1. What is the projected Compound Annual Growth Rate (CAGR) of the U.S. Perovskite Solar Cell Market?
The projected CAGR is approximately 48.52%.
U.S. Perovskite Solar Cell MarketU.S. Perovskite Solar Cell Market Navigating Dynamics Comprehensive Analysis and Forecasts 2025-2033
U.S. Perovskite Solar Cell Market by Type (Rigid, Flexible), by End-user (BIPV, Power Station, Transportation, Mobility, Consumer Electronics, Others), by Forecast 2025-2033
Base Year: 2024
58 Pages
U.S. Perovskite Solar Cell Market Navigating Dynamics Comprehensive Analysis and Forecasts 2025-2033
U.S. Perovskite Solar Cell Market Navigating Dynamics Comprehensive Analysis and Forecasts 2025-2033
Key Insights
The U.S. Perovskite Solar Cell Market size was valued at USD 13.17 USD Million in 2023 and is projected to reach USD 209.93 USD Million by 2032, exhibiting a CAGR of 48.52 % during the forecast period. Perovskite solar cells (PSCs) are a new type of photovoltaic technology whose photoactive layer employs materials with crystalline perovskite structures. They are largely employed in the process of generating electricity from sunlight for homes, commercial and industrial applications. Some examples of PSCs are planar PSCs and mesoscopic PSCs which are classified based on structure. The merits associated with PSCs include high efficiency; low cost of production; and also the ability to manufacture PSCs on flexible substrate. Current trends in the U. S. are leaning towards the support of the development and strengthening of PSCs for commercial use by investing significant resources in research that is designed to improve the overall stability of the device as well as its compatibility with other solar technologies in the marketplace today.
U.S. Perovskite Solar Cell Trends
- The applications and capability of perovskite solar cells are continuously being researched. Ongoing studies are also focused on improving their efficiency.
- Flexible perovskite solar cells can be easily incorporated into various surfaces and shapes, making them ideal for portable devices and building integration. -Perovskite solar cells can be fabricated at a lower cost and with higher efficiency.
Driving Forces: What's Propelling the U.S. Perovskite Solar Cell Market
- Ongoing government incentives, tax credits, and research grants stimulate investment and adoption of perovskite solar cell technology.
- Federal and state policies that set renewable energy targets and promote grid modernization drive demand for efficient and cost-effective solar solutions.
- Collaboration between universities, national laboratories, and industry players fosters innovation and accelerates technological advancements.
Challenges and Restraints in U.S. Perovskite Solar Cell Market
- Long-term stability remains a key concern, requiring further research to improve the durability and lifespan of perovskite solar cells.
- Competition from established solar technologies, such as silicon-based solar cells, poses a challenge to market penetration.
- High manufacturing costs and scalability challenges hinder the widespread commercialization of perovskite solar cells.
Emerging Trends in U.S. Perovskite Solar Cell
- The development of tandem perovskite solar cells involves stacking perovskite layers with other materials such as silicon to improve efficiency. -Perovskite solar cells can be integrated into various applications beyond traditional solar panels, such as wearable devices and building facades.
Growth Catalysts in U.S. Perovskite Solar Cell Industry
-a shift towards sustainable energy solutions is anticipated to drive the U.S. perovskite solar cell industry forward.
- The growing demand for high-performance solar cells, particularly in the residential and commercial sectors, will provide growth opportunities.
Market Segmentation: U.S. Perovskite Solar Cell Analysis
Type:
- Rigid
- Flexible
End-user:
- BIPV (Building-integrated photovoltaics)
- Power Station
- Transportation and Mobility
- Consumer Electronics
- Others
Leading Players in the U.S. Perovskite Solar Cell Market
- Swift Solar
- Natcore Technology
- Saule Technologies
- Hunt Energy
- Oxford PV
- Panasonic
- Greatcell Energy
- Suniva Inc
- Alps Technology Inc.
- First Solar
Significant developments in U.S. Perovskite Solar Cell Sector
- July 2023: Silicon and perovskite combined to create solar cells with 30% efficiency, a significant milestone in the field.
- May 2023: Evolar, a Swedish startup, announced its acquisition by First Solar for USD 80 million, bolstering tandem cell development.
- April 2021: Hunt Perovskite Technologies received USD 2.5 million from the U.S. Department of Energy to enhance solar cell efficiency and reduce costs.
Comprehensive Coverage U.S. Perovskite Solar Cell Market Report
- Capacity and Production Analysis: Forecast of production capabilities and market share for key manufacturers.
