The global transparent solar cells market was valued at $12.2 million in 2021 and is projected to reach $83.5 million by 2031, registering a CAGR of 21.3% from 2022 to 2031.
A transparent solar cell is a cutting-edge solar technology that could completely transform the energy sector by making it possible to incorporate solar panels into a variety of products, from consumer electronics to building materials. These solar cells offer a promising solution for incorporating solar power into daily life as they can be made to be almost invisible.
Transparent solar cells are ideal for BIPV applications as they can be incorporated into structures without impairing the aesthetics of the building. In addition, they are unsightly and take away from the aesthetic appeal of the building when compared to conventional solar panels. In addition, transparent solar cells reduce the building's reliance on the grid, lowering energy costs and reducing the carbon footprint.
Transparent solar cells are versatile and can be used in many applications beyond building integrated photovoltaics (BIPV) such as outdoor advertising, greenhouses, and military applications. Transparent solar cells can be integrated into outdoor advertising displays, such as billboards and signage, to generate electricity and power the display. This reduces the reliance on traditional power sources and can make outdoor advertising more sustainable. Transparent solar cells can be used in the construction of greenhouses to generate electricity while still allowing natural light to pass through for plant growth. This can help reduce the carbon footprint of greenhouse operations and make them more sustainable. Transparent solar cells can be used in military applications, such as for powering communication devices, surveillance equipment, and sensors. This can reduce the need for traditional power sources, increase efficiency, and improve mobility in the field.
Customers are becoming more aware of the environment, and there are more transparent solar cell products available. As climate change becomes an urgent issue, more customers are looking for environmentally friendly and sustainable products. For everyday products, transparent solar cells provide an energy-efficient solution. Consumers can lessen their carbon footprint and help the transition to sustainable energy sources by using transparent solar cells. Transparent solar cells are an appealing option for consumers looking to cut their energy consumption because they can be used in a variety of settings, including consumer electronics and buildings.
Additionally, as more companies from around the world enter the market, hence consumers have a wider range of products. Furthermore, companies are spending money on marketing and advertising campaigns to advertise their transparent solar cell products, which is assisting in increasing consumer awareness. The aforementioned factors will increase demand for transparent solar cell products, which will in turn spur market expansion.
The transparent solar cells market is segmented on the basis of cell type, transparency type, application, and region. By cell type, the market is divided into thin film photovoltaics, polymer solar cell, and others. By transparency type, it is bifurcated into partial and full. By application, it is classified into building integrated photovoltaics, automobile, consumer electronics, and others. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Key players in the transparent solar cell industry are Heliatek, Brite Solar, Ubiquitous Energy, Inc., Onyx Solar Group LLC, SolarScape Enterprises Ltd., Xiamen Solar First Energy Technology Co., Ltd., Polysolar, PHYSEE, Sharp Corporation, and Energyglass. These players have adopted various strategies to gain a higher share or retain leading positions in the market.
Post-pandemic, the transparent solar cells market is growing at a rapid pace due to the increasing demand for sustainable building materials and the growing awareness of renewable energy. Research and development efforts are also underway to improve the efficiency and durability of transparent solar cells.
A transparent solar cell is a cutting-edge solar technology that could completely transform the energy sector by making it possible to incorporate solar panels into a variety of products, from consumer electronics to building materials. These solar cells offer a promising solution for incorporating solar power into daily life as they can be made to be almost invisible.
Transparent solar cells are ideal for BIPV applications as they can be incorporated into structures without impairing the aesthetics of the building. In addition, they are unsightly and take away from the aesthetic appeal of the building when compared to conventional solar panels. In addition, transparent solar cells reduce the building's reliance on the grid, lowering energy costs and reducing the carbon footprint.
Transparent solar cells are versatile and can be used in many applications beyond building integrated photovoltaics (BIPV) such as outdoor advertising, greenhouses, and military applications. Transparent solar cells can be integrated into outdoor advertising displays, such as billboards and signage, to generate electricity and power the display. This reduces the reliance on traditional power sources and can make outdoor advertising more sustainable. Transparent solar cells can be used in the construction of greenhouses to generate electricity while still allowing natural light to pass through for plant growth. This can help reduce the carbon footprint of greenhouse operations and make them more sustainable. Transparent solar cells can be used in military applications, such as for powering communication devices, surveillance equipment, and sensors. This can reduce the need for traditional power sources, increase efficiency, and improve mobility in the field.
