Perovskite Solar Cell Market Size, Share, and Trends 2026 to 2035

Revenue, 2025

USD 267.19 Mn

Forecast Year, 2034

USD 4,182.69 Mn

CAGR, 2026 - 2035

31.66%

Report Coverage

Global

What is the Perovskite Solar Cell Market Size?

The global perovskite solar cell market size is estimated to be USD 267.20 million in 2025 and is predicted to grow from USD 370.70 million in 2026 to nearly USD 4,182.69 million by 2035, growing at a strong CAGR of 31.66% from 2026 to 2035.

Key Takeaways

• Asia Pacific accounted for the largest market share of 53.59% in 2025
• By structure, the mesoporous perovskite solar cells segment held the major market share of 51% in 2025.
• By product, the flexible perovskite solar cells segment contributed the highest market share of 59% in 2025.
• By Type, the hybrid PSCs segment generated the biggest market share of 64% in 2025.

Perovskite Solar Cell Market Overview

Perovskite-structured material serves as the active layer in perovskite solar cells (PSCs). Superior charge-carrier magnetic moments and absorption coefficient are provided by these materials. The term "perovskite solar cell" refers to a type of solar cell where the warm white active material is primarily made of a mixture of organic-inorganic lead. Perovskite solar panel installations and demand have both decreased since the start of lockdown events since they are depending on the solar power industry. Obstacles in the solar sector include a lack of skilled labor, adherence to socially unacceptable norms, a shortage of raw resources, a lack of construction tools, and operational constraints that cause projects to be delayed. As the administration and its ministries continue to implement strategies to maintain the pace of economic activity, the market recovery is anticipated to follow.

The Ministry of New and Renewable Energy in India has expanded exemptions for companies working in the sector of solar energy to carry out installations projects, movement of construction materials as well as other supplies required for the overall functioning of both domestic non-commercial as well as commercial developments.

According to information provided by the International Renewable Power Association, the African Union Council (AUC) and IRENA inked an agreement in April 2020 for the development of solar panels farms or other renewable technology incorporating decentralized systems. Moreover, to improve the continent of Africa's access to electricity. To ameliorate the state of the water supply, healthcare, and educational sectors and pull the country away from the pandemic's chaos, the cooperation aims to establish alternative energy sources. Such initiatives will boost solar energy requirements, which then in turn bodes well for cutting-edge technology like polycrystalline cells.

Perovskite Solar Cell Market Growth Factors

One of the newest types of photovoltaic cells that are flexible and lightweight is the perovskite solar cell. The light-harvesting active material of a solar cell with perovskite is made up of a perovskite-structured chemical, tin inorganic substance, and composite organic-inorganic leads. Due to ongoing advancements in renewable radiation, perovskite solar cells have a high performance in systems utilizing them and have seen major improvements in recent years. Additionally, these perovskite cells are employed as light absorbers due to their capacity for a wide range of light wavelengths, which enables them to transform solar power into energy and facilitates construction. The combining of solar cells using perovskite with silica is called a tandem cell.

Perovskite cells are projected to be used in a variety of applications because of their versatility and low weight. Gold is presently the accepted electrode element for photovoltaic devices. Due to the usage of gold as the electrocatalyst, perovskite solar cells are more expensive than conventional solar cells. The main obstacle for the perovskite solar panel business is the existence of the hazardous element lead (Pb). The market for solar cells with perovskite is being constrained by the hazardous substance employed in them, which also impacts the environment.

Perovskite solar cells are more advantageous than commercialized silica and other organic or inorganic solar energy because of their high effectiveness and low cost of production procedures and ingredients. In addition, these cells make it possible to increase the energy conversion efficiency beyond that which is possible with silicon solar cells. In 2020, the energy conversion effectiveness of solar cells utilizing metal bromide polycrystalline had achieved 25%. Therefore, it is anticipated that the market will rise due to polycrystalline solar cells' growing performance.

