The global dye-sensitized solar cells market is forecasted to grow at a robust pace during the forecast period (2016 – 2022) due to the increasing consumer awareness toward adverse environmental impact associated with fossil fuel-based power plants, rising adoption of renewable energy sources and technological advancements resulting in lower cost of production.
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In terms of application, the global dye-sensitized solar cells market has been categorized into portable charging, Building Integrated Photovoltaics (BIPV), Building Applied Photovoltaics (BAPV), embedded electronics, outdoor advertising and Automotive Integrated Photovoltaics (AIPV). BIPV and BAPV are expected to witness significant growth, during the forecast period, on account of increasing electricity demand in residential areas for water heating and roof-top panels.
Major companies operating in the market have shifted their focus to research and development activities to develop solar cells that have improved efficiency levels and performance. The development of perovskite solar cells in the recent years has witnessed significant potential in the global dye-sensitized solar cells market.
Europe led the global dye-sensitized solar cells market, in terms of value, in 2015, on account of increasing government focus on reducing reliance on fossil fuels and promoting clean energy projects, rising technological innovations and high penetration rate of DSSC in portable electronic and BIPV applications.
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The key players operating in the global dye-sensitized solar cells market are 3GSolar Photovoltaics, Dyesol, Exeger Sweden AB, Fujikura Ltd., G24i Power Ltd., Konica Minolta Sensing Europe B.V., Merck KGaA, Oxford Photovoltaics and Peccell Technologies, Inc.
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