According to the Market Statsville Group (MSG), the global flexible solar panels market size is expected to grow around USD 1,100.6 million by 2033, at a CAGR of 6.9% from 2023 to 2033.
Today, the demand for an alternative energy source has increased, and as solar energy is a renewable resource backed by the government's ambitious green energy plans, it has drawn much attention from investors. The development of solar powerhouses and a rise in electricity production utilizing solar energy over the past ten years in nations like China, Germany, India, and the United States have fueled the demand for flexible solar panels. The flexible solar panel opens up new opportunities for the solar panel's use. The flexible solar panel is extremely light and thin. The flexible solar panel can be adapted better than the conventional rigid panel. Thin-film technology is the foundation of the flexible solar panel. On inexpensive substrates, thin films can be deposited and manufactured on substrates the size of modules. The benefit of a flexible solar panel is roll-to-roll manufacturing, which yields monolithically integrated solar modules, resulting in a short payback period for energy due to high throughput processing and the system's low cost. Rollable solar panels can be transported or stored, then unrolled for usage. These devices are much more mobile and durable than conventional solar panels.
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Scope of the Global Flexible Solar Panels Market
The study categorizes the flexible solar panels market based on type and application at the regional and global levels.
By Type (Sales, USD Million, 2019-2033)
- Amorphous Silicon
- Cadmium Telluride
- Copper Indium Gallium Selenide
- Others
By Application Outlook (Sales, USD Million, 2019-2033)
- Residential
- Commercial
- Others
By Region Outlook (Sales, USD Million, 2019-2033)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
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Copper Indium Gallium Selenide (CIGS) Segment accounts for the largest market share during the forecast period by Type
Based on type, the market is bifurcated into amorphous silicon, cadmium telluride, copper indium gallium selenide, and others. In 2022, the copper indium gallium selenide segment accounted for the largest market share. To increase the capacity of solar photovoltaic systems, CIGS is essential. Taking advantage of the atypical placements among structures with access to solar energy resources is vital while using integrated photovoltaic technology in buildings. The flat black hue of CIGS solar panels is used in commercial structures, including malls, hotels, and office buildings. Additionally, the market for CIGS flexible solar panels is anticipated to have strong growth due to the fact that CIGS solar panels have much better temperature coefficients and are the most ideal for buildings in both emerging and established nations.
Asia Pacific is projected to account for the largest market share, by Region
Based on the regions, the global flexible solar panels market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific will dominate the global flexible solar panels market in 2022. China, Japan, Australia, India, South Korea, and the rest of Asia-Pacific make up the region with the biggest market share for flexible solar panels. India and China are significant participants in this region because of their large populations and high energy needs. Additionally, they are the location of numerous megacities with rising populations. By 2050, it is anticipated to have the greatest urban population.
Key Market Players in the Global Flexible Solar Panels Market
The global flexible solar panels market is quite competitive, with key industry players adopting strategies such as product development to strengthen their market positions.
Major players in the global flexible solar panels market are:
- SunPower Corporation
- Flisom AG
- PowerFilm Solar
- Solbian Energie Alternative Srl
- RNG International Inc
- Enecom S.r.l.
- Hanergy Thin Film Power Group
- Miasolé
- Enecom
- Global Solar Energy
- Solbian
- Sunflare
- Burnsco
- Alta Devices
- Sungold
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Recent Developments
- In September 2022, SunPower had invested in EmPower Solar and Renova Energy on a limited basis. Renova and EmPower are the newest members of SunPower's Dealer Accelerator Program as a result of these investments.
- In July 2019, TAM-Europe and Global Solar Energy had developed an airport shuttle bus thin-film roof system in collaboration, which intends to work together to create a new design for the solar-powered shuttle bus that makes use of a flexible thin-film module.
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