Dublin, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The "Global Perovskite Solar Cells Market, By Product Type, By Module Type, By Structure, By Application, Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global Perovskite Solar Cells market held a market value of USD 352.2 Million in 2020 and is estimated to reach USD 2,012.7 Million by the year 2027. The market is anticipated to register a CAGR of 28.7% during the forecast period.
Perovskite solar cells consists of a perovskite-structured compound, mostly a hybrid inorganic-organic lead or tin-halide-based material. Perovskite is a material having same crystal structure as mineral calcium titanium oxide. The market is anticipated to be driven by the high efficiency of perovskite solar cells. Furthermore, growing focus on solar energy is also estimated to boost the market growth. The market is expected to be restrained by the presence of toxic materials, such as lead coupled with lack of standard solutions.
Growth Influencers:
High efficiency of perovskite solar cells
High efficiency of perovskite solar cells in combination with low cost of processes and materials raise the preferability of these cells over the commercial silicon or other inorganic and organic solar cells. These cells also enable further advancement of the power conversion efficiency beyond those afforded by the silicon solar cells. Power conversion efficiency of metal halide perovskite-based solar cells has reached 25% in 2020 from 3% in 2006. Therefore, such increasing efficiency of perovskite solar cells is expected to boost the market growth.
Segments Overview:
The global perovskite solar cells market is segmented into product type, module type, structure, and application.
By Product Type
- Hybrid PSCs
- Flexible PSCs
- Multi-Junction PSCs
The hybrid PSCs segment is expected to hold the largest market share of around 50%, as they are mostly commonly used. The flexible PSCs segment is anticipated to grow at the fastest CAGR of around 29.8% owing to their increasing demand in the stream of wearable power supply and integration with architectures owing to their various advantages, such as portability, light weight, flexibility, and compatibility with irregular electronic items.
By Module Type
- Rigid Module
- Flexible Module
The rigid module segment is estimated to account for the dominant share of the market owing to their rising demand for various applications. The flexible module segment is also expected to grow significantly owing to various technological advancements.
By Structure
- Planar Perovskite Solar Cells
- Mesophorous Perovskite Solar Cells
The mesophorous perovksite solar cells segment is expected to surpass a market value of USD 350 million by 2025 as it is the most popularly used structures in fabrication of product, with over 20% power conversion efficiency. Planar perovskite solar cells segment is anticipated to fuel the market growth owing to its growing demand.
By Application
- Smart Glass
- BIPV(BuildingIntegrated PVs)
- Power Station
- Defense & Aerospace
- Transportation & Mobility
- Consumer Electronics (Portable Devices)
- Utilities
- Off-Grid Application
- Others
The BIPV (Building Integrated PVs) segment is estimated to hold the largest market share owing to growing demand of perovskite solar cells in building envelope and part of building components, such as windows, roofs, or facades, among others. The consumer electronics (portable devices) segment is expected to surpass a market size of about USD 400 million by 2027.
Regional Overview:
By region, the global Perovskite Solar Cells market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region is expected to hold the largest market share of more than 55% owing to rapid urbanization and a well-developed consumer electronics industry in the region. The region is further divided into China, India, Japan, South Korea, Australia & New Zealand, ASEAN, and rest of Asia Pacific. The ASEAN region is segmented into Malaysia, Indonesia, Thailand, Philippines, Vietnam, and Rest of ASEAN. The North America region is anticipated to grow owing to various technological advancements. North America region is divided into the U.S., Canada, and Mexico.
The South America region is estimated to witness a growth rate of around 28.4% owing to increasing solar energy practices in the region. The region is divided into Brazil, Argentina, and rest of South America. Europe region is anticipated to grow owing to the increasing adoption of solar cells. The region is divided into Eastern and Western Europe. Eastern Europe is further divided into Russia, Poland, and rest of Eastern Europe. Western Europe is further segmented into the UK, Germany, France, Italy, Spain, and Rest of Western Europe. The Middle East & Africa region is divided into UAE, Saudi Arabia, Qatar, South Africa, Egypt, and Rest of MEA.
