Segments - by Component (Front Contact, Absorber Layer, Back Contact, Substrate), by Material Type (Flexible and Rigid), by Installation Type (Ground-mounted, Roof-mounted, Floating Solar Systems), by Module Type (Monofacial and Bifacial), by Technology (CIGS, CIS), by Application (Residential, Commercial, Industrial, Utility-scale, Off-grid), by End-Use (Solar Power Plants, Residential Solar Systems, Building-Integrated Photovoltaics, Automotive & Transport, Consumer Electronics)
The global Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market size was USD 3.5 billion in 2023 and is likely to reach USD 13.8 billion by 2032, expanding at a CAGR of 16.7% during 2024–2032. The market growth is attributed to the continuous advancements in the efficiency and cost-effectiveness of CIGS solar technology.
Over the years, manufacturers have made significant strides in enhancing the conversion efficiency of CIGS solar cells, thereby improving their competitiveness with other types of solar technologies, such as silicon-based panels. CIGS solar cells, due to their unique thin-film nature, are produced at lower costs compared to traditional crystalline silicon solar cells, which has been a key factor in the growing market adoption. CIGS solar cells are now increasingly viewed as a viable alternative for residential and commercial solar installations, due to reduced manufacturing costs and higher energy conversion.
The versatility of the CIGS modules has further contributed to their rising popularity. CIGS solar cells are applied to a wide range of surfaces and products, including flexible substrates, which makes them suitable for unconventional and space-constrained installations. This flexibility opens new market opportunities in areas such as building-integrated photovoltaics (BIPV) and solar-powered consumer electronics. Furthermore, their lightweight and thin properties make them particularly attractive for mobile and off-grid applications. The market for these solar modules is expected to expand rapidly as demand for renewable energy continues to rise globally and CIGS technology further develops, driven by both technological and application-based innovation.
The increasing focus on renewable energy sources is a major market driver. Governments and businesses around the world are shifting their focus to renewable energy sources with increasing concerns about climate change, environmental degradation, and the need for sustainable energy solutions. Solar energy, as one of the most abundant and clean sources of power, has gained significant attention. CIGS solar cells, with their high efficiency and lower production costs compared to traditional crystalline silicon panels, are an attractive option for expanding solar capacity, especially in markets where reducing energy costs and improving energy efficiency are critical properties. Furthermore, many governments are offering incentives, subsidies, and rebates for solar adoption, which accelerates the demand for all types of solar technologies, including CIGS.
Technological advancements in CIGS solar cells are contributing to market expansion. Over the past decade, CIGS solar technology has witnessed considerable improvements in both efficiency and production processes. CIGS cells are now capable of converting a higher percentage of sunlight into electricity, narrowing the performance gap between them and traditional silicon-based solar cells. The development of new materials and innovative manufacturing techniques has also reduced the overall production costs of CIGS modules. This, in turn, makes the technology more accessible for a wider range of applications, from residential rooftop systems to large-scale solar power plants. Additionally, innovations such as flexible and lightweight solar modules open up new possibilities for solar integration into unconventional settings such as BIPV, solar-powered vehicles, and even wearable devices.
The increasing demand for lightweight, flexible, and versatile solar panels is a significant driver. CIGS technology is particularly well-suited for this need due to its thin-film nature. CIGS modules are made on flexible substrates, unlike traditional rigid silicon panels, which allows them to be integrated into various surfaces, such as curved rooftops, facades, or even fabric-based materials. This flexibility and versatility make CIGS panels ideal for applications where traditional panels may not be viable, such as in mobile devices, solar-powered vehicles, or areas with limited space for large, bulky solar arrays.
Material scarcity and supply chain challenges limit the market. The scarcity and cost of critical raw materials such as indium, gallium, and selenium hinder the market. These materials, while abundant compared to some other semiconductors, are still relatively rare and expensive. The reliance on these materials makes the production of CIGS modules vulnerable to price fluctuations and supply chain disruptions. The limited availability of these elements hinders the scalability of CIGS solar technology in the long run, especially as the demand for solar cells grows globally.
The lower efficiency as compared to silicon-based panels impedes market growth. While CIGS solar cells have improved in efficiency over the years, they still lag behind traditional silicon-based solar panels in terms of energy conversion efficiency. Although the gap has narrowed, the fact that silicon-based panels still achieve efficiencies of around 20-25%, compared to CIGS’ typical range of 18-20%, means that for large-scale energy generation, CIGS is not yet the optimal choice. This efficiency gap becomes particularly relevant in regions where space is at a premium, such as in urban areas or on rooftops where maximum energy output per square meter is crucial. Silicon-based panels are often favored in applications where space and land availability are limited, limiting the widespread adoption of CIGS modules in certain markets.
High manufacturing costs for initial production hinder the market. The production of CIGS cells involves complex processes, such as the deposition of thin films on flexible substrates and the use of advanced technologies for material composition. These processes require specialized equipment, which drives up the costs for manufacturers. As a result, CIGS solar panels are often more expensive to produce than traditional silicon solar panels, despite their lower material costs. The high initial production costs make it harder for CIGS to compete in price-sensitive markets, especially when silicon-based solar modules continue to benefit from economies of scale due to their longer-standing presence in the market.
