Global Dye-sensitized
solar cells (DSSC) market is segmented on the basis of application and
geography. Dye-sensitized solar cells (DSSC) are reliable alternative option to
current p-n junction photovoltaic devices with enhanced technical and economic
characteristics. Dye-sensitized solar cells witness a trajectory path in the
forecast period owing to traditional solar cells produced by silicon materials
as they are thinner, flexible, less expensive and more adjusting to varying
lighting conditions.
Due to the rising demand for
energy and depleting conventional energy resources, investment is inclined
towards renewable resources.The solar industries manufacture and installation
of dye sensitized product is anticipated to reach its stage of maturity and
hence due to the growth in techno-economical characteristics reinforced by the
need to generate energy from non-conventional resources, dye-sensitized solar
cells (DSSC) market is anticipated to grow during the forecast period.
Reduction in costs of production
and installation is one of the key growth drivers for dye-sensitized solar
cells market. Owing to their better physical and optical properties such as
simplicity in fabrication, transparency and color, workability in low-light
conditions (non-direct sunlight and gray skies), dye sensitized solar cells are
becoming prominent among the end-users.
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With regards to energy conversion
efficiency, dye-sensitized solar cells possess high efficacy which makes their
commercialization significantly opportunistic over the coming years.Even though
the preparation of dyesensitized solar cells being economically viable, the
cost of raw materials for producing dye sensitized solar cells such as
ruthenium, platinum, etc. remains a key challenge for dye sensitized solar cell
manufacturers.
The electrolyte solvents used in
dye-sensitized solar cells are highly volatile as well as harmful to human
beings and require to be carefully sealed. The dye-sensitized solar cells
(DSSC)market players are focused in development of products which can be proven
efficient and eco-friendly alternatives to such electrolytes.
On the basis of application, the
dye-sensitized solar cells (DSSC) market is segmented into electronics
(secondary lithium battery, biosensors, electro-chromic displays, portable
chargers, awnings pop smart labels etc.), building and construction (building
integrated photovoltaic, building applied photovoltaic etc.), automotive (smart
cars incorporated with parking guidance systems, automotive integrated
photovoltaic etc.), military and so on.
On the basis of geography, the
dye-sensitized solar cells (DSSC) market is segmented into Europe, Latin
America, Asia Pacific, North America and Middle East & Africa.Europe and
North America are expected to be key markets for dye-sensitized solar cells in
the coming years. Ratification of Paris Agreement on Climate Change by major
countries across the globe is also expected to push the demand for
dye-sensitized solar cells in the short and long run.
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In developing countries such as
India, where energy demand potential is high as well as increasing,
Government’s special budget allocation to develop solar energy power plants is
further expected to create demand for dye-sensitized solar cells. In U.S. also,
contribution of renewable energy in country’s overall energy demand is rising,
providing a promising future for product’s market growth. With trend of
sustainable power development spreading its arena across the globe, demand for
dye-sensitized solar cells is expected to experience significant growth
potential from all across the globe in the coming years.
The global key players of
dye-sensitized solar cells (DSSC) market are 3GSolar Photovoltaics Ltd, Dyesol
Limited, Exeger Sweden AB, Fujikura Ltd., G24 Power Ltd., Solaris Nanosciences
Corporation, Konica Minolta Sensing, Europe B.V., Solaronix SA, Ricoh Company
Ltd., and National Institute for Materials Science (NIMS), and Merck KGaA.
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