Globally, the demand for dye-sensitized solar cells has increased at a rapid rate due to the material used in it and it s form of energy and is photoelectrical system where, a semiconductor is formed between photo-sensitized anode and electrolyte. Moreover, rising awareness among consumers about the negative environmental impacts of fossil fuels is likely to contribute in the growth of dye-sensitized solar cells market in the coming years.
Adding further, growing use of advanced dye-sensitized solar cells that are capable of out doing solar cell panels have also boosted growth in the global dye-sensitized solar cells market. Growing demand for dye-sensitized solar cells in new buildings integrated with advanced technology and photovoltaic system is also projected fuel growth in this market. Along with the market driver, various regional aspects, ongoing trends, competition analysis, and few challenges together builds the market more competitive and enhances its prospects of growth. With all these information, key market participants will be able to take better and well-informed decisions to establish themselves in a much better way.
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Global Dye-Sensitized Solar Cells Market: Notable Developments
Some of the recent developments taking place in the global customer micro grids market include:
- Large-scale collaboration is seen between Dyesol and Tata Steel in UK. With this collaboration, both the companies are expected to strengthen their position in the global market.
- Another example is of Exeger who received US$20 million investment. The company is also developing a 20 MW production line in Stockholm. The company further aims to develop DSSC incorporating by employing its proprietary 1-dimensional photonic crystal (1DPC) technology.
Few other prominent players are focusing in various organic and inorganic activities that will provide a significant boost in the global dye-sensitized solar cells market. G24 Innovation Ltd., Fujikura Ltd., 3GSolar Photovoltaics, Konica Minolya, Dyesol Ltd., Sensing Europe B.V, Solaronix, Solaris Nanosciences Corporation, EXEGER Sweden AB, CSIRO, and Merck KGaA are few other leading players operating in this global market.
Global Dye-Sensitized Solar Cells Market: Trends and Opportunities
Increasing concerns related to carbon footprint has further boosted growth in the global dye-sensitized solar cells market. Manufacturers operating in the global dye-sensitized solar cells market are concentrating on indoor or portable applications; this is likely to explore new growth opportunities in major application of dye-sensitized solar cells in outdoor advertising, electronics, automotive, steel roofing, and bus shelters. All these factors along with many other will boost growth in this market in the forthcoming years. Ongoing research on these cells is majorly been focused on modification or overhaul of their structure, development of new raw materials, and commercial application of research findings
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Asia Pacific Offering Lucrative Growth Opportunities for Dye-Sensitized Solar Cells
With respect to geography, Europe is expected to lead the global dye-sensitized solar cells market over the forecast period. Increasing efforts made by the European Commission to reduce reliance on fossil fuels and spread awareness about the clean energy projects has made Europe lead the global dye-sensitized solar cells market. Moreover, introduction of new and advanced technologies and its implementation in portable electronics and BIPV is also projected to drive demand for dye-sensitized solar cells in this market.
Other regions including Asia Pacific, Latin America, North America, and the Middle East and Africa are also analyzed in this report. Of these, Asia Pacific is expected to hold larger share in the market in the forthcoming years. Increasing demand for these cells in portable chargers, BAPVs is the key factors surging demand in Asia Pacific dye-sensitized solar cells market.
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