Next-generation solar cell market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2024-2031).The market growth is attributed to the increasing advancement in solar cell technologies and increasing investment in high-efficiency perovskite solar cells. According to the International Energy Agency (IEA), in July 2023, Global solar PV cell investments in capacity additions increased by over 20.0% in 2022 and surpassed $320.0 billion, marking another record year. Solar PV comprised almost 45.0% of total global electricity generation investment in 2022, triple the spending on all fossil fuel technologies collectively.
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The increasing adoption of Perovskite solar panels presents significant potential for the renewable energy shift. The advantages are indisputable, ranging from improving energy accessibility and stimulating economic growth to strengthening energy security and mitigating climate change.Perovskites’ efficiency is increasing as a result of continuous R&D, which makes them a viable substitute for conventional energy sources. To ensure a steady and dependable supply of electricity from solar sources grid integration and energy storage technologies are needed.Perovskite materials provide superior lifetimes, charge-carrier mobilities, and light absorption, resulting in high device efficiencies and the potential to develop an affordable, industry-scalable technology.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Next-Generation Solar Cell Market by Material Type
- Transceivers
- Cadmium Telluride (CdTe)
- Copper Indium Gallium Selenide (CIGS)
- Amorphous Silicon (a-Si)
- Gallium-Arsenide (GaAs)
- Others (Organic Solar Cells, Dye-Sensitized Solar Cells, Perovskite Solar Cell)
Global Next-Generation Solar Cell Market by Installation
- On-Grid
- Off Grid
Global Next-Generation Solar Cell Market by End-Users
- Residential
- Commercial & Industrial
- Utilities
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East & Africa
Company Profiles
- Hanergy Thin Film Power EME B.V.
- Trina Solar
- Canadian Solar Inc.
- JA Solar Technology Co., Ltd.
- Sunrun Inc.
- Tesla
- LONGi Green Energy Technology Co. Ltd.
- JinkoSolar
- Hanwha Q CELLS Australia Pty Ltd
- REC Solar Holdings AS
- Wuxi Suntech Power Co., Ltd.
- SolaX Power Network Technology (Zhejiang) Co. , Ltd.
- SMA Solar Technology AG
- Sungrow Power Supply Co., Ltd.
- Meyer Burger (Industries) GmbH
- Risen Energy Co., Ltd.
- First Solar, Inc.
- Sharp Corp.
- SolarEdge Technologies, Inc.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global next-generation solar cell market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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