Graphene Solar Cell Market Size, Share & Industry Analysis, By Type(Monocrystalline, Polycrystalline, Thin Film), By Application (Residential, Commercial, Industrial, Utilities) and Regional Forecast, 2024-2032

The graphene is used as a doping material in the solar modules to increase the working efficiency of the solar modules as the transparency percent obtained with the use of graphene is higher than other presently used materials in solar panels. It is also considered as a wonder material because of its high conductivity and flexibility.

 Graphene solar modules also offer the advantage of harvesting electricity in the presence of rains. As graphene is made up of carbon it acts as an inexpensive material to be used in solar modules as carbon is available in abundance. Graphene is a great conductor and current research and development programs are being run in various institutes to modify graphene in a particular way to collect the electric current produced inside a solar cell.

Key Market Driver -

Key Market Driver – High efficiency provided as compared to other counterparts

Key Market Restraint -

Key Market Restraint – Increased adoption of silicon based modules

The other advantages that would be offered by the use of graphene in the solar modules include flexibility, lightweight, and easy transportation. These all factor collectively will drive the growth of the global graphene solar cell market during the given forecast period.

On the basis of types, the global graphene solar cell market can be segmented into a monocrystalline, polycrystalline, and thin film. The thin-film solar modules have seen increased adoption in recent years and will dominate the global graphene solar cell market during the given forecast period.

Based on application the global graphene solar cell market can be segmented into residential, commercial, industrial and utilities. The increasing energy demand and urbanization have seen new power stations coming up, and therefore the utility segment will dominate the global graphene solar cell market in the given forecast period.

The major market driver for the global graphene solar cell market is the high efficiency provided by the graphene solar modules as compared to other counterparts. Also, the operation ability of these modules in rain which is their unique property will augment the growth of the global graphene solar cell market over the given forecast period.

The key market restraint for the global graphene solar cell market is the increased adoption of the silicon-based solar modules ,which will have a strong grip on the solar modules market in the coming years. Also the technical difficulties faced in the development of solar modules using graphene can hinder the growth of the global graphene solar cell market.

Key Players Covered

Some of the major companies that are present in the global graphene solar cell market are ZNShine, Elcora, Solargise, Verditek, Paragraf. Jinko Solar, and GCL System Integration.

Regional Analysis

With the trend of the developed and the developing countries shifting towards the increased adoption of the renewables, energy production using solar cells has gained pace. The global graphene solar cell market has spread into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. China is the largest country for the production of solar panels around the globe . It also leads the way in the innovation in technology used for the energy generation using solar.

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The use of graphene has experimented in the country, and solar modules involving graphene have been produced for increasing the efficiency of energy production. Technological advancements have also been experimented in North America and Europe for increasingly using graphene in solar cell manufacturing to take advantage of high efficiency and energy production during rains. The stringent government norms against pollution will fuel the growth of the graphene solar cells in North America and Europe region.

Segmentation

Key Industry Developments

• In June 2019, Verditek and Paragraf announced about their successful attempt to apply graphene to a solar photovoltaic cell as a part of their joint development program. They will continue to work on this cell to surpass the 25% efficiency target.


• In June 2019, The Chinese manufacturer of the solar module named ZNShine has announced about the signing of a contract with the UAE’s Etihad Energy Services for the supply of 100MW graphene-enhanced solar modules. This agreement came as a result of ZNShine’s participation in the tender launched by DEWA (Dubai Electricity and Water Authority).