Axial Flow Pump Market: How the Business Will Grow in 2026? Prominent Players: WonderSolar, Tandem PV, Swift Solar, Solliance, Solaronix SA, Sekisui, Panasonic, Toshiba, Saule Technologies, Oxford PV, Microquanta Semiconductor, Frontier Energy Solution, a

The global perovskite solar cell market size is poised for steady expansion as renewable energy production exhibits an encouraging growth trajectory. According the annual Renewable Capacity Statistics 2019 released by the International Renewable Energy Agency (IRENA), in 2018, 171 gigawatts of renewable energy capacity was added worldwide. More significantly, 84% of this addition was contributed by solar and wind energy. Projections made by the International Energy Agency (IEA) are even more tantalizing. The IEA estimates that renewable energy production will rise by 50% between 2019 and 2024, with solar accounting for 60% of this rise. Moreover, rooftop solar PVs in residential structures would double from the current levels to reach 100 million by 2024, with Australia, Belgium, California, the Netherlands, and Austria leading the charge. Furthermore, the IEA expects solar cells costs to drop between 15% and 35% by 2024, thereby spurring their uptake in urban areas

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Through its report, titled “Perovskite Solar Cell Market Size, Share & Industry Analysis, By Installation (Roof-Mount, Ground Mount, Portable, Other), By Application (Residential, Commercial, Industrial, Automotive, Defense, Others) and Regional Forecast, 2019-2026”, Fortune Business Insights™ has shared vital market information in the form of:

360-degree analysis of the factors driving the size and share of the market;

Exhaustive study of the market segments;

In-depth research of the restraints impeding the growth of the market;

Comprehensive evaluation of the regional and competitive developments in the market.

Growing Urban Population to Prove Lucrative for the Market

One of the leading perovskite solar cell market trends is the proliferation of urban areas around the world and the parallel rise in urban population. According to the UN Department of Economic and Social Affairs (UN DESA), currently, around 55% of the global population lives in urban areas. By 2050, this number is projected to spike to 68%, with 90% of this rise taking place in Asia and Africa. The perovskite solar cell market stands to gain from this development as these solar cells boast of a host of advantages, making them ideal for installation in residential spaces. For instance, since perovskite cells can absorb lights of different wavelengths, it can convert larger amounts of sunlight into electricity. Moreover, they are flexible and lightweight, making them an attractive energy-efficient option in urban spaces.

Industry Developments:

August 2019: Oxford PV, the UK-based perovskite specialist company, purchased the first solar cell manufacturing equipment from Meyer Burger, the Swiss engineering company. Through this purchase, Oxford PV intends to develop a perovskite special production line with 250 MW capacity by the end of 2020.
February 2019: A commercial production line of inkjet-printed perovskite solar cells was officially launched by Saule Technologies on a pilot basis. The company aims to build 180,000 square meters of solar panels as 2020 ends.

Market Segmentation:

By Installation
By Application
By Geography

Top Players Profiled in the Perovskite Solar Cell Market Report:

Energy Materials Corp
Microquanta Semiconductor
Saule Technologies
Panasonic
Solaronix SA
Swift Solar
WonderSolar
Frontier Energy Solution
Oxford PV
Toshiba
Sekisui
Solliance
Tandem PV

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Government-funded R&D Activities to Aid Regional Development of the Market

Asia-Pacific is anticipated to dictate the perovskite solar cell market share owing to the increasing investment into renewable energy sources by India and China. In North America, the US is leading the market with increased funding for research and development of alternate sources of energy. Market players in North America are looking for ways to simplify the manufacturing process of these solar cells and bringing down their costs even more. The solar industry in Europe is flourishing as countries such as Germany and France are aggressively cutting down their carbon emissions through clean energy initiatives. Lastly, Africa is presenting promising prospects as the continent receives concentrated sunlight for majority part of a year.

Excellent Innovation Opportunities Await Market Players

Serious contenders in this market are adopting various strategies to solidify their position. Some of the most favored strategies include focused attention on enhancing R&D capacity, launch of innovative products, and expansion of geographic presence.

Regional Analysis:

North America (The USA and Canada)
Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Brazil, Mexico and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Major Table of Content for Perovskite Solar Cell Market:

Introduction
Executive Summary
Market Dynamics
Key Insights
Global Market Analysis, Insights and Forecast, 2026
North America Perovskite Solar Cell Market Analysis, Insights and Forecast, 2026
Europe Market Analysis, Insights and Forecast, 2026
Asia Pacific Market Analysis, Insights and Forecast, 2026
Middle East and Africa Market Analysis, Insights and Forecast, 2026
Latin America Market Analysis, Insights and Forecast, 2026
Competitive Landscape
Company Profile
Conclusion

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