Glen Allen, VA (PressExposure) February 26, 2011 -- Industry analyst firm NanoMarkets has just published its latest market analysis and forecast of the CIGS photovoltaics business. According to NanoMarkets' new report, sales of CIGS are expected to grow from around $615 million this year to reach $3.7 billion in 2016. The report also notes that there are now more than 50 producers in the CIGS market, more than double the number of a few years back.
NanoMarkets notes that this somewhat bullish forecast is based in part on the fact that CIGS is the only commercialized PV technology that can combine conversion efficiencies that are close to conventional PV with the thinness, and light-weight associated with thin-film PV. In addition, the report notes that the prospects for CIGS have been bolstered by the willingness of large firms such as Intel, Shell, Dow Chemical and LG to invest significant amounts of capital in CIGS even during a recessionary period.
The market for conventional PV panels using CIGS as an absorber material is expected to reach $2.9 billion in 2016. However, NanoMarkets expects that 2016 will be when significant revenue will be generated by CIGS-based building-integrated PV (BIPV) with sales of this technology expected to reach $721 million by 2016.
Additional details are available at http://www.nanomarkets.net.
About the Report:
"CIGS Photovoltaics Market Opportunities 2011" is the latest report from NanoMarkets in its ongoing coverage of thin-film PV. In this report, NanoMarkets identifies the market segments where CIGS firms can most profitably operate and analyzes the latest developments at the leading firms in terms of capacity expansion, financing and deployment of the latest production technology. The report also discusses the impact of the changing environment in the materials industry, especially in the light of recent efforts by the Chinese government to constrain the export of indium.
Among the firms discussed in this report are AQT, Ascent Solar, CIS Solartechnik, CIS Solar, Global Solar, Heliovolt, ISET, Jenn Feng, Miasole, Nanosolar NEXCIS, Odersun, Scheuten Solar, Solarion, SoloPower, Stion, Sulfercell and Telio.