Pune, India, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global polymer solar cell market is set to gain impetus from the ever-increasing demand for electrical energy. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Polymer Solar Cell Market Size, Share & Industry Analysis, By Installation (Roof-Mount, Ground Mount, Floating Power Plant, Portable, Others), By Application (Residential, Commercial, Industrial, Space, Defense, Utilities) and regional forecast 2024-2032.” The report further states that solar energy being renewable, has gained significance in the last few years as the need for an alternate energy source has surged. It will propel the demand for polymer solar cells in the upcoming years.
Key Industry Developments:
- July 2019: A team of scientists from Skoltech Institute of Science and Technology, Russia, demonstrated a new solar cell that can provide record-high radiation stability.
- May 2018: Osaka University researchers declared that they have successfully used machine learning (ML) for automating the search for well-matched solar materials. These will be used to design novel polymer solar cells.
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Drivers & Restraints:
Rising Demand for Clean Energy to Propel Growth
Over the last few decades, countries, such as the U.S., Germany, and China, have increased their production of electricity by utilizing solar energy and have developed several solar powerhouses. It is expected to accelerate the polymer solar cell market growth in the near future. Apart from that, the high demand for clean energy, coupled with the rising installation of polymer solar cells would aid growth. Numerous countries worldwide are shifting rapidly towards clean energy sources. Besides, governments are introducing tax rebates and incentives for using solar energy. These cells can also be used with building-integrated solar photovoltaics. However, the high manufacturing cost may obstruct the demand for polymer solar cells.
COVID-19 Impact:
The COVID-19 pandemic has drastically reduced the demand for electricity around the globe. Governments of various countries were compelled to lower business activities for minimizing transmission of the coronavirus. Work-from-home initiatives by multiple organizations also increased the residential load demand. This created new challenges in financial and technical activities of the power sector. Our research reports will help you overcome the current situation by investing in the right areas of the polymer solar cell industry.
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How Did We Create This Report?
We employ iterative and comprehensive research techniques focusing on minimizing deviance. We use a combination of top-down and bottom-up approaches for estimating and segmenting quantitative aspects of the parents market. At the same time, data triangulation is used to look at the market from three perspectives. Simulation models were used to gather data about the market forecasts and estimates.
Polymer Solar Cell Market Segmentations:
Based on the installation, it can be segmented into roof mount, ground mount, floating power plant, etc. Polymer solar cell is used in every type of installation. The polymer solar cell is used in portable electronics. The polymer solar cell market can also be segmented based on application in various fields like residential, commercial, and industrial, defense, space, consumer, and utilities. Polymer solar cell has residential applications for water heaters, battery, and cell phone chargers, solar vehicles, etc.
Regional Insights:
Countries Worldwide to Focus on Producing More Solar Energy to Intensify Competition
In Asia Pacific, China is considered to be the largest producer of photovoltaic energy and solar panels. In Europe, Germany is projected to be the largest solar energy producer, followed by the U.K., Italy, and Spain. Chile and the U.S. in South America and North America, respectively, have surged their production of solar energy. As Africa receives the maximum sunlight than any other continent worldwide, countries located there will change their approach towards solar energy. It would help to bolster the demand for polymer solar cells.
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Competitive Landscape: Polymer Solar Cell Market
Key Players Aim to Conduct Extensive R&D to Unveil Innovative Products
The market for polymer solar cells contains a large number of manufacturers that are presently aiming to invest in research and development activities. They are doing so to introduce technologically advanced products for catering to the excessive demand globally.
List of Players Operating in the Polymer Solar Cell Market are as follows:
- infinityPV
- OPVIUS GmbH
- Epishine
- Merck Group
- Heliatek GmbH
- Shenzhen Shine Solar Co., Ltd.
- Zhejiang Perlight Solar Co., Ltd.
- Wuxi Sunket New Energy Technology Co., Ltd.
- NanoFlex Power Corporation
- Brite Hellas S.A. Solar Technologies
- COE Solar
- Fraunhofer-Institut für Solare Energiesysteme ISE
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Polymer Solar Cell Market Segmentation:
By Installation:
- Roof-Mount
- Ground Mount
- Floating Power Plant
- Portable
- Others
By Application:
- Residential
- Commercial
- Industrial
- Space
- Defense
- Utilities
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