Dye Sensitized Solar Cell Market: Overview
The global dye sensitized solar cells (DSSCs) market is gaining from the growing awareness among consumers about the adverse environmental impacts of fossil fuels, coupled with the increasing demand for energy from renewable sources. Dye sensitized solar cells, along with photovoltaic cells, represent the third generation of solar technologies, which are expected to offer added functionality at lower cost.
Dye sensitized solar cells are thin film solar cells that are available at a low cost. A DSSC has numerous attractive features: It is semi-transparent and semi-flexible and offers various uses but none applicable to glass-based systems. DSSCs are made using conventional roll-printing techniques and the majority of materials used in it are available at a pocket-friendly price.
The introduction of new advances in the next few years will help outperform the emerging solar cell platforms, both in terms of economies of scale and performance. Hence, enterprises operating in the DSSC market will need to focus on niche segments that will allow them to achieve growth in the near future. As with other emerging technologies, cost benefits may not be immediately obvious owing to low volume of production. Nevertheless, it is of interest to technology developers, material providers, as well as adopters to closely follow the DSSC market and understand its impact on the market for sustainable energy.
The report presents a comprehensive overview of the global dye sensitized solar cells market. It studies the growth trajectory exhibited by the market between 2016 and 2023. The factors influencing the demand for DSSCs are studied in detail. The report also presents an in-depth analysis of the prevailing competitive landscape.
Dye Sensitized Solar Cell Market: Key Opportunities and Threats
The rising demand for solar energy is the key factor boosting the global dye sensitized solar cell market. The market is also gaining from the recent technological advancements that have resulted in the lowered cost of production. Manufacturers of dye-sensitized solar cells are presently concentrating on indoor or portable applications; they are thus expected to explore opportunities in major application segments such as electronics, outdoor advertising, automotive, bus shelters, and steel roofing.
The increasing environmental concerns due to the rising carbon emissions are also expected to fuel demand from the global dye-sensitized solar cells market over the forecast period. Furthermore, the market is also expected to gain impetus from the increasing demand for building integrated photovoltaic system (BIPV).
Despite witnessing favorable growth opportunities worldwide, the growth exhibited by the global DSSCs market will be inhibited by issues pertaining to their performance limitations. There is a marked difference between the best performance reported by DSSCs when compared to technologies that have been under development for a longer period of time. The emerging technologies are seen to exhibit better efficiency levels. It is thus considered important for the enterprises operating in the market to identify suitable initial applications for DSSCs in order to achieve faster commercialization.
Dye Sensitized Solar Cell Market: Region-wise Outlook
Regionally, the global dye sensitized solar cell market is led by Europe. The European Commission’s aim of reducing the reliance on fossil-based fuel and encouraging clean energy projects is expected to boost the DSSCs market in the region. Additionally, the introduction of the latest technologies and the high rate of implementation in BIPV and portable electronics applications is further expected to steer the demand for dye sensitized solar cells in the near future.
During the forecast period, Asia Pacific is expected to report the highest CAGR among all regional markets.
Dye Sensitized Solar Cell Market: Competitive Insight
To study the prevailing competitiveness in the market the report profiles companies such as Fujikura Ltd., Konica Minolta Sensing Europe B.V., and 3GSolar Photovoltaics.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.