Dye-Sensitized Solar Cells Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Dye-Sensitized Solar Cells Market: Snapshot
Over the past few decades, dye-sensitized solar cells (DSSCs) have gained immense research attention owing to the relentless urge to develop better photovoltaic (PV) cells. The performance criteria, such as solar-to-electric conversion ratio, toxicity, thermal stability of the system, and long-term stability have attracted increased attention. Aside from that, renewable sector players have been keenly looking for reduce the cost of production of this category of thin-film solar cells, thereby fueling the prospects of development in the DSC market.
The dye-sensitized solar cells (DSSCs) market has witnessed a robust impetus from a steady push of the energy sector toward adoption of sustainable energy forms in decarbonizing the economies of countries worldwide. A large deal of the trend has been underpinned by the growing shortage of fossil fuel shortage, fluctuations in crude oil prices, and the shift from conventional energy sources to fossil-free sources. A number of companies in the oil and gas sector has climbed on the bandwagon to set up plants to produce massive amounts of solar energy by the end of the decade. All these factors have spurred development of low-cost PV cells, boosting the DSSCs market.
Over the past few years, proponents of renewable energy generation have focused on replacement of current array of DSSC materials. Long-term stability of these materials is one of the key criteria. Electroactive polymers have been extensively researched for developing a robust architecture of DSSCs. New materials for solar energy harvesting have been found that promise higher performance of the DSSC module, especially with respect to Si module. In this regard, photofunctional metal complexes have earned recent interest. Advances in nanomaterials and new developments in the composite chemistries will expand the avenue for players in the dye-sensitized solar cells (DSSCs) market.
Global Dye-Sensitized Solar Cells Market: Overview
Globally, the demand for dye-sensitized solar cells has increased at a rapid rate due to the material used in it and it s form of energy and is photoelectrical system where, a semiconductor is formed between photo-sensitized anode and electrolyte. Moreover, rising awareness among consumers about the negative environmental impacts of fossil fuels is likely to contribute in the growth of dye-sensitized solar cells market in the coming years.
Adding further, growing use of advanced dye-sensitized solar cells that are capable of out doing solar cell panels have also boosted growth in the global dye-sensitized solar cells market. Growing demand for dye-sensitized solar cells in new buildings integrated with advanced technology and photovoltaic system is also projected fuel growth in this market. Along with the market driver, various regional aspects, ongoing trends, competition analysis, and few challenges together builds the market more competitive and enhances its prospects of growth. With all these information, key market participants will be able to take better and well-informed decisions to establish themselves in a much better way.
Global Dye-Sensitized Solar Cells Market: Notable Developments
Some of the recent developments taking place in the global customer micro grids market include:
Some of the most prominent competitors operating in the competitive landscape of global dye-sensitized solar cells market include –
Global Dye-Sensitized Solar Cells Market: Trends and Opportunities
Increasing concerns related to carbon footprint has further boosted growth in the global dye-sensitized solar cells market. Manufacturers operating in the global dye-sensitized solar cells market are concentrating on indoor or portable applications; this is likely to explore new growth opportunities in major application of dye-sensitized solar cells in outdoor advertising, electronics, automotive, steel roofing, and bus shelters. All these factors along with many other will boost growth in this market in the forthcoming years. Ongoing research on these cells is majorly been focused on modification or overhaul of their structure, development of new raw materials, and commercial application of research findings
Asia Pacific Offering Lucrative Growth Opportunities for Dye-Sensitized Solar Cells
With respect to geography, Europe is expected to lead the global dye-sensitized solar cells market over the forecast period. Increasing efforts made by the European Commission to reduce reliance on fossil fuels and spread awareness about the clean energy projects has made Europe lead the global dye-sensitized solar cells market. Moreover, introduction of new and advanced technologies and its implementation in portable electronics and BIPV is also projected to drive demand for dye-sensitized solar cells in this market.
Other regions including Asia Pacific, Latin America, North America, and the Middle East and Africa are also analyzed in this report. Of these, Asia Pacific is expected to hold larger share in the market in the forthcoming years. Increasing demand for these cells in portable chargers, BAPVs is the key factors surging demand in Asia Pacific dye-sensitized solar cells market.
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