Pune, India, May 19, 2022 (GLOBE NEWSWIRE) -- The global organic solar cell market size stood at USD 55.63 million in 2019. The market is estimated to rise from USD 44.9 million in 2020 to USD 101.29 million by 2027 at 12.30% CAGR during the forecast period. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Organic Solar Cell Market, 2021-2028.”
According to the analysis, the rapid infrastructure development and increasing population growth. It would propel the demand for electricity worldwide. Surging Demand for BIPV to Drive Growth of the Market.
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List of Key Companies Profiled in the Market Report:
- Heliatek (Germany)
- ARMOR (France)
- infinityPV ApS (Denmark)
- Solarmer Energy, Inc. (U.S.)
- NanoFlex Power Corporation (U.S.)
- Optodot (U.S.)
- Eni (Italy)
- New Energy Technologies Inc. (U.S.)
- Novaled GmbH (Germany)
- Brite Solar (Greece)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast Period 2020 to 2027 CAGR | 12.30% |
| 2027 Value Projection | USD 101.29 million |
| Base Year | 2019 |
| Market Size in 2019 | USD 55.6 million |
| Historical Data for | 2016-2018 |
| No. of Pages | 180 |
| Segments covered | Application, Region |
| Growth Drivers | Surging Demand for BIPV to Drive Growth of the Market |
| Favourable Government Initiatives and Policies to Fuel Growth |
COVID-19 Impact:
Delay in Solar Projects to Hamper Growth amid COVID-19 Pandemic Globally
The COVID-19 pandemic has taken a huge toll on the global economy. Owing to the prolonged social distancing and lockdown measure, various industries are facing labor shortages, disturbances in supply chains, delay in projects, and halt of manufacturing activities. In India, for instance, numerous solar projects are currently being postponed or delayed as most of the components are imported from China. The pandemic has also caused order backlogs.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/organic-solar-cell-market-101555
Report Coverage:
The report has been prepared meticulously through quantitative and qualitative assessments to offer a comprehensive market view. Notably, many primary interviews have been conducted with major stakeholders and suppliers. Primary data has been collected through questionnaires, telephonic conversations and emails. Moreover, the report also includes secondary sources, such as government websites, SEC filings and press releases. The report also gives an in-depth view of market size, share, revenue, volume and delves into SWOT analysis.
Drivers & Restraints:
Urgent Need to Protect Buildings from Harsh Climatic Conditions will Spur Growth
The emergence of building-integrated photovoltaics (BIPV) products is set to accelerate the organic solar cell market growth in the upcoming years. These products provide several enhanced functionalities to a building, unlike conventional construction materials. It can effectively convert buildings into energy producers from energy consumers. But, to achieve this, the BIPV technology has to be blended with the modern construction technology. Besides, it is capable of protecting buildings from noises and harsh climatic conditions. However, the lack of awareness about new technologies in the field of organic solar cells may obstruct growth in the forthcoming years.
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Segmentation:
BIPV Segment to Lead Backed by Presence of Favorable Government Policies
Based on application, the building-integrated photovoltaic (BIPV) segment earned 37.7% in terms of the organic solar cell market share in 2019. It was in the leading position because of the implementation of favorable policies by government bodies to encourage the deployment of enhanced renewable energy-powered cells. At the same time, this technology delivers an aesthetic appeal to the building.
Regional Insights:
Europe to Remain at the Forefront Owing to Increasing Investments to Develop New Technologies
Geographically, Europe generated 17.49 million in terms of revenue in 2019. It is anticipated to dominate throughout the forecast period stoked by the rising investments in the development of organic solar cell technology. It is mainly set to occur in the U.K., France, and Germany.
On the other hand, Asia Pacific is likely to show significant growth fueled by the rising investments in Japan and China. In India and China, government agencies are supporting the usage of renewable resources for generating power.
Competitive Landscape:
Key Players Focus on Partnerships & R&D Activities to Create Novel Products
The global market is consolidated because of the presence of a limited number of manufacturers. They are mainly focusing on collaborations and partnerships to participate in new projects. Some of the academic institutes are conducting extensive research to develop innovative organic solar cells. Below are the two latest industry developments:
January 2020: Researchers of Aarhus University, Denmark developed a microscopic organic PV technology. It can be utilized to create neural stimulating scaffolds in the human body that will control lights. It can also help to provide a non-invasive therapeutic treatment method.
October 2018: Heliatek installed around 185 m² of organic photovoltaic films in the warehouse of Duisburger Hafen AG. It is considered to be the largest facade installation of organic solar cells to date.
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Value Chain Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Organic Solar Cell Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by the Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Organic Solar Cell Market Analysis (MW, USD Billion), Insights and Forecast, 2018-2029
Continued.
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