Dye-Sensitized Solar Cells Market: Competitive Landscape & Impact Analysis Of Drivers On Market Forecast By 2024

A dye-sensitized solar cell is a low-cost thin-film solar cell composed of electrodes (cathode and anode), an electrolyte, and a dye. Dye-sensitized solar cells can perform dual functions: power generation via incident light and aesthetic improvement of buildings and installation surfaces.The dye-sensitized solar cells market is bifurcated on basis of application into portable charging, BIPVs, BAPVs, embedded electronics, outdoor advertising, solar chargers, wireless keyboards, emergency power in military, AIPVS, and others (light intensity meters and consumer appliances).

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Globally, Europe held the largest market share, in terms of value, in the dye-sensitized solar cells market, in 2017. The region held a share of over 35.0% in terms of value, in 2017. Additionally, the market will exhibit the fastest growth in the APAC region, advancing at a CAGR of 14.0% during the forecast period. This growth is likely to be exhibited due to increased adoption rates of these cells in portable chargers, BIPVs and BAPVs, this in turn, is likely to advance the market in the region.

The worldwide demand for clean and sustainable power is increasingly finding footholds in the energy dynamics due to growing concern for energy security, carbon emissions, and rising global weather abnormalities. This is earmarked by a shift in energy portfolios from dependence on fossil fuels to renewable sources of power, majorly solar energy. Dye-sensitized solar cells can play a major role in steering the demand for solar energy in the future with increased application in building envelopes, such as façades, rooftops, tiles, and ceilings.

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The introduction of government policies, such as and feed-in tariff, tax credits, and subsidies have enabled solar power generated electricity reach price parity with power generation using traditional energy sources, such as fossil fuels. Additional measures such as competitive bidding is supporting the adoption of solar panels and scaling up deployment of PVs across the world. These policies are also expected to drive the demand for these cells, thereby supporting the growth of dye-sensitized solar cells market at the global level.

Some of the major players operating in the global dye-sensitized solar cells market are 3GSolar Photovoltaics Ltd., Greatcell Solar Ltd., Fujikura Europe Ltd., Exeger Operations AB, Konica Minolta Inc., Merck KGaA, Peccell Technologies Inc., Solaronix SA, G24 Power Ltd., and H.Glass.

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