Concentrated Photovoltaic Market Size, Share, Key Findings, Segmentation, Development Trends and Strategic Assessment till 2023

Global “Concentrated Photovoltaic (CPV) Market” 2019 Research report provides information regarding market size, share, trends, growth, cost structure, global market competition landscape, market drivers, challenges and opportunity, capacity, revenue and forecast 2023. This report also includes the overall and comprehensive study of the Concentrated Photovoltaic market with all its aspects influencing the growth of the market.

Concentrated photovoltaic or CPV is a photovoltaic technology which produces electricity from sunlight. As opposed to conventional photovoltaic systems, this uses curved mirrors or lenses for focusing sunlight onto highly efficient, small, multi junction solar cells. Moreover, concentrated photovoltaic systems often utilize solar trackers and at times a cooling system to boost their efficiency further. The concentrated photovoltaic (CPV) market is expected to grow at the CAGR of around 11.56% during the period 2017 to 2023. A detailed analysis report of COVID-19 impact on Concentrated Photovoltaic Market is provided with the report.

Top Manufacturers analyzed in the Concentrated Photovoltaic (CPV) Market Research Report are:

Leading players profiled in the concentrated photovoltaic market include Macsun Solar Energy Technology Co., Ltd. (China), Suntrix Company Ltd (China), Sanan Optoelectronics Technology Co., Ltd (China), Saint-Augustin Canada Electric Inc. (STACE) (Canada), Sumitomo Electric Industries, Ltd. (Japan), Guangdong Redsolar Photovoltaic Technology Co. Ltd (China), Suncore Photovoltaic Technology Company Limited (China), ARIMA Group (Taiwan), Morgan Solar Inc. (Canada), Cool Earth Solar (U.S.), Arzon Solar LLC. (U.S.), SolAero Technologies Corp. (U.S.), Radical Sun Systems, Inc. (U.S.), and others.

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Industry Overview

There are ample factors that is boosting the growth of the concentrated photovoltaic market. These factors as per the Market Research Future (MRFR) report include increasing focus on solar energy to generate power, schemes and subsidiaries laid down by the government to adopt renewable and clean sources of energy to generate power, low-cost systems and high efficiency with the utilization of CPV systems, fall in the cost of CPV modules, entry of key players and lower need of area to set up plants. The additional factors fueling the market growth include increase in infrastructure development activities and flourishing industries especially in emerging economies and increasing population. On the contrary, limited areas with direct sunlight, lack of technological adoption, non-utilization of diffuse radiation, and scarcity of technology standardization are factors that may impede the growth of the concentrated photovoltaic market over the predicted years.

Market Segmentation

MRFR report offers a wide segmental analysis of the concentrated photovoltaic market on the basis of type and application.

Global Concentrated Photovoltaic (CPV) Market, By Type

  • High Concentrated Photovoltaic (HCPV)
  • Low Concentrated Photovoltaic (LCPV)

Global Concentrated Photovoltaic (CPV) Market, By Application

  • Commercial
  • Utilities

Global Concentrated Photovoltaic (CPV) Market, By Region

  • Americas
  • Europe
  • Asia Pacific
  • Middle East & Africa

Regional Analysis

By region, the concentrated photovoltaic market covers growth opportunities and latest trends across Middle East and Africa, Asia Pacific, Europe and Americas.

Of these, Asia Pacific will steer the market over the predicted years. This is owing to the region’s growing need for energy, rising disposable income and the growing population. Australia, Taiwan and China are the key contributors here. China is the world’s largest producer of solar energy. The government in China is aiming to cut down carbon footprint. It also encourages the installation of CPV in the country.

The concentrated photovoltaic market in the Americas will have the second major share over the predicted years. The US is the fastest growing market followed by Mexico owing to strict regulations laid down by the government related to the utilization of restricted natural resources.

The concentrated photovoltaic market in the Middle East and Africa will have a major share over the predicted years. Growing need for electricity, plenty of sunlight and dropping price of CPV are the key factors that is propelling the market growth. Morocco, Lebanon, South Africa and Saudi Arabia are the key contributors in this region.

Scope of the Report

This study provides an overview of the global concentrated photovoltaic (CPV) market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global concentrated photovoltaic (CPV) market by its grid connectivity, axis and region.

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