Global Perovskite Solar Cell Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Perovskite Solar Cell Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A perovskite solar cell is a type of solar cell which includes a perovskite structured compound, most commonly a hybrid organic-inorganic lead or tin halide-based material, as the light-harvesting active layer. Perovskite materials such as methylammonium lead halides are cheap to produce and relatively simple to manufacture. Perovskites possess intrinsic properties like broad absorption spectrum, fast charge separation, long transport distance of electrons and holes, long carrier separation lifetime, and more, that make them very promising materials for solid-state solar cells.

Market Overview:

The latest research study on the global Perovskite Solar Cell market finds that the global Perovskite Solar Cell market reached a value of USD 174.71 million in 2022. It’s expected that the market will achieve USD 2262.34 million by 2028, exhibiting a CAGR of 53.24% during the forecast period.

Building integration potential

Perovskite solar cell is a thin-film battery. At present, it is important to deposit on glass, and different levels of transparency can be achieved by controlling the thickness and material of each layer of material. However, the efficiency of such applications will also decrease, but it is worth trying. For example, the laboratory of Oxford University can make semi-transparent batteries. If the solar cell that integrates daylighting and power generation is developed smoothly, it is expected to become a substitute for curtain wall decoration of high-rise buildings and colored glass film for vehicles. This factor brings certain opportunities to the development of the perovskite solar cell market in the future.

Battery packaging problem

Because the perovskite material easily absorbs moisture in the air, oxidation occurs. This requires keeping away from water vapor during the packaging process, that is, avoiding exposure to the air environment as much as possible. Therefore, the difficulty of packaging perovskite solar cells is greatly increased. A good package can not only prevent the leakage of toxic elements, but also improve battery efficiency and battery life. This technical requirement has brought certain challenges to perovskite solar cell manufacturing companies.

lifetime issues of perovskite solar cells

Another issue is the lifetime of perovskite solar cells, which is a special challenge because target applications such as public facilities and BIPV require a longer lifetime. The instability problem of perovskite solar cell has not yet been completely solved. If it is an external factor, high-performance fences such as glass or flexible materials used in OPV and OLED management and isolation systems can be used. If it is an internal factor, a new material system must be developed. This factor limits the development of the perovskite solar cell market.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Europe (41.97% in 2021).

Company Overview:

Saule Technologies is one of the major players operating in the Perovskite Solar Cell market, holding a share of 36.12% in 2021.

Saule Technologies

Saule Technologies is a nanotechnology company that develops innovative solar cells based on perovskite materials. The company specializes in the fields of photovoltaics, perovskite, optoelectronics, solar energy, and renewable energy. Saule Technologies was founded in 2014 and headquartered in Mazowieckie, Poland.

GCL Suzhou Nanotechnology Co., Ltd

GCL Suzhou Nanotechnology Co., Ltd is engaged in technology development, technology transfer, technical consulting, and technical services in the fields of nanotechnology, new material technology, new energy technology, and composite material technology; solar cells, solar energy and power supporting products and systems, solar energy development, sales and technical services of battery raw and auxiliary materials.

Segmentation Overview:

Among different product types, Rigid Module segment is anticipated to contribute the largest market share in 2027.

Rigid Module

The most efficient perovskite solar cells are often rigid so typically contain materials that need to be processed at temperatures over 250°C. Flexible solar cells have the advantage of a high power-to-weight ratio, flexibility and low manufacturing costs but trail behind rigid modules in terms of performance.

Flexible Module

Flexible module perovskite solar cells have shown great potential in the field of wearable power supply and integration with architectures in the future due to their advantages of high flexibility, light weight, portability, and compatibility with irregular electronic products. As a promising photovoltaic technology compatible with roll-to-roll manufacturing process, FPSCs have made significant progress in the past several years through composition engineering, interface modification, optimization of fabrication process, and exploitation of new charge transport materials. As a result, the light-to-electricity power conversion efficiency of FPSCs has exceeded 20% recently.

Application Overview:

The market's largest segment by application is the segment BIPV, with a market share of 47.72% in 2021.

Key Companies in the global Perovskite Solar Cell market covered in Chapter 3:

Hunt Perovskite Technologies (HPT)
Oxford Photovoltaics
Microquanta Semiconductor
Swift Solar
Saule Technologies
GCL Suzhou Nanotechnology Co., Ltd
Greatcell Energy
Li Yuan New Energy Technology Co.
Hubei Wonder Solar
Heiking PV Technology Co., Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Perovskite Solar Cell market from 2018 to 2029 is primarily split into:

Rigid Module
Flexible Module

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Perovskite Solar Cell market from 2018 to 2029 covers:

BIPV
Power Station
Defense & Aerospace
Transportation & Mobility
Consumer Electronics

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)