Global Perovskite Solar Cell Market- Market Overview:

The global perovskite solar cell market is expected to grow from USD 0.70 billion in 2022 to USD 7.72 billion by 2030, at a CAGR of 35% during the Projection period 2023-2030. The growth of the perovskite solar cell market is mainly driven by rising in R&D.

Perovskite-structured material serves as the active layer in perovskite solar cells (PSCs). Excellent charge-carrier mobilities and light absorption are provided by these materials. The term "perovskite solar cell" refers to a type of solar cell where the light-harvesting active layer is primarily made of a hybrid organic-inorganic lead. The perovskite solar cells market will have great development prospects as a result of growing environmental concerns brought on by increased carbon emissions. The perovskite solar cell market will have tremendous growth opportunities during the Projection period due to the popularity of alternative energy sources and the rising number of applications in numerous sectors. The reduced weight and flexibility of perovskite solar cells will pave the way for rapid expansion. The market for perovskite solar cells will likewise be revolutionised by their low cost and great optical absorption. Solar energy is becoming increasingly important in developing nations like India and China. The population density in these areas is similarly high. The importance of perovskite solar cells is becoming more widely recognised, and this will likely lead to positive growth. The market for perovskite solar cells is expanding significantly as a result of research and development initiatives. To gain fresh ideas, the participants spend in these initiatives.

Sample Request: - Global Perovskite Solar Cell Market

Market Dynamics:

Drivers:                          

• Increase in Solar System Assessment

The increase in solar system installations has an effect on the market as well. Due to escalating requirements necessary to reduce the price of solar cell panels, the market is growing as a result of an increase in demand for perovskite solar cells. Additionally, the perovskite solar cells market is benefited from increased urbanization, alterations in lifestyle, an increase in reserves, and higher consumer spending. Perovskite-based solar cells are easier to obtain, more affordable, and easier to build than conventional energy panels. High performance is achieved by the amazing power conversion that these cells offer. These qualities are projected to greatly enhance the perovskite solar energy market due to their growing adoption.

Restraints:

• Variations in Raw Material

Gold is now the most widely utilized electrode material in perovskite solar cells. Perovskite solar cells are hence more expensive than other commercially available solar cells. The perovskite solar cell market is anticipated to suffer as a result of the Projection period. Market-available, less expensive perovskite solar cells have a shorter lifespan. The market for perovskite solar cells is further hampered by this. The market for perovskite solar cells is also significantly constrained by the toxicity of a chemical known as Pbl. Moreover, the majority of perovskite solar cells employ lead, a material that seriously pollutes the environment.

Opportunities:

• Flexible and Lightweight

Perovskite solar cells have a very high growth potential in the coming years because of their substantial temperature dependency and magnetic properties. In comparison to conventional storage photovoltaics, these devices also offer a number of additional advantages, such as the ability to react to different light wavelengths that are absorbed by the panels. They are also flexible and light, which will probably lead to an increase in demand for them in the upcoming years.

Challenges:

• High Cost

On the other hand, it is anticipated that high production costs will limit market expansion. Also, fluctuations in the raw materials are pojected to challenge the perovskite solar cell market in the Projection period.

Segmentation Analysis:

The global perovskite solar cell market has been segmented based on type, application, and region.

By Type

The type segment is a flexible perovskite solar cells and rigid perovskite solar cells. The flexible perovskite solar cells segment led the largest share of the perovskite solar cell market with a market share of around 60% in 2022. Flexible PSCs are anticipated to grow in popularity because of their increasing need in the field of wearable power sources, assimilation into architectures, and other advantages including portability, flexibility, lightweight, and compatibility with non-standard electronic goods.

By Application

The application segment is utilities, solar panel, smart glass, perovskite in tandem solar cells, portable devices and BIPV. The BIPV segment led the largest share of the perovskite solar cell market with a market share of around 36% in 2022. Flexible PSCs are anticipated to grow in popularity because of their increasing need in the field of wearable power sources, assimilation into architectures, and other advantages including portability, flexibility, lightweight, and compatibility with non-standard electronic goods.

Global Perovskite Solar Cell Market  - Sales Analysis.

The sale of the perovskite solar cell market expanded at a CAGR of 32% from 2016 to 2022.

The active layer of perovskite solar cells is made of a material with a perovskite structure (PSCs). These materials offer superior absorption coefficients and charge-carrier magnetic moments. A form of solar cell known as a "perovskite solar cell" uses a warm white active material that is predominantly composed of an organic-inorganic lead combination. Since lockdown situations depend on the solar power industry, both the demand for and the installation of perovskite solar panels have fallen since lockdown situations began. The solar industry faces challenges that include a lack of competent workers, adherence to socially unacceptable norms, a lack of raw materials, a lack of building supplies, and operational limitations that cause projects to be delayed.

