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Space Solar Cells Market Outlook on Key Growth Trends, Factors and Forecast 2032

03-16-2023 07:07 PM CET | Energy & Environment

Press release from: Analytics Market Research

Space Solar Cells Market Outlook on Key Growth Trends, Factors

The global Space Solar Cells r market size was valued at $425.7 million in 2020, and is expected to reach $902.2 million by 2030, registering a CAGR of 7.8% from 2021 to 2030

Solar energy that is harvested from space and sent to a receiving station on earth using solar power satellites is known as space-based solar energy. Applications like electricity production and space applications use this solar energy from space. Satellites, spacecraft, rovers, and space infrastructure all use space-based solar power in some capacity. Its main advantage is that it captures more solar energy than solar power plants that are built on the ground.

Global investments in sustainable power generation and the adoption of strict environmental rules are what are fueling the market for space-based solar power. The main barriers to the expansion of the global market for space-based solar power, however, are their high cost and a few drawbacks. In contrast, it is projected that in the next years, R&D aimed at reducing the cost of space solar missions by advancing technologies would offer profitable growth prospects for the main players to solidify their position in the global market for space-based solar power.

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The solar satellite type, application, and region segments make up the global market for space-based solar electricity. The market is divided into solar satellites that transmit lasers and microwaves, respectively, based on the type of solar satellite. It is divided into two categories, power generating and space applications. It is examined from the perspectives of North America, Europe, Asia-Pacific, and LAMEA.

Solar Space Technologies, Space Canada Corporation, and DHV Technology are further participants in the value chain.

The market for space-based solar power is examined in the report, along with growth prospects and regional analysis-based restraints. In order to ascertain the effects of suppliers, rivals, new entrants, substitutes, and customers on the market growth, the study covers Porter's five forces analysis of the industry.

Global space-based solar power market, by solar satellite type

The market for space-based solar power increased due to applications such as powering satellites during eclipses, orbital transfer vehicles, a solar array on the moon, and electricity generation. By solar satellite type, the laser transmitting solar satellite segment held the largest market share in the world in 2020.

Global space-based solar power market, by application

In terms of market share, the electricity generation category dominated the global market for space-based solar power in 2020. The increase in energy demand and cleaner electricity production around the world are credited with this trend. In addition, it is anticipated that the market will expand over the studied timeframe due to an increase in demand for power generation from an economic growth standpoint.

Market Segmentation

Global Space Solar Cells Market: Segmentations

Global Space Solar Cells Market: By Types
Triple Junction Solar Cell
Quadruple Junction Solar Cell

Global Space Solar Cells Market: By Applications
Large Spacecraft
Small Spacecraft

Global Space Solar Cells Market: Major Players
Bharat Heavy Electricals Limited
Azur Space
SolAero Technologies
Jinko Solar

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Global Space Solar Cells Market: By Regions
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

Objectives of the Study:

• To provide with an exhaustive analysis on the Space Solar Cells Market by Product, By Application, By End User and by Region.

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

• To evaluate and forecast micro-markets and the overall market

• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions

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Phone: +1(650)-666-4592

About Us

Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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