Perovskite Solar Cell Market Expected To Reach $6.6 Billion by 2030 | Registering a CAGR of 32.4%

Perovskite Solar Cell Market to Witness Comprehensive Growth by 2030

PORTLAND, OREGON, UNITED STATES, September 29, 2023 /EINPresswire.com/ -- Allied Market Research published a report on the Perovskite Solar Cell Market by Structure (Planar and Mesoporous), Product (Rigid and Flexible), Method (Solution Method, Vapor-Deposition Method, and Vapor-Assisted Solution Method), and End Use (Aerospace, Industrial Automation, Consumer Electronics, Energy): Global Opportunity Analysis and Industry Forecast, 2021-2030.

The global perovskite solar cell market size was valued at $0.4 billion in 2020 and is projected to reach $6.6 billion by 2030, growing at a CAGR of 32.4% from 2021 to 2030.

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Perovskite solar cell (PSC) includes the perovskite-structured material as an active layer based on the solution processed by tin or halide. Perovskite materials offer excellent light absorption, charge-carrier mobilities, and lifetimes, resulting in high device efficiencies with opportunities to realize a low-cost, industry-scalable technology. Perovskite solar cells (PSCs) are the most emerging area of research among different new-generation photovoltaic technologies due to their super power conversion efficiency (PCE). The perovskite solar cells efficiency is high in devices using perovskite cells and has improved significantly over the period, due to continuous developments in solar energy.

The goal of the perovskite solar cell is to boost cell efficiency while lowering solar energy costs. Solar cells made on perovskite may emit light in a wide variety of wavelengths. They can convert more solar energy into electricity as a result of this. One of the most significant benefits of perovskite solar cells over other solar technologies is their ability to store energy. These solar cells also have characteristics including flexibility, semitransparency, and lightness. These properties of perovskite solar cells are expected to open up new possibilities for a variety of solar cell applications. Gold is now the most popular electrode material in perovskite solar cells. As a result, perovskite solar cells are more expensive than other commercially available solar cells. This is projected to hinder the perovskite solar cell market during the projected period. These are some of the perovskite solar cell market trends observed globally.

The global Perovskite solar cell market is segmented on the basis of structure, product, method, end-use, and region. Based on the structure, the global Perovskite solar cell market is segmented into planar perovskite solar cells and mesoporous perovskite solar cells. The planar perovskite solar cells segment accounted for the largest share in 2020, while the mesoporous perovskite solar cells segment is projected to witness growth at the highest CAGR of 32.8%.

Based on the Product, the global Perovskite solar cell market is segmented into rigid perovskite solar cells and flexible perovskite solar cells. The flexible perovskite solar cells segment accounted for the largest share in 2020, while the rigid perovskite solar cells segment is projected to witness growth at the highest CAGR of 32.7%.

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On the basis of method, the global perovskite solar cell market is segmented into solution method, vapor-deposition method and vapor-assisted solution method. The vapor-deposition method segment accounted for the largest share in 2020, while the vapor-assisted solution Method segment is projected to grow at the highest CAGR of 32.9%.

The end use of Pervoskite solar cells includes aerospace, industrial automation, consumer electronics, energy and others. The energy segment accounted for the largest share of the perovskite solar cell market in 2020.

Competitive Analysis:

The Perovskite Solar Cell industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players in the global Perovskite Solar Cell market include,

Saule Technologies
Fraunhofer ISE
Solaronix SA
Dyesol, Polyera Corporation
Oxford Photovoltaics
Xiamen Weihua Solar Co. Ltd.
FrontMaterials Co. Ltd.
FlexLink Systems Inc.
New Energy Technologies Inc

Region-wise, the perovskite solar cell market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest share of the market in 2020, while Asia-Pacific was the fastest-growing region. Asia-Pacific has a well-established and growing demand potential for pharmaceutical and cosmetic products.

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Key Findings Of The Study

1. On the basis of structure, the Planar Perovskite Solar Cells segment emerged as the global leader by acquiring more than 68% of the market share in 2020 and is anticipated to continue this trend during the forecast period.

2. On the basis of product, the Flexible Perovskite Solar Cells segment emerged as the global leader by acquiring more than 56% of the market share in 2020 and is anticipated to continue this trend during the forecast period.

3. On the basis of the method, the Vapor-Deposition Method segment emerged as the global leader by acquiring more than 45% of the market share in 2020 and is anticipated to continue this trend during the forecast period.

4. On the basis of end-use, the Energy segment accounted for 39% of the global perovskite solar cell market share in FY2020.

5. On the basis of region, Europe is the major consumer of perovskite solar cells among other regions. It accounted for around 49% of the global perovskite solar cell market share in 2020.

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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Allied Analytics LLP
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