Perovskite Solar Cell Market Analysis - 2030
The global Perovskite solar cell market size was valued at $0.4 billion in 2020, and is forecasted to reach $6.6 billion by 2030, growing at a CAGR of 32.4% from 2021 to 2030. Perovskite solar cell (PSC) includes the perovskite-structured material as an active layer based on the solution processed by tin or halide. Perovskite materials offer excellent light absorption, charge-carrier mobilities, and lifetimes, resulting in high device efficiencies with opportunities to realize a low-cost, industry-scalable technology. Perovskite solar cells (PSCs) are the most emerging area of research among different new generation photovoltaic technologies, due to their super power conversion efficiency (PCE).
Growing demand for solar cells due to their flexibility and light weight, rising number of applications in various industries, increasing environmental concerns about carbon emission reduction, and the prevalence of alternative energy sources are some of the factors that are expected to boost the growth of the perovskite solar cell market during the forecast period. Furthermore, increasing R&D efforts as well as technical developments, can enhance different prospects, resulting in the expansion of the market throughout the forecast period. However, presence of toxic material as well as high cost of product may hamper the growth of market during the forecast period. These are some of the perovskite solar cell market trends observed globally.
The Perovskite solar cell market is segmented on the basis of structure, product, method, end-use, and region. On the basis of structure, the global market is segmented into planar perovskite solar cells and mesoporous perovskite solar cells. The Product of Perovskite solar cell include rigid perovskite solar cells and flexible perovskite solar cells. On the basis of method, it is segmented into solution method, vapor-deposition method and vapor-assisted solution method. The end use of Perovskite solar cell includes aerospace, industrial automation, consumer electronics, energy and others. On the basis of region, the global market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Europe accounts for the largest share of the market, followed by North America.
Major players operating in the global Perovskite solar cell industry include Oxford Photovoltaics, FrontMaterials Co. Ltd., Solaronix SA, Xiamen Weihua Solar Co. Ltd., Fraunhofer ISE, Dyesol, Saule Technologies, FlexLink Systems Inc., Polyera Corporation, and New Energy Technologies Inc.
Perovskite solar cell Market, by Structure
The planar perovskite solar cells segment accounted for the largest share in 2020, while the mesoporous perovskite solar cells segment is projected to grow at the highest CAGR of 32.8%.
Planar Perovskite Solar Cells is projected as the most lucrative segment.
Perovskite solar cell Market, by Method
The vapor-deposition method segment accounted for the largest share in 2020, while the vapor-assisted solution method segment is projected to grow at the highest CAGR of 32.9%.
Vapor-Deposition Method in Perovskite Solar Cell is projected as the most lucrative segment.
Perovskite solar cell Market, by Product
The flexible perovskite solar cells segment accounted for the largest share in 2020, while the rigid perovskite solar cells segment is projected to grow at the highest CAGR of 32.7%.
Flexible Perovskite Solar Cell is projected as the most lucrative segment.
Perovskite solar cell Market, by End Use
The energy segment accounted for the largest share of the Perovskite solar cell market in 2020.
Energy End-use is projected as the most lucrative segment.
Perovskite solar cell Market, by Region
The market is expected to grow during forecast period, owing to a growth in electronic advances in countries such as Japan, China, India, and South Korea. As a result, throughout the projected period, Asia Pacific is expected to lead the market.
Europe is projected as the most lucrative market.
Key Benefits For Stakeholders
- The report provides in-depth analysis of the global Perovskite solar cell market along with the current trends and future estimations.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
- Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global market for strategy building.
- A comprehensive market analysis covers the factors that drive and restrain the global Perovskite solar cell market growth.
- The qualitative data about market dynamics, trends, and developments is provided in the report.
Impact Of Covid-19 On The Global Perovskite Solar Cell Market
- COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
- Perovskite solar cell is primarily used in supplements, cosmetics, industrial, and personal care.
- In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
- The demand–supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the industry during the COVID-19 pandemic.
- Due to a scarcity of resources in various parts of the world, the COVID-19 epidemic has impacted negatively on the manufacturing and industrial industries. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
Perovskite Solar Cell Market Report Highlights
Key Market Players
Dyesol, Solaronix SA, New Energy Technologies Inc, Xiamen Weihua Solar Co. Ltd., FlexLink Systems Inc., Saule Technologies, Fraunhofer ISE, Oxford Photovoltaics, FrontMaterials Co. Ltd., Polyera Corporation
The perovskite solar cell industry will see enormous development potential as environmental concerns rise as a result of growing carbon emissions. During the assessment period, the ubiquity of alternative energy sources and the growing number of applications in many sectors will provide enormous potential possibilities for the perovskite solar cell market.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.