Overview and Scope
Cadmium telluride is a stable crystalline compound formed from cadmium and tellurium, with a high melting point of 1041°C and a vapor pressure of zero at ambient temperatures. It is primarily used in thin-film solar cell technology for efficient and cost-effective conversion of sunlight into electricity.
Sizing and Forecast
The cadmium telluride market size has grown rapidly in recent years. It will grow from $4.79 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to early adoption in solar technology, renewable energy policies, cost-effective manufacturing, industrial automation needs, energy efficiency focus.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/cadmium-telluride-global-market-report
Segmentation & Regional Insights
The cadmium telluride market covered in this report is segmented –
1) By Product: Powder, Crystal, Other Products
2) By Application: Solar Battery, Semiconductor, Laboratory Equipment, Other Applications
3) By End User: Residential, Commercial, Industrial, Utility
North America was the largest region in the cadmium telluride market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cadmium telluride market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13817&type=smp
Major Driver Impacting Market Growth
The increasing use of renewable energy is expected to propel the growth of the cadmium telluride market going forward. Renewable energy refers to a type of energy derived from naturally replenishing sources, such as sunlight, wind, and water, that is sustainable and environmentally friendly. Cadmium telluride helps increase the use of renewable energy by being a low-cost and efficient material used in the production of photovoltaic solar cells, which can convert absorbed sunlight into electricity. For instance, in December 2023, according to reports published by the Department for Energy Security and Net Zero, a UK-based government department, renewable electricity generation reached 30.1 TWh in Quarter 3rd of 2023, marking a 6.8% increase compared to the same period in 2022, with the addition of 2.9 GW of new renewable capacity, including a significant rise in solar PV and wind installations, leading to renewables’ share reaching 44.5% of total electricity generation. Therefore, the increasing use of renewable energy is driving the growth of the cadmium telluride market.
Key Industry Players
Major companies operating in the cadmium telluride market report are General Electric Company, China National Building Materials Co. Ltd, Jinko Solar, Hanwha Q CELLS Co. Ltd., Amptek Inc., First Solar Inc., National Renewable Energy Laboratory (NREL), China Sunergy Co. Ltd., Abound Solar (United Power), 5N Plus, RenewSys, Astronergy Solar, Green-tech, Kurt J. Lesker Company, AVANCIS GmbH, Janos Technology LLC, Global Solar Energy Inc., Antec Solar Energy AG, Calyxo GmbH, Lucintech Inc., Advanced Solar Power (Hangzhou) Co. Ltd., Dmsolar LLC, PrimeStar Solar, D2 Solar LLC, MaTecK GmbH, Reel Solar, Xunlight Corporation, Shanghai Chaori Solar Energy Science & Technology Co. Ltd
The cadmium telluride market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
…………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
