Perovskite solar cells have made significant progress in recent years, with because of their rapid conversion efficiency. Perovskite solar cells lightweight and flexibility will propel industry expansion. Furthermore, the perovskite solar cell industry will be transformed by affordability and good optical absorption. Solar energy is becoming increasingly important in developing economies such as India and China. The growing understanding of the importance of solar energy utilization across a wide portion of the global population will result in promising growth for perovskite solar cell market. The growth of the market is dependent on research and development activities. Market players are investing into these activities in order to gain new insights. These actions serve to increase the revenue of participants in the perovskite solar cell market, which in turn helps to drive industry growth. Mergers and acquisitions are also playing a significant role in the growth of the perovskite solar cell market.
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Key participants include Oxford Photovoltaics, FrontMaterials Co. Ltd., Solaronix SA, Xiamen Weihua Solar Co. Ltd., Fraunhofer ISE, Dyesol, Saule Technologies, FlexLink Systems Inc., Polyera Corporation, and New Energy Technologies Inc., among others.
Further key findings from the report suggest
- By structure, mesoporous perovskite held a major market share in 2018. At present, the mesoporous structure is one of the most popular structures in the fabrication of the product, with a power conversion efficiency of over 20%.
- By product type, flexible perovskite solar cells are expected to grow at a faster rate of 32.8% in the forecast period. These are a potential photovoltaic technology attributed to their intrinsic advantages such as lightweight and bendability, making them very convenient for transportation, installation, and integration with wearable electricityâ€generating devices and architectures.
- The vapor-assisted solution method is forecasted to witness the highest growth rate of 33.3% in the forecast period. This method is a relatively economical synthesis method of high-quality light-absorbing perovskite layers and was developed to avoid the disadvantages of the solution method and the vapor deposition method.
- The Asia Pacific region dominated the market in 2018 and is expected to grow at a rate of 32.7% in the period 2019-2026. Rapid urbanization and increasing demand in the region for sustainable energy is likely to drive the market growth in the upcoming years. Also, rapid advancement and adoption of the technology in the countries of this region are adding to the growth of the market.
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For the purpose of this report, Reports and Data have segmented the global perovskite market on the basis of structure, product type, method, industry verticals, and region:
Structure Outlook (Revenue, USD Million; 2018-2028)
- Planar Perovskite Solar Cells
- Mesoporous Perovskite Solar Cells
Product Type Outlook (Revenue, USD Million; 2018-2028)
- Rigid Perovskite Solar Cells
- Flexible Perovskite Solar Cells
Method Outlook (Revenue, USD Million; 2018-2028)
- Solution Method
- Vapor-Deposition Method
- Vapor-Assisted Solution Method
Industry Verticals Outlook (Revenue, USD Million; 2018-2028)
- Industrial Automation
- Consumer Electronics
Regional Analysis Covers:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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