Market Overview:
The global space solar cells market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy from space-based applications and the rising investments in space exploration programs. Based on type, the global space solar cells market is segmented into triple junction solar cell and quadruple junction solar cell. Triple junction solar cells are expected to account for a larger share of the market than quadruple junction solar cells during the forecast period. This can be attributed to their lower cost and higher efficiency as compared to quadruple junction solar cells. Based on application, large spacecraft are expected to account for a larger share of the global space Solar Cells Market than small spacecraft duringthe forecast period.
Product Definition:
Space solar cells are a type of solar cell designed for use in space applications, such as satellites and spacecraft. Space solar cells are typically more efficient than terrestrial solar cells, due to the lower levels of atmospheric interference and the lack of shadows created by obstacles.
Triple Junction Solar Cell:
Triple junction solar cell, also known as space solar cell (SSC), is a new type of photovoltaic with special properties. It consists of three interconnecting channels through which current can flow at the same time. The first channel is connected to the positive side of the battery, second to negative side and third channel is connected between these two channels thus forming an “L” shape when viewed from above.
Quadruple Junction Solar Cell:
A quadruple junction solar cell is a new technology that has the ability to generate more energy than conventional silicon-based solar cells. It consists of four layers, three of which are made from different materials and the fourth layer that bridges them is a transparent conducting oxide film. The topmost layer contains an amorphous silica glass substrate along with titanium dioxide nanoparticles.
Application Insights:
The large spacecraft application segment accounted for the largest revenue share of over 60% in 2017. The growth is attributed to the growing need for renewable energy on board satellites and human spaceflight vehicles. In addition, technological advancements in solar cells and increasing government funding towards research & development are expected to drive demand over the forecast period.
The small spacecraft application segment is projected to witness significant growth with a CAGR of XX% from 2018 to 2030 owing to increased focus on planetary exploration by various countries including U.S., China, India, Russia and Japan among others. Furthermore, these devices can also be used for Earth observation or communication which further supports market growth across all regions.
In 2015-2016 timeframe, global average temperature fluctuated between 14°Celsius.
Regional Analysis:
The Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The region has a large population with increasing demand for electricity across emerging economies, such as China and India. Growing industrialization coupled with rapid urbanization is also anticipated to drive demand across this region. Furthermore, favorable government policies promoting investments from international companies are projected to boost industry growth over the coming years.
The European regional space solar cell market was valued at USD X million in 2017 owing to growing awareness regarding environmental protection along with technological advancements pertaining energy storage devices used in solar cells manufacturing process.
Growth Factors:
- Increasing demand for renewable energy sources: The increasing demand for renewable energy sources is one of the major growth drivers for the space solar cells market. This is due to the growing concerns over climate change and rising electricity costs.
- Government initiatives and funding: Governments across the globe are promoting the use of renewable energy sources, which is aiding in the growth of the space solar cells market. Additionally, government agencies are providing funding for research and development activities in this market, thereby accelerating its growth.
- Technological advancements: The technological advancements in space solar cells are propelling their uptake among various applications such as satellites, spacecrafts, and terrestrial power plants. This is resulting in increased efficiency and reduced costs of these cells, thereby driving their adoption globally.
Scope Of The Report
Report Attributes
Report Details
Report Title
Space Solar Cells Market Research Report
By Type
Triple Junction Solar Cell, Quadruple Junction Solar Cell
By Application
Large Spacecraft, Small Spacecraft
By Companies
Spectrolab, Bharat Heavy Electricals Limited, Azur Space, CESI, SolAero Technologies, Umicore, Jinko Solar
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.
Global Space Solar Cells Market Report Segments:
The global Space Solar Cells market is segmented on the basis of:
Types
Triple Junction Solar Cell, Quadruple Junction Solar Cell
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Spacecraft, Small Spacecraft
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Spectrolab
- Bharat Heavy Electricals Limited
- Azur Space
- CESI
- SolAero Technologies
- Umicore
- Jinko Solar
Highlights of The Space Solar Cells Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Triple Junction Solar Cell
- Quadruple Junction Solar Cell
- By Application:
- Large Spacecraft
- Small Spacecraft
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Space Solar Cells Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Space solar cells are a type of solar cell that use the sun's energy to create electricity. They're designed to be placed in space, where they can collect more sunlight than terrestrial solar cells.
Some of the key players operating in the space solar cells market are Spectrolab, Bharat Heavy Electricals Limited, Azur Space, CESI, SolAero Technologies, Umicore, Jinko Solar.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Space Solar Cells Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Space Solar Cells Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Space Solar Cells Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Space Solar Cells Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Space Solar Cells Market Size & Forecast, 2020-2028
4.5.1 Space Solar Cells Market Size and Y-o-Y Growth
4.5.2 Space Solar Cells Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Triple Junction Solar Cell
5.2.2 Quadruple Junction Solar Cell
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Large Spacecraft
6.2.2 Small Spacecraft
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Space Solar Cells Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Space Solar Cells Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Triple Junction Solar Cell
9.6.2 Quadruple Junction Solar Cell
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Large Spacecraft
9.10.2 Small Spacecraft
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Triple Junction Solar Cell
10.6.2 Quadruple Junction Solar Cell
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Large Spacecraft
10.10.2 Small Spacecraft
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Triple Junction Solar Cell
11.6.2 Quadruple Junction Solar Cell
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Large Spacecraft
11.10.2 Small Spacecraft
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Triple Junction Solar Cell
12.6.2 Quadruple Junction Solar Cell
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Large Spacecraft
12.10.2 Small Spacecraft
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Triple Junction Solar Cell
13.6.2 Quadruple Junction Solar Cell
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Large Spacecraft
13.10.2 Small Spacecraft
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Space Solar Cells Market: Competitive Dashboard
14.2 Global Space Solar Cells Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Spectrolab
14.3.2 Bharat Heavy Electricals Limited
14.3.3 Azur Space
14.3.4 CESI
14.3.5 SolAero Technologies
14.3.6 Umicore
14.3.7 Jinko Solar
