Global Graphene Solar Cell Market Report and Forecast 2024-2032

Global Graphene Solar Cell Market Outlook

The global graphene solar cell market size is estimated to grow at a CAGR of 11% in the forecast period of 2024-2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Rising Demand in the Utilities Sector to Propel the Market Growth of Graphene Solar Cell

Based on application, the growing demand for graphene solar cells in the utility sector, particularly in power generation, is driving the market growth. The rapid urbanisation and the increasing demand for electricity in digitally connected devices are leading to the expansion of renewable energy sources like solar cells. Graphene-based solar cells are one of the most affordable sources of electricity, which is bolstering their installation on a commercial scale. 

The properties of graphene, like high optical transparency, carrier mobility, zero-band gap, and high mechanical strength, are fuelling its use as a photovoltaic material in solar cells to create an electric current when exposed to sunlight. Various governments are utilising graphene solar cells owing to their self-cleaning properties for boosting their power-generating capacities, which is playing a critical role in the graphene solar cell market development. 

Market Segmentation

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Graphene, a one-atom-thick sheet of carbon, is used as a non-reflective covering on solar cells to increase energy absorption. Graphene solar cells are extremely strong, transparent, conductive, flexible, and cost-effective as they are made of carbon, an abundant material. They are widely used in residential, industrial, and commercial sectors, among others.

The graphene solar cell market by type is divided into:

• Monocrystalline

• Polycrystalline

• Thin Film

Based on application, the market is segmented into:

• Residential

• Commercial

• Industrial

• Utilities

The regional markets for graphene solar cell can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Growing Dependency on Renewable Energy Sources to Drive the Market Growth of Graphene Solar Cell

The rising dependency on cost-effective and efficient renewable energy sources like solar cells for power generation is surging the application of graphene-based solar cells to reduce the reflectivity of solar rays and drive efficient absorption of energy. The growing eco-consciousness and the emerging shift towards clean and renewable sources amid the increasing energy needs are favouring the graphene solar cell market demand. 

Graphene possesses exceptional characteristics, such as remarkable electrical characteristics, lightweight, exceptional strength, durability, and transparency, due to which it is preferred as an alternative to conventional materials like indium tin oxide and silicon in solar cells. Additionally, graphene-based solar cells are cost-effective as they are made from inexpensive carbon, and their flexibility is enabling the production of a wide range of solar cells that can turn any surface into a source of electric power. 

Graphene-based organic solar cells also absorb the ultraviolet and infrared components of sunlight and transmit the visible part that the human eyes can detect. Their flexibility and lightweight also make their transportation to remote regions with no central power grid possible. Furthermore, the growing research and development activities to improve the efficiency of graphene-based organic solar cells are expected to augment the graphene solar cell market growth over the forecast period.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Players in the Global Market for Graphene Solar Cell

The report gives a detailed analysis of the following key players in the global graphene solar cell market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• ZNSHINE PV-TECH Co.,Ltd

• Elcora Ltd.

• Verditek PLC

• GCL System Integration Technology Co. Ltd

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report