Concentrated Photovoltaic Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Concentrator photovoltaic (CPV) (also known as concentration photovoltaic) is a photovoltaic technology that generates electricity from sunlight. Unlike conventional photovoltaic systems, it uses lenses or curved mirrors to focus sunlight onto small, highly efficient, multi-junction (MJ) solar cells. In addition, CPV systems often use solar trackers and sometimes a cooling system to further increase their efficiency. Concentrated photovoltaic (CPV) technology uses optics such as lenses or curved mirrors to concentrate a large amount of sunlight onto a small area of solar photovoltaic (PV) cells to generate electricity. Compared to non-concentrated photovoltaic, CPV systems can save money on the cost of the solar cells, since a smaller area of photovoltaic material is required

MARKET DYNAMICS

Whereas, it was forecasted that PV systems that utilize high-concentration photovoltaic (HCPV) have a big potential to become prominent and competitive in the next few decades. These photovoltaic also possess the highest efficiency of all existing photovoltaic technologies, while the smaller photovoltaic array can also minimize the system costs balance. However, concentration PV is not currently used in the PV rooftop system and is also way for common compare to the conventional PV systems.

MARKET SCOPE

The ˜Global Concentrated Photovoltaic Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the concentrated photovoltaic market with detailed market segmentation by type, product type, and application. The global concentrated photovoltaic market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading concentrated photovoltaic market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

Concentrated photovoltaic market is segmented on the basis of:
1. By Type: On the basis of type, the concentrated photovoltaic market is segmented into High Concentrated Photovoltaic (HCPV), and Low Concentrated Photovoltaic (LCPV).
2. By Product: On the basis of product type, the concentrated photovoltaic market is segmented into Reflector, and Refractor.
3. By Application: The application segment for concentrated photovoltaic market is segmented into Utility, Commercial and Others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The concentrated photovoltaic market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the concentrated photovoltaic market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the concentrated photovoltaic market in these regions.
IMPACT OF COVID 19
Lockdown in most of the countries globally due to the COVID 19 have made market squelch, disturbing supply chains, and suspending most of the projects. In India, 80% of solar products are imported from China and most of the solar projects are getting delayed due to lockdown and shortage of equipment, resulting in a huge backlog for accomplishing orders. Photovoltaic demand was seen falling during the lockdown period. This will also have negative impact on the solar industry.

MARKET PLAYERS

The report covers vital developments in the concentrated photovoltaic market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the concentrated photovoltaic market are anticipated to have lucrative growth opportunities in the future with the rising demand for concentrated photovoltaic in the global market. Below mentioned is the list of a few companies engaged in the concentrated photovoltaic market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the concentrated photovoltaic market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.

•   Arzon Solar (Amonix)
  
•   Isofoton S.A.
  
•   Magpower
  
•   Semprius Inc.
  
•   Soitec
  
•   Solar Junction
  
•   SolFocus
  
•   Silex
  
•   Suncore Photovoltaic
  
•   Zytech Solar
  
  
  

The Insight Partners dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Concentrated Photovoltaic Report Scope