Concentrator Photovoltaic (CPV) Market

Posted January 6, 2021 by mayurikathade

Concentrator Photovoltaic (CPV) Market was valued at US$ XX Bn in 2019 and is expected
Concentrator Photovoltaic (CPV) Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR 7% from 2019-2027. The report has analyzed the drivers, restraints, and challenges facing the concentrator photovoltaic (CPV) Market.

Concentrator photovoltaic is an automation that manufactures power from the sun by captivating sunlight. It utilizes lenses and curved reflector to concentrate the sunlight on to compact extremely systematic versatile solar panel. Continuing investigation and development are quickly enhancing their competition in benefit scale.

Market Dynamics

Currently, the CPV industry has observed disordered times with the number of new implementations remarkably reducing in 2020 as compared to the past. Various important CPV industries have elevated the market due to enlarged forces from decreasing prices of different PV automation where various others are covering difficulties in elevating the reserves needed to investigate and develop. Nevertheless, CPV sections carry on enhancing with regard to planning realizing transformation prices far beyond what is feasible from conventional flat conference PV sections that have planning’s of 43%, the greatest of all actual PV automations. Investigators believe the automation still has opportunities for enhancement in the coming years, arranging a way for performing remarkable reduction in all-inclusive function prices. Concentrator photovoltaic functions are mainly of interest to energy creation activities situated in sun rich positions that collect direct standard brightness utility of greater than 2000 Kwh. These PV functions are not acceptable for implementations on rooftops, therefore, restricting their spread of implementations to proportions. Reduced price and large-scale implementations pose as an important operator for CPV automation. Earlier, increase price of CPV functions compared to PV functions was an important blockade for the CPV industry.

Market Segmentation

Concentrator Photovoltaic (CPV) Market was divided by Product (Reflector and Refractor), by Application (Utility and Commercial), and by Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America). In CPV automation, optical hub is acknowledged as the main element as it concentrates sunlight on the solar panel. Refractors influence the reduced photovoltaic market because of the increasing inclination for Fresnel contact. Fresnel lens and excessive gathering of photovoltaic functions all together give maximum planning, due to which, their need is estimated to last high over the projected period. The capacity of refractors to manifest liberality toward mismatch of solar panels and execute in zones requiring shifting light strength are secure features expected to observe its need. The utility implementations segment influences the production with a capacity-based portion of 85% in 2020. On the scrim of changed reduced low costs of CPV, producers are selecting for CPV over Photovoltaic. Expenditures related to construction of enormous activities pipelines are estimated to increase the need. The development of this implementations segment is estimated to be excessive in important economies like China, India, and North America. This can be basically allocated to the reality that they encounter high brightness. Rising number of energy secured accordance between power council and independent zone industries is estimated to support intensive photovoltaic implementations in the utility part.

Regional Analysis

On the basis of region, concentrator Photovoltaic (CPV) Market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific was the highest zonal market with a portion of just over 55% in 2019. The need in the zone is mostly operated by China, which is estimated to raise its intensive photovoltaic volume at a CAGR of 13% from 2020 to 2027. The 14th Five year scheme acquired by the government of China directs at lowering carbon footstep and this is operating CPV implementations in the nations. Moreover, the uninterrupted normal brightness over China is also excessive, which, in succession is likely to increase the market. The Middle East and Africa is estimated to be the second quickest developing zone, with need highly operated by increasing implementations in South Africa. Zones protected in sand dunes experience highest sunlight in connection with surface zone and this remarkably increases the implementations of CPV. Expected solar activities in Jordan and Morocco are estimated to additionally encourage for concentrated photovoltaics over the forecasted period. The CPV market in North America is estimated to account for a CAGR of 7% from 2020 to 2027 in terms of dimensions. Advantageous state and combined rules in U.S and Canada are basically operating the need for this automation. Governmental directives and economic inducements are estimated to operate CPV implementations over the projected period.

Key Development

Sunpower Corporation and Sunrose Photovoltaic Technology Co. Ltd. are constantly innovating new technologies to enhance the concentrator photovoltaic (CPV) market in the forthcoming year.

The objective of the report is to present a comprehensive analysis of the Concentrator Photovoltaic (CPV) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Concentrator Photovoltaic (CPV) Market dynamics, structure by analyzing the market segments and projects the Concentrator Photovoltaic (CPV) Market size. Clear representation of competitive analysis of key players By Product, price, financial position, Product portfolio, growth strategies, and regional presence in the Concentrator Photovoltaic (CPV) Market make the report investor’s guide.
Scope of Concentrator Photovoltaic (CPV) Market

Concentrator Photovoltaic (CPV) Market, By Product

• Reflector
• Refractor
Concentrator Photovoltaic (CPV) Market, By Application

• Utility
• Commercial
Concentrator Photovoltaic (CPV) Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Concentrator Photovoltaic (CPV) Market, Key Players

• Sunpower Corporation
• Sunrose Photovoltaic Technology Co. Ltd.
• Zytech Solar
• Solarsystem
• Solar Junction
• Soitec
• Semprius Inc.
• Ravano Queen Powers
• Manpower
• Amonix
• Isofoton S.A.

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Last Updated January 6, 2021