Organic Solar Cells (OPVs) hold significant importance in the field of renewable energy due to their unique properties. Unlike traditional silicon based solar cells, OPVs are lightweight, flexible, and can be produced using cost-effective manufacturing processes such as printing. Their flexibility allows for integration into a variety of surfaces, expanding the possibilities for solar energy applications. OPVs also have the potential for low environmental impact, as they use organic materials.
According to Data Bridge Market Research analyses the Global Organic Solar Cell (OPV) Market is growing with a CAGR of 10.9% in the forecast period of 2023 to 2030 and is expected to reach USD 6,09,271.60 thousand by 2030.
"Increased environmental concerns boost the market growth"
The global organic solar cell (OPV) market is being driven by increasing awareness and concern about the environmental impact of traditional energy sources, particularly fossil fuels. OPVs offer a more environmentally friendly alternative by harnessing energy from the sun, a renewable and clean source. This not only reduces dependence on finite fossil fuels but also mitigates carbon emissions, contributing to a greener and sustainable energy landscape. As the demand for clean energy solutions rises globally, the OPV market is positioned as a key driver in addressing environmental concerns and promoting a transition towards more sustainable energy sources.
What restraints the growth of the global organic solar cell (OPV) market?
“Low efficiency rate hampers the market growth”
The global organic solar cell (OPV) market faces a significant restraint in the form of lower power conversion efficiency compared to traditional inorganic silicon solar cells. While offering flexibility and adaptability to various surfaces, organic solar cells have struggled to match the efficiency levels of their inorganic counterparts. This efficiency gap hinders the commercialization of organic solar cell technology, especially in applications where high efficiency is critical.
Segmentation: Global Organic Solar Cell (OPV) Market
The global organic solar cell (OPV) market is segmented on the basis of type, material, application, physical size and end-user.
- On the basis of type, the global organic solar cell (OPV) market is segmented into bilayer membrane heterojunction, schottky type, and others
- On the basis of material, the global organic solar cell (OPV) market is segmented into polymer and small molecules
- On the basis of application, the global organic solar cell (OPV) market is segmented into BIPV and architecture, consumer electronics, wearable devices, automotive, military and device, and others
- On the basis of physical size, the global organic solar cell (OPV) market is segmented into more than 140*100 mm square, and less than 140*100 mm square
- On the basis of end-user, the global organic solar cell (OPV) market is segmented into commercial, industrial, residential, and others
Regional Insights: Asia-Pacific dominates the Global Organic Solar Cell (OPV) Market
Asia-Pacific dominates the global organic solar cell (OPV) market due to advanced technology, substantial investments, and a rising demand for sustainable energy. Key players such as China, Japan, and South Korea lead in OPV manufacturing, supported by favorable government policies. This dominance underscores Asia-Pacific’s crucial role in shaping the future of OPV and renewable energy on a global scale.
- In the North American, U.S. dominates the global organic solar cell (OPV) market, driven by a rising awareness of OPV's unique benefits and its active involvement in research and development efforts, establishing itself as a key influencer in the region's organic solar technology landscape.
- In the Europe, Germany dominates the organic solar cell (OPV) market due to its advanced technology and a strong emphasis on sustainability, making it a key player in shaping the region's OPV landscape.
- In the Middle East and Africa, Israel dominates the organic solar cell (OPV) market, due to widespread adoption in commercial and residential sectors, supported by government incentives and a focus on renewable energy.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-organic-solar-cell-opv-market
Recent Developments in the Global Organic Solar Cell (OPV) Market
- In January 2023, Novaled GmbH clinched the 2022 "Corporate Health Excellence Award," boosting its recognition and standing among competitors in the industry
The Prominent Key Players Operating in the Global Organic Solar Cell (OPV) Market Include:
- Eni S.p.A (Italy)
- TOSHIBA CORPORATION (Japan)
- ARMOR (France)
- Tokyo Chemicals Industry Co. Ltd (Japan)
- Merck KGaA (Germany)
- Alfa Aesar (part of Thermo Fisher Scientific) (U.S.)
- Thermo Fisher Scientific (U.S.)
- Heliatek (Germany)
- Solarmer Energy Inc. (U.S.)
- SUNEW (Brazil)
- Epishine (Sweden)
- Lumtec (U.S.)
- Borun New Material Technology Co., Ltd (China)
- Novaled GmbH (Germany)
- Ningbo Polycrown Solar Tech Co., Ltd (China)
- SHIFENG TECHNOLOGY CO., LTD. (China)
- Solaris Chem Inc. (Taiwan)
- MORESCO Corporation (Japan)
- NanoFlex Power Corporation (U.S.)
- Flask (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global organic solar cell (OPV) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Organic Solar Cell (OPV) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
