Global Luminescent Solar Concentrator Cell (Lsc) Market, By Component (Plastic / Glass, Dye Molecules, Solar Cells, Cables, Frame, LSC Plates), End-User (National and Local Governments, Municipalities, Construction Companies/Consortiums), Application (Noise Barrier, Renewable Energy Generation, Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
Luminescent solar concentrator cell (Lsc) are gaining large attention in the area of research among different new generation photovoltaic technologies owing to their super power conversion efficiency. The renewable energy sector is increasing investment in the luminescent solar concentrator cell (Lsc).
Global Luminescent Solar Concentrator Cell (Lsc) Market was valued at USD 2.71 billion in 2021 and is expected to reach USD 21.07 billion by 2029, registering a CAGR of 29.20% during the forecast period of 2022-2029. Energy is expected to witness high growth in the technology segment owing to growth in population. 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
Luminescent solar concentrator cells are made up of luminescent materials which is used to occupy incoming light while available in wide frequency range in the form of light in a narrower frequency range. The main application of cells is to convert light energy into electricity.
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 Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Component (Plastic / Glass, Dye Molecules, Solar Cells, Cables, Frame, LSC Plates), End-User (National and Local Governments, Municipalities, Construction Companies/Consortiums), Application (Noise Barrier, Renewable Energy Generation, Others)
|
|
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
|
Johnson Brothers. (US), Zager Global, Inc. (US), Solar Made. (US), Ocean Solar. (India), and Mook Group of Companies (Canada), among others
|
|
Market Opportunities
|
|
Luminescent Solar Concentrator Cell (Lsc) 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
- Increase in Demand for Solar Cells
The rise in demand for solar cells due to their flexibility and light weight power acts as one of the major factors driving the luminescent solar concentrator cell (Lsc) market. Also, increase in the number of applications in various industries 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 perovskite 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 luminescent solar concentrator cell (Lsc) market.
Opportunities
Furthermore, rise in number of research and development activities extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, prevalence of alternative energy sources will further expand the market.
Restraints/Challenges
On the other hand, high cost associated with the production is expected to obstruct market growth. Also, fluctuations in the raw materials are projected to challenge the luminescent solar concentrator cell (Lsc) market in the forecast period of 2022-2029.
This luminescent solar concentrator cell (Lsc) 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 luminescent solar concentrator cell (Lsc) 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 Luminescent Solar Concentrator Cell (Lsc) Market
The COVID-19 had a negative impact on the luminescent solar concentrator cell (Lsc) 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 luminescent solar concentrator cell (Lsc) technology. The supply chain got hampered during the pandemic along with delay logistics activities. However, the luminescent solar concentrator cell (Lsc) market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Global Luminescent Solar Concentrator Cell (Lsc) Market Scope and Market Size
The luminescent solar concentrator cell (Lsc) market is segmented on the basis of component, application and end user. 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.
Component
- Plastic / Glass
- Dye Molecules
- Solar Cells
- Cables
- Frame
- LSC Plates
Application
- Noise Barrier
- Renewable Energy Generation
- Others
End User
- National and Local Governments
- Municipalities
- Construction Companies/Consortiums
Luminescent Solar Concentrator Cell (Lsc) Market Regional Analysis/Insights
The luminescent solar concentrator cell (Lsc) market is analysed and market size insights and trends are provided by country, of component, application and end user as referred above.
The countries covered in the luminescent solar concentrator cell (Lsc) 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.
Europe dominates the luminescent solar concentrator cell (Lsc) market because of the increase in the number of research and development activities within the region.
North America is expected to witness significant growth during the forecast period of 2022 to 2029 because of the prevalence of majority of market players 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 Luminescent Solar Concentrator Cell (Lsc) Market
The luminescent solar concentrator cell (Lsc) 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 luminescent solar concentrator cell (Lsc) market.
Some of the major players operating in luminescent solar concentrator cell (Lsc) market are
- Johnson Brothers. (US)
- Zager Global, Inc. (US)
- Solar Made. (US)
- Ocean Solar. (India)
- Mook Group of Companies (Canada)
SKU-