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Table Of Content
April 2025
The global thin-film photovoltaics market size is calculated at USD 7.20 billion in 2025 and is forecasted to reach around USD 25.59 billion by 2034, accelerating at a CAGR of 15.14% from 2025 to 2034. The Asia Pacific market size surpassed USD 2.81 billion in 2024 and is expanding at a CAGR of 15.27% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
The global thin-film photovoltaics market size accounted for USD 6.25 billion in 2024 and is predicted to increase from USD 7.20 billion in 2025 to approximately USD 25.59 billion by 2034, expanding at a CAGR of 15.14% from 2025 to 2034. The market growth is attributed to rising global investments in renewable energy, accelerating demand for high-efficiency solar modules, and increasing adoption of thin-film technology in utility-scale and building-integrated applications.
Artificial intelligence (AI) is transforming the market of thin-film photovoltaics based on thin-films, as it will push the efficiency at all levels of the value chain. Process controllers use AI to refine deposition methods and track material consistency, and monitor defects at a micro-level. This allows manufacturers to minimize wastage and ensure that the modules perform consistently. Furthermore, with governments and investors driving towards fast decarbonization, AI integration into this market not only optimizes competitiveness but also increases the long-term sustainability of thin-film photovoltaics within the global energy mix.
The Asia Pacific thin-film photovoltaics market size was exhibited at USD 2.81 billion in 2024 and is projected to be worth around USD 11.64 billion by 2034, growing at a CAGR of 15.27% from 2025 to 2034.
Why Does Asia–Pacific Continue to Lead Regional Growth in the thin-film Photovoltaics Market?
Asia Pacific led the thin-film photovoltaics market, capturing the largest revenue share in 2024, which held a market share of about 45%, due to spearheading utility-scale miniaturizations in China, India, and Southeast Asia. The region developers were drawn to high-irradiance solar parks, and thin-film modules were performing better than the crystalline in hot, diffuse-light conditions, reinforcing project LCOE.
IRENA affirmed that newer renewable capacity is adding more than 71% in Asia with over 413 GW of new generation, which will continue to drive high procurement through 2025-2026. In 2024, China alone accounted for a large portion of the world's PV installations, which formed the basis of platform-scale demand and supply synergies. Moreover, the Production-Linked Incentive (PLI) programme in India has been expanded in 2024, which focuses on lightweight and efficient solar technologies, further facilitating the market in this region.
Europe is anticipated to grow at the fastest rate in the market during the forecast period, owing to the strict building energy standards. The updated EU Energy Performance of Buildings Directive 2024 requires all new constructions to be solar-ready and is likely to drive the adoption of flexible, semi-transparent thin-film modules.
Municipal net-zero retrofit and architectural integration initiatives are expected to redirect attention to the growth of BIPV. Local construction alliances and manufacturers who are aligned with local construction codes. This is likely to spur a surge in the integration of thin-film into facades and public buildings on a multi-year basis throughout the EU. Furthermore, the solar companies, such as Oxford PV, Hanergy, and CNBM, to commercializing semi-transparent modules, solidifying a transition in Europe between utility-scale focus and embedded solar in the built environment. (Source: https://energy.ec.europa.eu)
The growing focus on clean energy infrastructure being increased worldwide is expected to drive the thin-film photovoltaics market. Thin-film solar technology employs ultra-thin coats of cadmium telluride (CdTe), copper indium gallium selenide (CIGS), and amorphous silicon (a-Si) on a substrate, either glass, plastic, or metal. This turns the modules to be lightweight, bendable, and more adaptable building-integrated photovoltaics (BIPV), portable devices, and utility-scale projects in hot climates where crystalline silicon tends to perform poorly. (Source: https://www.iea.org)
The International Energy Agency (IEA) forecasts that the investment in clean energy worldwide would go beyond USD 3 trillion in 2024, with solar energy registering the greatest%age of the new capacities. As noted by the IRENA 2024 report, solar PV had an installed capacity of 1,419 GW worldwide, and the thin-film was steadily making contributions to areas that are more land-conscious and lightweight. In the pursuit of its solar manufacturing revival plan, the European Commission Repower EU initiative still encourages the integration of thin-film into the roofs, facades, and transport. Such emerging economies, including India and China, with the help of the International Solar Alliance (ISA) and China Photovoltaic Industry Association (CPIA) policies, accelerate the diversification of PV technologies, such as thin-film, to enhance energy security.
(Source: https://re-invest.in)
| Report Coverage | Details |
| Market Size by 2034 | USD 25.59 Billion |
| Market Size in 2025 | USD 7.20 Billion |
| Market Size in 2024 | USD 6.25 Billion |
| Market Growth Rate from 2025 to 2034 | CAGR of 15.14% |
| Dominating Region | Asia Pacific |
| Fastest Growing Region | Europe |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
| Segments Covered | Technology, Module Type, End-User Industry, Application, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Why Is the Rising Need for Flexible and Lightweight Modules Strengthening the Thin-Film Photovoltaics Market?
