Perovskite Solar Cell Market Report 2025 (Global Edition)

Global Perovskite Solar Cell Market Report 2025 Market Size Split by Type Outlook: (Hybrid Perovskite Solar Cell, Multi-Junction Perovskite Solar Cell - Better Efficiency), by Type Of Structure (Plana...

Perovskite Solar Cell Market Report Description

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Impact of Trumph Tariff on Energy and Power Industry

In 2025, global trade entered a turbulent phase as the U.S., under President Donald Trump, introduced aggressive "Liberation Day Tariffs" to address trade imbalances. These tariffs, ranging from 10% to 46%, heavily impacted the energy and power sector, which relies on global supply chains for critical components like rare earth metals, solar panels, wind turbines, and lithium. The U.S.–China trade war escalated, with reciprocal tariffs and China's trade surplus with the U.S. reaching USD 102.6 billion. Retaliatory tariffs from the EU and Canada further disrupted energy supply chains, raising material costs and causing delays in key projects.

The U.S. imposed a 20% tariff on rare earths, impacting EVs and clean tech; 25% on solar panels, increasing installation costs; 15–25% on wind turbine parts, affecting project timelines; and 10–15% on oil and gas equipment, pushing producers to rethink supply networks. Sub-sectors like renewables, EVs, oil & gas, and power generation are all experiencing rising costs, supply bottlenecks, and delayed investments. For instance, solar and wind projects now face 10–30% higher costs, and EV producers are struggling with battery input inflation.

China remains central to the U.S. energy supply chain, with even indirect imports via countries like Vietnam and Malaysia tightly linked to Chinese inputs. As a result, U.S. energy firms are exploring alternative sourcing from Southeast Asia, Latin America, and domestic production to reduce exposure. However, switching suppliers requires significant investment, coordination, and time.

In this volatile environment, market research is critical. It helps energy firms map supplier risks, track price trends, and explore alternative sourcing. It enables supply chain optimization through AI and predictive analytics, while regulatory tracking and scenario planning allow companies to anticipate future disruptions. Energy firms like NextEra and First Solar are responding by diversifying suppliers, investing in local production, and leveraging digital tools to improve procurement and adapt to tariff-driven challenges. Those using data-driven strategies and flexible operations are best positioned to thrive amid rising trade tensions.

Perovskite Solar Cell Market Insights Video

Competitive Landscape of the Perovskite Solar Cell Market

The competitive landscape of the Perovskite Solar Cell Market is characterized by a diverse mix of established players and emerging startups, all striving to capitalize on the potential of this innovative technology. Key players in the market include Oxford PV, Saule Technologies, and Solaronix, among others. These companies are at the forefront of research and development, pushing the boundaries of efficiency and stability in perovskite solar cells.

July 2021: Oxford PV announced that it had completed the build-out of its manufacturing site in Brandenburg an der Havel, Germany. The site will be one of the world's first volume manufacturing lines for Oxford PV's innovative perovskite-on-silicon tandem solar cells. The annual target manufacturing capacity is 100 MW. (Source: https://www.oxfordpv.com/news/oxford-pv-completes-build-out-its-brandenburg-)

Top Companies Market Share in Perovskite Solar Cell Industry: (In no particular order of Rank)

• Hanwha Q CELLS (South Korea)
• CubicPV (US)
• EneCoat Technologies (Japan)
• Microquanta Semiconductor (China)
• Greatcell Energy (Australia)
• Oxford PV (UK)
• P3C (India)
• PEROVSKIA SOLAR AG (Switzerland)
• Saule Technologies (Poland)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Perovskite Solar Cell Market

Which Region Dominates the Perovskite Solar Cell Market in 2024?

According to Cognitive Market Research, North America dominates the Perovskite Solar Cell Market due to robust research and development infrastructure, significant investments in renewable energy, and supportive government policies. Leading institutions and companies in the region are at the forefront of technological advancements, enhancing efficiency and stability of perovskite solar cells.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific is the fastest-growing region in the Perovskite Solar Cell Market due to rapid industrialization, increasing energy demands, and significant investments in renewable energy technologies. Countries like China, Japan, and South Korea are leading in the development and commercialization of perovskite solar cells, driven by their strong focus on sustainable energy solutions and technological advancements.

