Dye-sensitized
solar cells (DSSC) market is
anticipated to witness significant growth over the forecast period as a result
of the rising demand for solar energy. Increasing consumer awareness regarding
environmental effects related to conventional sources of energy along with
depletion of resources is expected to spur the market growth. Technological
advancements has resulted in lower cost of production which is expected to
further boost the demand for dye-sensitized solar cells over the next seven
years. The dye-sensitized solar cells market is concentrating on portable and
indoor applications and is expected to venture into major applications
including automotive, electronics, outdoor advertising, steel roofing and bus
shelters. Rising environmental concerns on account of global warming and carbon
emissions of non-renewable sources of energy is anticipated to fuel the
dye-sensitized solar cells market over the projected period. Mounting demand
for building integrated photovoltaic system (BIPV) is anticipated to contribute
significantly towards market growth owing to mounting demand for portable
electric charger. However, presence of liquid electrolyte which doesn’t respond
well to changing weather conditions is expected to act as a restraint for
market growth. Moreover, variation in oil and gas prices is further expected to
restrict the market growth over the forecast period.
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Europe is expected
to witness substantial market growth over the next seven years on account of
increasing numerous R&D projects carried out in the region. Moreover,
energy policies and initiatives from various countries including Spain, Germany
and Italy for reducing the dependence on import of fossil fuel is expected to
surge the demand over the forecast period. North America is anticipated to have
a moderate growth owing to the presence of conventional resources in this
region along with the shale gas boom. However, initiatives taken by the U.S.
government on renewable energy is expected to contribute towards the market
growth. Asia Pacific is anticipated to show substantial growth mainly owing to
China, where solar panels are manufactured in large quantities.
Global key players
in dye-sensitized solar cells market include Dyesol Ltd., 3GSolar Photovoltaics
Ltd., CSIRO, Jintex Corporation, Exeger Sweden AB, G24 Power Ltd., Fujikura
Ltd., Konica Minolta Sensing Americas, Inc., Peccell Technologies, Inc., Merck
KGaA, Solaris Nanosciences Corporation, Samsung SDI Co., Ltd., Solaronix SA and
Solarprint Ltd. G24 Power Ltd. focuses in commercialization of DSSC with the
product name “GCell” and having capacity of over 500,000 meters of DSSC modules
per year.
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