Organic PV Solar Cells Market Analysis

Application (Solar Electricity, Heating)

The global organic PV solar cells market is segmented and analyzed for demand and supply by application into solar electricity, heating, and others. Out of the three types, the solar electricity segment is estimated to gain the largest market share of about 38% in the year 2037. The growth of the segment can be attributed to the increasing use of solar panels for electricity generation across the world. The market segment growth is attributed to the increasing environmental concern about the greenhouse gases released from the conventional heat and electricity generation process. The growing pollution caused by silicon materials used in traditional solar panels and less efficiency in absorption is estimated to propel market growth in the coming years. The percentage of solar energy or sunlight absorbed by silicon solar panels is only 65% as per the estimations in 2020. The increasing installation of solar power plants across the world to increase the efficiency and expenditure of electricity is estimated to hike the market growth.

End-user (Residential, Industrial, Commercial)

The global organic PV solar cells market is also segmented and analyzed for demand and supply by end-user into residential, industrial, commercial, and others. Amongst these three segments, the industrial segment is expected to garner a significant share of around 29% in the year 2037. The market segment growth is attributed to the increasing use of industrial buildings situated in off-grid and remote areas to provide continuous electricity supply. The increasing number of construction buildings for commercial use such as organizations, hotels, and institutions are estimated to hike the market segment growth. The growing utilization of solar panels for light-up signs or message boards to reduce electricity consumption is anticipated to drive market segment growth.  The installation of solar panels on the rooftop of buildings for water heating, and air ventilation instead of using electricity is also driving the market segment growth. The little maintenance cost and high quality of commercial solar panels are projected to fuel the growth of the market segment in the coming years. Also, the lifespan of commercial solar panels compared to industrial and residential solar panels is very high which is 15-20 years is also expected to have a positive impact on the market segment growth.

Our in-depth analysis of the global market includes the following segments: