Photovoltaics drive thin-film market for energy applications

September 3, 2008

Wellesley, Mass. — The global market for thin films in energy applications is projected to reach $3.9 billion in 2013 up from $1.1 billion in 2007 for a compound annual growth rate (CAGR) of 23.5%, according to BCC Research.

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 $916.4 million in revenues in 2007. This is slated to increase to $1.2 billion in 2008 and over $3.3 billion in 2013, for a CAGR of 23.6%.

Thin films for fuel-cell applications are the second largest segment, with sales exceeding $82.0 million in 2007. Sales are expected to increase to $98.7 million in 2008 and $301.0 million in 2013, for a CAGR of 25.0%.

Thin films for batteries consume the third largest share of the market, worth $36.0 million in 2007 and an estimated $39.2 million in 2008. This segment should reach over $98.0 million in 2013, for a CAGR of 20.1%. This segment is followed by applications in nuclear energy, which are expected to see the slowest growth of any segment. Revenues in 2007 exceeded $25.0 million and are expected to increase only slightly in 2008. This segment is projected to reach $33.1 million in 2013 for a CAGR of 5.0%.

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

Thin films for geothermal applications hold the smallest share of the market, worth $2.7 million in 2007. This is expected to increase to $3.0 million in 2008 and $5.3 million in 2013, for a CAGR of over 12.0%.¹

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¹Gina Roos; EETimes

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