Transparency Market Research discusses the potential of the global dye sensitized solar cell market in its latest research report. The research report, titled “Dye Sensitized Solar Cell Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023,” provides an insightful understanding of the drivers and restraints impacting the overall market. The report also discusses the region-wise outlook and other key segments of the market. According to analysts, the availability of dye sensitized solar cells at low cost is boosting their adoption.
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The global dye sensitized solar cell market is growing to a large extent owing to the rising awareness among consumers about the adverse environmental impacts of fossil fuels. A rise in the carbon emissions is also propelling consumers to opt for solar cells, thus driving the market. The increasing demand for energy derived from renewable sources is another reason behind the growth of the market. The market is also benefitting from technological advancements which have caused the production cost to drop, thus boosting the demand for sensitized solar cells. However, issues pertaining to their performance limitations may impede the market’s growth.
The introduction of new technological advancements in the next few years will help outperform the existing solar cell platforms, both in terms of economies of scale and performance, which is expected to act as an opportunity for growth in the global dye sensitized solar cell market. The emerging technologies are expected to exhibit better efficiency levels, which will heighten their demand.
On the basis of geography, the global dye sensitized solar cell market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, Europe is leading the market. The European Commission’s endeavors to limit the reliance on fossil-based fuel and encourage clean energy projects are behind the growth of the DSSCs market in the region. Moreover, the high rate of implementation in BIPV and portable electronics applications is also driving the demand for dye sensitized solar cells. However, analysts say that Asia Pacific is projected to expand at the most impressive CAGR in the coming years.
Key companies profiled in the report include Konica Minolta Sensing Europe B.V., 3GSolar Photovoltaics, and Fujikura Ltd. The report gives important information pertaining to these key players such as the strategies adopted by them and their recent developments. Information regarding mergers and acquisitions is also given in the market. This is expected to help new entrants and established players make profitable investments in the market.
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