Perovskite Solar Cell Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032

Report code : IS1470, Status : Published, Published on: May, 2023, Pages : 151 Pages, Format : PDF/PPT/Excel

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Description

The global perovskite solar cell market was estimated to be US$ 1.55 Billion in 2022 and is expected to reach US$ 23.91 Billion by 2032 at a CAGR of 31.5%.

Perovskite Solar Cell (PSC) is a type of solar cell that uses perovskite-structured materials as the active layer. The perovskite materials are a class of crystalline materials with a specific chemical structure that is named after a mineral called perovskite. Perovskite solar cells have gained attention in recent years due to their high-power conversion efficiency (PCE), low manufacturing costs, and the potential to be easily fabricated using low-temperature solution processing methods.

Perovskite Solar Cell Market Drivers

Increasing demand for renewable energy sources is booming the market growth

The Global Perovskite Solar Cell Market is being driven by various factors, including the increasing demand for renewable energy sources, growing need for cost-effective and efficient solar cells, and the potential for higher efficiency than traditional solar cells. With concerns over climate change and greenhouse gas emissions, there is a growing demand for renewable energy sources such as solar, wind, and hydropower. Perovskite solar cells offer a promising alternative to traditional silicon-based solar cells due to their higher efficiency and lower cost.

Additionally, the need for cost-effective and efficient energy sources is driving the demand for solar energy, and perovskite solar cells have the potential to be more cost-effective than traditional silicon-based solar cells due to their simpler manufacturing process and lower material costs. Moreover, perovskite solar cells have the potential to be more efficient than traditional silicon-based solar cells as they can capture a broader range of light frequencies and can be designed to maximize their efficiency for specific applications. These factors are creating new opportunities for companies to develop innovative and cost-effective solar technologies.

Overall, the growth of the Global Perovskite Solar Cell Market is expected to continue in the coming years, driven by these factors and others such as government initiatives promoting the use of solar energy and increasing investments in the solar energy sector.

Application Segmentation of Global Perovskite Solar Cell Market

Solar panel segment is currently the largest in the market

Based on application, the solar panel segment is currently the largest in the Global Perovskite Solar Cell Market. This is because solar panels are the most common application for solar cells, and perovskite solar cells have shown great potential for high efficiency and low-cost manufacturing, making them an attractive alternative to traditional silicon-based solar cells.

Perovskite solar panels have the potential to be more cost-effective due to their simpler manufacturing process and lower material costs. Additionally, perovskite solar panels can be designed to be more efficient in capturing a broader range of light frequencies, making them a promising technology for solar energy.

Although the other segments, such as smart glass and building-integrated photovoltaics (BIPV), have potential for growth in the future due to their unique features, such as transparency and flexibility, the solar panel segment is currently the largest in the market. However, as the demand for renewable energy continues to grow and the technology for perovskite solar cells continues to improve, it is possible that other segments may surpass the solar panel segment in the future.

Regional Trends of the Global Perovskite Solar Cell Market

Geographically, the global perovskite solar cell market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.

Following are some of the major trends in these regions –

North America: In North America, the United States is the largest market for perovskite solar cells. The market is driven by increasing demand for renewable energy and the need to reduce dependence on fossil fuels. The U.S. government has also invested heavily in research and development of perovskite solar cells, which has helped to drive the growth of the market in the region.

Europe: In Europe, countries such as Germany, Spain, and Italy are the major markets for perovskite solar cells. The market is driven by increasing demand for clean energy and the need to reduce carbon emissions. The European Union has set ambitious targets for reducing greenhouse gas emissions, which has created a favorable environment for the growth of the perovskite solar cell market in the region.

Asia-Pacific: In Asia-Pacific, China, Japan, and South Korea are the major markets for perovskite solar cells. The market is driven by increasing demand for clean energy and the need to reduce dependence on fossil fuels. China is the largest producer and consumer of solar cells in the world, and the government has invested heavily in the development of perovskite solar cells, which has helped to drive the growth of the market in the region.

Middle East and Africa: In the Middle East and Africa, the market for perovskite solar cells is still in its early stages, but the region has significant potential for growth. The market is driven by increasing demand for clean energy and the need to reduce dependence on fossil fuels. The region has abundant solar resources, which makes it an ideal location for solar energy production.

South America: In South America, Brazil is the largest market for perovskite solar cells. The market is driven by increasing demand for clean energy and the need to reduce dependence on fossil fuels. The government has also introduced policies to promote the development of renewable energy, which has helped to drive the growth of the market in the region.

