function of energy conversion.
Other crystalline silicon based devices may be more efficient than cadmium telluride solar panels but are more expensive to produce.But the advancing technology of cadmium telluride solar panels may generate higher capacity as compared to silicon based solar panels.
CdTe, Cadmium Telluride is a commonly used material in thin film solar panels.Though cadmium is a toxic heavy metal and extremely dangerous.
Cadmium is a waste byproduct of mining, smelting and refining sulfidic ores of zinc refining.
Technological Advancement Drives Market Growth
Rapidly increasing demand for cadmium telluride in the electro-optic modulator owing to the high electro-optic coefficient of the material is driving the growth of the global cadmium telluride solar panel market. Also, increasing demand for renewable sources of energy for the utilization of the solar energy for generation of the electric energy is supporting the growth of the global cadmium telluride solar panel market in the next five years.
According to IRENA 2021, total renewable energy production in the year 2020 was recorded to be 2,799,094 MW globally.In the US alone, 292,065 MW of renewable energy production was recorded.
Increasing demand for generation of electric energy from solar energy is further substantiating the growth of the global cadmium telluride solar panel market in the future five years.
Market Segmentation
The global cadmium telluride solar panel market is segmented based on end use, application, material, regional distribution, and competitive landscape.Based on end use, the market is segmented into residential, commercial, industrial, and utility.
On the basis of application, the market is sub-segmented into cell efficiency, process optimization, ambient temperature, and solar tracking.Based on material, the market is fragmented into Cadmium and Telluride.
The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.
Company Profile
First Solar, Toledo Solar, Calyxo GmbH, Advanced Solar Power, Antec Solar GmbH, Dmsolar LLC, Nexcis, Reel Solar, Lucintech Inc., are enlisted in a partial list of major market players of the global cadmium telluride solar panel market.
Report Scope:
In this report, global cadmium telluride solar panel market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Cadmium Telluride Solar Panel Market, By End Use:
o Residential
o Commercial
o Industrial
o Utility
• Cadmium Telluride Solar Panel Market, By Application:
o Cell Efficiency
o Process Optimization
o Ambient Temperature
o Solar Tracking
• Cadmium Telluride Solar Panel Market, By Material:
o Cadmium
o Telluride
• Cadmium Telluride Solar Panel Market, By Region:
o North America
United States
Mexico
Canada
o Europe
France
Germany
United Kingdom
Italy
Spain
Poland
Denmark
o Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Malaysia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Iraq
Turkey
o South America
Brazil
Argentina
Colombia
Peru
Chile
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global cadmium telluride solar panel market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06267895/?utm_source=GNW
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