Perovskite Solar Cell Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Perovskite Solar Cell Market Trends and Forecast

The future of the global perovskite solar cell market looks promising with opportunities in the aerospace & defense, industrial, commercial, residential, and utility markets. The global perovskite solar cell market is expected to reach an estimated $2.02 billion by 2028 with a CAGR of 40.0% from 2023 to 2028. The major drivers for this market are increasing demand for low-cost and lightweight solar cells, supportive government policies, growing environmental concerns about carbon emission reduction, and rising penetration of solar power in the residential sector.

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Perovskite Solar Cell Market by Segment

The study includes trends and forecast for the global perovskite solar cell market by type, product, application, end use industry, and region, as follows:

Perovskite Solar Cell Market by Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Hybrid Perovskite Solar Cells
• Multi-Junction Perovskite Solar Cells

Perovskite Solar Cell Market by Product [Value ($B) Shipment Analysis from 2017 to 2028]:

• Rigid Perovskite Solar Cells
• Flexible Perovskite Solar Cells

Perovskite Solar Cell Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Smart Glass
• Solar Panel
• Building-Integrated Photovoltaics (BIPV)
• Others

Perovskite Solar Cell Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Aerospace & Defense
• Industrial
• Commercial
• Residential
• Utility

Perovskite Solar Cell Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Perovskite Solar Cell Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, perovskite solar cell companies in the global market cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the perovskite solar cell companies in the global market profiled in this report include:

• Hanwha Q Cells
• CubicPV
• EneCoat Technologies
• Microquanta Semiconductor
• Greatcell Energy
• Oxford PV
• P3C
• PEROVSKIA SOLAR AG
• Saule Technologies

Perovskite Solar Cell Market Insights

• Lucintel forecasts that solar panel will remain the largest segment over the forecast period due to the increasing usage of solar power to produce electricity across the globe.
• Within this market, residential segment expected to witness highest growth due to the increasing use of perovskite solar cell-based PV systems on the rooftop where adequate sunlight is available to meet the electric needs of the home.
• APAC is expected to witness highest growth over the forecast period due to the presence of key players and escalating need for alternative energy in order to reduce the consumption of fossil fuels as a result of rising urbanisation in the region.

Features of the Perovskite Solar Cell Market

• Market Size Estimates: Perovskite solar cell market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Perovskite solar cell market size by various segments, such as by type, product, application, end use industry, and region
• Regional Analysis: Perovskite solar cell market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by type, product, application, end use industry, and regions for the perovskite solar cell market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the perovskite solar cell market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the perovskite solar cell market size?
• Answer: The global perovskite solar cell market is expected to reach an estimated $2.02 billion by 2028.
• Q2. What is the growth forecast for perovskite solar cell market?
• Answer: The global perovskite solar cell market is expected to grow with a CAGR of 40.0% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the perovskite solar cell market?
• Answer: The major drivers for this market are increasing demand for low-cost and lightweight solar cells, supportive government policies, growing environmental concerns about carbon emission reduction, and rising penetration of solar power in the residential sector.
• Q4. What are the major segments for perovskite solar cell market?
• Answer: The future of the perovskite solar cell market looks promising with opportunities in the aerospace & defense, industrial, commercial, residential, and utility markets.
• Q5. Who are the key perovskite solar cell companies?
• Answer: Some of the key perovskite solar cell companies are as follows:
  • Hanwha Q Cells
  • CubicPV
  • EneCoat Technologies
  • Microquanta Semiconductor
  • Greatcell Energy
  • Oxford PV
  • P3C
  • PEROVSKIA SOLAR AG
  • Saule Technologies
• Q6. Which perovskite solar cell segment will be the largest in future?
• Answer:Lucintel forecasts that solar panel will remain the largest segment over the forecast period due to the increasing usage of solar power to produce electricity across the globe.
• Q7. In perovskite solar cell market, which region is expected to be the largest in next 5 years?
• Answer: APAC is expected to witness highest growth over the forecast period due to the presence of key players and escalating need for alternative energy in order to reduce the consumption of fossil fuels as a result of rising urbanisation in the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the perovskite solar cell market by type (hybrid perovskite solar cells and multi-junction perovskite solar cells), product (rigid perovskite solar cells and flexible perovskite solar cells), application (smart glasses, solar panels, building-integrated photovoltaics, and others), end use industry (aerospace & defense, industrial, commercial, residential, and utility), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity did occur in the last five years and how did they impact the industry?