Market recovery is projected to follow as long as the administration and its ministries continue to put plans in place to keep the pace of economic activity. The Indian Ministry of New and Renewable Energy has increased the exemptions available to businesses operating in the solar energy sector for the transportation of construction materials and other supplies necessary for the general operation of both domestic non-commercial and commercial developments. The African Union Council (AUC) and IRENA signed a contract in April 2020 for the construction of solar panel farms or other renewable technology embracing decentralized systems, according to information provided by the International Renewable Power Association. Moreover, to expand electrical access across the African continent. The cooperation intends to build alternative energy sources to improve the state of the water supply, hospital, and educational sectors and remove the nation from the pandemic's disarray. Such programs will increase the demand for solar energy, which is positive for cutting-edge technologies like polycrystalline cells.

Thus, owing to the aforementioned factors, the global perovskite solar cell market is expected to grow at a CAGR of 35% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the perovskite solar cell market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the perovskite solar cell market and held a 36% share of the market revenue in 2022.

• The North America region witnessed a major share. Because the consumer electronics industry is so well-developed in the area, the market is expanding. Because of the region's robust car industry, increasing end-use sector demand, and the existence of significant market participants in North American countries
• Asia Pacific is anticipated to experience significant growth during the Projection period. Driven by a rise in electronic advancements in nations like Japan, China, India, and South Korea.

Global Perovskite Solar Cell Market - Country Analysis:

• Germany

Germany's perovskite solar cell market size was valued at USD 0.042 billion in 2022 and is expected to reach USD 0.051 billion by 2030, at a CAGR of 2.5% from 2023 to 2030. Because more research and development activities are taking place in the region.

• China

China’s perovskite solar cell market size was valued at USD 0.073 billion in 2022 and is expected to reach USD 0.096 billion by 2030, at a CAGR of 3.5% from 2023 to 2030. The increase in demand for solar energy due to its versatility and low weight is the primary factor driving the crystalline solar cell sector. The market also gains from the increase of applications from various industries.

• India

India's perovskite solar cell market size was valued at USD 0.067 billion in 2022 and is expected to reach USD 0.086 billion by 2030, at a CAGR of 3.2% from 2023 to 2030. The market is expanding more quickly as a result of stable energy prices and increased economic activity. The need to employ present energy resources to fight poverty and improve the superiority of lifecycles has also grown, which has contributed to the industry's expansion in the region.

Key Industry Players Analysis:

To increase their market position in the global perovskite solar cell market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.   

• Crystalsol (CZTS)
• Dyesol
• FrontMaterials
• CSIRO
• Fraunhofer ISE
• Oxford Photovoltaics
• G24 Power
• Technical Research Centre of Finland (VTT)
• Saule Technologies
• Weihua Solar

Latest Development:

• In August 2020, The first piece of solar cell manufacturing equipment was sold by Meyer Burger, a Swiss engineering company, to Oxford PV, a perovskite-focused company. Through this acquisition, Oxford PV intends to construct a 250 MW perovskite special assembly facility by the end of 2021.
• In February 2020, Saule Technologies formally announced a test version of an industrial assembly line for perovskite-based inkjet-printed solar cells. The company aims to have built 180,000 sq m of solar cells by the end of 2021.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	35%
Market Size	0.70 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Type, By Application, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Crystalsol (CZTS), Dyesol, FrontMaterials, CSIRO, Fraunhofer ISE, Oxford Photovoltaics, G24 Power, Technical Research Centre of Finland (VTT), Saule Technologies, and Weihua Solar.
By Type	Flexible Perovskite Solar Cells Rigid Perovskite Solar Cells
By Application	Utilities Solar Panel Smart Glass Perovskite in Tandem Solar Cells Portable Devices BIPV
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Perovskite Solar Cell Market  By Type:

• Flexible Perovskite Solar Cells
• Rigid Perovskite Solar Cells

Global Perovskite Solar Cell Market  By Application:

• Utilities
• Solar Panel
• Smart Glass
• Perovskite in Tandem Solar Cells
• Portable Devices
• BIPV

Global Perovskite Solar Cell Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Both bureaucracy and corruption have a negative impact on the business environment. Operating in countries with high levels of corruption and lax law enforcement makes the business environment more insecure for the market for perovskite solar cell market because public confidence in corporate institutions and the wider political and economic system is damaged. Several corporate procedures, including contracting, fraud agreements, licencing, and numerous lawsuits, can be affected by corruption. By undermining society, the judicial system, and the rule of law, joining nations with corrupt economic and political systems would jeopardise the sustainable development of the perovskite solar cell market industry.

Economic Factors- The supply and demand of labour have an impact on wages and the accessibility of skilled workers. The perovskite solar cell market must conduct research and Projection the situation of the labour market in order to comprehend how to draw exceptional people and use their skills to improve business performance. When labour markets are open, the market for perovskite solar cell market can profit from increased labour productivity. However, operating in constrained labour markets may result in pay challenges as well as other issues raised by tenacious labour unions. Since a lack of qualified staff can affect business productivity and make it harder to attract new customers, the perovskite solar cell market should carefully analyse the availability of human resources as well.

