Organic PV Solar Cells Market to Witness Growth by a CAGR of ~18% throughout 2022 – 2030

Research Nester published a report titled “Organic PV Solar Cells Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global organic PV solar cells market in terms of market segmentation by application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global organic PV solar cells market is anticipated to attain a high CAGR of ~18% over the forecast period, i.e., 2022 – 2030. The market is segmented by end-user into residential, industrial, commercial and others. Out of these, the commercial segment is anticipated to hold the largest share during the forecast period on account of growing commercialization of solar power plants. The adoption of organic solar cells in commercial power plants will not only save significant expenses, but also be environment friendly, which is estimated to boost the market growth.

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The global organic PV solar cells market is estimated to grow on the back of various advantages offered by organic photovoltaic solar cells, such as, lighter weight, cheaper cost, organically disposable, flexible, and customizable on the molecular level. The higher affordability of organic PV is the primary factor estimated to boost its demand in the upcoming years. Moreover, the growing adoption of solar energy is estimated to act as a growth driver for the market growth. According to the statistics by the International Energy Agency (IEA), solar PV power generation has increased by 22% in 2019. Furthermore, expanding government initiatives to promote the use of solar energy is estimated to drive the market growth.

On the basis of geographical analysis, the global organic PV solar cells market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is estimated to garner the largest market share owing to the large number of commercial solar farms, and high adoption of organic PV solar cells in the region. The countries, including, China, India, and Japan are some of the largest producers of solar electricity, which is estimated to boost the market growth.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Growing Adoption of Solar Energy to Boost the Market Growth

The increasing awareness regarding use of renewable energy on the part of the government as well as the public, has significantly increased the adoption of solar energy. The growing awareness about environmental conservation is estimated to boost the market growth significantly.

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However, slow adoption of organic cells over silicon solar cells is expected to operate as key restraint to the growth of the global organic PV solar cells market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global organic PV solar cells market which includes company profiling of Novaled GmbH, Brite Solar, New Energy Technologies, Inc., Eni S.p.A., NanoFlex Power Corporation, Solarmer Energy, Inc., Optodot Corporation, infinityPV, Heliatek, Cybrid Technologies Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global organic PV solar cells market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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