The integration with building-integrated photovoltaics presents exciting opportunities. Unlike traditional solar panels, CIGS modules are lightweight and flexible, making them an ideal choice for integrating directly into building materials such as windows, facades, or roofs. CIGS modules are able to be seamlessly incorporated into the design of new buildings or retrofitted into existing ones with ease, while the demand for sustainable architecture and energy-efficient buildings increases in the background. The ability to generate solar power while blending into the structure itself offers significant advantages in urban environments where space for traditional solar installations is limited.
Flexible and lightweight solar solutions for mobile and wearable devices offer lucrative opportunities for market players. CIGS are made on flexible substrates, allowing solar panels to be applied to surfaces that are curved, lightweight, or even fabric-based. This makes CIGS modules an attractive option for solar-powered consumer electronics, such as smartphones, laptops, and even wearable devices, such as solar-powered watches and fitness trackers. The ability to harness solar energy through compact, portable devices is expected to be a key growth area for CIGS technology, as the demand for off-grid, mobile energy solutions grows, particularly in remote or emergency settings.
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Copper Indium Gallium Selenide (CIGS & CIS) Solar Cells Module Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2023 |
Historic Data |
2017 -2022 |
Forecast Period |
2024–2032 |
Segmentation |
Component (Front Contact, Absorber Layer, Back Contact, and Substrate), Material Type (Flexible and Rigid), Installation Type (Ground-mounted, Roof-mounted, and Floating Solar Systems), Module Type (Monofacial and Bifacial), Technology (CIGS, CIS), Application (Residential, Commercial, Industrial, Utility-scale, and Off-grid), and End-Use (Solar Power Plants, Residential Solar Systems, Building-Integrated Photovoltaics, Automotive & Transport, and Consumer Electronics) |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
AVANCIS GmbH; First Solar; HelioVolt Corporation; Hanergy Thin Film Power Group Europe; MiaSolé |
In terms of region, the global Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
Asia Pacific holds the largest share of the market due to its strong manufacturing capabilities, extensive investment in renewable energy, and government policies favoring solar adoption. Countries such as China, Japan, and South Korea have heavily invested in the development and scaling of solar technologies, including CIGS, as part of their national strategies to reduce dependence on fossil fuels and tackle climate change. China, in particular, is a global leader in solar panel production, and its vast manufacturing capacity, combined with favorable government incentives, makes the region the largest market for CIGS solar modules. Additionally, the region’s ability to rapidly scale production and supply solar solutions at competitive costs further solidifies its dominant position.
The Middle East & Africa market is projected to grow at a significant pace in the coming years, owing to the region’s vast solar potential and ambitious renewable energy targets. Countries such as the United Arab Emirates, Saudi Arabia, Egypt, and South Africa are prioritizing solar energy as part of their broader energy diversification plans. With abundant sunlight, these nations are investing in large-scale solar projects and are looking for cost-effective and adaptable solutions, making CIGS technology particularly attractive. The flexibility of CIGS solar panels, which are applied to various surfaces and are well-suited for arid climates, positions them as an ideal choice for both large-scale solar farms and urban installations. CIGS adoption is expected to accelerate rapidly as the region continues to focus on sustainability and reducing reliance on fossil fuels.
Based on component, the Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is divided into front contact, absorber layer, back contact, and substrate.
The absorber layer segment held a major share of the market due to its critical nature, being responsible for converting sunlight into electricity. It plays a key role in the efficiency and performance of the solar module, making it the most important and dominant component. The material composition and thickness of the absorber layer significantly affect the overall power output of the solar module.
The front contact segment is expected to expand at a significant growth rate in the coming years, owing to advancements in improving efficiency and reducing electrical losses in the component. Innovations in materials such as transparent conductive oxides (TCOs) and other conductive materials are improving front contact performance, making this segment the fastest growing as manufacturers work to enhance the overall efficiency of CIGS and CIS modules.
On the basis of material type, the Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is segregated into flexible and rigid.
The rigid segment held a large market share due to their widespread use in utility-scale solar power plants, commercial installations, and residential rooftops. Rigid modules are more commonly produced and are recognized for their higher durability and efficiency, making them the go-to solution for most large-scale applications.
The flexible segment is anticipated to grow at a substantial CAGR during the forecast period, owing to its versatility in applications, especially in BIPV, consumer electronics, and off-grid solutions. Their lightweight and flexible nature allows them to be integrated into a wide range of surfaces, including curved and unconventional structures, driving rapid growth in niche markets.
In terms of installation type, the global Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is segmented into ground-mounted, roof-mounted, and floating solar systems.
The ground-mounted segment led the market in terms of revenue, due to the vast amounts of land available for large-scale solar farms and utility-scale projects, especially in rural and desert areas. They offer flexibility for large arrays, improved space optimization, and easier maintenance, which is why they remain dominant in the market.
