Dye-sensitized Solar Cell Market (Applications - Portable Charging, Building-integrated Photovoltaics [BIPVs], Embedded Electronics, Automotive-integrated Photovoltaics [AIPVs], and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the dye-sensitized solar cell market provides an in-depth analysis of segments and sub-segments in the global and regional dye-sensitized solar cell market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional dye-sensitized solar cell market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global dye-sensitized solar cell market. According to the report, the global dye-sensitized solar cell market is projected to grow at a CAGR of more than 12% over the forecast period of 2022-2028.

Market Insight

The dye-sensitized solar cell market was valued at USD about 130 million in 2022 and is expected to reach USD over 260 million in 2028, with a CAGR of more than 12% during the forecast period. Dye-sensitized cells are another name for dye-sensitized solar cells. They are the third-generation photovoltaic (solar) cell that can produce electricity from any form of visible light. The semi-transparent, semi-flexible dye-sensitized solar cell is simple to make using conventional roll-printing procedures and enables a variety of uses that are not possible with rigid photovoltaic systems. The main benefit of dye-sensitized solar cells is that they are more efficient than current conventional solar technology, absorbing more light per square inch of surface area than conventional silicon-based solar panels. Furthermore, these are a desirable upgrades over existing technologies in low-density applications like rooftop solar collectors. Increasing awareness regarding the adverse environmental impacts of energy plants is influencing the growth of the market during the forecast period.

As the use of photovoltaic electric power generation has expanded to include urban life in the form of building-integrated photovoltaics or electronics-integrated photovoltaics, the demand for lightweight, extremely flexible solar cells has developed quickly. The dye-sensitized solar cell market is expanding as a result of dye-sensitized solar cells' ability to function in low-light situations including indirect sunlight and overcast skies. Additionally, technical advancements have produced products with a favorable price-to-performance ratio and are anticipated to have a positive effect on industrial growth. However, the use of liquid electrolytes in dye-sensitized cell design has significant disadvantages due to temperature stability issues, which hinder the market's expansion throughout the projection period. The fabric itself, which contains the electrolyte and acts as a spacer to prevent electrical short circuits from forming between the electrodes, is another element that could influence the photovoltaic performance of the textile-based DSSC. Additionally, increasing demand for renewable sources of energy, like solar energy, will create growth opportunities for market growth during the forecast period. However, the high cost of the sensitizers is projected to hamper the market growth. Moreover, issues with toxicity and sealing in the liquid electrolyte are expected to restrain the market growth during the forecast period.

Continual lockdowns caused by the COVID-19 outbreak and the ensuing global economic recession have hampered the expansion of the dye-sensitized solar cell sector. Through supply chains, dye-sensitized solar cell solutions experienced the most substantial short-term impact. Nevertheless, the business is anticipated to pick up steam over the forecast period after the pandemic as limitations start to loosen. The COVID-19 pandemic outbreak has had a negative effect on this industry's whole value chain.

The dye-sensitized solar cell market was controlled by geographic regions in Europe. High demand in the Asia Pacific region is a result of rising disposable income in nations like China and India. The Asia Pacific is also predicted to experience the fastest growth in the next years. In the upcoming years, Europe and North America are anticipated to be important markets for dye-sensitized solar cells, driven by various governments and environmental programs. It is anticipated that the 2020 European Commission's goal to lessen reliance on fossil fuels and support clean and green energy technologies will have a favorable impact on the market expansion. Additionally, the U.S. is seeing an increase in the share of renewable energy in the nation's overall energy demand, which bodes well for the future expansion of the product market. The market for dye-sensitized solar cells is anticipated to experience tremendous growth potential from all over the world over the next ten years as the trend of sustainable power production expands its sphere.

Segment Covered

The report on the global dye-sensitized solar cell market covers segments such as applications. On the basis of applications, the sub-markets include portable charging, building-integrated photovoltaics [BIPVs], embedded electronics, automotive-integrated photovoltaics [AIPVs], and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Sharp Corporation, Peccell Technologies, Inc., Oxford Photovoltaics, G24 Power Ltd., Fujikura Ltd., Ricoh, Solaronix, and Dyenamo AB.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the dye-sensitized solar cell market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.