Increasing demand for lightweight and flexible solar modules is expected to accelerate the growth of the thin-film photovoltaics market. The demand for lightweight and flexible solar modules is increasing, and this is likely to propel the use of these modules in rooftop, portable, and off-grid usage. According to the International Energy Agency (IEA), the number of households adopting solar PV is projected to rise from around 25 million today to over 100 million by 2030 under the Net Zero Emissions by 2050 (NZE) Scenario. The cadmium telluride (CdTe), amorphous silicon (a-Si), and copper indium gallium selenide (CIGS) thin-film technologies offer better weight-to-power ratios than crystalline silicon. Their versatility on non-standard surfaces such as building facades, car roofs, and consumer electronics improves their marketability.(Source: https://www.energy.gov)
These modules are being favoured by industries that specialize in integrated solar solutions in the field of transportation and consumer goods because of their design flexibility. This is an advantage that makes the thin-film photovoltaics a viable option in regions where the installation of traditional rigid panels is restricted. In 2024, the US had manufactured 4.2 GW of PV modules, including a sizeable share of thin-film modules, as more manufacturers migrate towards the flexible and lightweight manufacturing.(Source: https://pubs.rsc.org)
International studies have put laboratory efficiencies of 23.6% for CIGS cells on glass and 22.2% for flexible CIGS substrates, which supports good performance in designs that are bendable. Furthermore, the growing emphasis on cost-effective solar energy solutions is anticipated to strengthen the competitiveness of thin-film technology in the coming years.
(Source: https://www.iea.org)
Shorter Lifespan and Degradation Challenges Restricting the Thin-Film Photovoltaics Market
Shorter lifespan and degradation issues, likely to restrict adoption in conservative markets, further hindering the market growth. Crystalline silicon panels have a longer degradation curve than a thin-film module, which negatively affects long-term performance guarantees. This technical perception reduces the confidence of the utility investors, especially in markets where power purchase contracts need 25-30 years of life. Furthermore, the restrain growth due to high initial capital requirements for thin-film manufacturing facilities, anticipated to create entry barriers for new players.
Can Rising Global Investments in Renewable Infrastructure Accelerate the Expansion of the Thin-Film Photovoltaics Market?
Surging investments in renewable energy infrastructure are projected to create substantial opportunities for the thin-film installations market. International decarbonization and net-zero pledges compel states and businesses to hasten the scaling up of solar use. Thin-film modules are gaining momentum for their capacity to perform exceptionally well in hot-temperature zones and on cloudy days. The IRENA reports that the total investment in renewable power worldwide reached over USD 600 billion in 2024, and the biggest portion of investment went to solar power.
Utility-scale developers in Asia, the Middle East, and Latin America are progressively focusing on thin-film initiatives as a platform to support a predictable energy supply and diversify their renewable portfolios. The presence of public-private partnerships helps to scale up grid expansion actions, whereas programmes, such as the Repower EU plan (2024) by the European Union and the National Solar Mission plan (2024) by India, are active in providing funds to innovative PV technologies. Furthermore, the rising focus on building-integrated photovoltaics (BIPV) is expected to drive demand for thin-film technologies, further fuelling the market. (Source: https://www.iea.org)
Why is Cadmium Telluride (CdTe) Technology Dominating the Thin-Film Photovoltaics Market?
Cadmium telluride (CdTe) segment dominated the thin-film photovoltaics market in 2024, accounting for an estimated 45% market share, due to its outstanding cost-to-performance ratio, energy payback time of less than a year, and ability to withstand high temperature and low light environments. Furthermore, the increases in recycling and recycling models such as closed-loop recycling facilities made by First Solar also contributed to the sustainability credentials, thus further boosting the segment in the coming years.
The perovskite thin-film segment is expected to grow at the fastest rate in the coming years, owing to its unrivaled efficiency enhancement rate and wide usage. In 2024, laboratory records at Oxford PV and NREL showed perovskite-silicon tandem cells with an efficiency outperforming most thin-film competitors. Additionally, the potential to grow perovskites onto flexible platforms, and with superior temperature capabilities than CdTe or silicon, is expected to reduce the cost of production, thus propelling their utilization.
(Source: https://www.energy.gov)
How are Flexible thin-film Modules Emerging as the Leading Choice in the thin-film Photovoltaics Market?
Rigid thin-film modules segment held the largest revenue share in the thin-film photovoltaics market in 2024accounting for 60% of the market share. Due to their lifespan, established supply chain, and low cost performance in large-scale utility projects placed as the top type of module. Furthermore, the high utilization in grid-tied utility applications and bankability over the long, gave rigid thin-film modules their dominant role in the new market environment.
