The perovskite solar cell market is projected to grow from USD 271 million in 2024 to USD 2,268 million by 2028, registering a CAGR of 70.1% during the forecast period. The market growth is expected to be driven by the rising demand for energy, increasing government-led support in several countries, and growing concerns regarding environmental safety.
Major perovskite solar cell market players have primarily adopted partnership and collaboration strategies to strengthen their market positions.
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Hanwha Q CELLS (South Korea), Microquanta Semiconductor (China), Oxford PV (UK), Greatcell Energy (Australia), and Saule Technologies (Poland) are the major players operating in this market.
HANWHA Q CELLS
Hanwha Q CELLS is engaged in designing, manufacturing, and distributing PV modules for the residential, commercial, industrial, and utility markets. The company was publicly listed until December 2018. The ownership type was changed to private in January 2019 as it merged with Hanwha Solar Holdings Co. (South Korea) and now operates as a wholly owned subsidiary of Hanwha Chemicals. Hanwha Q CELLS offers a broad portfolio of PV modules. It includes ~13 variants of PV modules, monocrystalline modules, and polycrystalline modules. The PV modules offered by the company can be installed on the ground and rooftop.
The company is involved in the research and development of perovskite solar cells. In March 2022, the company collaborated with Helmholtz-Zentrum Berlin (HZB), a German research institute, to achieve a power conversion efficiency of 28.7% for a two-terminal perovskite silicon tandem solar cell.
Microquanta Semiconductor was founded by Dr. Jishong Yao and Dr. Buyi Yan in Hangzhou city in 2015. It is one of the leading companies in the research and development of perovskite solar cells and smart manufacturing equipment. The company works on innovating perovskite solar cells to improve their efficiency. A team of intellectuals among the top talent in the field of science and technology in the Hangzhou region leads the company. The company has raised a series of funding from Three George Capitals, Beijing Energy Holding, Quzhou Financial Holding, and other investors for the innovation and development of perovskite solar cells.
Perovskite Solar Cell Market by Type of Structure (Planar and Mesoporous), Product (Rigid and Flexible), Vertical (Aerospace & Defense, Residential, Commercial, Industrial, and Utility), Type, Application, Technology and Region – Global Forecast to 2028
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