February 06, 2018
WELLESLEY, Mass., Feb. 6, 2018–Research and development activities related to the production of perovskite solar cells has increased dramatically in recent years, leading to the first steps in their commercialization, according to the first-ever report by BCC Research. These devices have promising potential for use in the construction, architectural, infrastructure and electronics sectors.
The global market is expected to see a compound annual growth rate (CAGR) of 7.0% through 2022, when the sector could be worth $5.2 billion, according to the report Perovskite Solar Cells: Materials, Fabrication and Global Markets.
Perovskites are materials with a unique crystal structure that enable them to be used in a number of fields. Though they are most commonly synthesized in the form of oxides, their use in halides have seen increasing popularity in recent years due to their semiconducting properties. Unit prices are expected to continue dropping in order to remain competitive with crystalline silicon.
Major patent holders in the industry mentioned in this report include Sekisui Chemical, Fujifilm, Global Frontier Center For Multiscale Energy Systems, Hunt Energy Enterprises, LG Chem, Research & Business Foundation Sungkyunkwan University, Massachusetts Institute of Technology, Ecole Polytechnique Federale de Lausanne and Huazhong University of Science and Technology, among others.
Research Highlights
“Perovskite solar cells are considered by many the most promising technology in the field of photovoltaics, capable of reaching record efficiencies within the next five years, surpassing traditional crystalline silicon cells,” said BCC Research analyst and report author Margareth Gagliardi. “Cell efficiency has increased tenfold in less than 10 years. Cell stability, which is currently one of the main drawbacks for commercialization, has reached 10,000 hours in 2017 from 1,000 hours in 2016. Thin film fabrication processes will help to make this technology very cost-effective when compared to traditional solar cells and allow for the fabrication of novel cell configurations, driving rapid market growth during the next 10 years.”
Interest in Perovskite Solar Cells Reflected in Global Patent Trends
The number of patents issued since 2014 has increased significantly, the report noted. In 2014, an average of 1.7 perovskite solar cell patents were issued each month—that figured increased to 2.9 per month in 2015, 3.9 per month in 2016 and 4.7 per month in 2017. Overall, patents per month have increased at a CAGR of more than 40% since 2014.
“Generally speaking,” Gagliardi wrote, “an average of three patents per month or more indicates significant interest in a particular technology.”
The Asia-Pacific region accounts for the largest number of patents, with a share of nearly 54% of the market. The U.S. followed with a share of 21.7%. Companies in Europe represent 17% of the world total. Although it leads the world in number of patents, the Asia-Pacific region saw a CAGR of -15.7% from 2016 to 2017, while Europe saw a 62.3% increase.
Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.
Qualified members of the press can also request permission to access the BCC Research library.
Perovskite Solar Cells: Materials, Fabrication, and Global Markets( EGY144A )
Publish Date: Jan 2018
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.