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
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
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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 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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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, 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.
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Market Players Covered
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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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Market Opportunities
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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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