Residential Segment is Expected to Dominate the Global Cadmium Telluride Photovoltaic Market.
According to
TechSci Research report, “Global Cadmium Telluride
Photovoltaic Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”. Global Cadmium
Telluride Photovoltaic is anticipated to project robust growth in the forecast
period with a CAGR of 14.02% through 2028. Cadmium telluride (CdTe) is obtained
from telluride and cadmium. Cadmium telluride is a stable crystalline compound
that is formed from cadmium and tellurium. It is used in solar cells and
optical materials which are used in lenses and optical windows. It is used to
convert sunlight into electricity also in photovoltaic cells. The product made
from cadmium telluride requires simple manufacturing and is cheaper as compared
to other materials. These products are more electro-optic coefficient than any
other compounds. Hence used in electro-modulators. Cadmium telluride is used in
many applications such as semiconductors, solar batteries and laboratory
equipment, and many others. Cadmium telluride-based polar panels are the only
first thin-film photovoltaic technology that surpassed the solar crystalline
silicon. Demand
for photovoltaic solar cells is increasing and this will increase the growth of
the cadmium telluride market. The conventional energy sources are depleting,
this creates more use of renewable sources and will create good opportunity for
the cadmium telluride market. Renewable sources such as solar cells have
cadmium as the major unit, which will drive the cadmium telluride market. The
government of various countries is investing and initiating in the solar sector
this will fuel up the growth of the cadmium telluride market. However, out of
many opportunities, many strict regulations and the supply shortage of cadmium
telluride, the low efficiency of cadmium telluride can restrain the growth of
the market.
On the other hand, easy manufacturing of cadmium telluride and the
availability of the excess amount of cadmium help to expand the market. The
ability of cadmium telluride to absorb sunlight to its ideal wavelength can
also lead to the growth of the product.
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Figures spread through 188 Pages and an in-depth TOC on " Global Cadmium Telluride
Photovoltaic Market.”
CdTe-based PV is considered a
thin-film technology because the active layers are just a few microns thick, or
about a tenth the diameter of a human hair. A schematic of a typical CdTe solar
cell is shown here. Transparent conducting oxide (TCO) layers such as SnO2 or
Cd2SnO4 are transparent to visible light and highly conductive to transport
current efficiently. Intermediate layers such as CdS help in both the growth
and electrical properties between the TCO and CdTe. The CdTe film acts as the
primary photoconversion layer and absorbs most visible light within the first
micron of material. Together, the CdTe, intermediate, and TCO layers form an
electric field that converts light absorbed in the CdTe layer into current and
voltage. Metal is placed on the back to form electrical contacts. In
production, all these layers are deposited on incoming glass and processed into
complete solar panels in just a few hours.
Key market players in the Global
Cadmium Telluride Photovoltaic Market are following:
- Biffa Group
- Clean Harbors, Inc.
- Covanta Holding Corporation
- Veolia Environment SA
- Waste Connections
- Remondis AG & Co. Kg
- Suez Environment S.A.
- Daiseki Co. Ltd
- Cadmium Telluride Photovoltaic Inc.
- Republic Services
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“One of the main
advantages of CdTe solar cells is their potential for cost-effective
production. CdTe modules have historically had lower manufacturing costs
compared to traditional crystalline silicon solar cells. Continuous research
and development efforts aim to enhance the conversion efficiency of CdTe solar
cells. Improvements in efficiency make CdTe technology more competitive with
other solar technologies. CdTe has favorable light absorption characteristics,
allowing for high efficiency in converting sunlight into electricity. This makes
CdTe solar cells suitable for areas with lower light conditions. The growth of
the CdTe photovoltaic market can be influenced by increasing global demand for
solar energy and supportive government policies. Incentives, subsidies, and
regulations that promote the use of renewable energy sources can drive the
adoption of CdTe technology. CdTe solar cells generally have a lower carbon
footprint compared to traditional silicon solar cells. They also have the
potential for easier recycling, addressing concerns about the environmental
impact of solar panel disposal. ” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
Cadmium Telluride
Photovoltaic Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast Segmented By Source (Tellurium and
Cadmium), By Application (Solar PV, Optical Lenses and Windows, Electro-Optic
Modulator, Nuclear Spectroscopy and Infrared Optical Material), By End User
(Residential, Commercial, Industrial and Utility) By Region, By Competition
2018-2028.has evaluated the future
growth potential of Global Cadmium Telluride Photovoltaic Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Cadmium Telluride
Photovoltaic Market.
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