Global Perovskite Solar Cells Market Overview
Perovskite Solar Cells Market was valued at US$ 1.2 Billion in 2024 and is projected to grow at a CAGR of 5.20% to reach US$ 1.9 Billion by 2034.
Perovskite Solar Cells are a type of photovoltaic device that utilize perovskite materials to convert sunlight into electricity. Perovskites are a class of materials with a specific crystal structure, named after the mineral perovskite, which has the chemical formula ABX3.
The perovskite solar cell field has witnessed significant research efforts from both academia and industry. Collaborative initiatives, partnerships, and knowledge sharing have accelerated advancements and breakthroughs in perovskite solar cell technology. Continued research investment and collaboration are expected to drive further growth and innovation for Perovskite Solar Cells Market.
Global Perovskite Solar Cells Market Dynamics
Environmental Benefits
The manufacturing process of perovskite solar cells requires less energy compared to traditional solar cell technologies. The solution-based deposition methods used in perovskite cell fabrication consume fewer resources and have a lower carbon footprint. This results in reduced greenhouse gas emissions during the manufacturing stage. The overall environmental impact also depends on the entire life cycle of the technology, including manufacturing, installation, operation, and end-of-life considerations. Continued research and development efforts, along with responsible manufacturing practices and proper recycling infrastructure, are necessary to maximize the environmental benefits of perovskite solar cells.
High Efficiency
The high efficiency of perovskite solar cells positions them as a promising alternative to traditional solar cell technologies. As efficiency levels continue to rise and reach commercial viability, perovskite solar cells have the potential to play a significant role in the global renewable energy landscape. The field of perovskite solar cells is still rapidly evolving, with ongoing research and development efforts focused on improving efficiency. Scientists and engineers are exploring novel materials, device architectures, and fabrication techniques to push the efficiency boundaries further. This continuous research and development contribute to the potential for even higher efficiencies in the future.
Restrains:
Perovskite solar cells face competition from established solar cell technologies, such as silicon-based solar cells, which have a mature market presence and established manufacturing infrastructure. Overcoming this competition and establishing market acceptance for perovskite solar cells is a significant challenge.
Global Perovskite Solar Cells Market Segmentation
Perovskite Solar Cells Market is segmented based on Type, Application, End-User and Region.
Type Insight
On the basis of Type, Perovskite Solar Cells Market is segmented into Hybrid PSCs, FlexiblePSCs, and Multi-junction PSCs. Hybrid Perovskite Solar Cells (PSCs) is expected to dominate the target market growth Hybrid PSCs typically refer to perovskite solar cells that use a combination of organic and inorganic materials, such as methylammonium lead iodide (CH3NH3PbI3), as the perovskite absorber layer.
Application Insights
On the basis of Application, Perovskite Solar Cells Market is segmented into Smart glass, Solar panel, Perovskite in tandem solar cells, Portable devices, Utilities, and BIPV (Building-integrated photovoltaic). BIPV (Building-integrated photovoltaic) are expected to dominate the target market growth as these are solar panels integrated into building materials and structures to generate solar energy while performing architectural and design functions.
End-User Insights
On the basis of End-User, Perovskite Solar Cells Market is segmented into Manufacturing, Energy, Industrial automation, Aerospace, and Consumer electronics. Consumer Electronics are expected to dominate target market growth as this is a sector where perovskite solar cells are currently being explored and implemented to a significant extent.
Regional Insights:
On the basis of region the Perovskite Solar Cells Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is expected to have largest market in terms of revenue due to rise in the electronic development in countries like Japan, China, and India. North America and Europe is expected to show significant growth in the market due increase in the use of solar energy practices in this region. Latin America is expected to show moderate growth in the market during the forecast period.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Type - Hybrid PSCs, FlexiblePSCs, and Multi-junction PSCs By Application - Smart glass, Solar panel, Perovskite in tandem solar cells, Portable devices, Utilities, and BIPV (Building-integrated photovoltaic) By End-User - Manufacturing, Energy, Industrial automation, Aerospace, and Consumer electronics |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Perovskite Solar Cells Market report based on Type, Application, End-User and Region:
Perovskite Solar Cells Market, By Type:
- Hybrid PSCs
- FlexiblePSCs
- Multi-junction PSCs
Perovskite Solar Cells Market, By Application:
- Smart glass
- Solar panel
- Perovskite in tandem solar cells
- Portable devices
- Utilities
- BIPV (Building-integrated photovoltaic)
Perovskite Solar Cells Market, By End-User:
- Manufacturing
- Energy
- Industrial automation
- Aerospace
- Consumer electronics
Perovskite Solar Cells Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Global Perovskite Solar Cells Market Key Players
The key players operating the Perovskite Solar Cells Market includes, Alta Devices, Xeger Sweden AB, FlexLink Systems, Inc.24 Power Ltd, Polyera Corporation, SolarPrint Ltd, Dyesol Inc, Solaronix SA, New Energy Technologies Inc, and Ubiquitous Energy Inc.
