According to a market report by Lucintel, the future of the global biohybrid solar cell market looks promising with opportunities in the battery storage, solar lighting, commercial, and military and aerospace markets. The global biohybrid solar cell market is expected to reach an estimated $2.3 billion by 2030 with a CAGR of 11.2% from 2024 to 2030. The major drivers for this market are developments in technology to lower the cost of producing biohybrid solar cells, increasing uses for residential rooftop solar power, declining carbon emissions, and growing demands for clean energy output.
In this market, silicon
crystal, cadmium telluride, and gallium arsenide. are the major segments of
biohybrid solar cell market by material.
Lucintel forecast that
cadmium telluride is expected to witness highest growth over the forecast
period because the thin-film solar cells have the quickest payback period and
produce the least carbon emissions, as well as, it is widely adopted owing to
low costs in comparison to other materials.
Within this market,
battery storage will remain the largest segment because the most widely used
type of solar cell for battery storage is the biohybrid variety, which has
significantly higher efficiency in solar power conversion and storage.
North America is
expected to witness highest growth over the forecast period because of the
strong infrastructure, strict government laws governing carbon emissions,
environmentally friendly developments, and a rising trend in the use of
renewable energy sources.
Greatcell, Exeger
Operations, Fujikura, G24 Power, Konica Minolta Sensing, Merck, Oxford, Sharp,
and Sony are the major suppliers in the biohybrid solar cell market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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