A dye-sensitized solar cell also called a Grätzel cell is based on semiconductor and belonging to the group of thin film solar cells. The DSSC is low cost, semi-flexible and semi-transparent solar cell. The key application of the DSSC includes portable charging, solar chargers, wireless, keyboards, emergency power in the military, automobile-integrated photovoltaics, building-integrated photovoltaics, building-applied photovoltaics, embedded electronics, outdoor advertising, and many others. Increasing Government Initiatives for Promoting Solar Power Energy such as European Union Photovoltaic Roadmap and emergence of new portable and indoor application of DSSC such as USB charging box, lamps, and others have been supplementing the growth of the market. However, high-temperature stability problem due to the liquid electrolyte in DSSC and the presence of volatile organic compounds in DSSC are hazardous to the environment and human health are the factors that are limiting the market. Moreover, increasing advancement in fabrication technology and increasing demand for clean energy across the globe due to high environmental concern can create a new opportunity for the market.According to AMA, the market for Dye-sensitized Solar Cells is expected to register a CAGR of 12.3% during the forecast period to 2024. This growth is primarily driven by Increasing Government Initiatives for Promoting Solar Power Energy and Rising Demand from Developing Economies due to Increasing Awareness about Adverse Environmental Impacts of Fossil Fuels.
Globally, a noticeable market trend is evident An Emergence of New Portable and Indoor Application of DSSC such as USB charging Box, Lamps and others. Major Manufacturers, such as Fujikura Ltd. (Japan), Konica Minolya (Japan), Sensing Europe B.V (Sweden), 3GSolar, Ltd. (Israel), GreatCell Solar (Australia), Solaronix SA (Switzerland), G24 Innovation Ltd. (United Kingdom), Solaris Nanosciences Corporation (United States), CSIRO (Australia) and EXEGER Sweden AB (Sweden) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On November 15, 2016, Fujikura Ltd. Has announced new development of dye-sensitized solar cell for energy harvesting applications. The new development is done for new IoT application that has the number of sensors that requires power to sense.
- Increasing Government Initiatives for Promoting Solar Power Energy
- Rising Demand from Developing Economies due to Increasing Awareness about Adverse Environmental Impacts of Fossil Fuels
- An Emergence of New Portable and Indoor Application of DSSC such as USB charging Box, Lamps and others
- High-Temperature Stability Problem due To Liquid Electrolyte in DSSC
- Presence of Volatile Organic Compounds in DSSC is Hazardous to Environment and Human Health
Increasing Advancement in Fabrication Technology and Increasing Demand for Clean Energy across the Globe due to High Environmental Concern
Expensive Material Used in DSSC such as Platinum and Ruthenium has Increasing Overall Cost of the Product
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