Customers are becoming more aware of the environment, and there are more transparent solar cell products available. As climate change becomes an urgent issue, more customers are looking for environmentally friendly and sustainable products. For everyday products, transparent solar cells provide an energy-efficient solution. Consumers can lessen their carbon footprint and help the transition to sustainable energy sources by using transparent solar cells. Transparent solar cells are an appealing option for consumers looking to cut their energy consumption because they can be used in a variety of settings, including consumer electronics and buildings.
Additionally, as more companies from around the world enter the market, hence consumers have a wider range of products. Furthermore, companies are spending money on marketing and advertising campaigns to advertise their transparent solar cell products, which is assisting in increasing consumer awareness. The aforementioned factors will increase demand for transparent solar cell products, which will in turn spur market expansion.
The transparent solar cells market is segmented on the basis of cell type, transparency type, application, and region. By cell type, the market is divided into thin film photovoltaics, polymer solar cell, and others. By transparency type, it is bifurcated into partial and full. By application, it is classified into building integrated photovoltaics, automobile, consumer electronics, and others. By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Key players in the transparent solar cell industry are Heliatek, Brite Solar, Ubiquitous Energy, Inc., Onyx Solar Group LLC, SolarScape Enterprises Ltd., Xiamen Solar First Energy Technology Co., Ltd., Polysolar, PHYSEE, Sharp Corporation, and Energyglass. These players have adopted various strategies to gain a higher share or retain leading positions in the market.
IMPACT OF COVID-19 ON THE GLOBAL TRANSPARENT SOLAR CELLS MARKET
COVID-19 is an infectious disease that originated in the Hubei province of Wuhan city in China in late December 2019. It has spread to 213 countries around the globe, with the World Health Organization declaring it a public health emergency on March 11, 2020. The COVID-19 pandemic had a mixed impact on the transparent solar cells market, with both positive and negative effects. On the negative side, it has caused disruptions in global supply chains and manufacturing operations, which has delayed the production and deployment of transparent solar cells. However, it has also created new opportunities for the market, such as increased demand for sustainable and energy-efficient building materials, and increased awareness about renewable energy and sustainability.Post-pandemic, the transparent solar cells market is growing at a rapid pace due to the increasing demand for sustainable building materials and the growing awareness of renewable energy. Research and development efforts are also underway to improve the efficiency and durability of transparent solar cells.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the transparent solar cells market analysis from 2021 to 2031 to identify the prevailing transparent solar cells market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the transparent solar cells market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global transparent solar cells market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Cell Type
- Thin-Film Photovoltaics (TPV)
- Polymer Solar Cell
- Others
By Transparency Type
- Partial
- Full
By Application
- Building Integrated Photovoltaics (BIPV)
- Automobile
- Consumer Electronics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Physee
- Polysolar
- Onyx Solar Group LLC
- EnergyGlass
- Sharp Corporation
- Ubiquitous Energy, Inc.
- Brite Solar
- SolarScape Enterprises Ltd
- Heliatek
- Xiamen Solar First Energy Technology Co., Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TRANSPARENT SOLAR CELLS MARKET, BY CELL TYPE
CHAPTER 5: TRANSPARENT SOLAR CELLS MARKET, BY TRANSPARENCY TYPE
CHAPTER 6: TRANSPARENT SOLAR CELLS MARKET, BY APPLICATION
CHAPTER 7: TRANSPARENT SOLAR CELLS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Transparent Solar Cells Market," the transparent solar cells market was valued at $12.2 million in 2021, and is estimated to reach $83.5 million by 2031, growing at a CAGR of 21.3% from 2022 to 2031.Transparent solar cell is a type of photovoltaic cell that produces electricity from absorbed light in the ultraviolet and infrared spectrum while simultaneously allowing visible light to pass through. To generate electricity while still allowing natural light to pass through, transparent solar cell is a specialized kind of solar panel that can be integrated into windows, skylights, and other glass surfaces.
Transparent solar cells can be used for a wide range of purposes outside of building design. In fact, due to their adaptability and aesthetic appeal, they are a great fit for a variety of industries, including the automotive and consumer electronics sectors.
