covina, April 06, 2023 (GLOBE NEWSWIRE) -- Perovskite Solar Cells Market is estimated to be US$ 5.00 billion by 2030 with a CAGR of 32.7% during the forecast period
Perovskite-structured material is included in perovskite solar cell (PSC) as an active layer based on the solution processed by tin or halide. Perovskite solar cells are thin-film devices built with layers of materials, either printed or coated from liquid inks or vacuum-deposited. Halide Perovskite is used in solar cell because Halide perovskites are a family of materials that have shown potential for high performance and low production costs in solar cell.
Increase in the number of installations of solar systems further influences the market. Increasing demand for perovskite solar cells drives the market growth due to the increasing need to reduce the cost of solar cell modules. Additionally, rapid urbanization, lifestyle changes, growth in investment and increased consumer spending are positively impacting the perovskite solar cell market.
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The report "Perovskite Solar Cells Market, By Type (Hybrid PSCs, FlexiblePSCs, and Multi-junction PSCs), By Application (Smart glass, Solar panel, Perovskite in tandem solar cells, Portable devices, Utilities, and BIPV (Building-integrated photovoltaics)), By End-User (Manufacturing, Energy, Industrial automation, Aerospace, and Consumer electronics), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
- In June 2022, SC SOLAR launched cluster-type evaporation equipment for perovskite solar cell, which includes a perovskite-structured compound, Perovskite materials, methyl ammonium lead halides and all-inorganic cesium lead halide is the perovskite materials, this materials is included in perovskite solar cell, are cheap to produce and simple to manufacture.
- In April 2022, Warsaw-based perovskite solar cell firm Sol Technologies and two Polish partners signed a strategic agreement to cooperate on the commercialization and further development of perovskite cells, with plans to develop and launch new products using these cells this year.
Top Key players
- Alta Devices
- Xeger Sweden AB
- FlexLink Systems, Inc.
- 24 Power Ltd
- Polyera Corporation
- SolarPrint Ltd
- Dyesol Inc
- Solaronix SA
- New Energy Technologies Inc
- Ubiquitous Energy Inc.
Analyst View:
Perovskite solar cells are preferred over other solar cells due to their cost effectiveness and high power conversion efficiency, however their commercialization is still limited due to their instability and lead toxicity. Perovskite Solar Cell Market is expected to increase due to rising demand for clean energy around the world. However, many countries are now shifting towards the source of clean energy. The maximum use of solar panels is seen in the European region, especially countries such as Spain and Italy, due to presence of sunlight the whole year. Over last decade countries like China, Japan, Germany and USA has installed number of solar powerhouses due to increased demand of electricity which also support the growth of perovskite solar cells market.
Key Market Insights from the report:
Perovskite Solar Cell Market accounted for US$ 0.4 billion in 2020 and is estimated to be US$ 5.00 billion by 2030 and is anticipated to register a CAGR of 32.7%. The perovskite solar cell is segmented based on Type, Application, End-User and region.
- Based on Type, Perovskite Solar Cell market is segmented into Hybrid PSCs, Flexible PSCs, and Multi- junction PSCs.
- Based on Application, Perovskite Solar Cell Market is segmented into Smart glass, Solar panel, Perovskite in tandem solar cell, Portable Devices, Utilities and BIPV (Building – integrated photovoltaic).
- Based on End-User, Perovskite Solar Cell Market is segmented in to Manufacturing, Energy, Industrial Automation, Aerospace and Consumer Electronics.
- Based on By Region, Perovskite Solar Cell market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
