Global Concentrated Photovoltaic Market CPV Industry Analysis 2023
Summary
A Concentrator Photovoltaic (CPV) system transforms light energy into electrical energy in the similar way the conventional photovoltaic technology does.
In 2015, a new world record was set for global investment in renewable energy with a total investment of USD 285.9 billion. (UN Environmental Programme).
The optical components, which are also known as optical concentrators, are manufactured to harvest sunlight from a broad area of incidence and concentrate it directly onto a small area covered by the photovoltaic (PV) cells.
In 2015, Soitec demonstrated a CPV module efficiency of 38.9 % at Concentrator Standard Test Conditions (CSTC), and efficiencies of commercially available CPV modules exceed 30%.
Key Players
Global Concentrator Photovoltaic Radical Sun Systems, Inc. (U.S.), SolAero Technologies Corp. (U.S.), Arzon Solar LLC. (U.S.), Cool Earth Solar (U.S.), Morgan Solar Inc. (Canada), ARIMA Group (Taiwan), Suncore Photovoltaic Technology Company Limited (China), Guangdong Redsolar Photovoltaic Technology Co. Ltd (China), Sumitomo Electric Industries, Ltd. (Japan), Saint-Augustin Canada Electric Inc. (STACE) (Canada), Sanan Optoelectronics Technology Co., Ltd (China), Suntrix Company Ltd (China), Macsun Solar Energy Technology Co., Ltd. (China), and others.
Target Audience • Manufactures • Raw materials suppliers • Aftermarket suppliers • Research Institute & education institute • Potential investors • Key executive (CEO and COO) and strategy growth manager
Global Concentrated Photovoltaic Market - CPV Industry Analysis 2023
Key Findings • Global concentrator photovoltaic (CPV) market is expected to reach USD 2,710.6 million by 2023 • By type, high concentrated photovoltaic (HCPV) segment dominated the global concentrator photovoltaic (CPV) market with 93.14% of share in 2016, in terms of value. It is expected to show the highest growth at a CAGR of 11.63% during the forecast period
• By application, utility segment accounted for the market value of USD 868.8 million in 2016 and is projected to grow at a CAGR of 11.70% during the forecast period • Geographically, Asia Pacific is projected to hold the largest share of the global concentrator photovoltaic (CPV) market with a share of 52.55%.
Covers
Country-level
Analysis • Americas o U.S. o Mexico o Rest of Americas • Europe o Spain o Italy o France o Portugal o Rest of Europe
• Asia Pacific o China o Taiwan o Australia o Rest of Asia Pacific • Middle East & Africa o Middle East o Africa
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