Next-generation solar cell market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2024-2031).The market growth is attributed to the increasing advancement in solar cell technologies and increasing investment in high-efficiency perovskite solar cells. According to the International Energy Agency (IEA), in July 2023, Global solar PV cell investments in capacity additions increased by over 20.0% in 2022 and surpassed $320.0 billion, marking another record year. Solar PV comprised almost 45.0% of total global electricity generation investment in 2022, triple the spending on all fossil fuel technologies collectively.
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The increasing adoption of Perovskite solar panels presents significant potential for the renewable energy shift. The advantages are indisputable, ranging from improving energy accessibility and stimulating economic growth to strengthening energy security and mitigating climate change.Perovskites' efficiency is increasing as a result of continuous R&D, which makes them a viable substitute for conventional energy sources. To ensure a steady and dependable supply of electricity from solar sources grid integration and energy storage technologies are needed.Perovskite materials provide superior lifetimes, charge-carrier mobilities, and light absorption, resulting in high device efficiencies and the potential to develop an affordable, industry-scalable technology.
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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Global Next-Generation Solar Cell Market Report Segment
By Material Type
Transceivers
Cadmium Telluride (CdTe)
Copper Indium Gallium Selenide (CIGS)
Amorphous Silicon (a-Si)
Gallium-Arsenide (GaAs)
Others (Dye-Sensitized Solar Cells, Perovskite Solar Cell)
By Installation
On-Grid
Off Grid
By End-Users
Residential
Commercial & Industrial
Utilities
Global Next-Generation Solar Cell Market Report Segment by Region
North America
United States
copyright
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East & Africa
The Report Covers
Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global next-generation solar cell market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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