Pune, India, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The global organic solar cells market size was USD 55.63 million in 2019. The global impact of COVID-19 has been unprecedented and staggering, with clear aligners witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global organic solar cells market will exhibit a huge decline of -19.2% in 2020. The market is projected to grow from USD 44.9 million in 2020 to USD 101.29 million in 2027 at a CAGR of 12.30% in the 2020-2027 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Fortune Business Insights™ in its new report, titled “Organic Solar Cell Market Size, Share & Industry Analysis, By Material (Small molecules, Polymers), By Application (Consumer Electronics, BIPV & Architecture, Wearable Devices, Military & Defense, Automotive, Others) and Regional Forecast, 2019-2026”, has provided this valuable information about the market.
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Major Industry Developments:
In January 2020, Aarhus University in Denmark led a research venture that resulted in the birth of the microscopic organic PV technology. This technology can be used to develop light-based, neural-stimulating scaffolds inside the human body.
In November 2017, Heliatek installed the ‘world’s largest building-integrated organic photovoltaic’ (BIOPV) system on top of a school in La Rochelle, France.
Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast Period 2020 to 2027 CAGR | 12.30 % |
| 2027 Value Projection | USD 101.29 billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 55.63 billion |
| Historical Data for | 2016-2018 |
| No of Pages | 180 |
| Segments covered | By Application and Region |
| Growth Drivers | Favourable Government Initiatives and Policies to Fuel Growth |
Market Driver:
Surging Demand for BIPV to Drive Growth of the Market
Building-integrated photovoltaics (BIPV) products offer added functionalities to a building, unlike traditional construction materials. The use of this technology converts buildings from energy consumers into energy producers. To achieve this, the construction technology is required to be merged with BIPV technology. BIPVs protect buildings from climatic conditions and noise. Moreover, they offer thermal insulation. This technology decreases the total building material and mounting costs, as BIPVs do not require brackets and rails. Henceforth, their popularity has been growing constantly. Designers and architects use BIPV products with innovative methods, whereas manufacturers continue to develop new products to meet the rising demand.
Covid-19 Impact:
The coronavirus incident has caused colossal loss to several industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
To get to know more about the short-term and long-term impacts of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/organic-solar-cell-market-101555
Regional Insights:
Europe is anticipated to lead the global market for organic solar cells over the forecast period. Large investments in R&D for organic solar cells technology by countries, including Germany, France, and the U.K., would contribute to the region’s large market share. The BIPV technology in Europe is in a transition period and is being positively impacted by the regulatory framework. The Directive on Energy Performance in Buildings (EPBD) and the Renewable Energy Directive were set up by the European Union (EU), paving the way for near-zero energy buildings.
Asia Pacific is anticipated to exhibit significant growth during the forecast period due to the increasing investments by major companies, particularly in China and Japan. China and India are set to be a potential market owing to government regulations that support power generation by renewable resources. The demand for BIPV products in Asia Pacific is increasing continuously as these products are adding unique visual elegance and architectural beauty to buildings. North America held the second-largest share of the market owing to the presence of small scale manufacturers in the region. However, Latin America and the Middle East and Africa held the least share of the market.
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A list of prominent Organic Solar Cell manufacturers operating in the global market:
- Aclara
- GE
- Itron, Inc.
- Landis+Gyr
- Kamstrup
- Honeywell
- Siemens
- Sensus
- ABB
- ZPA Smart Energy
- Secure Meter Limited
- Holley Technology Ltd
- Jabil
- Xemex
- EDMI Limited
- EMH Metering GmbH & Co KG
- Schneider Electric
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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
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Solar Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Organic Solar Cell Market Analysis (USD Million), Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Building Integrated Photovoltaic (BIPV)
- Portable Electronics
- Defense Application
- Conventional Solar
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- North America Organic Solar Cell Market Analysis (USD Million), Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Building Integrated Photovoltaic (BIPV)
- Portable Electronics
- Defense Application
- Conventional Solar
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S. Market Analysis and Forecast – By Application
- Building Integrated Photovoltaic (BIPV)
- Portable Electronics
- Defense Application
- Conventional Solar
- Others
- Canada Market Analysis and Forecast – By Application
- Building Integrated Photovoltaic (BIPV)
- Portable Electronics
- Defense Application
- Conventional Solar
- Others
- U.S. Market Analysis and Forecast – By Application
Continued...
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