Global Dye-sensitized solar cells market is expected to undergo considerable growth over the coming years. Increasing solar energy demand continuously is the key factor driving the market growth. Furthermore, escalating consumer awareness regarding environmental effects associated with depletion of resources coupled with conventional sources of energy is anticipated to boost the industry growth. Technological advancements have assisted in decreasing the costs of production of dye-sensitized solar cells, which is projected to impact the market growth positively.
The market is currently concentrating on indoor and portable applications and is further anticipated to expand its market into other key applications such as steel roofing, automotive, bus shelters and outdoor advertising. Moreover, mounting environmental concerns on account of carbon emissions and global warming of non renewable sources of energy will encourage the dye-sensitized solar cells market growth further.
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Rising building integrated photovoltaic system (BIPV) demand is anticipated to contribute considerably towards industry growth. This is mainly owing to escalating requirements for portable electric charger. Although, existence of liquid electrolyte will limit the industry growth as it doesn’t react well to varying weather condition. Also, variation in oil & gas prices is anticipated to hamper the dye-sensitized solar cells market growth.
Escalating R&D projects in Europe is anticipated to increase the dye-sensitized solar cells market growth in the region. Furthermore, energy initiatives and politics from several countries such as Italy, Spain and Germany for decreasing the reliance on import of fossil fuel is anticipated to boost the industry demand. Existence of conventional resources in North America will facilitate the region to experience modern growth over the forecast period.
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Initiatives taken by the U.S government regarding usage of renewable energy is anticipated to impact the dye-sensitized solar cells market growth positively. Solar panels are manufactured in huge quantity in China, due to which Asia Pacific is expected to undergo significant gains over the forecast period. Key market participants operating in dye-sensitized solar cells market are Exeger Sweden AB, Peccell Technologies Inc., Fujikura Ltd., G24 Power Ltd., Dyesol Ltd., CSIRO, Solaris Nanosciences Corporation, Ricoh Company Ltd., Konica Minolta Sensing Americas, Sony Corporation and Merck KGaA.
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