Next Generation Solar Cells Market: By Material (Polycrystalline Silicon, Monocrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide (CIGS) and Others), By Nanomaterial (Nanowires, Quantum Dots, Graphene), and Geography

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Next Generation Solar Cells Market size was valued at USD 19,281.2 million in 2022 and is projected to grow at an 18.3% CAGR from 2023 to 2029. The Next-generation Organic Solar Cell refers to a form of organic photovoltaic that uses organic electronics, a subset of electronics that converts sunlight into electricity with the help of thin layers of organic semiconductors. The vast majority of these organic photovoltaics are compound cell solar. It has a photosensitive nature of organic matter as a semiconductor material, and to achieve the effect of solar power, the photovoltaic consequence of the voltage is formed with the help of currents. The next-generation organic solar cell materials are substantially more stable at high temperatures and benefit from electro-optical characteristics. Based on the nanomaterial type, the global next-generation solar cells market is segmented into Nanowires, Quantum Dots, and Graphene. The Quantum Dots segment is anticipated to grow at a significant CAGR over the forecast years. Due to its distinct size-dependent optoelectronic characteristics. Considering the need to provide a large amount of electricity, low-cost PV techniques are urgently required. To meet cost and performance targets, the emerging third-generation PVs including dye-sensitized solar cells (DSSCs), perovskite solar cells (PSCs), organic photovoltaic (OPV), and quantum-dot sensitized solar cells (QDSSCs) have been introduced. The main features of third-generation PVs are simple manufacturing, low cost, and high performance. The worldwide energy crisis, environmental pollution, stringent regulations, and provisions of government incentives and tax rebates to install solar panels are the primary factors driving the global next-generation organic solar cell market.

Next Generation Solar Cells Market Key Developments:
  • In January 2020, Denmark's Aarhus University undertook a research project to develop tiny organic PV technology. This technique has the potential to be utilized to create light-based, neural-stimulating scaffolds inside the human body.

Next Generation Solar Cells Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

18.3%

Largest Market

Europe

Fastest Growing Market

North America
Next Generation Solar Cells Market Dynamics

Solar energy cannot be considered a large-scale energy source in practice. Due to low energy conversion rates compared to conventional fuels, renewable energy cannot compete with traditional sources. The growing need for commercial renewable energy approaches and rising fossil fuel prices drive investment in the next-generation photovoltaic sector. When compared to traditional means of energy generation, photovoltaic cells' high initial costs and low conversion efficiency render this technology ineffective. Thin PV cell makers are exploring alternatives to cadmium telluride, commonly utilized in manufacturing thin cells. Copper indium gallium selenide solar cells are a significant breakthrough widely adopted by next-generation thin-film solar manufacturers. The high initial expenses in testing next-generation photovoltaic technology are a significant impediment to the market's future growth.

Next Generation Solar Cells Market Segmentation

By Material
  • Polycrystalline Silicon
  • Monocrystalline Silicon
  • Cadmium Telluride
  • Copper Indium Gallium Selenide (CIGS)
  • Others
By Nanomaterial
  • Nanowires
  • Quantum Dots
  • Graphene
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA
LOCATION

Geography

Frequently Asked Questions

The next-generation solar cells market size was valued at USD 19,281.2 million in 2022

The next-generation solar cells market key players are: Heliatek (Germany) ARMOR (France) infinityPV ApS (Denmark) Solarmer Energy, Inc. (U.S.) NanoFlex Power Corporation (U.S.) Optodot (U.S.), Eni (Italy) New Energy Technologies Inc. (U.S.) Novaled GmbH (Germany) Brite Solar (Greece)

