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Photovoltaics drive thin-film market

Posted: 02 Sep 2008     Print Version  Bookmark and Share

Keywords:thin films  energy applications  photovoltaics  fuel-cell applications 

According to BCC Research, the global market for thin films in energy applications is projected to reach Rs.16,714.80 crore ($3.9 billion) in 2013 up from Rs.4,714.43 crore ($1.1 billion) in 2007 for a compound annual growth rate (CAGR) of 23.5 per cent.

The new technical market research report, "The Global Market for Thin Films in Energy Applications", divides the market into application segments for photovoltaics, concentrating solar power, geothermal energy, nuclear energy, batteries and fuel cells. Of these, the photovoltaics segment holds the largest share of the market, with Rs.3,927.55 crore ($916.4 million) in revenues in 2007. This is slated to increase to Rs.5,143.02 crore ($1.2 billion) in 2008 and over Rs.14,143.29 crore ($3.3 billion) in 2013, for a CAGR of 23.6 per cent.

Thin films for fuel-cell applications are the second largest segment, with sales exceeding Rs.351.44 crore ($82.0 million) in 2007. Sales are expected to increase to Rs.423.01 crore ($98.7 million) in 2008 and Rs.1,290.04 crore ($301.0 million) in 2013, for a CAGR of 25 per cent.

Thin films for batteries consume the third largest share of the market, worth Rs.154.29 crore ($36.0 million) in 2007 and an estimated Rs.168.01 crore ($39.2 million) in 2008. This segment should reach over Rs.420.01 crore ($98.0 million) in 2013, for a CAGR of 20.1 per cent. This segment is followed by applications in nuclear energy, which are expected to see the slowest growth of any segment. Revenues in 2007 exceeded Rs.107.15 crore ($25.0 million) and are expected to increase only slightly in 2008. This segment is projected to reach Rs.141.86 crore ($33.1 million) in 2013 for a CAGR of 5 per cent.

Concentrating solar power applications are expected to see the most robust growth of any segment. Sales for thin films in this segment generated Rs.63.00 crore ($14.7 million) in 2007 and an estimated Rs.100.29 crore ($23.4 million) in 2008. This is expected to reach Rs.398.58 crore ($93.0 million) in 2013 for a CAGR of 31.8 per cent.

Thin films for geothermal applications hold the smallest share of the market, worth Rs.11.57 crore ($2.7 million) in 2007. This is expected to increase to Rs.12.86 crore ($3.0 million) in 2008 and Rs.22.71 crore ($5.3 million) in 2013, for a CAGR of over 12 per cent.

-Gina Roos
eeProductCenter





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