In the automotive sector, transparent solar cells can be used to power electric vehicles or extend the range of hybrid vehicles. Incorporating transparent solar cells into a car's body or sunroof, for instance, would enable the car to generate electricity while being driven and reduce the need for external charging. By doing so, consumers can benefit from more practical and convenient electric and hybrid vehicles while also reducing their negative environmental effects.
Transparent solar cells can be used in the consumer electronics sector to power portable electronics such as smartphones and tablets. It can produce electricity from sunlight by incorporating transparent solar cells into the device's body or display, which eliminates the need for external charging. The device's battery life may be improved as a result, and users may find it more convenient to use.
Growing concern for the environment and increasing availability of transparent solar cell products are some of the main drivers for consumer awareness. With climate change becoming a pressing issue, more consumers are looking for eco-friendly and sustainable products. Transparent solar cells offer an energy-efficient solution for everyday products. Transparent solar cells provide a way for consumers to reduce their carbon footprint and contribute to the shift toward sustainable energy sources. In addition, transparent solar cells can be used in a wide range of applications, from consumer electronics to buildings, making them an attractive option for consumers looking to reduce their energy consumption. Companies are also investing in marketing and advertising campaigns to promote their transparent solar cell products, which is helping to raise awareness among consumers. The presence of the above-mentioned factors are projected to drive the demand for transparent solar cell products, which in turn, drive market growth.
The windows of skyscrapers and outdoor advertising displays are also few of the areas where transparent solar cells can be utilized. Transparent solar cells can offer a renewable energy source in these situations without detracting from the visual appeal of the structure or display. The presence of the above-mentioned applications in various growing sectors is expected to provide many opportunities for the development of the market.
Transparent solar cells' low efficiency is a significant problem because it reduces the amount of light that can be absorbed and converted into electricity. Despite recent significant improvements in transparent solar cell efficiency, the 5-7% efficiency is still lower than the over 25% efficiency of conventional solar panels. This may restrict the use of transparent solar cells in industries where efficiency is a crucial factor, especially for big solar energy projects. Furthermore, less efficient systems produce less energy, which can be a big problem for customers who need a lot of energy output.
The transparent solar cells market analysis is segmented on the basis of cell type, transparency type, application, and region. By cell type, the market is divided into thin film photovoltaics, polymer solar cell, and others. By transparency type, it is bifurcated into partial and full. By application, it is classified into building integrated photovoltaics, automobile, consumer electronics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players in the transparent solar cell industry are Heliatek , Brite Solar, Ubiquitous Energy, Inc., Onyx Solar Group LLC, SolarScape Enterprises Ltd., Xiamen Solar First Energy Technology Co., Ltd., Polysolar, PHYSEE, Sharp Corporation, and Energyglass. These players have adopted various strategies to gain a higher share or retain leading positions in the market.
Key Findings of the Study
- On the basis of cell type, the polymer solar cells segment is projected to grow at the highest CAGR of approximately 21.0%, in terms of revenue, during the forecast period.
- On the basis of transparency type, the partial segment is projected to grow at the highest CAGR of approximately 21.6%, in terms of revenue, during the forecast period.
- On the basis of application, the automobile segment is projected to grow at the highest CAGR of approximately 22.2%, in terms of revenue, during the forecast period.
- Asia-Pacific region is projected to grow at the highest CAGR of 22.0%, in terms of revenue, during the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic had a mixed impact on the transparent solar cells market. While the disruptions caused by the pandemic were challenging for many companies, the growth in demand for sustainable building materials and renewable energy is expected to create new opportunities for the market in the years ahead. As the technology continues to improve and costs come down, transparent solar cells are projected to become an increasingly important source of renewable energy for both residential and commercial applications.Companies Mentioned
- Physee
- Polysolar
- Onyx Solar Group LLC
- EnergyGlass
- Sharp Corporation
- Ubiquitous Energy, Inc.
- Brite Solar
- SolarScape Enterprises Ltd
- Heliatek
- Xiamen Solar First Energy Technology Co., Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 286 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 12.2 million |
| Forecasted Market Value ( USD | $ 83.5 million |
| Compound Annual Growth Rate | 21.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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