The next-generation solar cells market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
1. Executive Summary
2. Global Next-Generation Solar Cells Market Introduction 
2.1.Global Next Generation Solar Cells Market  - Taxonomy
2.2.Global Next Generation Solar Cells Market  - Definitions
2.2.1.Material 
2.2.2.Nanomaterial 
2.2.3.Geography
2.2.4.Region
3. Global Next Generation Solar Cells Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Global Next Generation Solar Cells Market Analysis, 2018 - 2022 and Forecast 2023 - 2029
4.1.  Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Global Next Generation Solar Cells Market  By Material , 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
5.1. Polycrystalline Silicon
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Monocrystalline Silicon
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Cadmium Telluride
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Copper Indium Gallium Selenide (CIGS)
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Others
5.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
6. Global Next Generation Solar Cells Market  By Nanomaterial , 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
6.1. Nanowires
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Quantum Dots
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Graphene
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
7. Global Next Generation Solar Cells Market  By Geography, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Europe
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. The Asia Pacific
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Latin America
7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. MEA
7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8. Global Next Generation Solar Cells Market  By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9. North America Next Generation Solar Cells Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
9.1. Material  Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Polycrystalline Silicon
9.1.2.Monocrystalline Silicon
9.1.3.Cadmium Telluride
9.1.4.Copper Indium Gallium Selenide (CIGS)
9.1.5.Others
9.2.  Nanomaterial  Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Nanowires
9.2.2.Quantum Dots
9.2.3.Graphene
9.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.North America
9.3.2.Europe
9.3.3.The Asia Pacific
9.3.4.Latin America
9.3.5.MEA
9.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10. Europe Next Generation Solar Cells Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
10.1. Material  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Polycrystalline Silicon
10.1.2.Monocrystalline Silicon
10.1.3.Cadmium Telluride
10.1.4.Copper Indium Gallium Selenide (CIGS)
10.1.5.Others
10.2.  Nanomaterial  Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Nanowires
10.2.2.Quantum Dots
10.2.3.Graphene
10.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.North America
10.3.2.Europe
10.3.3.The Asia Pacific
10.3.4.Latin America
10.3.5.MEA
10.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11. Asia Pacific (APAC) Next Generation Solar Cells Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
11.1. Material  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Polycrystalline Silicon
11.1.2.Monocrystalline Silicon
11.1.3.Cadmium Telluride
11.1.4.Copper Indium Gallium Selenide (CIGS)
11.1.5.Others
11.2.  Nanomaterial  Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Nanowires
11.2.2.Quantum Dots
11.2.3.Graphene
11.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.North America
11.3.2.Europe
11.3.3.The Asia Pacific
11.3.4.Latin America
11.3.5.MEA
11.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Next Generation Solar Cells Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
12.1. Material  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Polycrystalline Silicon
12.1.2.Monocrystalline Silicon
12.1.3.Cadmium Telluride
12.1.4.Copper Indium Gallium Selenide (CIGS)
12.1.5.Others
12.2.  Nanomaterial  Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Nanowires
12.2.2.Quantum Dots
12.2.3.Graphene
12.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.North America
12.3.2.Europe
12.3.3.The Asia Pacific
12.3.4.Latin America
12.3.5.MEA
12.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13. Latin America Next Generation Solar Cells Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
13.1. Material  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Polycrystalline Silicon
13.1.2.Monocrystalline Silicon
13.1.3.Cadmium Telluride
13.1.4.Copper Indium Gallium Selenide (CIGS)
13.1.5.Others
13.2.  Nanomaterial  Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Nanowires
13.2.2.Quantum Dots
13.2.3.Graphene
13.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.North America
13.3.2.Europe
13.3.3.The Asia Pacific
13.3.4.Latin America
13.3.5.MEA
13.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Heliatek (Germany)
14.2.2.ARMOR (France)
14.2.3.infinityPV ApS (Denmark)
14.2.4.Solarmer Energy, Inc. (U.S.)
14.2.5.NanoFlex Power Corporation (U.S.)
14.2.6.Optodot (U.S.), Eni (Italy)
14.2.7.New Energy Technologies Inc. (U.S.)
14.2.8.Novaled GmbH (Germany)
14.2.9.Brite Solar (Greece)
15. Research Methodology 
16. Appendix and Abbreviations 
  • Heliatek (Germany)
  • ARMOR (France)
  • infinityPV ApS (Denmark)
  • Solarmer Energy, Inc. (U.S.)
  • NanoFlex Power Corporation (U.S.)
  • Optodot (U.S.), Eni (Italy)
  • New Energy Technologies Inc. (U.S.)
  • Novaled GmbH (Germany)
  • Brite Solar (Greece)

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