The global market for dye-sensitized solar cells is projected to reach USD 1.02 billion by 2028. The DSSC market has grown at a CAGR of more than 18% from 2012 to 2016 and it is expected to grow at the same rate over the forecast period from 2021 to 2028.
A dye-sensitized solar cell (DSSC) is a type of photovoltaic device that uses the photoelectric effect to convert sunlight into electricity. In this process, electrons are excited from an energy level corresponding to their binding energy in one material (typically TiO) and transferred by external light radiation to another material where they recombine with holes at a lower level and emit visible photons. The difference between the initial electron's binding energies corresponds directly with the electric potential created when these two materials are connected together in series or parallel circuits. DSSCs have been commercially available since 1991.
On the basis of type, the global dye-sensitized solar cells market is segmented into portable charging, BIPV/BAPV, embedded electronics, and others.
Portable Charging in dye-sensitized solar cells is a process where it converts the power of light to electricity. It is used for charging smartphones and other portable devices without having to plug them into an outlet or cable, which are usually limited by their battery life.
The energy from sunlight can be converted into electric current through the photoelectric effect, which means conversion between electromagnetic radiation and electrical charge. The use of semiconductor materials causes electrons will move quickly under light illumination, releasing free particles called photons with enough momentum (energy) to knock out another electron from metal atoms nearby. In the chemical reaction of photosynthesis, plants convert carbon dioxide CO₂ and water H₄O using solar energy-absorbing chlorophyll molecules, producing oxygen O₂ and storing the energy in carbohydrate molecules.
BIPV and BAPV cells are based on the solar dye-sensitized nanotechnology (DSNT) that have been developed in the late 1980s. The efficiency of these cells is still less than one-tenth of other types, but its potential for mass production could make it more competitive as a mainstream solar cell technology.
Embedded electronics in dye-sensitized solar cells are used for powering small electronic devices. The growing demand from the military sector is driving the market of embedded electronics globally and increasing their penetration across various applications. In addition, a significant number of mobile phones require battery charging on daily basis and this has further accelerated the application growth opportunity for embedded electronics in DSSCs.
On the basis of application, the global dye-sensitized solar cells market is segmented into electronics, building, and construction, automotive, military, others.
The increasing penetration of dye-sensitized solar cells in electronics is primarily due to the decrease in battery life. The usage of this type of technology can help reduce consumption and minimize the need for frequent charging, thus easing power management issues as well. One example is that DSSCs are being used to replace batteries in a variety of applications such as watches, calculators, electric toothbrushes, MP players/phones, etc., which has led to increased demand from customers for products with similar features at reasonable prices.
The application of dye-sensitized solar cells in building and construction is majorly for powering the load attached to them. These cells are required as a complementary power source for off-grid or remote places where there is no access to the continuous supply of electricity from the main grid connection, which may be due to geographical location constraints or economic reasons.
The application of DSSC in the automotive sector is to provide power backup for the vehicles. The requirement of battery charging on daily basis has accelerated the market growth, and a significant number of mobile phones also require battery charging.
The military segment is the fastest-growing application of dye-sensitized solar cells globally. The use of this technology in various applications such as camouflage, unmanned aerial systems, and other defense mechanisms has driven its demand among users. In addition, the military sector has also been using DSSCs to power small electronic devices used for surveillance purposes. These factors are anticipated to drive growth potential over the forecast period due to their robust performance with low maintenance requirements.
On the basis of region, the dye-sensitized solar cells market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America holds the major share of this market due to its widespread adoption in various applications such as manufacturing facilities with strict power requirements and portable electronics.
The dye-sensitized solar cells sector is on an upward trend over the forecast period owing to their low operational cost coupled with high-efficiency ratings. The global demand for these products has been increasing significantly since last few years due to factors like declining prices of raw materials particularly ruthenium which is used for fabricating DSSCs; rising awareness about environment protection through renewable sources; benefits associated with using them without any risk from hazardous chemicals or noise pollution; increased investments by government agencies into research-related initiatives.
* Increasing electrical prices and government incentives for alternative power sources
* Decreasing the cost of solar modules in the future as well, which is expected to be at a level that will make them competitive with other energy generation resources.
Up Market Research published a new report titled “Dye Sensitized Solar Cells Market research report which is segmented by Types (Portable Charging, BIPV/BAPV, Embedded Electronics), By Applications (Electronics, Building And Construction, Automotive, Military, Others), By Players/Companies Dyesol, Solaronix, G24 Innovation, Solaris Nanosciences, CSIRO, EXEGER Sweden, 3G Solar Photovoltaics, G24 Power, Merck, Konica Minolta Sensing”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Dye Sensitized Solar Cells Market Research Report|
|By Type||Portable Charging, BIPV/BAPV, Embedded Electronics|
|By Application||Electronics, Building And Construction, Automotive, Military, Others|
|By Companies||Dyesol, Solaronix, G24 Innovation, Solaris Nanosciences, CSIRO, EXEGER Sweden, 3G Solar Photovoltaics, G24 Power, Merck, Konica Minolta Sensing|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||221|
|Number of Tables & Figures||155|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Portable Charging, BIPV/BAPV, Embedded Electronics and By Application Electronics, Building And Construction, Automotive, Military, Others.
Some of the companies that are profiled in this report are:
Dye Sensitized Solar Cells Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Dye Sensitized Solar Cells Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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