Organic Solar Cells Market Size to Hit USD 101.29 Million by 2027 | Exhibit a CAGR of 12.30%
Generation of Power Using Renewable Resources in Asia Pacific to Propel Growth Organic Solar Cells Industry
Pune, India, Aug. 22, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global organic solar cells market size is projected to hit USD 101.29 million by 2027 and exhibit a CAGR of 12.30% during the forecast period. The market size stood at USD 55.63 million in 2019 and USD 44.9 million in 2020. The global organic solar cell market is set to gain impetus from the rapid infrastructure development and increasing population growth. It would propel the demand for electricity worldwide.
Industry Developments:
January 2020: Researchers of Aarhus University, Denmark developed a microscopic organic PV technology. It can be utilized to create neural stimulating scaffolds in the human body that will control lights. It can also help to provide a non-invasive therapeutic treatment method.
October 2018: Heliatek installed around 185 m² of organic photovoltaic films in the warehouse of Duisburger Hafen AG. It is considered to be the largest facade installation of organic solar cells to date.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast Period 2020 TO 2027 CAGR | 12.30% |
| 2027 Value Projection | USD 101.29 million |
| Base Year | 2019 |
| Market Size in 2019 | USD 55.63 million |
| Historical Data for | 2016-2018 |
| No. of Pages | 180 |
| Segments covered | Application, Geography |
| Growth Drivers | Surging Demand for BIPV to Drive Growth of the Market |
| Favourable Government Initiatives and Policies to Fuel Growth |
COVID-19 Impact:
Delay in Solar Projects to Hamper Growth amid COVID-19 Pandemic Globally
The COVID-19 pandemic has taken a huge toll on the global economy. Owing to the prolonged social distancing and lockdown measure, various industries are facing labor shortages, disturbances in supply chains, delay in projects, and halt of manufacturing activities. In India, for instance, numerous solar projects are currently being postponed or delayed as most of the components are imported from China. The pandemic has also caused order backlogs.
What Does This Report Contain?
The report provides intelligent insights on new product developments, R&D activities, and future technologies. At the same time, it delivers elaborate information about recent investments, developments, and untapped geographies. Besides, our analysts have conducted an assessment of manufacturing capabilities, strategies, and shares of prominent companies.
Market Drivers:
Urgent Need to Protect Buildings from Harsh Climatic Conditions will Spur Growth
The emergence of building-integrated photovoltaics (BIPV) products is set to accelerate the organic solar cell market growth in the upcoming years. These products provide several enhanced functionalities to a building, unlike conventional construction materials. It can effectively convert buildings into energy producers from energy consumers. But, to achieve this, the BIPV technology has to be blended with the modern construction technology. Besides, it is capable of protecting buildings from noises and harsh climatic conditions. However, the lack of awareness about new technologies in the field of organic solar cells may obstruct growth in the forthcoming years.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/organic-solar-cell-market-101555
Regional Insights:
Europe to Remain at the Forefront Owing to Increasing Investments to Develop New Technologies
Geographically, Europe generated 17.49 million in terms of revenue in 2019. It is anticipated to dominate throughout the forecast period stoked by the rising investments in the development of organic solar cell technology. It is mainly set to occur in the U.K., France, and Germany.
On the other hand, Asia Pacific is likely to show significant growth fueled by the rising investments in Japan and China. In India and China, government agencies are supporting the usage of renewable resources for generating power.
Competitive Landscape-
Key Players Focus on Partnerships & R&D Activities to Create Novel Products
The global market is consolidated because of the presence of a limited number of manufacturers. They are mainly focusing on collaborations and partnerships to participate in new projects. Some of the academic institutes are conducting extensive research to develop innovative organic solar cells.
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A list of all the renowned organic solar cell companies operating in the global market:
- Heliatek (Germany)
- ARMOR (France)
- infinityPV ApS (Denmark)
- Solarmer Energy, Inc. (U.S.)
- NanoFlex Power Corporation (U.S.)
- Optodot (U.S.)
- Eni (Italy)
- New Energy Technologies Inc. (U.S.)
- Novaled GmbH (Germany)
- Brite Solar (Greece)
Market Segmentation:
By Application:
- Building Integrated Photovoltaic (BIPV)
- Portable Electronics
- Defense Application
- Conventional Solar
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Solar Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Organic Solar Cell Market Analysis (USD Million), Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Application
6.2.1.Building Integrated Photovoltaic (BIPV)
6.2.2.Portable Electronics
6.2.3.Defense Application
6.2.4.Conventional Solar
6.2.5.Others
6.3. Market Analysis, Insights and Forecast – By Region
6.3.1.North America
6.3.2.Europe
6.3.3.Asia Pacific
6.3.4.Middle East & Africa
6.3.5.Latin America
7. North America Organic Solar Cell Market Analysis (USD Million), Insights and Forecast, 2016-2027
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Application
7.2.1.Building Integrated Photovoltaic (BIPV)
7.2.2.Portable Electronics
7.2.3.Defense Application
7.2.4.Conventional Solar
7.2.5.Others
7.3. Market Analysis, Insights and Forecast – By Country
7.3.1.U.S. Market Analysis and Forecast – By Application
7.3.1.1. Building Integrated Photovoltaic (BIPV)
7.3.1.2. Portable Electronics
7.3.1.3. Defense Application
7.3.1.4. Conventional Solar
7.3.1.5. Others
7.3.2.Canada Market Analysis and Forecast – By Application
7.3.2.1. Building Integrated Photovoltaic (BIPV)
7.3.2.2. Portable Electronics
7.3.2.3. Defense Application
7.3.2.4. Conventional Solar
7.3.2.5. Others
Continued…
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