Perovskite Solar Cell Market Scope

Perovskite Solar Cell Market Dynamics

Key Market Drivers:

• The market for solar cells is growing - The key reason propelling the crystalline solar cell industry is the upsurge in the demand for solar energy owing to its adaptability and lightweight. Additionally, the market is benefited from the upsurge in applications from various sectors.
• Growing energy services today - The market is growing faster due to increased economic activity and energy stability. Additionally, the necessity to use current energy supplies to combat poverty and enhance the superiority of lifecycle has increased, which has helped the industry grow.
• Increase in the installation of solar systems - The market is also impacted by the rise in solar system installations. The market is expanding as a result of an increase in demand for perovskite solar cells due to the mounting essential to lower the cost of solar cell panels. Furthermore, the market for perovskite solar cells is positively impacted by rising urbanization, changes in lifestyle, an improvement in reserves, and higher consumer expenditure. Compared to traditional energy panels, perovskite-based solar cells are more readily available, cost-effective, and convenient to manufacture. These cells also provide remarkable power conversion, which results in high performance. Due to their increased acceptance, these characteristics are anticipated to significantly boost the perovskite solar energy industry.

Key Market Challenges:

• Variations in raw materials - It is anticipated that high production costs will limit market expansion. Additionally, throughout the projected timeframe of 2022–2030, changes in raw material prices are anticipated to pose a challenge to the perovskite solar energy market. This document on the perovskite solar panel industry information latest developments, import restrictions, import and export examination, business model, value chain enhancement, customer base, the effect of household and local market participants, analyzing possibilities in relations of evolving income compartments, changes in the restrictions, decisive market expansion analysis, market shares, categorization market overgrowth, implementation niche markets, and supremacy, leading to successful, new products, and more.

Key Market Opportunities

• They are flexible and lightweight - Due to their strong temperature dependence and magnetic characteristics, perovskite solar cells have a very large growth potential in the upcoming years. These devices also provide several additional benefits over traditional storage photovoltaics, such as the capacity to respond to various light wavelengths that are absorbed by the panels. They are also light and flexible, which will likely result in a rise in demand for them in the years to come.
• Growth in research and development - Additionally, the expansion of R&D activities creates lucrative prospects for market participants during the projected timeframe of 2023 to 2032. The market will grow even more as alternative sources of energy become more common.

Segment Insights

Structure Insights

The mesoporous perovskite solar cells segment held the largest market share of 51% in 2025. It was planer perovskite solar cells, and over the projected timeframe, it is anticipated to experience much higher revenue growth rates. Due to its application in thin-film photoelectric structures and remarkable electrical and optical properties, the sector of layered structure has experienced rapid expansion. It may be produced without a high-temperature method and is employed in mesoporous structures when the breadth of the layer is zero.

By 2035, the market value for mesoporous perovskite solar cells is anticipated to exceed USD 1.82 billion due to its widespread application in product manufacture and higher than 20% efficiency in power conversion. The category of flat solar cells using perovskite is predicted to drive market expansion due to rising demand.

Global Perovskite Solar Cell Market Size, By Structure, 2022-2025 (USD Million)

Product Insights

Which Product Dominates the Perovskite Solar Cell Market?

The flexible perovskite solar cells segment dominated the market and is expected to sustain the position, due to its lightweight nature. The Flexible peroxide solar cells are suitable for diverse applications in various industries. These cells can be designed to fit govt and irregular surfaces, which helps them expand their use in building-integrated photovoltaics (BIPV), consumer electronics, and electric vehicles.

The lightweight nature of flexible perovskite solar cells makes them suitable for portable devices and wearable technologies. The flexible parasite solar enables high performance in diverse conditions.

With increased demand in Smart, IoT-driven technologies and building-integrated photovoltaics (BIPV) for more flexibility, durability, and lightweight energy sources, the flexible perovskite solar cells segment is expected to reach significant growth over the forecast period.

The rigid perovskite solar cells segment is growing notably, due to its increased demand for high-performance applications. The rigid perovskite solar cells are designed to surpass conventional silicon cell efficiencies. The rising government and vendors' preference for renewable energy and push toward sustainability goals are fueling demand for the rigid perovskite solar cells.

Global Perovskite Solar Cell Market Size, By Product, 2022-2025 (USD Million)

Type Insights

What Made the Hybrid PSCs Lead the Perovskite Solar Cell Market?