The flexible thin-film modules segment is expected to grow at the fastest CAGR in the coming years, owing to the flexibility, lightweight feature, and growing use in non-traditional energy markets. Their capability to be incorporated into building-integrated photovoltaics (BIPV), transportation, and portable power is expected to hasten implementation. Additionally, the alliances with large construction companies are expected to drive faster adoption in the BIPV markets, where aesthetic and functional flexibility are one of the primary distinguishing factors.
What Makes Utility-Scale Installations the Largest Application Segment in the Thin-Film Photovoltaics Market?
Utility-scale power plants segment dominated the thin-film photovoltaics market in 2024, due to their limited to utility-scale power plants, which comprised almost half of all worldwide installations. Large-scale use of cadmium telluride (CdTe) and amorphous silicon (a-Si) modules in solar farms, where efficiency, scalability, and cost-effectiveness are the determinants of project feasibility, has contributed to the growth of the segment.
The International Energy Agency (IEA, 2024) indicates that the size of utility-scale solar capacity worldwide exceeded 600 GW. In countries with high temperatures and diffuse light, where crystalline silicon panels were less efficient, a large share of capacity was made by thin-film technologies. In desert and semi-arid conditions, thin-film modules showed an improved energy output per installed kilowatt-hour and solidified their case in the value proposition of large-scale projects. Furthermore, the established long-term stability and minimization of the risks of investments for thin-film photovoltaics further fuel the market. (Source: https://iea-pvps.org)
Building-integrated photovoltaics (BIPV) segment is expected to grow at the fastest CAGR in the coming years, owing to the increasing energy-positive buildings and sustainable urban infrastructure requirements. Thin-film technologies, especially perovskite and flexible CIGS modules, will hasten the movement into windows, facades, and rooftops due to their lightweight design, aesthetic flexibility, and high performance in low-light scenarios.
The European Commission of Renovation Wave Strategy (2024) exclaims that over 35 million buildings in the EU will have energy-efficient renovations before 2030, which is a big opportunity in terms of BIPV adoption. Additionally, the increasing corporate responsibilities to eco-friendly buildings also spur the need for transparent photovoltaic glass and integrated solar facades, which improve the business case of thin-film BIPV. (Source: https://energy.ec.europa.eu)
Why is the Energy & Power Sector the Key End-User Driving the thin-film Photovoltaics Market?
The energy & power utilities segment held the largest revenue share in the thin-film photovoltaics market in 2024, accounting for an estimated 55% market share, due to the massive implementation of CdTe and CIGS modules into grid-connected solar farms. The lower levelized cost of electricity (LCOE) and enhanced performance in extreme temperature environments rendered thin-films a powerful option.
Demand was also supported by government-supported clean energy requirements. The U.S. Department of Energy 2023 report emphasized that thin-film solar played an important role in the projects by the Solar Energy Technologies Office that aims to achieve 100% clean electricity by 2035. Furthermore, the policy support, technical appropriateness, and financial stability combination entrenched the energy and power utility segment dominance. (Source: https://www.energy.gov)
The automotive & transportation segment is expected to grow at the fastest rate in the coming years, owing to the escalating demand to incorporate built-in renewable energy in vehicles and transport systems. Flexible thin-film modules are expected to find favor in vehicle-integrated photovoltaics (VIPV), especially on electric vehicles (EVs), buses, and refrigerated trucks, in which on-board solar power generation minimizes grid reliance and extends range.
The International Energy Agency reported in its Global EV Outlook 2024 that there were more than 45 million units of EVs in the world and that this is a strong platform to integrate solar. Technologies such as perovskite and CIGS are thin-film technologies, which have lightweight and flexible characteristics, which are expected to be dominant in this application space. Moreover, the Japanese automakers have been testing thin-film PV on commercial vehicles and buses in Asia, and China is expected to drive VIPV demand with its EV push program. (Source: https://www.iea.org)
How is the Direct Sales Channel Strengthening its Hold on the thin-film Photovoltaics Market?
The direct-to-project developers segment dominated the thin-film photovoltaics market in 2024, accounting for 58% market share. Manufacturers reinforced this route by signing long-term contracts with utility-scale developers. This maximized logistics, minimized the cost, and enabled the customization of modules precisely when deployed in large volumes. Furthermore, the thin-film module integration in these big projects took advantage of volume purchasing and special logistics infrastructure, thus further boosting the market.
The online & emerging platforms segment is expected to grow at the fastest rate in the coming years, owing to the digital transformation and the development of decentralized solar procurement. These channels extended the market presence with the ease of access of scaled-down, flexible access to smaller and mid-sized customers, such as rooftop and building-integrated systems.
In 2024, under the PM Surya Ghar program in India, rooftop solar installations topped 1.1 GW in the first half of the year, facilitated by models of digital portal support and subsidy payment. Additionally, the new platforms integrated logistics performance, transparency of supply chain, and elastic financing to make thin-film solutions very accessible, particularly in urban and remote locations. (Source: https://www.mercomindia.com)
By Technology
By Module Type
By Application
By End-User Industry
By Distribution Channel
By Region
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April 2025