The current report Scope analyzes Perovskite Solar Cell Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Perovskite Solar Cell Market Analysis

According to Cognitive Market Research, the global Perovskite Solar Cell market size was estimated at USD 284.5 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 113.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 68.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Perovskite Solar Cell market with a market size of USD 89.79 million in 2024 and is projected to grow at a CAGR of 67.8% during the forecast period. The nation's increased investments in renewable energy technologies and supportive government policies.
• The Canada Perovskite Solar Cell market had a market share of USD 13.66 million in 2024 and is projected to grow at a CAGR of 68.8% during the forecast period. Canada's increased investments in renewable energy technologies and supportive government policies.
• The Mexico Perovskite Solar Cell market is projected to witness growth at a CAGR of 68.5% during the forecast period, with a market size of USD 10.36 million in 2024.

Europe Perovskite Solar Cell Market Analysis

According to Cognitive Market Research, the global Perovskite Solar Cell market size was estimated at USD 284.5 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 85.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 68.3% from 2024 to 2031.

• The United Kingdom Perovskite Solar Cell market had a market share of USD 14.34 million in 2024 and is projected to grow at a CAGR of 69.1% during the forecast period. In the UK, Perovskite Solar Cell sales witness an upswing due to the nation's stringent environmental regulations and ambitious renewable energy targets.
• The France Perovskite Solar Cell market is projected to witness growth at a CAGR of 67.5% during the forecast period, with a market size of USD 7.85 million in 2024.
• According to Cognitive Market Research, the German Perovskite Solar Cell market size was valued at USD 16.90 million in 2024 and is projected to grow at a CAGR of 68.5% during the forecast period. In Germany, Perovskite Solar Cell surged due to the stringent environmental regulations and ambitious renewable energy targets.
• The Italy Perovskite Solar Cell market is projected to witness growth at a CAGR of 67.7% during the forecast period, with a market size of USD 7.34 million in 2024.
• The Russia Perovskite Solar Cell market is projected to witness growth at a CAGR of 67.3% during the forecast period, with a market size of USD 13.23 million in 2024.
• The Spain Perovskite Solar Cell market is projected to witness growth at a CAGR of 67.4% during the forecast period with a market size of USD 7.00 million in 2024
• The Luxembourg Perovskite Solar Cell market is projected to witness growth at a CAGR of 68.4% during the forecast period, with a market size of USD 2.65 million in 2024.
• The Portugal Perovskite Solar Cell market is projected to witness growth at a CAGR of 68.1% during the forecast period, with a market size of USD 1.79 million in 2024.
• The Greece Perovskite Solar Cell market is projected to witness growth at a CAGR of 68.6% during the forecast period, with a market size of USD 1.02 million in 2024.
• Rest of Europe's Perovskite Solar Cell market is projected to witness growth at a CAGR of 67.0% during the forecast period, with a market size of USD 13.23 million in 2024.

Asia Pacific Perovskite Solar Cell Market Analysis

According to Cognitive Market Research, the global Perovskite Solar Cell market size was estimated at USD 284.5 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 65.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 71.8% from 2024 to 2031.

• According to Cognitive Market Research, the China Perovskite Solar Cell market size was valued at USD 29.45 million in 2024 and is projected to grow at a CAGR of 71.3% during the forecast period. Perovskite Solar Cell surged in China due to the expansive urban development and increasing energy demands.
• The Japan Perovskite Solar Cell market is projected to witness growth at a CAGR of 70.3% during the forecast period, with a market size of USD 9.03 million in 2024.
• The India Perovskite Solar Cell market had a market share of USD 7.85 million in 2024 and is projected to grow at a CAGR of 73.6% during the forecast period. India's expansive urban development and increasing energy demands.
• The South Korean Perovskite Solar Cell market is projected to witness growth at a CAGR of 70.9% during the forecast period, with a market size of USD 6.54 million in 2024.
• The Australian Perovskite Solar Cell market is projected to witness growth at a CAGR of 71.5% during the forecast period, with a market size of USD 3.40 million in 2024.
• The South East Asia Perovskite Solar Cell market is projected to witness growth at a CAGR of 72.8% during the forecast period, with a market size of USD 4.52 million in 2024.
• The Rest of Asia Pacific Perovskite Solar Cell market is projected to witness growth at a CAGR of 71.6% during the forecast period, with a market size of USD 4.65 million in 2024.