The floating solar systems segment is projected to register a robust growth rate during the assessment years, owing to them offering a solution to land scarcity, especially in densely populated or water-rich regions. Floating solar panels on reservoirs or lakes are increasingly being deployed to generate electricity without competing for valuable land space, making them a highly promising technology for water-rich areas, especially in countries such as China and India.
Based on module type, the global Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is divided into monofacial and bifacial.
The monofacial segment generated a major revenue share of the market owing to established performance and cost-effectiveness. These panels capture sunlight from one side and are widely used in both residential and commercial solar installations because they are easier to manufacture and more affordable.
The bifacial segment is likely to lead the market in terms of revenue during the projection period, due to its ability to capture sunlight from both the front and rear sides of the panel, significantly increasing efficiency and energy output. They are gaining traction in utility-scale solar farms and other installations where maximizing energy production is critical, as they are able to harness reflected sunlight from the ground or surrounding surfaces.
In terms of technology, the Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is divided into CIGS and CIS.
The CIGS segment held a major share of the market due to its higher efficiency and performance compared to CIS. CIGS modules have made significant strides in efficiency over the years, and many of the leading manufacturers focus on this technology due to its better potential for scalability and cost-effectiveness in the long term.
The CIS segment is expected to expand at a significant growth rate in the coming years, owing to it offering a more cost-effective alternative to CIGS while still providing good efficiency levels. The ability to produce CIS modules at a lower cost makes them appealing in emerging markets where affordability is a key driver, and the technology’s potential for improvement is fueling its growth.
In terms of application, the global Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is segmented into residential, commercial, industrial, utility-scale, and off-grid.
The utility-scale segment held a major share of the market due to the large-scale adoption of solar power in countries around the world. Solar farms, which span vast areas of land, are the primary drivers of solar energy capacity globally, especially in countries with large open spaces and favorable government incentives for renewable energy.
The residential segment is expected to expand at a significant growth rate in the coming years, owing to the increasing consumer demand for clean energy solutions, coupled with falling solar panel costs and rising energy prices. Government incentives and the desire for energy independence are making solar panels an attractive option for homeowners, leading to rapid adoption, particularly in regions with high sunlight exposure, including the U.S., India, and parts of Europe.
Based on end-use, the Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is divided into solar power plants, residential solar systems, building-integrated photovoltaics, automotive & transport, and consumer electronics.
The solar power plants segment generated a major revenue share of the market owing to the increasing use of CIGS and CIS technologies in utility-scale solar installation. These plants generate large amounts of electricity and are supported by government policies in many countries focused on scaling renewable energy infrastructure.
The building-integrated photovoltaics (BIPV) segment is likely to lead the market in terms of revenue during the projection period, due to the increasing trend of integrating solar panels directly onto the architecture of buildings. The demand for aesthetically pleasing, energy-efficient solutions for new construction and retrofitting existing buildings is growing, and the flexibility of CIGS technology makes it an ideal choice for these applications.
The Copper Indium Gallium Selenide (CIGS & CIS) Solar Cells Module Market has been segmented on the basis of
The competitive landscape of the global Copper Indium Gallium Selenide (CIGS & CIS) solar cells module market is highly competitive, with a mix of established players and emerging innovators driving growth. Key companies dominate the market, leveraging advanced manufacturing techniques, R&D capabilities, and economies of scale to maintain their market share. These companies focus on improving the efficiency and cost-effectiveness of CIGS and CIS modules to compete with traditional silicon-based solar cells. Current industry trends include a shift towards high-efficiency bifacial modules, the growing use of flexible and lightweight CIGS panels for BIPV and consumer electronics, and an increased emphasis on sustainable manufacturing processes. Additionally, companies are exploring hybrid solar technologies that combine CIGS with other materials, such as perovskites, to create tandem solar cells that promise to exceed current efficiency limits. With the continued push for renewable energy adoption and decarbonization goals, competition is intensifying as players race to offer innovative, scalable, and cost-competitive solar solutions.
In April 2025, scientists at the Korea Institute of Energy Research (KIER) claimed to have achieved the highest efficiency ever reported for a perovskite-CIGS tandem solar cell with flexible, lightweight architecture. KIER announced that it achieved a power conversion efficiency of 23.64% for a tandem solar cell based on a top perovskite device and a bottom cell based on CIGS technology. This result represents a world record for lightweight, flexible tandem perovskite-CIGS devices, the research group said, without specifying if it was confirmed by an independent third-party entity.
In April 2024, US cadmium telluride (CdTe) thin-film solar manufacturer First Solar agreed to pursue further thin-film technology development with Germany’s Center for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW). The agreement will see First Solar and ZSW focus on thin-film module performance and the development of perovskite/thin-film tandem solar technology at scale. ZSW has a history of researching CIGS thin-film technology.
In June 2023, Avancis set a world record for CIGS solar panels with an integrated series connection of 30 cm x 30 cm, achieving an efficiency of 20.3%. The German manufacturer’s accomplishment was validated by the US National Renewable Energy Laboratory. The previous record for a CIGS module of this size was 19.64%.