Global Biohybrid Solar Cell Market, By Material (Silicon Crystal, Cadmium Telluride, Gallium Arsenide, Others), Application (Battery Storage, Solar Lighting, Commercial, Military and Aerospace, Others) – Industry Trends and Forecast to 2029.
Biohybrid Solar Cell Market Analysis and Size
The biohybrid solar cell market is driven by the high demand of clean and renewable energy and upsurge in the demand of electricity. Strict government regulations on carbon emission and limited availability of fossil fuels create the immense requirement for cost-effective and efficient sources such as biohybrid solar cell. The “silicon crystal” is the highest growing material segment because it is highly efficient compared to other alternative technologies over the forecast period. Furthermore, Cadmium telluride solar cell are the second most common technology globally because it provides a substitute to conventional silicon-based technologies and currently represents approx. 5% of the global market. Thus, biohybrid solar cell market is anticipated to rise high in the mentioned forecast period.
Data Bridge Market Research analyses that the biohybrid solar cell market was valued at USD 1.21 billion in 2021 and is expected to reach USD 2.77 billion by 2029, registering a CAGR of 10.93% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Biohybrid Solar Cell Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Material (Silicon Crystal, Cadmium Telluride, Gallium Arsenide, Others), Application (Battery Storage, Solar Lighting, Commercial, Military and Aerospace, Others)
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Countries Covered
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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, South Africa, Egypt, Israel, 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
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Market Players Covered
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Greatcell (Australia), Exeger Operations AB (Sweden), Fujikura Europe Ltd. (U.K.), G24 Power Ltd. (U.K.), Konica Minolta Sensing Europe B.V. (Netherlands), Merck KGaA (Germany), Oxford PV (U.K.), Peccell Technologies, Inc. (Japan), Sharp Corporation (Japan), Solaronix SA (Switzerland), Sony Corporation (Japan), Ricoh (Japan), First Solar. (U.S.), SunPower Corporation (U.S.), Suniva Inc (U.S.), Tata Power Solar Systems Ltd. (India), SHARP CORPORATION (Japan), ALPS Technology Inc. (U.S.), Solaris Technology Industry, Inc. (India), GREEN BRILLIANCE RENEWABLE ENERGY LLP (India), Trina Solar (China), Canadian Solar. (Canada)
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Market Opportunities
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Market Definition
A biohybrid solar cell is a solar cell made using a combination of organic matter (photosystem I) and inorganic matter. Biohybrid solar cells have been made by a team of researchers at Vanderbilt University.The team used the photosystem I (a photoactive protein complex located in the thylakoid membrane) to recreate the natural process of photosynthesis to obtain a greater efficiency in solar energy conversion. These biohybrid solar cells are a new type of renewable energy.
Biohybrid Solar Cell Market Dynamics
Drivers
- Advantages of biohybrid solar cell
The major advantage of the biohybrid solar cell is that it converts solar energy into electricity with almost 100% efficiency. This means there is no power loss through the conversion of chemical energy into electrical power. These numbers are more as compared to only a 40% efficiency which has generated by traditional solar cells. The biohybrid solar cell is highly efficient than other traditional solar cell due to this increase the demand of biohybrid solar cell which are expected to drive the market growth rate.
- Biohybrid solar cell being the alternatives of fossil fuel
The biohybrid solar cell are used as alternative of fossil fuel for the production of energy because fossil fuels are present in limited amount on the earth, The less availability of fossil fuels has increased their cost which has created a void in the energy market. So, this is a positive factor for the development for the biohybrid solar cell.
- Adverse effect of solar cell on environment
The increasing awareness among the buyers and market players about the adverse effect of other solar cell on environmental increase the demand of biohybrid solar cell. The biohybride cell reduce the carbon emissions to maintain temperature rise on earth. Also, the rise in the dependence on those energy which has produced by biohybrid solar cell witnessed positive impact on the market and are expected to drive the growth of the biohybrid solar cell market.
Moreover, rising usages of solar panel to meet the high demand of electricity, increasing preferences of clean energy output, reducing number of carbon emissions, rising applications of residential rooftop are some of the factors that will likely to enhance the growth of the biohybrid solar cell market in the forecast period of 2022-2029.
Opportunities
- Advancement in technology
The technological advancements for reducing the manufacturing cost of the biohybrid solar cell which will bring more opportunities for the major key leaders in upcoming period. Furthermore, improvement and development in infrastructure activities will further expand the growth of the biohybrid solar cell market during the forecast period of 2022-2029.
Moreover, increasing demand of solar panel to track maximum energy and power along with the prevalence of electricity at low costs will further boost various opportunities that will lead to the development of the biohybrid solar cell market.
Restraints/ Challenges
- High cost associated with biohybrid solar cell
High price of solar technology which is used for the production of biohybrid solar cell along with increasing cost of research and development are acting as restraints for biohybrid solar cell market in the above mentioned forecasted period.
- Lower productivity
The biohybrid solar cell's lower productivity due to other alternatives might hinder the growth of the biohybrid collar cell market globally during the forecast period of 2022-2029.
Furthermore, lack of electricity provision at night and seasonal dependency act as market restraints for biohybrid solar cell during the forecast period.
This biohybrid 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 the biohybrid 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.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Biohybrid Solar Cell Market
The COVID-19 had a negative impact on the biohybrid solar cell market due to the strict social distancing and lockdowns to contain the widespread of the corona virus. The partial shutdown of the business, economic uncertainty and low consumer confidence have impacted the biohybrid solar cell technology demand. The supply chain was hindered during this pandemic along with delayed logistics activities. However, the biohybrid solar cell market is anticipated to recover its pace during the post pandemic scenario.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Biohybrid Solar Cell Market Scope
The biohybrid solar cell market is segmented on the basis of material, application. The growth amongst these segments will help you analyze meagre 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.
Material
- Silicon Crystal
- Cadmium Telluride
- Gallium Arsenide
- Others
Application
- Battery Storage
- Solar Lighting
- Commercial
- Military and Aerospace
- Others
Biohybrid Solar Cell Market Regional Analysis/Insights
The biohybrid solar cell market is analysed and market size insights and trends are provided by country, material, application as referenced above.
The countries covered in the biohybrid solar cell market report 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, South Africa, Egypt, Israel, 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.
North America dominates the biohybrid solar cell market in terms of market share. This is due to the increasing applications of residential rooftop in this region.
Asia-Pacific is projected to be the fastest developing region during the forecast period of 2022-2029 due to the low cost of manufacturing. In this.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Biohybrid Solar Cell Market Share Analysis
The biohybrid 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 biohybrid solar cell market.
Some of the major players operating in the biohybrid solar cell market are:
- Greatcell (Australia)
- Exeger Operations AB (Sweden)
- Fujikura Europe Ltd. (U.K.)
- G24 Power Ltd. (U.K.)
- Konica Minolta Sensing Europe B.V. (Netherlands)
- Merck KGaA (Germany)
- Oxford PV (U.K.)
- Peccell Technologies, Inc. (Japan)
- Sharp Corporation (Japan)
- Solaronix SA (Switzerland)
- Sony Corporation (Japan)
- Ricoh (Japan)
- First Solar. (U.S.)
- SunPower Corporation (U.S.)
- Suniva Inc (U.S.)
- Tata Power Solar Systems Ltd. (India)
- SHARP CORPORATION (Japan)
- ALPS Technology Inc. (U.S.)
- Solaris Technology Industry, Inc. (India)
- GREEN BRILLIANCE RENEWABLE ENERGY LLP (India)
- Trina Solar (China)
- Canadian Solar. (Canada)
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