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- 14 June 2019 21:24
Increasing Initiatives By The Government Towards Electrification Using Renewable Resources Is Factor Expected To Drive Growth Of The Organic Photovoltaics Market
Organic Photovoltaic (OPV) devices convert solar energy to electrical energy. It consists of one or more photoactive materials, which are sandwiched between two electrodes, and form a typical bilayer organic photovoltaic device. The global Organic Photovoltaics Market is estimated to value at around US$ 0.5 Bn in 2017, and is expected to register a CAGR of 12%.
Global Organic Photovoltaics Market Dynamics:
Organic photovoltaic (OPV) technology enables power generation at a lower cost than that from other power generation technologies. Increasing awareness related to electricity generation from renewable energy sources is also expected to result in rising demand for organic photovoltaics, as these products are more cost-effective, flexible, and can be applied or mounted to a wider range of surfaces.
Increasing awareness regarding the use of organic photovoltaics for various purposes such as BAPV (Building Applied Photovoltaics) systems, and BIPV (Building Integrated Photovoltaics) systems are some major factors expected to drive growth of the global organic photovoltaics market over the forecast period.
Rising demand for cost-effective and eco-friendly energy generation processes, coupled with favorable government regulations and investments are other factors expected to fuel growth of the target market.
Analysis By Segmentation:
The market report has been segmented on the basis of type, application, and region. The type segment includes DSSC and P-N heterojunction. By application segment includes buildings, power generation, consumer products & telecommunication, lighting systems, and others. The region/country covered in the analysis are US, Europe, Japan, China, India, Southeast Asia, South America, South Africa, and Rest of the World.
By Type: The DSSC segment in the global organic photovoltaics market is expected to register comparatively higher CAGR of over 12% over the forecast period
By Application: The buildings segment in the global organic photovoltaics market is expected to register highest CAGR of over 12% over the forecast period
By Region/Country: The market in China is expected to register highest CAGR of over 12.5% over the forecast period in the global organic photovoltaics market.
Global Organic Photovoltaics Market: Competitive Analysis
The research report on the global organic photovoltaics market includes profiles of some of major companies such as Armor SA, BELECTRIC Solar & Battery GmbH (Innogy SE), AGC Inc., Mitsubishi Chemical Holdings Corporation, Heliatek GmbH, Henkel AG & Co. KGaA, Solarmer Energy, Inc., Centre Suisse d’Electronique et de Microtechnique SA (CSEM SA), Sumitomo Chemical Co. Limited, Toshiba Corporation, Heraeus Holding GmbH, BASF SE, and EMD Performance Materials (Merck KGaA).
The Global Organic Photovoltaics Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017–2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global organic photovoltaics market for 2017–2026.
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