The hybrid PSCs segment leads the market and is expected to sustain the position, due to its high thermal stability. The hybrid PSCs are engineered to handle intense heat without breaking. The ability of hybrid PSCs to balance high-power conversion efficiency, reduce production cost, and extend their lifespan makes them an ideal type of perovskite solar cells.

The multi-junction PSCs segment is expected to witness notable growth over the forecast period 2026 to 2035, due to its high-performance and efficiency. Multi-junction PSCs achieve superior efficiency through absorption of a large range of wavelengths, reaching 45% of the theoretical limits for double-junction and around 50% for triple-junction. The multi-junction PSCs are engineered to overcome the Shockley-Queisser limits, to restrict single-junction solar cells to a maximum efficiency of over 25-30%.

Global Perovskite Solar Cell Market Size, By Type, 2022-2024 (USD Million)

Technology Insights

Which Technology Dominates the Perovskite Solar Cell Market?

By technology, the vapor-deposition method segment dominated the market, driven by the need for superior control over film thickness and composition. The vapor-deposition method enables high-film quality and uniformlily withim minimal defects. The vapor-deposition methodincludes techniques like physical vapor deposition (PVD) and chemical vapor deposition (CVD) for high control over film composition and thickness.

The vapor-assisted solution method is the fastest-growing segment in the market. Vapor-assisted solution method enables superior film quality, optimal scalability, and tunable performance. The vapor-assisted solution method develops high-efficiency films along with minimum defects and high crystallinity. The vapor-assisted solution method enables high control over perovskite film formation and morphology by combining solution processing and vapor deposition.

Application Insights

How Solar Panels are Leading Applications for the Perovskite Solar Cell Market?

The solar panel segment dominated and is expected to sustain the position in the market, as it has the superior efficiency of 30% and tandem technology. The high efficiency of perovskite-silicon tandem solar panels enabled higher power output per unit area as compared to traditional silicon panels. The increased demand for affordable renewable energy solutions and high-efficiency is fueling the adoption of solar panels.

The smart glass segment is expected to witness a notable growth in the upcoming period, as it provides unique combination of energy generation. Perovskite solar cells enable electricity generation in smart glasses while reducing energy consumption. The adoption of perovskite solar cells has increased in designing facades and windows due to their superior transparency.

Additionally, the demand for smart glasses with integrated perovskite solar cells integrated has increased in diverse applications, such as automotive and consumer electronics.

lobal Perovskite Solar Cell Market Size, By Application, 2022-2024 (USD Million)

End-use Industry Insights

Why Industrial Segment Dominates the Perovskite Solar Cell Market?

By end-use industry, the industrial segment dominated the market and is expected to sustain the position, due to increased demand for large-scale, cost-effective, and rapid manufacturing across the various industries. The demand for perovskite solar cells has increased in industries due to rising need for large-scale and clean power generation.

The adoption of perovskite solar cells has increased in the Asian industries due to the region's rapid urbanization, increased energy consumption, and government initiatives for renewable energies.

The commercial segment is growing notably in the market, as the need for sustainable and energy-efficient solutions in construction and infrastructure. The adoption of building-integrated photovoltaics (BIPV) is fueling demand for perovskite solar cells, due to their lightweight, flexibility, and semi-transparent panels. The perovskite solar cells are superior in reducing energy consumption and the cost of commercial buildings.

Regional Insights

What is the Asia Pacific Perovskite Solar Cell Market Size?

The Asia Pacific perovskite solar cell market size is expected to be worth USD 2,258.53 million by 2035, increasing from USD 143.19 million in 2025, expanding at a CAGR of 31.76% from 2026 to 2035.

The Asia Pacific industry's revenue growth is anticipated to accelerate considerably during the projection timeframe. Due to the region's fast urbanization, the requirement for alternative energy to minimize reliance on fossil fuels, & government initiatives backing, the Asia Pacific region dominates the global industry in terms of share of the revenue.

Furthermore, the region's market is growing due to the region's well-developed consumer electronics sector. Due to the region's strong automotive industry, rising end-use sector demand, and the presence of major market players competing in North American nations, North America held the second-largest marketplace share in the global crystalline solar cell market in 2025.

