Pune, India, Oct. 30, 2023 (GLOBE NEWSWIRE) — The global perovskite solar cell market size was valued at USD 79.05 million in 2022. The market is anticipated to grow from USD 120.29 million in 2023 to USD 2,759.16 million by 2030, exhibiting a CAGR of 56.5% over the estimated period. Some of the major factors contributing to their robust demand are their ease of fabrication, high efficiency in power conversion, and decreased production costs. These cells have made great progress over the years as several reports have claimed that their efficiency has increased from a mere 3% in 2009 to more than 25% in 2021. These aspects may boost the perovskite solar cell market growth. Flexible Perovskite Solar Cells Will Gain Momentum in Demand for Their Innovative Research Technology and Lightweight NatureBased on end-user, the market has been segmented into BIPV, power plant, transportation & mobility, consumer electronics, and others. The BIPV segment has captured the largest market share as this system can decrease electricity & material costs, enhance a building’s architectural appeal, and decrease pollution levels.
By region, the global market is divided into Asia Pacific, Latin America, North America, the Middle East & Africa, and Europe.Growing Demand for Sustainable Energy Sources to Boost APAC Market Growth
(GlobeNewsWire)