How is Rising Pollution Level Powering Growth Dye-Sensitized Solar Cells Market to Prosperity?

The global dye-sensitized solar cells market generated a revenue of $28,451.4 thousand in 2017 and is predicted to reach a valuation of $60,589.4 thousand by 2023. The increasing requirement for solar energy and the implementation of strict government regulations in several countries regarding the usage of solar modules are the main factors driving the progress of the market.

This would be because of their increasing applications in building envelops such as ceilings, tiles, rooftops, and façades. The increasing demand for building-integrated photovoltaics (BIPVs) is another major factor driving the sales of dye-sensitized solar cells across the world. Due to the reducing prices of solar panels, the rapidly improving efficiency of various solar modules, and the enactment of government initiatives and policies aimed at boosting the usage of solar energy, the global demand for BIPVs is soaring quickly.

Many governments are offering tax credits, subsidies, and feed-in tariff for encouraging the adoption of solar power and ensuring that the electricity produced from solar energy reaches price parity with the power generated from conventional energy sources such as fossil fuels. In addition to this, the provision of competitive bidding is promoting the usage of photovoltaics (PVs) in various countries. These factors are subsequently augmenting the sales of dye-sensitized solar cells, thereby propelling the progress of the industry.

When application is taken into consideration, the market for dye-sensitized solar cells is classified into BIPVs, portable charging, embedded electronics, solar chargers, outdoor advertising, wireless keyboards, automotive-integrated photovoltaics (AIPVs), emergency power in military, and building-applied photovoltaics (BAPVs). Out of these, the BIPVs recorded the highest growth in the market in the past years. This was because of the high usage of BIPVs in various installations, both forthcoming and pre-existing, across the globe.

Thus, it is quite clear that the market will record huge expansion across the world in the coming years, mainly because of the rising popularity of solar energy and the increasing implementation of favorable government policies regarding the usage of solar energy for power generation in several countries around the world.

Read More: https://www.psmarketresearch.com/market-analysis/dye-sensitized-solar-cells-market

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