China

China is dominating the Asia Pacific market because of its strong fabrication of photovoltaic cells and aggressive growth target for installing renewable energy. Research institutions as well as solar cell manufacturers have a lot of ongoing projects focused on developing tandem solar cells and producing perovskite solar panels at pilot scale. There are many different government programs and policies in place to help encourage rapid commercialization of renewable energy sources. Additionally, China continues to find ways to create innovative processes using large format coating processes and automated equipment to allow for high volume production levels. The combination of strong exports and large domestic targets for solar installations creates an environment where China will drive the growth of global adoption of perovskite solar technologies.

Why is North America the fastest-growing region?

The North America's perovskite solar cell market is fastest growing, through three primary drivers: strong research ecosystems, commercialization of early-stage products, and support from various government agencies via clean energy policies. Universities, national laboratories, and start-up companies are pushing innovation in developing cells with greater efficiencies and stability as well as large manufacturing scalability. The availability of public funding for renewable energy projects and decarbonization targets increases opportunities to create products at the pilot scale. Furthermore, partnerships with venture capitalists and between material scientists and photovoltaic manufacturers continue to support regional growth. The high demand for lightweight and flexible solar modules for building-integrated and portable applications will continue to propel North America as the leader in this market segment.

U.S.

The leading country in this region is the United States of America. The U.S. has the largest number of federal initiatives to support clean energy and has a robust research community dedicated to photovoltaic research. Many research and start-up firms are working to create tandem silicon - perovskite cells that will result in greater efficiencies than traditional solar module; and expanding domestic manufacturing under renewable energy policies will create new opportunities for producing advanced solar components in the USA. Collaborative efforts between universities and private companies will continue to create innovative projects and the increasing demand for lightweight and flexible solar panels for defense, aerospace, and urban infrastructure makes the USA the focal point for advances in perovskite solar cells.

How Europe Perovskite Solar Cell Market an Emerging Market?

Increased innovation in Europe and expanding use of perovskite solar cells. Numerous policies and climate commitments towards sustainability are propelling growth in the European perovskite solar cell market. The European space is committed to achieving clean energy independence while supportingadvanced photovoltaic research, particularly through collaborative research programs tailored to the needs of solar industry stakeholders across Europe. Manufacturers operating within the Eurozone are developing more environmentally friendly means of producing perovskite solar cells and improving long-term stability characteristics of solar cells. The growth of building integrated photovoltaics aligns well with the current energy-efficient construction standards promoted by both the European Commission and individual member states. Multi-national collaborations related to research and funding mechanisms are accelerating technological validation, while supportive regulatory frameworks related to green innovation are driving continued advancements of solar technologies.

Germany

Germany is the largest market for photovoltaic solar cells in Europe due to its world-class photovoltaic research institutions and extensive engineering experience in photovoltaic systems. Germany has been leading these efforts through a strong commitment to photovoltaic research and innovation in high-efficiency tandem technologies using perovskite and silicon cells. Innovative funding and expansive government-supported renewable energy development targets are ensuring continued success of the commercialization of photovoltaic solar cells. The drive for de-carbonization of the German economy by incorporating perovskite solar modules into both smart buildings and industrial rooftops further supports Germany's leadership position in advancing perovskite solar cell technologies. Additionally, Germany has already made substantial investments in its renewable energy infrastructure, which has helped establish Germany as a global leader in manufacturing and exporting photovoltaic solar energy products.

How Latin America Notably Growing perovskite solar cell market?

The growth of the perovskite solar cell industry in Latin America is primarily due to an abundance of solar resources and increased investment in renewable energy projects. Many Latin American countries are working to diversify their energy sources so they can reduce their dependence on fossil fuels and increase grid reliability. This demand for low-cost, high-efficiency solar technologies will stimulate research into new photovoltaic technologies. In addition, pilot research alliances and technology transfer programs are helping to build local expertise in this field. In addition, the expanded use of off-grid electricity and the electrification of rural areas will provide market opportunities for perovskite modules, which can be made lightweight and flexible for either remote installation or backup powering of energy systems. More foreign investment in this industry will continue to support innovative solutions in renewable energy.

