Perovskite Solar Cell Market powered by next-generation solar efficiency

San Francisco, 9 September 2025, – The global perovskite solar cell market size is anticipated to reach USD 7021.18 million by 2030 and is expected to expand at a CAGR of 72.18% during the forecast period, according to a new report by Grand View Research, Inc. The market is primarily driven by the technology’s superior efficiency and cost-effectiveness compared to traditional silicon-based solar cells. Perovskite materials exhibit exceptional light absorption capabilities and charge-carrier dynamics, which enable higher energy conversion rates even under low-light conditions. This makes them particularly attractive for residential, commercial, and off-grid applications. The relatively low manufacturing costs—thanks to solution-based processing and simpler fabrication techniques—are accelerating their adoption across diverse energy markets.

Technological advancements in tandem solar cells, which combine perovskite layers with silicon, are further propelling market expansion. These hybrid configurations achieve record-breaking efficiencies, making them a focal point of research and development efforts. Improvements in stability, scalability, and environmental resilience address earlier limitations of perovskite solar cells, paving the way for broader commercialization. Moreover, innovations in flexible and lightweight substrates are opening new avenues for integration into portable electronics, building-integrated photovoltaics (BIPV), and smart glass applications.

Government policies and global sustainability initiatives are also pivotal in driving demand. As nations intensify their commitments to reduce carbon emissions and transition to renewable energy, perovskite solar cells emerge as a key enabler of clean energy goals. Incentives, subsidies, and research funding encourage startups and established players to invest in perovskite technologies. The growing interest from investors and energy providers underscores the market’s potential to reshape the solar energy landscape with affordable, scalable, high-performance solutions.

Order a free sample PDF of the Perovskite Solar Cell Market Intelligence Study, published by Grand View Research.

• Based on product, the rigid segment held the largest revenue share of 69.79% in 2024. 
• Based on vertical, the utility segment held the largest revenue share of 35.57% in 2024.
• Based on application, solar panels held the largest revenue share of 51.07% in 2024.
• North America perovskite solar cell market is driven by increasing demand for renewable energy solutions and advancements in solar technology. 
• The perovskite solar cell market in the U.S. is driven by a growing emphasis on renewable energy solutions and the need for efficient, cost-effective solar technology. 
• The perovskite solar cell market in Asia Pacific dominated the global industry and accounted for the largest revenue share of over 52.14% in 2024.
• In June 2024, LONGi announced the achievement of a new world record efficiency of 30.1% for commercial M6 size silicon Perovskite Tandem Solar Cells at the 2024 Intersolar Europe in Munich, Germany.

List of Key Players in the Perovskite Solar Cell Market

• 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
• Microquanta Semiconductor Co., Ltd.
• Oxford PV
• Panasonic Corporation