The transparent solar cells market size was valued at $12.2 million in 2021, and transparent solar cells industry is estimated to reach $83.5 million by 2031, growing at a CAGR of 21.3% from 2022 to 2031. Transparent solar cells are specialized types of solar panels that can be integrated into windows, skylights, and other glass surfaces to generate electricity while still allowing natural light to pass through.
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The transparent solar cells market has the potential for a
wide range of applications due to its transparent nature. For example,
transparent solar cells can be used in windows, skylights, and facades of
buildings, as well as in automobile windshields and mobile devices. This
flexibility allows for a broader range of potential customers and markets, as
well as the potential for new and innovative product offerings.
In addition, the integration of transparent solar cells into
existing infrastructure and products can provide additional value and cost
savings, such as reducing the need for separate solar panel installations and
minimizing energy consumption for cooling buildings. The abovementioned factors
are projected to provide many opportunities for the development of the
transparent solar cells market growth.
The appearance and durability of transparent solar cells can
be a limiting factor in their adoption for power generation. They are designed
to be aesthetically appealing and blend in with the building's architecture,
however, are more susceptible to damage due to their transparent nature. In
addition, the cost of producing transparent solar cells is high, making them
more expensive than traditional solar panels. This can limit adoption in
markets where appearance, durability, and cost are key considerations.
However, as the technology continues to improve and the cost
of production decreases, it is likely that transparent solar cells are
anticipated to become more competitive with traditional solar panels.
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The transparent solar cells market forecast 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.
By cell type, it is divided into thin film photovoltaics,
polymer solar cells, and others. The thin film photovoltaics segment accounted
for the largest revenue share in the global transparent solar cells market in
2021.
By transparency type, it is bifurcated into partial and
full. The full segment accounted for the largest revenue share in the global
transparent solar cells market in 2021 creating new transparent solar cells
market opportunities during the forecast period.
On the basis of application, the building-integrated
photovoltaics segment accounted for 45.1% of the transparent solar cells market
share in 2021 and is expected to maintain its dominance during the forecast
period.
Region-wise, Europe accounted for the largest market share
in the market and Asia-Pacific is projected to grow at a CAGR of 22.0% during
the forecast period. The demand for renewable energy technologies and
energy-efficient buildings in Europe has driven the transparent solar cells
market trends.
The Asia-Pacific region has a large population base with
rapidly developing countries, hence leading to the demand for electricity from
renewable resources. Furthermore, ongoing infrastructure activities in the
developed countries in this region will have a significant impact on the
transparent solar cells market. This will provide lucrative opportunities for
the growth of the transparent solar cells market.
Key Findings of the Study
- As per transparent solar cells market analysis, on the
basis of cell type, the thin film photovoltaics segment emerged as the global
leader by acquiring more than 40% of the transparent solar cells market share
in 2021 and is anticipated to continue this trend during the forecast period.
- On the basis of type, the full transparency type segment emerged as the
global leader by acquiring more than 50% of the transparent solar cells market
share in 2021 and is anticipated to continue this trend during the forecast
period.
- On the basis of application, the buildings integrated photovoltaics segment
emerged as the largest market share in 2021 which accounted for 45% and is
anticipated to continue this trend during the forecast period.
- On the basis of region, Europe is the major consumer of transparent solar
cells among other regions. It accounted for around 30% of the global market
share in 2021.
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Competitive Landscape
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.
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Allied Analytics LLP
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