Global Perovskite Solar Cells Market Key Issues Addressed
Recent Development:
- In February 2023, The U.S. and Europe are expanding solar manufacturing capacity to meet ambitious renewable energy targets and bolster energy security. Perovskite manufacturers should be assisted in transitioning from pilot to commercial-scale operations thanks to financial support provided by the U.S. Inflation Reduction Act and a fresh set of initiatives promised by the European Union last month. The crystal structure and excellent light absorption and electric charge characteristics of perovskite materials make them desirable. Tandem cells made of silicon and perovskite are viewed as the next stage as solar developers pursue higher efficiency and cheaper energy costs.
- In March 2023, In order to reduce the creation of anions vacancy defects in halide perovskite solar cells, scientists from Shaanxi Normal University in China developed a revolutionary control mechanism. They discovered that this new strategy produces significantly greater efficiency and amazing stability. A ligand known as 3-amidinopyridine (3AP) was used in the novel technique, which they described as a one-stone-for-two-birds strategy, to pin anions in the device. Anions can operate as a passivating agent to increase crystallinity and govern the nucleation and development of the perovskite crystals, resulting in increased efficiency.
- In May 2023, Perovskite solar cells have received a lot of support from researchers at the National Renewable Energy Laboratory (NREL) of the US Department of Energy. Since there are no free meals in life, artificial perovskites need some fine-tuning before they can outperform silicon solar cells in terms of clean energy.
- In June 2022, SC SOLAR launched a new cluster-type evaporation equipment especially suited for perovskite solar cells. SC SOLAR has been working to create a manufacturing facility for intelligent equipment in Suzhou. It is intended for the construction of high-end solar module production lines as well as the establishment of an R&D facility for the advancement of heterojunction and perovskite tandem cells.
Global Perovskite Solar Cells Market Company Profile
- Alta Devices*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Xeger Sweden AB
- FlexLink Systems, Inc.
- G24 Power Ltd
- Polyera Corporation
- SolarPrint Ltd
- Dyesol Inc.
- Solaronix SA
- New Energy Technologies Inc
- Ubiquitous Energy Inc.
“*” marked represents similar segmentation in other categories in the respective section
Global Perovskite Solar Cells Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By End-Users
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Type, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Hybrid PSCs
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- FlexiblePSCs
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Multi-junction PSCs
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Market Segmentation, By Application , Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Smart glass
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Solar panel
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Perovskite in tandem solar cells
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Portable devices
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Utilities
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Utilities BIPV (Building-integrated photovoltaics)
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Market Segmentation, By End-Users , Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Manufacturing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Energy
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Industrial automation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Aerospace
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Consumer electronics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End-Users , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End-Users , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End-Users , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Overview
- Latin America
- Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End-Users , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By End-Users , Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Alta Devices*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Xeger Sweden AB
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- FlexLink Systems, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- G24 Power Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Polyera Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SolarPrint Ltd
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dyesol Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Solaronix SA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- New Energy Technologies Inc
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ubiquitous Energy Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Perovskite solar cells market report segments the market on the basis of type, application, end user, and region.
Perovskite solar cells have broad range of wavelength as compared to conventional solar cell that helps reduces the cost of solar energy which is the major factor driving the growth of the global perovskite solar cells market. Also, they have many important properties including semitransparency, flexibility and lightweight that is preferred by the consumer boosting the target market growth.
Asia Pacific region is expected to have largest market in terms of revenue due to rise in the electronic development in countries like Japan, China, and India. North America and Europe is expected to show significant growth in the market due increase in the use of solar energy practices in this region. Latin America is expected to show moderate growth in the market during the forecast period.
Key players have adopted mergers & acquisitions and new product developments to strengthen their positions in the perovskite solar cells market. Alta Devices, Xeger Sweden AB, FlexLink Systems, Inc., G24 Power Ltd, Polyera Corporation, SolarPrint Ltd, Dyesol Inc., Solaronix SA, New Energy Technologies Inc, Ubiquitous Energy Inc.