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Perovskite Solar Cell Market Overview
The perovskite solar cell (PSC) market holds a high potential for growth during the forecast period, due to the increasing research and development activities for PSCs, along with the increasing awareness on the advantages offered by these over silicon photovoltaic (PV) devices. A PSC is a solar cell with a perovskite-structured compound, which offers superconductivity and magnetoresistance.
On the basis of application, the global perovskite solar cell market has been categorized into solar panels, smart glass, electronics, utilities, and others. A significant demand is expected to arise from the smart glass application, owing to the increasing usage of these solar cells in glass windows, in order convert the absorbed sunlight into electricity.
Geographically, the perovskite solar cell market has been categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). A significant demand for perovskite based solar cells is expected to arise from the North American region, during the forecast period. This is attributable to the large-scale research activities in the region, particularly the U.S., for the development of PSCs.
Perovskite Solar Cell Market Dynamics
Solar cells based on perovskite are available at significantly low costs and are more convenient, in terms of fabrication, in comparison to the conventional solar technology. In addition, these cells offer exceptional power conversion, thereby leading to high efficiency. Such properties are expected to drive the perovskite solar cell market to a great extent, by leading to the increasing adoption of such products.
The perovskite solar cell market holds a high potential for growth in the coming years, which is attributable to their high thermopower and magnetic properties. In addition, such equipment offers several other advantages over conventional solar technologies, which include the ability to react to the different wavelengths of the light received by the panel. Moreover, they are lightweight and flexible, owing to which the preference for these is likely to increase in the coming years.
Perovskite Solar Cell Market Competitive Landscape
Some of the players operating in the global market are Oxford PV, Greatcell Energy Limited, Solaronix SA, Energy Materials Corporation, Tandem PV, Solliance, and Microquanta Semiconductor Co. Ltd.
Segmentation of the Global Perovskite Solar Cell Market
The report offers the size of the global perovskite solar cell market for the period 2014–2030.
Market Segmentation by Application
Market Segmentation by Geography