Organic Solar Cell Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Organic Solar Cell Market grew at a CAGR of 11.6% between 2017-2021 and is estimated to be US$ 97.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 14.5% and is expected to reach a valuation of US$ 376.1 Mn by 2032 end.
OPV cells, which offer long-term performance and improved efficiency, have emerged as a potential PV technology. Additionally, soluble organic compounds enable roll-to-roll manufacturing and are effective in low-light environments.
RAPID DEMAND FOR BIPV DRIVES THE MARKET FOR ORGANIC SOLAR CELL
BIPV technology helps buildings to produce their power. The building-integrated photovoltaics (BIPV) products offer added functionalities to a building, whereas traditional construction materials use traditional methods to provide the same functionalities. BIPVs protect buildings from climatic conditions and noise and offer thermal insulation. Henceforth, their popularity has constantly been growing.
HIGH INVESTMENT FOR BIPV COSTS HAMPER THE MARKET GROWTH
BIPV technology is relatively new, expensive, and not widely used in the global market. However, buildings represent a higher proportion of global energy consumption than transportation systems. BIPV technology can convert the building into energy producers by using solar radiation as the main power source. To achieve this, construction technology needs to be merged with BIPV technology.
FAVORABLE GOVERNMENT POLICIES CREATES OPPORTUNITY FOR MARKET
The global market for ZEB is expected to increase in the coming years due to various initiatives by governments and private companies. These initiatives will encourage new constructions to be constructed as zero-energy buildings (ZEB). This report covers global market trends, products/services, size, challenges, opportunities, and growth prospects in the international Zero Energy Building (ZEB) market.
Market Segments Covered in Report
By Material :
By End User :
By Region and Country:
Why are Organic photovoltaic cells projected to ensure the most revenue during the forecast period?
Organic photovoltaic cells have the potential to produce electricity at a lower cost per unit of energy compared to silicon-based cells. The use of organic solar cells could potentially cut carbon emissions, but they are mechanically weaker and less efficient than their inorganic counterparts. This limits the market’s ability to sell and install enough equipment to meet global demand by 2021.
Why is the Building Integrated Photovoltaic segment expected to expand the fastest during the forecast period?
In 2021, The Building Integrated Photovoltaic (BIPV) market was expected to dominate the building integrated photovoltaic (BIPV) segment shortly. Organic photovoltaic cells had the highest revenue share, with 55.0% of the market. Pumped hydro energy storage technology and superior levels of efficiency are anticipated to enhance renewable installations, thereby boosting the BIPV installations over the forecast period. Also, it provides an effective and sustainable solution for retrofitting the structure’s exterior while providing an aesthetic appeal to the building.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The organic solar cell (OPV) market has evolved from a niche market to the next frontier for power generation. The rise in the usage of renewable energy, especially for solar plants, is expected to have a huge impact on the development of this particular market segment.
Some of the key developments that have taken place in the Organic Solar Cell Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Material, Application, End User, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 14.5%.
Mobile devices, defense or military-related applications, integrated photovoltaic building systems, and traditional solar applications all use organic solar cells in the global market. Building integrated photovoltaics currently dominates the market for organic solar cells.
Major global Organic Solar Cell Market players are Heliatek, ARMOR, infinityPV ApS, Solarmer Energy, Inc., NanoFlex Power Corporation, Optodot, Eni, New Energy Technologies Inc., Novaled GmbH, and Brite Solar.
On the other hand, the market’s expansion is significantly constrained by organic solar cells’ short lifespan and low efficiency.
The Europe region is expected to account for the largest market revenue share in the Global Organic Solar Cell market.
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