Brazil

Brazil is leading the charge in the Latin American market for perovskite solar cells because of its significant growth in solar energy utilization and supportive government policies for renewable energy development. The high levels of sunshine present in Brazil will further promote the adoption of advanced photovoltaic technologies. Research institutions are conducting joint research into next-generation solar materials with partners from around the world. Brazil has also taken steps to incentivize the development of distributed generation of electricity and to build rooftop solar systemswithin urban areas. The current growth of the industrial sector in Brazil, along with ongoing modernization efforts of the country's infrastructure, provides additional incentives for adopting new and innovative forms of energy generation. As Brazil addresses the rising demand for sustainable energy and the need for increased energy diversification, it will be able to significantly accelerate the development of perovskite solar cells across the region.

Is Middle East & Africa Advancing Rapidly?

MEA region is one of the fastest-growing regions for the perovskite solar cell market, driven by the abundance of solar irradiation and efforts to diversify energy sources away from fossil fuels. Governments are building large-scale solar development projects and investing in innovative photovoltaic technologies to lessen their dependence on oil and to enhance their countries' energy security. The curiosity surrounding high-efficiency modules matched to extreme temperature environments is fostering collaborative research and pilot installation projects. Continued partnerships between countries and clean energy lending programs are also enabling further advancement in technology usage. The fast-growing urban infrastructures and sustainability commitments in both countries within the MEA region will allow for further examination of new solar materials and their application.

UAE

The UAE is presently the regional leader in renewable energy production with ambitious renewable energy targets and investment in solar research. The UAE is expanding and developing pilot programs that utilize advanced photovoltaic technologies designed for desert climates. The UAE has developed a national strategy for energy diversification that is providing a clear avenue for renewable energy products to enter into their respective countries and will encourage the use of high-efficiency solar systems. The UAE is collaborating with various international research organizations to ensure the validity of their technology and to measure the performance of high-efficiency solar products under extreme weather conditions. The UAE's ongoing development of large-scale solar projects provides an opportunity to utilize and integrate next-generation solar modules. With a high degree of available capital and sustainability policies that are prevalent in the UAE, the country is well positioned to become a major supplier of advanced solar technology.

Perovskite Solar Cell Market Companies

• Alfa Aesar,
• Dyenamo AB,
• Energy Materials Corp,
• Fraunhofer ISE,
• Frontier Energy Solution,
• FrontMaterials Co. Ltd.
• FUJIFILM Wako Pure Chemical Corporation
• G24 Power Ltd.
• Greatcell Energy
• IDTechEx Ltd
• Microquanta Semiconductor Co. Ltd.
• Oxford PV,Panasonic Corporation
• Saule Technologies
• Sekisui
• Solaronix SA
• Solliance solar research
• Swift Solar
• Tandem PV, Inc.
• Toshiba Corporation
• WonderSolar

Recent Developments:

• August 2019, Meyer Burger, a Swiss engineering firm, sold the first piece of solar cell production equipment to Oxford PV, a UK-based perovskite specialized business. Oxford PV hopes to build a 250 MW perovskite special assembly plant through this acquisition by the end of 2020.
• Saule Technologies formally unveiled an industrial assembly line of inkjet-printed solar cells using perovskite in February 2019 on a test basis. By the end of 2020, the company hopes to have constructed 180,000 sq m of solar cells.

Segments Covered in the Report:

By Structure

• Planar Perovskite Solar Cells
• Mesoporous Perovskite Solar Cells

By Product

• Rigid Perovskite Solar Cells
• Flexible Perovskite Solar Cells

By Type

• Hybrid PSCs
• Multi-Junction PSCs

By Technology

• Solution Method
• Vapor-Assisted Solution Method
• Vapor-Deposition Method

By Application

• Smart Glass
• Solar Panel
• BIPV (Building-Integrated Photovoltaics)

By End Use

• Aerospace & Defense
• Industrial
• Commercial
• Residential
• Utility

By Geography

• North America
• Europe
• Asia-Pacific
• LAMEA