Perovskite solar cells are solar cells that utilize perovskite structured materials as light absorbing materials, also known as third-generation solar cells or new concept solar cells. Its structure can be represented by ABX3, where the A site is usually an organic cation, the B site is a lead ion or stannous ion, and the X site is a halide anion. ‌

Analysis of Market Development Status and Prediction of Future Prospects

Current situation analysis:

Market size: In recent years, the global perovskite solar cell market has grown rapidly. According to our research data, the estimated revenue of the global perovskite solar cell market in 2024 is $412 million, an increase of 89.38% compared to 2023.

Technological breakthrough: Perovskite solar cells have high theoretical conversion efficiency, with single junction cells reaching up to 33%, and stacked cells having higher efficiency, lower cost, and simple preparation process. ‌

Industrialization process: Perovskite solar cells have entered the early stage of industrialization, with multiple hundred megawatt pilot lines completed and put into operation, and GW level production lines being planned and expected to be gradually implemented. ‌

Prospect trend:

Market demand: Perovskite solar cells have a wide range of application scenarios and can be used in multiple fields such as photovoltaic buildings and new energy vehicles, with enormous market demand potential. It is expected that the market will continue to expand in the coming years. By 2029, the global perovskite solar cell market revenue is expected to increase to $2382 million. The CAGR for 2024-2029 is estimated to be 42.04%.

Technological progress: With the continuous breakthrough of technology, the stability and large-area preparation of perovskite solar cells will gradually be solved, and the cost and efficiency are expected to continue to break through. ‌

Policy support: Governments around the world have introduced policies to encourage the development of the perovskite solar cell industry, providing strong support for market growth. ‌

Source: www.globalmarketmonitor.com

Analysis of Downstream Application Pattern

From the perspective of downstream application patterns, perovskite solar cells are widely used in various fields such as construction, energy, automotive, aerospace, and consumer electronics. Among them, the construction industry is the largest downstream application market, with an estimated application share of 45.31% in 2024.

Applications	Market Revenue (Million USD)	Market Share
Construction	187	45.31%
Energy	36	8.80%
Automotive	82	19.86%
Aerospace	26	6.28%
Consumer Electronics	43	10.31
Others	39	9.44