Organic Solar Cells make use of organic, mostly carbon-compound based, materials instead of silicon, which is used in conventional solar cells. Although conventional silicon-based solar cells are currently the dominant type of solar cells in the market, the latest advances in molecular engineering and nanotechnology have uncovered several potential advantages of Organic Solar Cells. These advantages of organic solar cells are expected to outbalance those of silicon-based cells and the global market for solar cells is expected to significantly grow in the near future.
The report segments the global organic solar cell market on the basis of two criteria: application and geography.
On the basis of application, the market has been segmented into building integrated photovoltaics, conventional solar applications, mobile applications, and defense or military based applications. Presently, the majority of usage of organic solar cells is observed in the segment of building integrated photovoltaic applications. Organic solar cells also find use across defense applications such as skins on military equipment. In vehicles, organic solar cells are used for powering portable electrical systems such as stereos.
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The research report states that like most of the markets concerned with renewable power generation technologies, especially solar power, the global market for organic solar cells will also expand at an exponential growth rate. According to the report, the market will expand at a 21.20% CAGR over the period between 2014 and 2020. Growing at this pace, the market will rise from a valuation of US$25.5 mn in 2013 to US$97.4 mn by 2020.
On the basis of geography, the market has been segmented into Asia Pacific, Europe, North America, and Rest of the World. Of these, Europe is currently the leader as the major producers of organic solar cells are located in European countries such as France, Germany, and the U.K. These companies are benefitting from the exponentially growing demand for solar power in Europe and also from the tax benefits and subsidies provided by European governments to solar cell manufacturers.
The report gives a comprehensive account of the competitive landscape of the global organic solar cells market wherein detailed business profiles, new project feasibility analysis, SWOT analysis, and finance-related details of some of the major companies operating in the market have been discussed. It also analyzes recent developments with a view of presenting an overview of their impact on market’s overall development. Some of the most prominent vendors in the market are New Energy Technologies, Inc., BELECTRIC OPV GmbH, Disa Solar, and Mitsubishi Chemical Corporation.
The market has been segmented as:
Organic solar cell market: Application analysis
- Building Integrated Photovoltaics
- Mobile applications (Portable devices and vehicles)
- Conventional solar applications
- Defense or military based applications
Organic solar cell market: Regional analysis
- North America
- Asia Pacific
- RoW (Rest of the World)
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