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Global Solid-State Solar Cell Market – Industry Trends and Forecast to 2029

Semiconductors and Electronics

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Global Solid-State Solar Cell Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Upcoming Report
  • Apr 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Solid-State Solar Cell Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 0.56 USD Billion
Diagram Market Size (Forecast Year) USD 1.49 USD Billion
Diagram CAGR %

Major Markets Players

  • Merck KGaA
  • Oxford PV
  • Solaronix SA
  • Fraunhofer ISE
  • Dyenamo AB

Global Solid-State Solar Cell Market, By Dimension (17 mm × 19 mm, 28 mm × 32 mm, 52 mm × 84 mm), Output (11 μW, 40 μW, 230 μW), Application (LEDs, Switches, Sensors, Others), End Use (Residential, Commercial) - Industry Trends and Forecast to 2029

Solid-State Solar Cell Market

Market Analysis and Size

Solid-state solar cell are considered one of the solar technologies offering added functionality at lower cost. This technology is being highly deployed throughout the world due to the rise in awareness among consumers regarding adverse environmental impacts of fossil fuels.

Global Solid-State Solar Cell Market was valued at USD 0.56 billion in 2021 and is expected to reach USD 1.49 million by 2029, registering a CAGR of 12.90% during the forecast period of 2022-2029. Commercial is expected to witness high growth in the end use segments owing to the rise in industrialization. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Solid-state batteries refer to the batteries that are known to be more stable, safer, and have higher energy densities compared to conventional Li-ion batteries with liquid electrolytes. They are utilized in various applications, consumer electronics, energy harvesting, smart cards, wireless communication, electric vehicle and medical devices.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Dimension (17 mm × 19 mm, 28 mm × 32 mm, 52 mm × 84 mm), Output (11 μW, 40 μW, 230 μW), Application (LEDs, Switches, Sensors, Others), End Use (Residential, Commercial)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Merck KGaA (Germany), Oxford PV (UK), Solaronix SA (Switzerland), Fraunhofer ISE (Germany), Dyenamo AB (Sweden), EPFL (Switzerland), G24 Power Ltd. (UK), among others

Market Opportunities

  • Recent technical advancements reducing production cost
  • Rise in awareness among buyers regarding adverse environmental impacts of non-renewable source-based power
  • Rise in economic growth and energy security

Solid-State Solar Cell Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Rise in Awareness regarding Adverse Environmental Impacts

The rise in awareness among buyers regarding adverse environmental impacts of non-renewable source-based power acts as one of the major factors driving the solid-state solar cell market. Also, increase in the dependence on unconventional sources of energy has a positive impact on the market.

•          Modern Energy Services

The rise in economic growth and energy security accelerate the market growth. Also, increase in the need for reducing poverty and improving the quality of life with the help of modern energy services has assist in the expansion of the market.

  • Increase in Solar System Installation

The increase in the number of installation of solar system further influence the market. The rise in demand of solid-state solar cell because of growing need to decline prices of solar cells modules drives the growth of the market.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the solid-state solar cell market.

Opportunities

Furthermore, recent technical advancements reducing production cost extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, improvement in infrastructure development activities will further expand the market.

Restraints/Challenges

On the other hand, durability and safety issues are expected to obstruct market growth. Also, fluctuations in the raw materials are projected to challenge the solid-state solar cell market in the forecast period of 2022-2029.

This solid-state solar cell market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on solid-state solar cell market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Solid-State Solar Cell Market

The COVID-19 had a negative impact on the solid-state solar cell market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand solid-state solar cell technology. The supply chain got hampered during the pandemic along with delay logistics activities. However, the solid-state solar cell market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Recent Developments

  • Solar Energy Company Midsummer launched “Midsummer Solar Roof” in May’2019 consisting of a folded metal roof with an installed power of 100 W/m2. These roofs are custom-made to match the solar module and maximise the total installed power.

Global Solid-State Solar Cell Market Scope and Market Size

The dye-sensitized solar cell (Dssc) market is segmented on the basis of dimension, output, application and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Dimension

  • 17 mm × 19 mm
  • 28 mm × 32 mm
  • 52 mm × 84 mm

Output

  • 11 μW
  • 40 μW
  • 230 μW

Application

End Use

  • Residential
  • Commercial

Solid-State Solar Cell Market Regional Analysis/Insights

The solid-state solar cell market is analysed and market size insights and trends are provided by country, dimension, output, application and end use as referred above.

The countries covered in the solid-state solar cell market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific (APAC) dominates the solid-state solar cell market because of the increase number of research and development activities in Japan, China, India, and South Korea.

North America is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in number of solar cell practices in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Solid-State Solar Cell Market

The solid-state solar cell market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to solid-state solar cell market.

Some of the major players operating in solid-state solar cell market are

  • Merck KGaA (Germany)
  • Oxford PV (UK)
  • Solaronix SA (Switzerland)
  • Fraunhofer ISE (Germany)
  • Dyenamo AB (Sweden)
  • EPFL (Switzerland)
  • G24 Power Ltd. (UK)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Solid-State Solar Cell Market is expected USD 1.49 million by 2029.
Solid-State Solar Cell Market is expected to witness CAGR of 12.90% during the forecast by 2029.
On the basis of application, the Solid-State Solar Cell Market is segmented into LEDs, Switches, Sensors, Others.
The major players operating in the Solid-State Solar Cell Market are Merck KGaA (Germany), Oxford PV (UK), Solaronix SA (Switzerland), Fraunhofer ISE (Germany), Dyenamo AB (Sweden), EPFL (Switzerland), G24 Power Ltd. (UK), among others.
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