Social factors- Customers' purchasing power has an impact on their spending patterns. It is necessary to evaluate and Projection consumer purchasing power based on relevant economic facts in order to analyse consumer interests and spending patterns. Some cultures view consuming the provided good as a status symbol, while others use it for functional reasons. The market for perovskite solar cell market should understand the sociological trends and consumption motives that influence customer behaviour. In order to understand how local customers in the area perceive imported goods, the perovskite solar cell market should also make an effort to understand the amount of consumer ethnocentrism and take into consideration the country of origin effect.

Technological Factors- The development of information and communication technologies has made it easier to deploy cutting-edge marketing techniques to enhance consumer collaboration. In the current business environment, social media use has grown significantly. The market for perovskite solar cell market can benefit from the opportunities offered by social media marketing to increase operational effectiveness. Technology advancements can be used to launch original social media campaigns for creating online brand communities.

Environmental Factors- To promote the use of renewable energy sources, some countries offer financial assistance. The market for perovskite solar cell market can benefit from it and invest in renewable technologies to ensure long-term viability. This investment will also lead to greater stakeholder satisfaction and a broader customer base because of improved brand perception. The efficiency with which enterprises run can be impacted by weather and climatic fluctuations. For example, unfavourable weather may increase operating expenses and drive the market for perovskite solar cell market to modify its value chain. These changes may also impact consumers' purchasing patterns, necessitating changes to a company's product and marketing strategies.

Legal Factors- Data protection has become a critical problem due to consumers worries about their privacy and security. The market for perovskite solar cell market must investigate data protection rules in order to safeguard consumer data. Laws are also in place to control costs, ensure a certain standard of quality, and protect consumers from misleading advertising claims. The market for perovskite solar cell market must take these factors into consideration in order to guarantee compliance with consumer protection laws. Intellectual property laws protect the valuable ideas and patents of companies. The position of the market for perovskite solar cell market in relation to other market participants could be harmed by a lack of IP protection because it can result in a loss of competitive advantage.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Type
     • 3.2. Market Attractiveness Analysis By End-User
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Increase in Solar System Assessment
   • 3. Restraints
     • 3.1. Variations in Raw Material
   • 4. Opportunities
     • 4.1. Flexible and Lightweight
   • 5. Challenges
     • 5.1. High Cost

6. Global Perovskite Solar Cell Market Analysis and Projection, By Type
   • 1. Segment Overview
   • 2. Flexible Perovskite Solar Cells
   • 3. Rigid Perovskite Solar Cells
7. Global Perovskite Solar Cell Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Utilities
   • 3. Solar Panel
   • 4. Smart Glass
   • 5. Perovskite in Tandem Solar Cells
   • 6. Portable Devices
   • 7. BIPV
8. Global Perovskite Solar Cell Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Perovskite Solar Cell Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Perovskite Solar Cell Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Crystalsol (CZTS)
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Dyesol
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • FrontMaterials
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • CSIRO
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Fraunhofer ISE
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Oxford Photovoltaics
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • G24 Power
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Technical Research Centre of Finland (VTT)
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Saule Technologies
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Weihua Solar
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
2. Global Flexible Perovskite Solar Cells, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
3. Global Rigid Perovskite Solar Cells, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
4. Global Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
5. Global Utilities, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
6. Global Solar Panel, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
7. Global Smart Glass, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
8. Global Perovskite in Tandem Solar Cells, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
9. Global Portable Devices, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
10. Global BIPV, Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
11. Global Perovskite Solar Cell Market, By Region, 2023–2030 (USD Billion)
12. North America Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
13. North America Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
14. USA Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
15. USA Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
16. Canada Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
17. Canada Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
18. Mexico Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
19. Mexico Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
20. Europe Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
21. Europe Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
22. Germany Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
23. Germany Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
24. France Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
25. France Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
26. UK Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
27. UK Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
28. Italy Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
29. Italy Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
30. Spain Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
31. Spain Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
32. Asia Pacific Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
33. Asia Pacific Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
34. Japan Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
35. Japan Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
36. China Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
37. China Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
38. India Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
39. India Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
40. South America Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
41. South America Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
42. Brazil Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
43. Brazil Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
44. Middle East and Africa Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
45. Middle East and Africa Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
46. UAE Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
47. UAE Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)
48. South Africa Perovskite Solar Cell Market, By Type, 2023–2030 (USD Billion)
49. South Africa Perovskite Solar Cell Market, By End-User 2023–2030 (USD Billion)

List of Figures 

1. Global Perovskite Solar Cell Market Segmentation
2. Perovskite Solar Cell Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Perovskite Solar Cell Market Attractiveness Analysis By Type
9. Global Perovskite Solar Cell Market Attractiveness Analysis By End-User
10. Global Perovskite Solar Cell Market Attractiveness Analysis By Region
11. Global Perovskite Solar Cell Market: Dynamics
12. Global Perovskite Solar Cell Market Share By Type (2023 & 2030)
13. Global Perovskite Solar Cell Market Share By End-User (2023 & 2030)
14. Global Perovskite Solar Cell Market Share by Regions (2023 & 2030)
15. Global Perovskite Solar Cell Market Share by Company (2021)