The dye-sensitized solar cells market is currently witnessing rapid research and development (R&D) activities that would help in the mass production and commercialization of these cells. The costs and performance of these cells are mainly dependent on their structure and the nature of components used in their manufacturing. In addition to this, there has been a huge rise in availability of cheap and indigenously sourced derivatives, which can be used in place of the original raw materials, on account of the continuous R&D.

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Dye-Sensitized Solar Cells Market Size, Share,
Growth and Future Analysis

2. The global dye-sensitized solar cells market generated a revenue of $28,451.4
thousand in 2017 and is predicted to reach a valuation of $60,589.4 thousand by
2023. Furthermore, the market will grow at a CAGR of 13.2% between 2018 and
2023. The increasing requirement for solar energy and the implementation of
strict government regulations in several countries regarding the usage of solar
modules are the main factors driving the progress of the market.
The global demand for sustainable and clean power is rapidly increasing, on
account of the rising concerns being raised over the escalating carbon emissions,
energy security, and the surging abnormalities in weather conditions around the
world. With the signs of climate change becoming more prevalent, many
governments are increasingly preferring renewable sources of energy such as
solar energy over the conventionally used fossil fuels. Dye-sensitized solar cells
have the ability to boost the popularity of solar energy in the future.
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This would be because of their increasing applications in building envelops such
as ceilings, tiles, rooftops, and façades. The increasing demand for building-
integrated photovoltaics (BIPVs) is another major factor driving the sales of dye-
sensitized solar cells across the world. Due to the reducing prices of solar panels,
the rapidly improving efficiency of various solar modules, and the enactment of
government initiatives and policies aimed at boosting the usage of solar energy,
the global demand for BIPVs is soaring quickly.
Many governments are offering tax credits, subsidies, and feed-in tariff for
encouraging the adoption of solar power and ensuring that the electricity
produced from solar energy reaches price parity with the power generated from
conventional energy sources such as fossil fuels. In addition to this, the
provision of competitive bidding is promoting the usage of photovoltaics (PVs) in
various countries. These factors are subsequently augmenting the sales of dye-
sensitized solar cells, thereby propelling the progress of the industry.
When application is taken into consideration, the dye-sensitized solar cells
market is classified into BIPVs, portable charging, embedded electronics, solar
chargers, outdoor advertising, wireless keyboards, automotive-integrated
photovoltaics (AIPVs), emergency power in military, and building-applied
photovoltaics (BAPVs). Out of these, the BIPVs recorded the highest growth in
the market in the past years. This was because of the high usage of BIPVs in
various installations, both forthcoming and pre-existing, across the globe.

3. Geographically, the dye-sensitized solar cells market would register the fastest
growth in the Asia-Pacific (APAC) region in the future years, as per the estimates
of P&S Intelligence, a market research company based in India. The rising
implementation of strict government regulations is predicted to boost the
adoption of renewable sources of energy such as solar in the developing
countries such as India, China, Vietnam, and Thailand in the coming years.
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analysis/dye-sensitized-solar-cells-market
Thus, it is quite clear that the market will record huge expansion across the
world in the coming years, mainly because of the rising popularity of solar
energy and the increasing implementation of favorable government policies
regarding the usage of solar energy for power generation in several countries
around the world.
GLOBAL DYE-SENSITIZED SOLAR CELLS MARKET
• By Application – Portable Charging, Building-Integrated Photovoltaics (BIPVs),
Building-Applied Photovoltaics (BAPVs), Embedded Electronics, Outdoor
Advertising, Solar Chargers, Wireless Keyboards, Emergency Power in Military,
Automotive-Integrated Photovoltaics (AIPVs), Others (light intensity meters and
consumer appliances)
• By Region – North America, Europe, Asia-Pacific (APAC), Latin America (LATAM),
and Middle East and Africa (MEA)
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