Key players and market strategies:

Companies operating in the Global Perovskite Solar Cell Market have adopted several growth strategies to expand their market share and increase revenue. The major growth strategies adopted by these companies include:

Partnerships and collaborations: Companies have formed partnerships and collaborations with other companies, research institutions, and universities to accelerate the development and commercialization of perovskite solar cells.

Product development and innovation: Companies are investing heavily in research and development to improve the efficiency and durability of perovskite solar cells. They are also developing new products and applications for perovskite solar cells to expand their market reach.

Mergers and acquisitions: Companies are acquiring other companies to expand their product portfolio and market reach. This allows them to enter new markets and increase their revenue streams.

Expansion of production facilities: Companies are expanding their production facilities to increase their production capacity and meet the growing demand for perovskite solar cells.

Strategic alliances: Companies are forming strategic alliances with suppliers and distributors to strengthen their supply chain and distribution network.

Marketing and branding: Companies are investing in marketing and branding initiatives to increase awareness about perovskite solar cells and their benefits. This helps to create a favorable market environment for the adoption of perovskite solar cells.

BASF SE, EPFL - Ecole Polytechnique Federale de Lausanne, Fraunhofer ISE, Greatcell Solar Limited, Heliatek GmbH, Oxford PV Ltd., Saule Technologies, Solaronix SA, Solliance Solar Research, Swift Solar Inc., Tandem PV, UbiQD, Inc., Univ. of Cambridge, Univ. of Oxford, VTT Technical Research Centre of Finland Ltd. and many more.

Global Perovskite Solar Cell Market Segmentation:

By Structure

Planar Perovskite Solar Cells
Mesoporous Perovskite Solar Cells

By Product

Rigid Perovskite Solar Cells
Flexible Perovskite Solar Cells

By Method

Solution Method
Vapor-Assisted Solution Method
Vapor-Deposition Method

By Application

Smart Glass
Perovskite in Tandem Solar Cells
Solar Panel
Portable Devices
Utilities
BIPV (Building-Integrated Photovoltaics)

By End-Use

By Region

North America
- United States
- Canada
- Rest of North America
Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
Asia Pacific
- Japan
- India
- China
- Australia
- South Korea
- Rest of Asia Pacific
Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
South America
- Brazil
- Rest of South America

Table Of Content

Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
Market Synopsis: Global Perovskite Solar Cell Market
Global Perovskite Solar Cell Market Qualitative Analysis
- Trends
  - Market trends
  - Technology Trends
- PESTLE Analysis (For 3 prominent countries)
- Market Influencers
  - Driving Forces
  - Hindering Forces
  - Opportunities
- COVID-19 impact
- Porter’s Five Forces Analysis
- Value Chain Analysis
Global Perovskite Solar Cell Market Analysis and Forecast, by Product
- Overview and definitions
- Key segment analysis
- Global Perovskite Solar Cell Market Estimates (US$ Mn), Product, 2019 – 2032
  - Rigid Perovskite Solar Cells
  - Flexible Perovskite Solar Cells

Global Perovskite Solar Cell Market Analysis and Forecast, by Structure
- Overview and definitions
- Key segment analysis
- Global Perovskite Solar Cell Market Estimates (US$ Mn), Structure, 2019 – 2032
  - Planar Perovskite Solar Cells
  - Mesoporous Perovskite Solar Cells

Global Perovskite Solar Cell Market Analysis and Forecast, by Method
- Overview and definitions
- Key segment analysis
- Global Perovskite Solar Cell Market Estimates (US$ Mn), Method, 2019 – 2032
  - Solution Method
  - Vapor-Assisted Solution Method
  - Vapor-Deposition Method

Global Perovskite Solar Cell Market Analysis and Forecast, by Application
- Overview and definitions
- Key segment analysis
- Global Perovskite Solar Cell Market Estimates (US$ Mn), Application, 2019 – 2032
  - Smart Glass
  - Perovskite in Tandem Solar Cells
  - Solar Panel
  - Portable Devices
  - Utilities
  - BIPV (Building-Integrated Photovoltaics)

Global Perovskite Solar Cell Market Analysis and Forecast, by End Use
- Overview and definitions
- Key segment analysis
- Global Perovskite Solar Cell Market Estimates (US$ Mn), End Use, 2019 – 2032
  - Manufacturing
  - Energy
  - Aerospace
  - Industrial Automation
  - Consumer Electronics
  - Others

Global Perovskite Solar Cell Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Perovskite Solar Cell Market Estimates (US$ Mn), by Region, 2019 – 2032
  - North America
  - Europe
  - Asia Pacific
  - Middle East & Africa
  - South America

North America Perovskite Solar Cell Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Perovskite Solar Cell Market Estimates (US$ Mn), Product, 2019 – 2032
  - Rigid Perovskite Solar Cells
  - Flexible Perovskite Solar Cells
- North America Perovskite Solar Cell Market Estimates (US$ Mn), Structure, 2019 – 2032
  - Planar Perovskite Solar Cells
  - Mesoporous Perovskite Solar Cells
- North America Perovskite Solar Cell Market Estimates (US$ Mn), Method, 2019 – 2032
  - Solution Method
  - Vapor-Assisted Solution Method
  - Vapor-Deposition Method
- North America Perovskite Solar Cell Market Estimates (US$ Mn), Application, 2019 – 2032
  - Smart Glass
  - Perovskite in Tandem Solar Cells
  - Solar Panel
  - Portable Devices
  - Utilities
  - BIPV (Building-Integrated Photovoltaics)
- North America Perovskite Solar Cell Market Estimates (US$ Mn), End Use, 2019 – 2032
  - Manufacturing
  - Energy
  - Aerospace
  - Industrial Automation
  - Consumer Electronics
  - Others
- North America Perovskite Solar Cell Market Estimates (US$ Mn), by Country, 2019 – 2032
  - United States
  - Canada
  - Rest of North America

Europe Perovskite Solar Cell Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Perovskite Solar Cell Market Estimates (US$ Mn), Product, 2019 – 2032
  - Rigid Perovskite Solar Cells
  - Flexible Perovskite Solar Cells
- Europe Perovskite Solar Cell Market Estimates (US$ Mn), Structure, 2019 – 2032
  - Planar Perovskite Solar Cells
  - Mesoporous Perovskite Solar Cells
- Europe Perovskite Solar Cell Market Estimates (US$ Mn), Method, 2019 – 2032
  - Solution Method
  - Vapor-Assisted Solution Method
  - Vapor-Deposition Method
- Europe Perovskite Solar Cell Market Estimates (US$ Mn), Application, 2019 – 2032
  - Smart Glass
  - Perovskite in Tandem Solar Cells
  - Solar Panel
  - Portable Devices
  - Utilities
  - BIPV (Building-Integrated Photovoltaics)
- Europe Perovskite Solar Cell Market Estimates (US$ Mn), End Use, 2019 – 2032
  - Manufacturing
  - Energy
  - Aerospace
  - Industrial Automation
  - Consumer Electronics
  - Others
- Europe Perovskite Solar Cell Market Estimates (US$ Mn), by Country, 2019 – 2032
  - Germany
  - United Kingdom
  - Italy
  - France
  - Spain
  - Rest of Europe

Asia Pacific Perovskite Solar Cell Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Perovskite Solar Cell Market Estimates (US$ Mn), Product, 2019 – 2032
  - Rigid Perovskite Solar Cells
  - Flexible Perovskite Solar Cells
- Asia Pacific Perovskite Solar Cell Market Estimates (US$ Mn), Structure, 2019 – 2032
  - Planar Perovskite Solar Cells
  - Mesoporous Perovskite Solar Cells
- Asia Pacific Perovskite Solar Cell Market Estimates (US$ Mn), Method, 2019 – 2032
  - Solution Method
  - Vapor-Assisted Solution Method
  - Vapor-Deposition Method
- Asia Pacific Perovskite Solar Cell Market Estimates (US$ Mn), Application, 2019 – 2032
  - Smart Glass
  - Perovskite in Tandem Solar Cells
  - Solar Panel
  - Portable Devices
  - Utilities
  - BIPV (Building-Integrated Photovoltaics)
- Asia Pacific Perovskite Solar Cell Market Estimates (US$ Mn), End Use, 2019 – 2032
  - Manufacturing
  - Energy
  - Aerospace
  - Industrial Automation
  - Consumer Electronics
  - Others
- Asia Pacific Perovskite Solar Cell Market Estimates (US$ Mn), by Country, 2019 – 2032
  - China
  - Japan
  - South Korea
  - India
  - Australia
  - Rest of Asia Pacific