South America Perovskite Solar Cell Market Analysis

According to Cognitive Market Research, the global Perovskite Solar Cell market size was estimated at USD 284.5 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 14.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 69.2% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Perovskite Solar Cell market size was valued at USD 6.09 million in 2024 and is projected to grow at a CAGR of 69.8% during the forecast period. Perovskite Solar Cells flourished in Brazil due to the sustainable energy solutions and favorable climatic conditions.
• Argentina's Perovskite Solar Cell market had a market share of USD 2.39 million in 2024 and is projected to grow at a CAGR of 70.1% during the forecast period. sustainable energy solutions and favorable climatic conditions.
• Colombia Perovskite Solar Cell market is projected to witness growth at a CAGR of 69.0% during the forecast period, with a market size of USD 1.27 million in 2024.
• Peru Perovskite Solar Cell market is projected to witness growth at a CAGR of 69.4% during the forecast period, with a market size of USD 1.17 million in 2024.
• Chile Perovskite Solar Cell market is projected to witness growth at a CAGR of 69.5% during the forecast period, with a market size of USD 1.02 million in 2024.
• The Rest of Latin America's Perovskite Solar Cell market is projected to witness growth at a CAGR of 68.3% during the forecast period, with a market size of USD 2.29 million in 2024.

Middle East Perovskite Solar Cell Market Analysis

According to Cognitive Market Research, the global Perovskite Solar Cell market size was estimated at USD 284.5 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 5.69 million in 2024 and will grow at a compound annual growth rate (CAGR) of 69.5% from 2024 to 2031..

• The GCC Countries Perovskite Solar Cell market is projected to witness growth at a CAGR of 70.3% during the forecast period, with a market size of USD 2.44 million in 2024. Perovskite Solar Cell sales flourish due to the need for alternative energy sources and high solar irradiance levels.
• The Egypt Perovskite Solar Cell market is projected to witness growth at a CAGR of 69.8% during the forecast period, with a market size of USD 0.60 million in 2024.
• The South Africa Perovskite Solar Cell market is projected to witness growth at a CAGR of 70.5% during the forecast period, with a market size of USD 0.90 million in 2024. Perovskite Solar Cell sales flourish in South Africa due to need for alternative energy sources and high solar irradiance levels.
• The Turkey Perovskite Solar Cell market is projected to witness growth at a CAGR of 69.0% during the forecast period, with a market size of USD 0.49 million in 2024.
• The Nigeria Perovskite Solar Cell market is projected to witness growth at a CAGR of 68.6% during the forecast period, with a market size of USD 0.60 million in 2024.
• The Rest of MEA Perovskite Solar Cell market is projected to witness growth at a CAGR of 68.5% during the forecast period, with a market size of USD 0.67 million in 2024.

Perovskite Solar Cell Market Analysis

Perovskite Solar Cell Market Type Segment Analysis

According to Cognitive Market Research, Hybrid perovskite solar cells are the dominant category in the perovskite solar cell market, largely due to their excellent balance of efficiency and stability. These cells typically combine perovskite materials with organic or inorganic components to enhance performance and durability. The hybrid approach allows for better control over the optical and electronic properties of the perovskite layer, leading to improved energy conversion rates and longer lifespans.

Multi-junction perovskite solar cells are experiencing the fastest growth in the perovskite solar cell market due to their remarkable efficiency gains. This category involves stacking multiple layers of perovskite materials with different bandgaps to capture a broader spectrum of sunlight, resulting in higher overall energy conversion efficiencies.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Perovskite Solar Cell Industry. Request a Free Sample PDF!

Type Of Structure Segment Analysis of Perovskite Solar Cell Market

The Perovskite Solar Cell market report also delivers an application-driven analysis that examines how various business offerings cater to the unique demands of different sectors. This section evaluates the market size, growth prospects, and revenue contributions specific to each application, while also highlighting the technological innovations that are shaping these sectors. The report provides a global projection of revenue growth in the Perovskite Solar Cell market, while also breaking down the performance and opportunities in specific regions and countries. By analyzing current trends and identifying future opportunities for each application, this section gives businesses a clearer understanding of the evolving dynamics within the industry and where to focus their efforts for optimal growth during the forecast period. (For a more in-depth review, feel free to request a sample of the pages or reach out to our team directly for further information.)

Some of the key Type Of Structure of Perovskite Solar Cell are:

• Planar Perovskite Solar Cell
• Mesoporous Solar Cell - Better Efficiency

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Perovskite Solar Cell Product Segment Analysis

• Rigid Perovskite Solar Cell - Better Efficiency
• Flexible Perovskite Solar Cell

Perovskite Solar Cell Vertical Segment Analysis

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

Perovskite Solar Cell Application Segment Analysis

• Smart Glass
• Solar Panel
• Building-integrated Photovoltaics (BIPV)
• Others

Perovskite Solar Cell Technology Segment Analysis

• One-step Method
• Two-step Method
• Vapor-assisted Solution Method
• Thermal Vapor Deposition Method

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

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