Key Market Insights
"Increasing polymer solar cell projects will spur the market revenue growth"
The global polymer solar cells market accounted for US$ 50.4 Mn in 2018 and is anticipated to grow to US$ 234.6 Mn growing at a CAGR of 21.2% during the forecast period from 2019 to 2027.
The global polymer solar cells market is projected to grow robustly owing to rapidly growing electronics industry globally. A combination of factors including developing electrical and electronics industry, rapidly increasing demand for renewable sources of energy, increasing building and construction sector globally, and support from governments among others are proliferating the demand of the global polymer solar cells market. Apart from this, increasing trend to move towards clean and green energy coupled with expanding automobile and construction industry are enhancing the market growth of the industry. Additionally, enhancement in manufacturing techniques of polymer solar cells to reduce cost and enhance performance, focusing on development of new material to make photovoltaics a better alternative to traditional fuels are having a positive influence on the polymer solar cells market growth.
Additionally, rising investments in research and development to develop clean and sustainable source of energy is further boosting the market growth. The polymer solar cells offers a variety of benefits including disposable, lightweight, easy to fabricate and cost-efficient among others. However, these cells degrade during dark, have issues with thermal stability, and cannot be used for longer durations which are factors hindering the market growth.
Market Synopsis
Junction Type Analysis
"Bulk Heterojunction segment to dominate the market throughout the forecast period"
On the basis of junction type, the polymer solar cells market is further classified into single layer, bilayer, bulk heterojunction, multi-junction, and others. Bulk heterojunction segment dominated the polymer solar cells market and contributed for a revenue share of more than 25% of the global market. This can be attributed to the benefits offered by it including low weight, semitransparency, and easy integration with other products among others.
In contrast, multi-junction segment is projected to expand with highest growth rate throughout the years to come. This can be associated with the advantages provided by them including absorbing different wavelengths, high efficiency, and lower bandgap among others.
Application Analysis
"BIPV segment expected to dominate the market during the forecast period"
On the basis of application, the global polymer solar cells market is bifurcated into BIPV (building integrated photovoltaic), consumer electronics, automotive, defence & emergency, and others. The BIPV segment dominated the global polymer solar cells market and growing with the highest rate. The segment is expected to continue this trend during the forecast period and contributed XX% of revenue share. This can be attributed to favorable rules ®ulations to enhance renewable installations and increasing adoption of renewable energy sources among others
On the other hand, the BIPV segment is followed by consumer electronics segment and is expected to grow significantly during the years to come.
Regional Analysis
"Asia Pacific region dominated the global polymer solar cells market"
Asia Pacific region led the polymer solar cells market and represents US$ XX Bn in terms of market share and is anticipated to register a CAGR of XX% during the forecast period. This can be attributed to rapidly evolving building and construction sector in the developing nations such as China, and India among others. The rising per capita income coupled with rapid urbanization are factors propelling the polymer solar cells market growth in the region.
On the other hand, North America region is anticipated to grow with a significant rate owing to presence of large number of manufacturers in the region and increasing number of renewable energy projects in the region. The US holds the major share in the region accounting for approximately 80% of market share.
List of Companies Covered:
- Trina Solar Limited
- Tata Power Solar Systems Limited
- Solar World AG
- Jinko Solar Holding Co. Ltd
- Alps Technology Inc
- Suniva Inc
- Pionis Energy Technologies LLC
- Borg Inc.
- Heliatek GmbH
- Infinity PV ApS
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Junction Type Segment (2017–2027; US$ Bn):
• Single Layer
• Bilayer
• Bulk Heterojunction
• Multi-junction
• Others
|
|
Application Segment (2017–2027; US$ Bn):
• BIPV (Building Integrated Photovoltaic)
• Consumer Electronics
• Automotive
• Defence & Emergency
• Others
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, Russia, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall Polymer Solar Cells market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the polymer solar cells market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2027
- Which segment accounts for the fastest CAGR during the forecast period?
- Which application segment holds a larger market share and why?
- Are low and middle-income economies investing in the polymer solar cells market?
- Which is largest regional market for polymer solar cells?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
- Worldwide market value of the Polymer Solar Cells market in 2017 and 2018
- Which are the key trends driving the global polymer solar cells market growth?
- Who are the leading service providers in the polymer solar cells market worldwide?
