Global Perovskite Solar Cells Market Report – Future Prospects, Growth, Outlook and Forecast 2019 – 2026
Perovskite solar cell is one of the emerging types of photovoltaic cells which is flexible and light in weight. Perovskite solar cell is a solar cell that consists of a perovskite-structured compound, tin halide-based material, and hybrid organic-inorganic lead, as the light-harvesting active layer. The perovskite solar cells efficiency is high in devices using perovskite cells and has improved significantly over the past period due to the continuous developments in solar energy. Furthermore, these perovskite solar cells are used as a light absorber as they have the ability to reach a broad range of wavelengths of light which allows them to convert solar power into electricity and fabrication is done easily. The combination of perovskite solar cells with silicon is known as tandem cells.
The global Perovskite Solar Cells market is estimated to be USD 322 million in 2019 and is expected to reach USD 724 million by 2026, with a CAGR of 12.27% during the forecast period.
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Perovskite solar cells aim to improve cell efficiency and reduce solar energy costs. Perovskite solar cells have the ability to reach a broad range of wavelengths of light. This enables them to convert more solar energy into electric energy. This is one of the main advantages of perovskite solar cells over other traditional solar technologies. Moreover, these solar cells offer properties such as flexibility, semitransparency, and lightweight. These characteristics of perovskite solar cells are expected to open new opportunities for various applications of the solar cell.
Currently, the common electrode material used in perovskite solar cells is gold. Thus, perovskite solar cells are costlier than other commercially used solar cells. This is projected to hinder the perovskite solar cell market during the forecast period. The cheaper perovskite solar cells available in the market have a shorter lifespan. This may also hamper the perovskite solar cell market. Toxicity of a substance called Pbl is another major issue restraining the perovskite solar cell market. In addition, this toxic material used in perovskite solar cells pollutes the environment, which can further pose a challenge to the market’s growth.
On the basis of type, Perovskite Solar Cells Market segmented into
- Hybrid PSCs
- Multi-junction PSCs
On the application, Perovskite Solar Cells Market segmented into
- Smart glass
- Solar panel
- Perovskite in tandem solar cells
- Portable devices
- Building-integrated Photovoltaics
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The perovskite solar cell market is highly consolidated, with a few global manufacturers and developers operating across the globe. Important players profiled in the global Perovskite Solar Cells market include Alfa Aesar, BASF, BASF, Dyenamo, Fujifilm, Fujikura, Greatcell Solar, Hangzhou Microquanta, Infinitypv, Jinkosolar, Kyocera, LG Chem, Merck, Oxford PV, Panasonic, Saule Technologies, Sharp, Solartek, Toshiba, Trina Solar, Yingli Solar, and etc.
Asia-Pacific held the largest share of the market in 2018, accounting for close to 35.57% share. It was followed by North America and Europe, with a share of 30.01% and 28.24% respectively. In the Asia-Pacific region, China and Japan are the major countries contributing to the market of perovskite solar cells due to the adoption of advanced solar technology. Further, perovskite solar cells market in Asia-Pacific region is expected to receive huge support from rapid urbanization and rising demand for sustainable energy.
As for North America region, U.S. and Canada are major perovskite solar cells market owing to advancement in technology and favorable government initiatives to curb the pollution. Moreover, the presence of major key players of perovskite solar cells in the North America region is projected to foster the growth of perovskite solar cells market.
Europe region is anticipated to grow at a significant pace over the forecast period aided by Western Europe countries such as Germany, the U.K., and others. This growth of the Europe region is attributed to growing research and development activities related to solar cell and increasing sale of solar powered devices are believed to flourish the growth of perovskite solar cells market. However, the perovskite solar cell market in regions such as Latin America and Middle East & Africa is estimated to develop at a slow pace due to the high development costs of perovskite solar cells.
Overall Regions Outlook
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, Italy, Spain, U.K., Nordic Countries, Belgium, Russia, Rest of Europe
- Asia Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, Rest of Asia Pacific)
- Latin America, Middle East & Africa (Brazil, Nigeria, Argentina, South Africa, GCC Countries.
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Perovskite Solar Cells Market
2 Market Trends and Competitive Landscape
3 Segmentation of Perovskite Solar Cells Market by Types
4 Segmentation of Perovskite Solar Cells Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Perovskite Solar Cells Market in Major Countries
7 North America Perovskite Solar Cells Landscape Analysis
8 Europe Perovskite Solar Cells Landscape Analysis
9 Asia Pacific Perovskite Solar Cells Landscape Analysis
10 Latin America, Middle East & Africa Perovskite Solar Cells Landscape Analysis
11 Major Players Profile
11.1 Alfa Aesar
11.1.1 Alfa Aesar Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.6 Greatcell Solar
11.7 Hangzhou Microquanta
11.11 LG Chem
11.13 Oxford PV
11.15 Saule Technologies
11.19 Trina Solar
11.20 Yingli Solar
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In-depth Perovskite Solar Cells Market Report: Intended Audience
- Perovskite Solar Cells manufacturers
- Downstream vendors and end-users
- Traders, distributors, and resellers of Perovskite Solar Cells
- Perovskite Solar Cells industry associations and research organizations
- Product managers, Perovskite Solar Cells industry administrator, C-level executives of the industries
- Market Research and consulting firms
- Small and Medium-sized Enterprises (SMEs)
Years considered for the study
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2019 to 2026
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