Product Price Overview-Cost Breakdown
In terms of the levelized cost of electricity (LCOE), the efficiency gain of a tandem device as compared to a silicon single junction is capable of offsetting the additional cost for the top cell. According to IEEE Journal of Photovoltaics published in November 2020, the cost of manufacturing for perovskite single junction modules are around USD 31.7-32.7 sq metre. Also, the same source stated that the cost of manufacturing for USD 113.8 sq metre for perovskite-silicon tandem. Also, for both the residential and utility application, the cost advantage compared to silicon is in the range of 10-20% depending on lower or higher end of the predicted range of the perovskite manufacturing.
Competitive Landscape:
Key players operating in the global Perovskite Solar Cells market include Alfa Aesar, BASF, Dyenamo, Energy Materials Corp., Frontier Energy Solution, Fujifilm, Fujikura, GCL Suzhou Nanotechnology Co., Ltd, Greatcell Energy, Hangzhou Microquanta, Heiking PV Technology Co., Ltd, Hubei Wonder Solar, Hunt Perovskite Technologies (HPT), InfinityPV, Jinkosolar, Kyocera, LG Chem, Li Yuan New Energy Technology Co., Merck, Microquanta Semiconductor, Oxford PV, Panasonic, Saule Technologies, Sharp, Solartek, Solaronix, Solliance, Tandem PV, Toshiba, Trina Solar, WonderSolar, and Other Prominent Players.
These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in October 2021, Dyenamo launched the hole conductor X55 that improves efficiency and stability in perovskite solar cells.
The global Perovskite Solar Cells market report answers questions such as:
- What is the market size and forecast of the Global Perovskite Solar Cells Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Perovskite Solar Cells Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Perovskite Solar Cells Market?
- What is the competitive strategic window for opportunities in the Global Perovskite Solar Cells Market?
- What are the technology trends and regulatory frameworks in the Global Perovskite Solar Cells Market?
- What is the market share of the leading players in the Global Perovskite Solar Cells Market?
- What modes and strategic moves are considered favorable for entering the Global Perovskite Solar Cells Market?
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Perovskite Solar Cells Market
Chapter 4. Global Perovskite Solar Cells Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Raw Material Supplier
4.1.2. Manufacturing
4.1.3. Distribution
4.1.4. End users
4.2. Industry Outlook
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.5. Market Dynamics and Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.8. Regulatory Framework
4.9. Competition Dashboard
4.9.1. Market Concentration Rate
4.9.2. Company Market Share Analysis (Value %), 2020
4.9.3. Competitor Mapping
4.10. Technology Lifecycle - PV Technology
4.11. Patent Analysis
4.12. Recycling Business
Chapter 5. Perovskite Solar Cells Market Analysis, By Product Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
5.2.1. Hybrid PSCs
5.2.2. Flexible PSCs
5.2.3. Multi-junction PSCs
Chapter 6. Perovskite Solar Cells Market Analysis, By Module Type
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
6.2.1. Rigid Module
6.2.2. Flexible Module
Chapter 7. Perovskite Solar Cells Market Analysis, By Structure
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
7.2.1. Planar Perovskite Solar Cells
7.2.2. Mesoporous Perovskite Solar Cells
Chapter 8. Perovskite Solar Cells Market Analysis, By Application
