According to the recent study the perovskite solar cell market is projected to reach an estimated $2.02 billion by 2028 from $0.37 billion in 2023, at a CAGR of 40% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for low-cost and lightweight solar cells, supportive government policies, growing environmental concerns about carbon emission reduction, and rising penetration of solar power in the residential sector.

A more than 150 – page report is developed to understand trends, opportunities and forecast in perovskite solar cell market by type (hybrid perovskite solar cells and multi-junction perovskite solar cells), product (rigid perovskite solar cells and flexible perovskite solar cells), application (smart glasses, solar panels, building-integrated photovoltaics, and others), end use industry (aerospace & defense, industrial, commercial, residential, and utility), and region (North America, Europe, Asia Pacific, and the Rest of the World).

“Solar panel market is expected to remain the largest segment during the forecast period.”

Based on application, the perovskite solar cell market is segmented into smart glasses, solar panels, building-integrated photovoltaics, and others. Lucintel forecasts that the solar panel market is expected to remain the largest segment due to the increasing usage of solar power to produce electricity across the globe.

“Within the perovskite solar cell market, the residential segment is expected to remain the largest end use industry”

Based on end use industry the residential segment is expected to witness the highest growth over the forecast period due to the increasing use of perovskite solar cell-based PV systems on the rooftop where adequate sunlight is available to meet the electric needs of the home.

“Asia pacific will dominate the perovskite solar cell market in near future”

APAC is expected to witness highest growth over the forecast period due to the presence of key players and escalating need for alternative energy in order to reduce the consumption of fossil fuels as a result of rising urbanisation in the region.

Major players of perovskite solar cell market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Hanwha Q Cells, CubicPV, EneCoat Technologies, Microquanta Semiconductor, Greatcell Energy, Oxford PV, P3C, PEROVSKIA SOLAR AG, and Saule Technologies are among the major perovskite solar cell providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com