Global Printable Solar Cells Market to Reach Valuation of $40.67 Billion by 2028 | Automotive Sector Offer Lucrative Growth Opportunity
Global printable solar cells market was valued to be USD 28.15 billion in 2021, and it is expected to reach USD 40.67 billion by 2028 at a CAGR of 4.15% over the forecast period (2022-2028).
Westford, USA, Nov. 07, 2022 (GLOBE NEWSWIRE) -- As the world moves towards a more sustainable future, the demand for renewable energy sources is growing. Printable solar cells are used in a variety of applications, including portable electronics, building-integrated photovoltaics, and consumer electronics. The demand for printable solar cells market is growing as the technology becomes more advanced and more accessible. The benefits of these cells are that they are cheaper to produce than traditional silicon solar cells, and they can be printed on any surface. This means that they can be used in a variety of applications, from portable electronics to building-integrated photovoltaics.
Printable solar cells are made by depositing thin layers of semiconductor materials onto a substrate, such as glass or plastic. In line with this, the global printable solar cells market has been witnessing strong demand thanks to their several advantages over traditional methods of manufacturing solar cells. First, it is much cheaper and easier to scale up production of printable solar cells than it is to manufacture conventional solar cells. Second, printable solar cells can be made on flexible substrates, which opens up the possibility of using them in a wide variety of applications, including portable electronics and building-integrated photovoltaics (BIPV).
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Third, the use of flexible substrates also allows for the development of new types of devices that were not possible with conventional solar cell technologies in the printable solar cells market. For example, printed solar cells could be used to create smart windows that darken or lighten in response to the level of sunlight outside. Alternatively, they could be used in “solar clothing” that would power portable electronic devices like cell phones or MP3 players.
However, one of the challenges facing the commercialization of printable solar cells market is their efficiency. Current devices are only about 1% efficient at converting sunlight into electricity. However, research is ongoing to improve the efficiency of these devices, and it is expected that they will continue to become more efficient over time.
The report provides an overview of the global market and analyzes key trends that are shaping the industry. It also profiles leading companies in the space and outlines the competitive landscape.
Automotive Sector Offer Lucrative Growth Opportunity for Printable Solar Cells Market
SkyQuest has analyzed market and believes it has strong growth potential. The market is still in its early stages, but is expected to grow at a compound annual rate of over 4.3 % through 2022. This will be driven by continued technical improvements, declining costs, and increasing demand from a variety of end markets.
Our analysis of the global printable solar cells market indicates that printable solar cells could capture up to 10% of the global solar power market by 2030, making them a significant force in the transition to a low-carbon economy. The technology holds particular promise for rooftop and other distributed applications, where printable solar cells could enable more flexible and lower-cost installations than traditional silicon-based photovoltaic (PV) modules.
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The automotive sector is one of the largest potential for printable solar cells market. The report notes that electric vehicles are becoming increasingly popular, with sales expected to reach 6.8 million units by the end of 2022. Electric vehicles have a higher efficiency than gasoline-powered cars and produce zero emissions. Solar panels can be used to power electric vehicles, providing a clean and renewable source of energy.
We expect that vehicles will increasingly be equipped with solar panels to power accessories and provide supplemental charging for electric vehicles. Moreover, as autonomous driving becomes more prevalent, solar-powered cars will become more common, as they will not need conventional headlights or taillights.
The consumer electronics sector presents another significant opportunity for printable solar cells market. Portable devices such as laptops, TV remotes, and smartphones are increasingly being used outdoors, making them ideal candidates for solar charging. In addition, wearable devices such as fitness trackers and smartwatches are also well suited for solar power, as they are often used in activities where conventional charging.
Slot Dry Method to Remain Key Area of Concern for Players in Printable Solar Cells Market
Challenges in slot dry method: The slot-dye method is a popular method for printing solar cells, however there are some challenges that arise when using this method. One challenge is the fact that the solar cell must be very thin in order to be able to absorb all of the sunlight. This can be difficult to achieve with the slot-dye method in the printable solar cells market. Another challenge is ensuring that the solar cell is uniform and has no defects. The slot-dye method can sometimes result in non-uniform or defective solar cells. Finally, the slot-dye method can be expensive and time consuming.
Lack of standardization: There are no industry-wide standards for these cells, which makes it difficult for manufacturers to produce consistent products. This lack of standardization also makes it difficult for consumers to compare products and make informed choices about which product is best for their needs.
Efficiency: Printable solar cells are not as efficient as conventional silicon-based solar cells. The efficiency of these cells ranges from 3-8%, whereas that of silicon-based cells is about 15% in the printable solar cells market. This means that more printable solar cells are required to generate the same amount of power as a traditional solar cell.
Durability: Printable solar cells are also not as durable as their silicon-based counterparts. They tend to degrade over time and are not able to withstand extreme weather conditions like high temperatures or hail storms
Competition from traditional solar cell manufacturers: These companies have been making solar cells for many years and have well-established manufacturing processes and economies of scale in the printable solar cells market. They are also able to sell their products at a lower price than printable solar cell manufacturers. As a result, printable solar cell manufacturers need to find ways to differentiate their products in order to compete in the market.
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Top Players in Printable Solar Cells Market
Nanosolar Corporation (US)
InfinityPV ApS (Denmark)
E. I. du Pont de Nemours and Company (US)
Triton Solar LLC (US)
Solarmer Energy, Inc. (US)
Nanosys (US)
BrightSource Energy (US)
Miasolé (US)
First Solar (US)
Solopower Systems, Inc. (US)
Abound Solar (US)
SolarCity (US)
Global Solar Energy (US)
Sanyo (Japan)
Ascent Solar Technologies, Inc. (US)
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