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2027 (US$ Mn)
8.2.1. Smart Glass
8.2.2. BIPV (Building Integrated PVs)
8.2.3. Power Station
8.2.4. Defense & Aerospace
8.2.5. Transportation & Mobility
8.2.6. Consumer Electronics (Portable Devices)
8.2.7. Utilities
8.2.8. Off-Grid Application
8.2.9. Others
Chapter 9. Perovskite Solar Cells Market Analysis, By Region
Chapter 10. North America Perovskite Solar Cells Market Analysis
Chapter 11. Europe Perovskite Solar Cells Market Analysis
Chapter 12. Asia Pacific Perovskite Solar Cells Market Analysis
Chapter 13. Middle East & Africa Perovskite Solar Cells Market Analysis
Chapter 14. South America Perovskite Solar Cells Market Analysis
Chapter 15. The U.S. Perovskite Solar Cells Market Analysis
Chapter 16. Canada Perovskite Solar Cells Market Analysis
Chapter 17. Mexico Perovskite Solar Cells Market Analysis
Chapter 18. Russia Perovskite Solar Cells Market Analysis
Chapter 19. Poland Perovskite Solar Cells Market Analysis
Chapter 20. The UK Perovskite Solar Cells Market Analysis
Chapter 21. Germany Perovskite Solar Cells Market Analysis
Chapter 22. France Perovskite Solar Cells Market Analysis
Chapter 23. Italy Perovskite Solar Cells Market Analysis
Chapter 24. Spain Perovskite Solar Cells Market Analysis
Chapter 25. China Perovskite Solar Cells Market Analysis
Chapter 26. India Perovskite Solar Cells Market Analysis
Chapter 27. Japan Perovskite Solar Cells Market Analysis
Chapter 28. Australia & New Zealand Perovskite Solar Cells Market Analysis
Chapter 29. South Korea Perovskite Solar Cells Market Analysis
Chapter 30. Malaysia Perovskite Solar Cells Market Analysis
Chapter 31. Indonesia Perovskite Solar Cells Market Analysis
Chapter 32. Thailand Perovskite Solar Cells Market Analysis
Chapter 33. Philippines Perovskite Solar Cells Market Analysis
Chapter 34. Vietnam Perovskite Solar Cells Market Analysis
Chapter 35. UAE Perovskite Solar Cells Market Analysis
Chapter 36. Saudi Arabia Perovskite Solar Cells Market Analysis
Chapter 37. Qatar Perovskite Solar Cells Market Analysis
Chapter 38. South Africa Perovskite Solar Cells Market Analysis
Chapter 39. Egypt Perovskite Solar Cells Market Analysis
Chapter 40. Brazil Perovskite Solar Cells Market Analysis
Chapter 41. Argentina Perovskite Solar Cells Market Analysis
Chapter 42. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
42.1. Alfa Aesar**
42.1.1. Business Overview
42.1.2. Product Portfolio
42.1.3. Strategic Outlook
42.1.4. Financial Analysis
42.1.5. Business Revenue Segmentation
42.1.6. Geographical Revenue Segmentation
42.1.7. Commercial Opportunities
42.1.8. Key Competitors
42.1.9. Other Key Information
**Similar analysis provided for all the major companies (subject to availability)
42.2. BASF
42.3. Dyenamo
42.4. Energy Materials Corp.
42.5. Frontier Energy Solution
42.6. Fujifilm
42.7. Fujikura
42.8. GCL Suzhou Nanotechnology Co., Ltd.
42.9. Greatcell Energy
42.10. Hangzhou Microquanta
42.11. Heiking PV Technology Co., Ltd.
42.12. Hubei Wonder Solar
42.13. Hunt Perovskite Technologies (HPT)
42.14. InfinityPV
42.15. Jinkosolar
42.16. Kyocera
42.17. LG Chem
42.18. Li Yuan New Energy Technology Co.
42.19. Merck
42.20. Microquanta Semiconductor
42.21. Oxford PV
42.22. Panasonic
42.23. Saule Technologies
42.24. Sharp
42.25. Solartek
42.26. Solaronix SA
42.27. Solliance
42.28. Tandem PV
42.29. Toshiba
42.30. Trina Solar
42.31. WonderSolar
42.32. Other Prominent Players
For more information about this report visit https://www.researchandmarkets.com/r/1flf9
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