Pune, India, May 23, 2023 (GLOBE NEWSWIRE) -- The global organic solar cell market is set to gain impetus from the rapid infrastructure development and increasing population growth. It would propel the demand for electricity worldwide. This information is given by Fortune Business Insights™ in a new report, titled, “Organic Solar Cell Market Size, Share and COVID-19 Impact Analysis By Application (Building Integrated Photovoltaic {BIPV}, Portable Electronics, Defense Application, Conventional Solar, and Others), and Regional Forecast, 2020-2027.”
The report further states that the organic solar cell market size was USD 55.63 million in 2019. It is projected to grow from USD 44.9 million in 2020 to USD 101.29 million in 2027 at a CAGR of 12.30% between 2020-2027.
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Organic Solar Cell Market Scope:
| 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 55.63 million |
| Historical Data for | 2016-2018 |
| No. of Pages | 180 |
| Segments covered | By Application and Region |
| Growth Drivers | Surging Demand for BIPV to Drive Growth of the Market |
| Favorable Government Initiatives and Policies to Fuel Growth |
Organic Solar Cells Market Report Key Insights:
Organic Solar Cells market research report provides you comprehensive and insightful information about an Organic Solar Cells industry. This report is a valuable tool for businesses, investors, and decision-makers to understand market dynamics, assess opportunities, and make informed strategic decisions.
This reports provides you overview of the report's key findings, conclusions, and recommendations, presented in a concise and clear manner. Background information about the market analysis, including its size, growth rate, major players, and key trends. Report also provides analysis of the market's current state, including its historical performance, current market size, and projected growth prospects.
Market Segmentation: Identification and analysis of different market segments based on factors such as demographics, product/service types.
Competitive Analysis: Assessment of the competitive landscape, including an analysis of key competitors, their market share, strengths, weaknesses, and strategies.
Market Trends: Identification and analysis of significant market trends, emerging technologies, regulatory changes, and other factors that could impact the market's future.
SWOT Analysis: Evaluation of the market's strengths, weaknesses, opportunities, and threats, highlighting key areas of advantage or vulnerability.
Market Forecasts: Future projections and estimations regarding the market's growth potential, including revenue forecasts, market size, and growth rate.
Recommendations: Actionable insights and recommendations for businesses based on the research findings, aimed at maximizing opportunities and mitigating risks.
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
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.
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.
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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.
List of Key Players Covered in the 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)
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Solar Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Organic Solar Cell Market Analysis (USD Million), Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Application
6.2.1.Building Integrated Photovoltaic (BIPV)
6.2.2.Portable Electronics
6.2.3.Defense Application
6.2.4.Conventional Solar
6.2.5.Others
6.3. Market Analysis, Insights and Forecast – By Region
6.3.1. North America
6.3.2. Europe
6.3.3. Asia Pacific
6.3.4. Middle East & Africa
6.3.5. Latin America
Continued…
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