- Supply-Demand Dynamics: Assessment of raw material availability, production capacity, and consumption trends.
- Technology Assessment: In-depth analysis of advancements in perovskite solar cell technology, including tandem cells, interfacial engineering, and stability enhancements.
- Application Segment Analysis: Segmentation and forecast of perovskite solar cell applications in commercial rooftops, residential homes, and utility-scale projects.
- Competitive Landscape: Profiling of key players, their market share, product offerings, and strategic alliances.
- Marketing Strategy Analysis: Examination of pricing strategies, target markets, and distribution channels employed by market participants.
- SWOT Analysis: Identification of strengths, weaknesses, opportunities, and threats facing the U.S. perovskite solar cell market.
Regional Insight
- West Coast states in the U.S., such as California, continue to lead the market due to favorable government policies and investments in R&D initiatives. Emerging innovation hubs in the Northeast and Midwest are also attracting significant attention.
- States with ambitious renewable energy targets, such as New York and Massachusetts, are driving growth in the region through ambitious deployment goals for perovskite solar technologies.
- The expansion of perovskite solar cell manufacturing facilities is expected to accelerate the market's growth in the coming years.
Technology Analysis
-Perovskite solar cells utilize thin-film technology, allowing for flexibility and adaptability. Advancements in materials and device engineering are continually pushing the boundaries of efficiency.
Pestle Analysis
- Political: Government regulations, incentives, and policies significantly shape the adoption of perovskite solar cells.
- Economic: Changing energy prices and economic conditions impact the viability of perovskite solar cell investments.
- Social: The growing awareness of climate change and environmental concerns drives demand for sustainable energy solutions, including perovskite solar cells.
- Technological: Ongoing research and innovation are crucial for enhancing perovskite solar cell efficiency and reducing production costs.
- Legal: Intellectual property rights, regulations, and standards influence the market landscape for perovskite solar cells.
- Environmental: The sustainability and eco-friendly nature of perovskite solar cells align with the increasing global focus on environmental protection.
Portor's Five Force Analysis
- Threat of new entrants: Low barriers to entry due to ongoing research and development efforts may lead to new competitors.
- Bargaining power of suppliers: Moderate, as key raw materials and equipment suppliers hold considerable influence.
- Bargaining power of buyers: Moderate to high, as large-scale projects and commercial applications provide buyers with significant leverage.
- Threat of substitutes: High, as alternative solar cell technologies such as silicon and thin-film solar cells are widely available.
- Competitive rivalry: Intense, with key players investing heavily in research and product differentiation to gain market share.
BCG Matrix
- Stars: Swift Solar, First Solar
- Cash Cows: Oxford PV, Panasonic
- Question Marks: Saule Technologies, Greatcell Energy
- Dogs: Natcore Technology, Suniva Inc
Import & Export Analysis
- The U.S. is a net importer of perovskite solar cells, with primary imports from China and South Korea.
- Growing domestic production capacity is expected to reduce import dependence in the future.
Production & Consumption
- California, Texas, and Arizona are key hubs for perovskite solar cell manufacturing in the U.S.
- Demand for perovskite solar cells is driven by the residential and commercial sectors, with a growing focus on BIPV applications.
Regulatory Landscape
- The U.S. Department of Energy and other government agencies provide research grants and support the development of perovskite solar cells.
- Industry standards and certifications are being established to ensure quality and safety of perovskite solar cell products.
U.S. Perovskite Solar Cell Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 48.52% from 2019-2033 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Technological Advancements in the Product to Bolster Market Growth
- 3.3. Market Restrains
- 3.3.1. Stability and Durability Issues in the Product May Restrain Market Growth
- 3.4. Market Trends
- 3.4.1. Global Shift Toward Renewable Energy Sources to Drive Market Growth
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. U.S. Perovskite Solar Cell Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Type
- 5.1.1. Rigid
- 5.1.2. Flexible
- 5.2. Market Analysis, Insights and Forecast - by End-user
- 5.2.1. BIPV
- 5.2.2. Power Station
- 5.2.3. Transportation
- 5.2.4. Mobility
- 5.2.5. Consumer Electronics
- 5.2.6. Others
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1.
