The Next-generation Organic Solar Cell bring up to the type of organic photovoltaic that uses organic electronics, which is a subdivision of electronics, that produces electricity by altering sunlight into electricity with the assistance of thin films of organic semiconductors. Most of these organic-photovoltaics are compound cell solar. As a semiconductor material, it has a photosensitive nature of the organic matter, and to accomplish the effect of solar power, the photovoltaic consequence of the voltage is generated by the help of currents. The materials of the next-generation organic solar cell are much more steady at high temperatures and also takes vantage of the electro-optical properties.
COVID-19 Impact analysis
The COVID-19 pandemic has caused economic chaos across industries and businesses globally. The lockdown & social distancing restrictions in the wake of the pandemic have halted economic activities, thereby disrupting supply chains, delaying projects, creating a shortage of labor, and exploit demand for goods and services to tumble. Governments all-around the world are taking multiple efforts to decrease the suffering caused by this pandemic.
The global renewable segment is generally dependent on imports from other regions.
As per the Government of India, almost 80% of solar cells and modules in India imports from China along with other equipment for instance inverters. Several solar projects in India and worldwide are getting suspended due to the initial slowdown of manufacturing activities in China, followed by lockdown restrictions in various nations across the globe. Furthermore, key solar equipment suppliers have also witnessed production delays due to COVID-19, resulting in a huge backlog for fulfilling orders.
Top Impacting Factors
The rise in the global energy crisis, environmental pollution, and rigorous regulations and provisions of government incentives and tax rebates to install solar panels are the key factors driving the growth of the global next-generation organic solar cell market. Moreover, the growing competition among producers with respect to the advancements in photovoltaic-based power systems, and growth in the count of solar power projects have also propelled the growth of this market. additionally, investments made by governments are also promising to fuel the growth of this market. Nevertheless, climatic conditions and regional latitudes like snowfall- and rainfall-prone regions with factors such as reliability, production, and competitiveness might hinder the growth of this market.
Market Trends
- Europe is expected to lead the global market for organic solar cells over the forecast time. Large investments in R&D for organic solar cells technology by nations, including Germany, France, and the UK, will definitely contribute to the region’s large market share. The building-integrated photovoltaic technology in Europe is in a development period and is being positively affected by the regulatory framework. The Directive on Energy Performance in Buildings (EPBD) and the Renewable Energy Directive are set up by the European Union (EU), creating the way for near-zero energy buildings.
- Major players in the market are using several strategies to strengthen their positions in this market. One of the preferred strategies is the enhancement of novel solutions that will aid them to diversify their product portfolios and extend their sales horizons. Moreover, many academic institutes are conducting new research, exploring the possible applications of organic solar cells For instance, in 2019, the Fraunhofer Institute for Laser Technology-led EffiLayers project in the North Rhine-Westphalian region in Germany is studying on the development of thin-film organic PVs that are malleable and printable. The research would allow manufacturers in the region to prepare newer technologies in the market.
- Asia-Pacific is foreseen to exhibit substantial growth during the forecast time owing to the increasing investments by major firms, prominently in China and Japan. China and India are set to be a potential market because government regulations that encourage power generation by renewable resources. The demand for organic solar cell in Asia Pacific is increasing continuously as these products are helping in generation of reusable source of power. North America had the second-largest share of the market because of the presence of small scale manufacturers in the region. Nonetheless, Latin America and the Middle East and Africa held the least share of the market.
Key Benefits of the Report
- This study presents the analytical depiction of the next-generation organic solar cell market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the next-generation organic solar cell market market share.
- The current market is quantitatively analyzed from 2020 to 2028 to highlight the next-generation organic solar cell market market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed next-generation organic solar cell market market analysis based on competitive intensity and how the competition will take shape in coming years
Next-generation Organic Solar Cell Market Report Highlights
| Aspects | Details |
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 By Application |
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 By Region |
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 Key Market Players | Solarmer Energy, Inc. (U.S.), NanoFlex Power Corporation (U.S.), infinityPV ApS (Denmark), Optodot (U.S.), Brite Solar (Greece), New Energy Technologies Inc. (U.S.), Eni (Italy), ARMOR (France), Novaled GmbH (Germany), Heliatek (Germany) |
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