Organic Photovoltaics Market By Type (DSSC, P-N Heterojunction) By End User (Buildings, Power Generation, Consumer Products & Telecommunication, Lighting Systems) and Region - Global Forecast 2026
1st August 2018
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global organic photovoltaics market is estimated to value at around US$ 0.5 Bn in 2017, and is expected to register a CAGR of 12%. The report offers in-depth insights, revenue details, and other vital information regarding the global organic photovoltaics market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report also offers insightful and detailed information regarding the various key players operating in the global organic photovoltaics market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global organic photovoltaics market is segmented on the basis of type, application, and region.
Organic Photovoltaic (OPV) devices convert solar energy to electrical energy. It consists of one or more photoactive materials, which are sandwiched between two electrodes, and form a typical bilayer organic photovoltaic device.
Global Organic Photovoltaics Market Dynamics:
Organic photovoltaic (OPV) technology enables power generation at a lower cost than that from other power generation technologies. Increasing awareness related to electricity generation from renewable energy sources is also expected to result in rising demand for organic photovoltaics, as these products are more cost-effective, flexible, and can be applied or mounted to a wider range of surfaces.
Increasing awareness regarding the use of organic photovoltaics for various purposes such as BAPV (Building Applied Photovoltaics) systems, and BIPV (Building Integrated Photovoltaics) systems are some major factors expected to drive growth of the global organic photovoltaics market over the forecast period.
Rising demand for cost-effective and eco-friendly energy generation processes, coupled with favorable government regulations and investments are other factors expected to fuel growth of the target market.
Organic photovoltaic materials convert light into electrical power and have a flexible structure. In contrast to inorganic silicon based solar cells, organic photovoltaic film can resist a range of environmental conditions. These materials are finding use in a range of emerging applications owing to such properties. Some include mobile devices, consumer electronics, and wearable and portable devices, depending on energy requirements.
However, some product limitations and availability of alternatives are among other factors expected to restrain growth of the global organic photovoltaics market over the forecast period
Market analysis by type:
On the basis of type segmentation, the P-N heterojunction segment is expected to contribute major revenue share and is estimated to maintain its dominance over the forecast period, as it offers low cost per watt and mechanical properties of P-N heterojunction photovoltaic. The DSSC segment is estimated to register highest CAGR of over 12%
In addition, increasing environmental concerns due to rising carbon emissions, coupled with availability of dye sensitized solar cells at low cost are among factors expected to drive revenue growth of DSSC segment over the forecast period.
Market analysis by end user:
On the basis of application segmentation, the buildings segment is expected to contribute major revenue share of the market, and is expected to maintain its dominance over the forecast period. The consumer products & telecommunication segment is projected to register highest CAGR over 12% over the forecast period. Increasing demand for solar cell chargers due to properties such as environment-friendly and low maintenance costs as compared to conventional energy chargers is expected to support revenue growth of the segment. Introduction of consumer products such as sunglasses, backpacks, clothing, and shoes with ability to charge gadgets/devices is open up revenue opportunities for existing as well as new entrants in the market.
In addition, increasing adoption of solar technology in street lights, commercial quality lighting systems, parking lots, and security lighting is projected to propel growth of lighting systems segment over the forecast period. Moreover, growing demand for PV systems combined with battery storage facilities in providing lighting for billboards, public-use facilities, highway information signs, and lighting inside trains are expected to augment segment growth.
Analysis by Region:
The market in China accounted for significant revenue share in the global organic photovoltaics market in 2017. This can be attributed to increasing investments on construction activities in public and private sectors in the country, coupled with presence of various major manufacturers of organic photovoltaics in the country are among the key factors expected to drive growth of the organic photovoltaics market in China over the forecast period. Governments initiatives to promote use of renewable energy resources owing to increasing pollution levels as a result of using coal and fossil fuels in power generation plants is expected to drive growth of the overall renewable energy resources market, and in turn boost growth of the organic photovoltaics market in the country.
The market in Europe accounts for significant revenue share in the global organic photovoltaics market. Demand for organic photovoltaics has been increasing significantly from residential and commercial sectors for exteriors & renovation applications owing to properties such as better aesthetics and appearance and design, light weight, cost-effectiveness, and low environmental impact, which are major factors expected to drive growth of the Europe market over the forecast period. Rapid growth in the commercial construction sector, coupled with increasing initiatives from major market players for development of energy-efficient organic photovoltaics systems are some other factors expected to increase adoption of organic photovoltaics in the countries in region. Government initiatives to promote utilization of renewable energy resources owing to depletion of fossil fuels is also expected to drive growth of the global renewable energy market, and in turn boost growth of the Europe organic photovoltaics market.
The US market accounts for another significant revenue share in the global organic photovoltaics market. The US organic photovoltaics market is expected to register a highest CAGR of over 11% during the forecast period. Increasing spending on infrastructure and rising demand for organic photovoltaics from the construction sector, owing to its low installation cost and various other advantages over limited and non-renewable power generation resources are major factors driving growth of the US organic photovoltaics market. Organic photovoltaics have enhanced material properties and are cost-effective. This is expected to result in increasing demand for these products for a range of commercial and industrial applications.
Rapid urbanization and increasing initiatives by the government towards electrification of sub-urban and rural areas using renewable resources is another factor expected to drive growth of the US organic photovoltaics market to a significant extent.
Increasing initiatives by various manufacturers for development of new and unique designs of organic photovoltaic film, coupled with increasing new infrastructure development activities in public and private sectors in the US are other major factors expected to drive growth of the US organic photovoltaics market over the forecast period.
Global Organic Photovoltaics Market segmentation:
Segmentation on the basis of type:
- P-N Heterojunction
Segmentation on the basis of application:
- Power Generation
- Consumer Products & Telecommunication
- Lighting Systems
Segmentation on the basis of region:
- Southeast Asia
- South America
- South Africa
- Rest of the World
- Armor SA
- BELECTRIC Solar & Battery GmbH (Innogy SE)
- AGC Inc.
- Mitsubishi Chemical Holdings Corporation
- Heliatek GmbH
- Henkel AG & Co. KGaA
- Solarmer Energy, Inc.
- Centre Suisse d'Electronique et de Microtechnique SA (CSEM SA)
- Sumitomo Chemical Co. Limited
- Toshiba Corporation
- Heraeus Holding GmbH
- BASF SE
- EMD Performance Materials (Merck KGaA)
- 1 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Type
- 2.2.2 Market Snapshot, By Application
- 2.2.5 Market Snapshot, By Region/Country
- 2.2.6 Prudour Opportunity Map Analysis
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