Global Concentrated Photovoltaic Market, By Type (High Concentrated Photovoltaic (HCPV), Low Concentrated Photovoltaic (LCPV)), Product Type (Reflector, Refractor), Application (Utility, Commercial, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Concentrated Photovoltaic Market
Concentrated photovoltaic market size is valued at USD 20.78 billion by 2028 and is expected to grow at a compound annual growth rate of 21.70% for the forecast period of 2021 to 2028. Data Bridge Market Research report on concentrated photovoltaic market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Concentrated photovoltaic is a type of a photovoltaic technology which is used to produce power from sunlight. In this technology large area of sunlight is focused on a solar cell with the assist of optical devices. Lenses and curved mirrors are used as optical devices that is used to center sunlight on the multi-junction solar cell.
The rising awareness regarding the use of renewable resources for power generation associated with growing demand for grid-connected electricity has highly influenced growth of the concentrated photovoltaic market. In line with this, the declining prices of silicone and development in the designs of the modules are also acting as a key determinant favoring the growth of the concentrated photovoltaic market over the forecast period of 2021 to 2028. Also the, rising population, thriving industries in emerging economies and an increase in infrastructure development activities are also positively impacting the growth of the concentrated photovoltaic market. The major factor accountable for the growth of the market is the less land requirement. Beside this, the higher efficiency with low system cost and renewable energy resources are also flourishing the growth of the concentrated photovoltaic market.
However, the high cost of concentrated photovoltaic when compared to solar PV and lack of acceptance of technology may act as key restraint towards concentrated photovoltaic market growth rate in the forecast period of 2021 to 2028, whereas the limited locations with high direct normal irradiation have the potential to challenge the growth of the concentrated photovoltaic market in the above mentioned forecast period.
Furthermore, the increasing number of power purchase agreement among private companies and electricity boards is likely to boost the demand for concentrated photovoltaic for utility application which will further offer a variety of growth opportunities for the concentrated photovoltaic market in the above mentioned forecast period.
This concentrated photovoltaic market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on concentrated photovoltaic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Concentrated Photovoltaic Market Scope and Market Size
Concentrated photovoltaic market is segmented on the basis of type, product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the concentrated photovoltaic market is segmented into high concentrated photovoltaic (HCPV) and low concentrated photovoltaic (LCPV).
- On the basis of product type, the concentrated photovoltaic market is segmented into reflector and refractor.
- The application segment for concentrated photovoltaic market is segmented into utility, commercial and others.
Concentrated Photovoltaic Market Country Level Analysis
Concentrated photovoltaic market is analyzed and market size, volume information is provided by country, type, product type and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific leads the concentrated photovoltaic market because of the increasing population and rising disposable income among individuals as well as strong presence of emerging economies such as China and India within this particular region. North America is expected to expand at a significant growth of the over the forecast of 2021 to 2028 due to favorable state and federal policies in Canada and U.S. which are chiefly driving demand for this technology within this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Concentrated Photovoltaic Market Share Analysis
Concentrated photovoltaic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to concentrated photovoltaic market.
The major players covered in the concentrated photovoltaic market report are SolAero Technologies, Arzon Solar, LLC, Cool Earth Solar, Morgan Solar, ARIMA Group, Suncore, Grupo Zytech, Solartron Energy Systems, SOITEC, Green Rhino Energy Ltd., Sumitomo Electric Industries, Ltd., RayGen Resources Pty Ltd, SmartSolar, Sunfish Solar, RayGen Resources Pty Ltd, SAINT-AUGUSTIN CANADA ELECTRIC INC., and Macsun Solar Energy Technology Co., Limited among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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