The Global Concentrated Photovoltaic (CPV) Market Is Projected To Be Worth USD 4.81 Billion By 2030, Registering A CAGR Of 17.0% During The Forecast Period (2022 - 2030).

Concentrated Photovoltaic (CPV)  Market Overview:

Growing demand for grid-connected electricity along with awareness of using renewable resources for power generation is expected to drive adoption of CPV technology in various applications.

The sharp decline in the price of conventional PV modules has increased the demand for CPV and other silicon-based solar technologies. Additionally, CPVs have a relatively small footprint and are expected to grow in demand in the near future. Solar technology is often deployed in areas exposed to direct sunlight. Since the industry is still in its infancy, it is mainly used for special purposes. Performance, cost, reliability and trade-offs are the major factors considered by manufacturers in the global market for concentrating solar cells.

Concentrated Photovoltaic (CPV)  Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Concentrated Photovoltaic (CPV)  Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In December 2017, Silfab Solar Inc. formed a joint venture with Morgan Solar Inc. to develop and produce disruptive, low-cost PV modules specifically designed for large-scale commercial and utility-scale projects. This JV connects two of the most innovative and technologically innovative companies in the solar industry, sharing knowledge and experience to produce high-volume, high-quality solar modules at internationally competitive costs.

Major Market Segments Covered in Concentrated Photovoltaic (CPV)  Market Industry Research:

Market Key Players:
Arzon Solar (Amonix), Isofoton S.A., Magpower, Semprius Inc., Soitec, Solar Junction, And Others.

By Type:

• LCPV
• HCPV

By Application:

• Commercial
• Utility-Scale
• Others

By Region:

By volume, Asia Pacific was the largest regional market with a share of just over 50.0% in 2016. Demand in this region is particularly driven by China, which experienced a CAGR of 12.2% from 2017 to 2025. The 13th Five-Year Plan adopted by the Chinese government aims to reduce its carbon footprint, which is driving CPV installations in China. is leading. It also has high direct normal irradiance to China, which is likely to boost the market.

The Middle East and Africa are expected to be the second fastest-growing region, with demand primarily driven by rising installations in South Africa. Areas covered by dunes receive maximum sunlight in terms of surface area, which greatly facilitates CPV installation. Upcoming solar projects in Morocco and Jordan are expected to further fuel the demand for concentrating solar power over the forecast period.

The North American CPV market is expected to grow at a CAGR of 10.9% in terms of volume from 2017 to 2025. Favorable state and federal policies in the United States and Canada are primarily driving the demand for this technology. Legislative mandates and fiscal incentives are expected to boost CPV installations over the forecast period.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Drivers

STACE (Saint-Augustin Canada Electric Inc.), one of the world's leading companies, is a major supplier of heavy-duty electrical equipment for the power generation industry. announced. Growing concentrating solar market trends. The acquisition of the deal allowed the organization to strengthen its enormous position in the emerging renewable industry and complete its full offering in the global solar energy market. Another major organization by the name of EnerTech entered into a fundamental strategic investment and partnership agreement with a growing company called Morgan Solar Inc. to increase its presence and rank higher in the concentrating solar market analysis. Under the acquisition agreement, EnerTech managed and planned, inter alia: Investing in MSI and basically transferring solar concentrating modern solar technology to other countries like Kuwait and the Middle East.

In December 2017, Silfab Solar Inc. The organization established a primary joint venture with renowned company Morgan Solar Inc. to build and produce primary destructive low-cost PV modules specifically designed and constructed for larger commercial and utility applications. - Expand your project globally. This JV aims to unite two of the most innovative and technologically innovative companies in the global solar industry.

The ranking of the Concentrated Photovoltaic (CPV) market, segmented by North America, Europe, Asia Pacific, and Rest of the World (RoW), is based on market size at the country level and other factors. The Concentrated Photovoltaic (CPV) market is huge and all the major players in the market play an important role. There is no fundamental argument that despite the COVID 19 imposed lockdown, the latest trends and future opportunities in the concentrated solar industry will see tremendously increasing opportunities.

  Opportunities

The history of concentrating photovoltaic cells started in the 70's but is growing and is now achieving commercial viability. The incredible growth rate of concentrating solar power over the next few years is booming. It has an impressive presence on the global platform as a technology with specific promise to solve the modern energy challenges facing the world. The market is very popular and booming these days. Globally, many emerging markets related to concentrating solar power (CPV) and major countries such as India, China and Brazil are expected to grow rapidly during the projected period.

Restraints

COVID19 has primarily disrupted the entire supply chain and impacted the concentrated solar market value. In addition, the prolonged lockdown has demoralized large corporations involved in the sector and has had various negative effects. Major players have adopted modern strategies to maintain or increase their market share. The basic core strategy followed by global companies is mergers and acquisitions to concentrate sales in the photovoltaic market, followed by partnerships and collaborations.

  Challenges

Revenue of USD 536.1 million with a CAGR of approximately 11.84%. There is a growing and impressive demand. A number of key factors are bolstering the Concentrated Photovoltaic (CPV) market. Enterprises and local governments are planning and implementing current business operations through innovative techniques.

Concentrated Photovoltaic (CPV)  Market report scope:

Report Attributes	Details
Growth Rate	CAGR of 17.0% from 2022 to 2030.
By Type	LCPV, HCPV
By Application	Commercial, Utility-Scale, Others
By Companies	Arzon Solar (Amonix), Isofoton S.A., Magpower, Semprius Inc., Soitec, Solar Junction, And Others.
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

Key Takeaways from this Concentrated Photovoltaic (CPV)  Market Report

• Estimate Concentrated Photovoltaic (CPV)  Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Concentrated Photovoltaic (CPV)  Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Concentrated Photovoltaic (CPV)  Market?

The Concentrated Photovoltaic (CPV)  Market is growing at a CAGR of 17.0% During Forecast Period.

 What are the key types of Concentrated Photovoltaic (CPV)  Market?

LCPV, HCPV

What are the key applications of Concentrated Photovoltaic (CPV)  Market?

Commercial, Utility-Scale, Others                                             

Who are the key players in Concentrated Photovoltaic (CPV)  Market?

Radical Sun Systems. (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 (China), Sumitomo Electric Industries. (Japan), Saint-Augustin Canada Electric. (Canada), Sanan Optoelectronics Technology (China), Suntrix Company Ltd (China)