Middle East & Africa Perovskite Solar Cell Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Perovskite Solar Cell Market Estimates (US$ Mn), Product, 2019 – 2032
  - Rigid Perovskite Solar Cells
  - Flexible Perovskite Solar Cells
- Middle East & Africa Perovskite Solar Cell Market Estimates (US$ Mn), Structure, 2019 – 2032
  - Planar Perovskite Solar Cells
  - Mesoporous Perovskite Solar Cells
- Middle East & Africa Perovskite Solar Cell Market Estimates (US$ Mn), Method, 2019 – 2032
  - Solution Method
  - Vapor-Assisted Solution Method
  - Vapor-Deposition Method
- Middle East & Africa Perovskite Solar Cell Market Estimates (US$ Mn), Application, 2019 – 2032
  - Smart Glass
  - Perovskite in Tandem Solar Cells
  - Solar Panel
  - Portable Devices
  - Utilities
  - BIPV (Building-Integrated Photovoltaics)
- Middle East & Africa Perovskite Solar Cell Market Estimates (US$ Mn), End Use, 2019 – 2032
  - Manufacturing
  - Energy
  - Aerospace
  - Industrial Automation
  - Consumer Electronics
  - Others
- Middle East & Africa Perovskite Solar Cell Market Estimates (US$ Mn), by Country, 2019 – 2032
  - UAE
  - Saudi Arabia
  - South Africa
  - Rest of MEA

South America Perovskite Solar Cell Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Perovskite Solar Cell Market Estimates (US$ Mn), Product, 2019 – 2032
  - Rigid Perovskite Solar Cells
  - Flexible Perovskite Solar Cells
- South America Perovskite Solar Cell Market Estimates (US$ Mn), Structure, 2019 – 2032
  - Planar Perovskite Solar Cells
  - Mesoporous Perovskite Solar Cells
- South America Perovskite Solar Cell Market Estimates (US$ Mn), Method, 2019 – 2032
  - Solution Method
  - Vapor-Assisted Solution Method
  - Vapor-Deposition Method
- South America Perovskite Solar Cell Market Estimates (US$ Mn), Application, 2019 – 2032
  - Smart Glass
  - Perovskite in Tandem Solar Cells
  - Solar Panel
  - Portable Devices
  - Utilities
  - BIPV (Building-Integrated Photovoltaics)
- South America Perovskite Solar Cell Market Estimates (US$ Mn), End Use, 2019 – 2032
  - Manufacturing
  - Energy
  - Aerospace
  - Industrial Automation
  - Consumer Electronics
  - Others
- South America Perovskite Solar Cell Market Estimates (US$ Mn), by Country, 2019 – 2032
  - Brazil
  - Argentina
  - Rest of South America

Competition Analysis – Global Perovskite Solar Cell Market
- Market Composition
- Market Share Analysis (%), by Supplier (2022)
- Company Profiles
  - BASF SE
    - Business overview
    - Geographic presence
    - Product portfolio
    - Financial facts
    - Relevant news and strategic view
  - EPFL - Ecole Polytechnique Federale de Lausanne
  - Fraunhofer ISE
  - Greatcell Solar Limited
  - Heliatek GmbH
  - Oxford PV Ltd.
  - Saule Technologies
  - Solaronix SA
  - Solliance Solar Research
  - Swift Solar Inc.
  - Tandem PV
  - UbiQD, Inc.
  - of Cambridge
  - of Oxford
  - VTT Technical Research Centre of Finland Ltd.

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Frequently asked questions about this report

How large is the perovskite solar cell market?

The perovskite solar cell market size is expected to reach US$ 23.91 Billion by 2032.

What is the perovskite solar cell market growth?

The perovskite solar cell market is expected to grow at a CAGR of 31.5% from 2023 to 2032.

What are the factors driving the perovskite solar cell market?

The perovskite solar cell market is being driven by various factors, including the increasing demand for renewable energy sources, growing need for cost-effective and efficient solar cells, and the potential for higher efficiency than traditional solar cells.

Which is the largest market for perovskite solar cell in North America?

In North America, the United States is the largest market for perovskite solar cells. The market is driven by increasing demand for renewable energy and the need to reduce dependence on fossil fuels.

What are some of the uses of perovskite solar cell?

The perovskite solar cell are largely used in the Smart Glass, Perovskite in Tandem Solar Cells, Solar Panel, Portable Devices, Utilities, BIPV (Building-Integrated Photovoltaics) and others.

Which are the companies operating in the global perovskite solar cell industry?

Which application is the largest in the perovskite solar cell market?

The solar panel segment is currently the largest in the global perovskite solar cell market. This is because solar panels are the most common application for solar cells, and perovskite solar cells have shown great potential for high efficiency and low-cost manufacturing, making them an attractive alternative to traditional silicon-based solar cells.