Global market for thin films in energy applications to see CAGR of 23.5%

26-Aug-08

Global market for thin films in energy applications is currently worth US$1.1 bln in 2007, expected to increase to US$1.4 bln in 2008. By 2013, it will increase to US$3.9 bln at a compound annual growth rate (CAGR) of 23.5%, as per a new technical market research report by BCC Research, The market is divided into application segments for photovoltaics, concentrating solar power, geothermal energy, nuclear energy, batteries and fuel cells. Of these, the photovoltaics segment has the largest share of the market, with US$916.4 million in revenues in 2007. This is slated to increase to US$1.2 billion in 2008 and over US$3.3 billion in 2013, a CAGR of 23.6%. Thin films for fuel cell applications are the second largest segment, with sales exceeding US$82.0 million in 2007. This should increase to US$98.7 million in 2008 and US$301.0 million in 2013, for a CAGR of 25.0%. Thin films for batteries have 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%. Applications in nuclear energy 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 should 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 have 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, a CAGR of over 12.0%.