Global Organic PV Solar Cells Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3488
Global Organic PV Solar Cells Market will witness growth owing to increasing energy consumption across end user applications along with rising concerns toward energy efficiency. Organic Photovoltaics (OPV) is an emerging PV technology that alters sunlight into electricity by using thin films of organic semi-conductors. Increasing dependency on renewable sources for power generation has proved to be a prime factors driving the product demand. In addition, subsidies and tax benefits by respective governments for renewable power generation will contribute to the industry growth.
Defense organic PV solar cells market is set to grow on account of its physical properties including design & flexibility that allows the product to be easily converted into desired colors and shapes. Short life span and low efficiency may pose as a restrain for the product adoption. However, potential of reel - reel processing on cost efficient substrates with standard printing and coating processes will positively influence the business scenario.
Ongoing research and development investments toward organic solar cell technology will strengthen the Europe organic PV solar cells market share. Large-scale investments for sustainable grid integration along with favorable government initiatives to support renewable energy adoption is anticipated to encourage the industry landscape. Moreover, declining solar component cost coupled with growing operational efficiency has enhanced solar installations, which in turn will boost the product demand.
Introduction of government schemes along with monetary funding toward feed in tariff and net metering will promote the development of advance technologies and establishment of innovative projects enhancing the conventional organic PV solar cells market share. Moreover, ongoing expansion of microgrid networks coupled with rising off-grid electricity demand will complement the industry growth.
Rising demand for clean & reliable power along with increasing mandates to limit carbon footprints is projected to drive the organic PV solar cells market growth. Sustainable energy integration initiatives, solar targets, FiT, tax benefit, and other financial leverages will strengthen the business scenario. In addition, electrification program in developing economies focusing on distributed generation is set to positively influence the product adoption.
Asia Pacific organic PV solar cells market will grow on account of enhancement in primitive technologies along with volume manufacturing practices accompanied by considerable decline in overall component prices. In addition, rising electricity consumption coupled with stringent government regulations and norms with an aim to curb GHG emissions will further encourage the product installation.
The key manufacturers operating in organic PV solar cells market includes Sumitomo Chemical Co. Ltd., Heliatek GmBH, Solarmer Energy Inc., Mitsubishi Chemical Corporation, Disa Solar, New Energy Technologies and BELECTRIC OPV GmBH among others.
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