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. Northeast U.S. Perovskite Solar Cell Market Analysis, Insights and Forecast, 2019-2031
- 7. Southeast U.S. Perovskite Solar Cell Market Analysis, Insights and Forecast, 2019-2031
- 8. Midwest U.S. Perovskite Solar Cell Market Analysis, Insights and Forecast, 2019-2031
- 9. Southwest U.S. Perovskite Solar Cell Market Analysis, Insights and Forecast, 2019-2031
- 10. West U.S. Perovskite Solar Cell Market Analysis, Insights and Forecast, 2019-2031
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2024
- 11.2. Company Profiles
- 11.2.1 Swift Solar (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Natcore Technology (U.S.)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Saule Technologies (U.S.)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Hunt Energy (U.S.)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Oxford PV (U.S.)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Panasonic (U.S.)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Greatcell Energy (U.S.)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Suniva Inc (U.S.)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Alps Technology Inc. (U.S.)
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 First Solar (U.S.)
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 Swift Solar (U.S.)
List of Figures
- Figure 1: U.S. Perovskite Solar Cell Market Revenue Breakdown (USD Million, %) by Product 2024 & 2032
- Figure 2: U.S. Perovskite Solar Cell Market Share (%) by Company 2024
List of Tables
- Table 1: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by Region 2019 & 2032
- Table 2: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by Region 2019 & 2032
- Table 3: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by Type 2019 & 2032
- Table 4: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by Type 2019 & 2032
- Table 5: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by End-user 2019 & 2032
- Table 6: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by End-user 2019 & 2032
- Table 7: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by Region 2019 & 2032
- Table 8: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by Region 2019 & 2032
- Table 9: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by Country 2019 & 2032
- Table 10: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by Country 2019 & 2032
- Table 11: Northeast U.S. Perovskite Solar Cell Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 12: Northeast U.S. Perovskite Solar Cell Market Volume (Thousand Units) Forecast, by Application 2019 & 2032
- Table 13: Southeast U.S. Perovskite Solar Cell Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 14: Southeast U.S. Perovskite Solar Cell Market Volume (Thousand Units) Forecast, by Application 2019 & 2032
- Table 15: Midwest U.S. Perovskite Solar Cell Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 16: Midwest U.S. Perovskite Solar Cell Market Volume (Thousand Units) Forecast, by Application 2019 & 2032
- Table 17: Southwest U.S. Perovskite Solar Cell Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 18: Southwest U.S. Perovskite Solar Cell Market Volume (Thousand Units) Forecast, by Application 2019 & 2032
- Table 19: West U.S. Perovskite Solar Cell Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 20: West U.S. Perovskite Solar Cell Market Volume (Thousand Units) Forecast, by Application 2019 & 2032
- Table 21: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by Type 2019 & 2032
- Table 22: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by Type 2019 & 2032
- Table 23: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by End-user 2019 & 2032
- Table 24: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by End-user 2019 & 2032
- Table 25: U.S. Perovskite Solar Cell Market Revenue USD Million Forecast, by Country 2019 & 2032
- Table 26: U.S. Perovskite Solar Cell Market Volume Thousand Units Forecast, by Country 2019 & 2032
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.
Frequently Asked Questions
2. Which companies are prominent players in the U.S. Perovskite Solar Cell Market?
Key companies in the market include Swift Solar (U.S.), Natcore Technology (U.S.), Saule Technologies (U.S.), Hunt Energy (U.S.), Oxford PV (U.S.), Panasonic (U.S.), Greatcell Energy (U.S.), Suniva Inc (U.S.), Alps Technology Inc. (U.S.), First Solar (U.S.).
3. What are the main segments of the U.S. Perovskite Solar Cell Market?
The market segments include Type, End-user.
4. Can you provide details about the market size?
The market size is estimated to be USD 13.17 USD Million as of 2022.
5. What are some drivers contributing to market growth?
Technological Advancements in the Product to Bolster Market Growth.
6. What are the notable trends driving market growth?
Global Shift Toward Renewable Energy Sources to Drive Market Growth.
7. Are there any restraints impacting market growth?
Stability and Durability Issues in the Product May Restrain Market Growth.
8. Can you provide examples of recent developments in the market?
July 2023: Silicon and perovskite worked excellently in collaboration to produce 30% + well-regulated solar cells. The two designs utilize various procedures to lower losses and altogether account for a crucial milestone on the road to demonstrating the value of perovskite top layers to silicon solar cells.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 2850, USD 3850, and USD 4850 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in USD Million and volume, measured in Thousand Units.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "U.S. Perovskite Solar Cell Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the U.S. Perovskite Solar Cell Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the U.S. Perovskite Solar Cell Market?
To stay informed about further developments, trends, and reports in the U.S. Perovskite Solar Cell Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.