Perovskite Solar Cell Market to Witness an Outstanding Growth During 2021- 2026

(The Express Wire via Comtex)

The global perovskite solar cell market size is poised for steady expansion as renewable energy production exhibits an encouraging growth trajectory. According the annual Renewable Capacity Statistics 2019 released by the International Renewable Energy Agency (IRENA), in 2018, 171 gigawatts of renewable energy capacity was added worldwide. More significantly, 84% of this addition was contributed by solar and wind energy. Projections made by the International Energy Agency (IEA) are even more tantalizing. The IEA estimates that renewable energy production will rise by 50% between 2019 and 2024, with solar accounting for 60% of this rise. Moreover, rooftop solar PVs in residential structures would double from the current levels to reach 100 million by 2024, with Australia, Belgium, California, the Netherlands, and Austria leading the charge. Furthermore, the IEA expects solar cells costs to drop between 15% and 35% by 2024, thereby spurring their uptake in urban areas

Through its report, titled “Perovskite Solar CellMarket Size, Share and Industry Analysis, By Installation (Roof-Mount, Ground Mount, Portable, Other), By Application (Residential, Commercial, Industrial, Automotive, Defense, Others) and Regional Forecast, 2019-2026”, Fortune Business Insights™ has shared vital market information in the form of:

  • 360-degree analysis of the factors driving the size and share of the market;
  • Exhaustive study of the market segments;
  • In-depth research of the restraints impeding the growth of the market; and
  • Comprehensive evaluation of the regional and competitive developments in the market.

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Key Questions Answered:

• What are the key technological and trends shaping the market?
• What are the key opportunities in the market?
• What are the key companies operating in the market?
• Which company accounted for the highest market share?
• Why Choose Fortune Business Insights?
• What is the market size and growth rate of the global and regional market by various segments?
• What is the market size and growth rate of the market for selective countries?
• Which region or sub-segment is expected to drive the market in the forecast period?
• What Factors are estimated to drive and restrain the Market growth?

Growing Urban Population to Prove Lucrative for the Market

One of the leading perovskite solar cell market trends is the proliferation of urban areas around the world and the parallel rise in urban population. According to the UN Department of Economic and Social Affairs (UN DESA), currently, around 55% of the global population lives in urban areas. By 2050, this number is projected to spike to 68%, with 90% of this rise taking place in Asia and Africa. The perovskite solar cell market stands to gain from this development as these solar cells boast of a host of advantages, making them ideal for installation in residential spaces. For instance, since perovskite cells can absorb lights of different wavelengths, it can convert larger amounts of sunlight into electricity. Moreover, they are flexible and lightweight, making them an attractive energy-efficient option in urban spaces.

Industry Developments:

  • August 2019:Oxford PV, the UK-based perovskite specialist company, purchased the first solar cell manufacturing equipment from Meyer Burger, the Swiss engineering company. Through this purchase, Oxford PV intends to develop a perovskite special production line with 250 MW capacity by the end of 2020.
  • February 2019:A commercial production line of inkjet-printed perovskite solar cells was officially launched by Saule Technologies on a pilot basis. The company aims to build 180,000 square meters of solar panels as 2020 ends.

Market Segmentation:

  • By Installation
  • By Application
  • By Geography

Top Players Profiled in the Perovskite Solar Cell Market Report:

  • Energy Materials Corp
  • Microquanta Semiconductor
  • Saule Technologies
  • Panasonic
  • Solaronix SA
  • Swift Solar
  • WonderSolar
  • Frontier Energy Solution
  • Oxford PV
  • Toshiba
  • Sekisui
  • Solliance
  • Tandem PV

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Government-funded RandD Activities to Aid Regional Development of the Market

Asia-Pacific is anticipated to dictate the perovskite solar cell market share owing to the increasing investment into renewable energy sources by India and China. In North America, the US is leading the market with increased funding for research and development of alternate sources of energy. Market players in North America are looking for ways to simplify the manufacturing process of these solar cells and bringing down their costs even more. The solar industry in Europe is flourishing as countries such as Germany and France are aggressively cutting down their carbon emissions through clean energy initiatives. Lastly, Africa is presenting promising prospects as the continent receives concentrated sunlight for majority part of a year.

Excellent Innovation Opportunities Await Market Players

Serious contenders in this market are adopting various strategies to solidify their position. Some of the most favored strategies include focused attention on enhancing RandD capacity, launch of innovative products, and expansion of geographic presence.

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Regional Analysis:

  • North America (The USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East and Africa (South Africa, GCC and Rest of the Middle East and Africa)

Major Table of Content for Perovskite Solar Cell Market:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Market Analysis, Insights and Forecast, 2026
  6. North America Perovskite Solar Cell Market Analysis, Insights and Forecast, 2026
  7. Europe Market Analysis, Insights and Forecast, 2026
  8. Asia Pacific Market Analysis, Insights and Forecast, 2026
  9. Middle East and Africa Market Analysis, Insights and Forecast, 2026
  10. Latin America Market Analysis, Insights and Forecast, 2026
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

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