Concentrated Photovoltaic (CPV) Market Developments, Competitive Analysis, Forecasts 2030

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Concentrated Photovoltaic (CPV) Market
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Market Overview
By 2030, the global market for concentrated
photovoltaic (CPV) is expected to be worth USD
4.81 billion, with a CAGR of 17.0 during the
forecast period. (2022 - 2030).CPV technology is
likely to be used in more places as the need for
grid-connected energy rises and people become
more aware of the benefits of using renewable
resources to make electricity.Since the price of
traditional PV panels has dropped sharply, there
is more interest in CPV and other silicon-based
solar technologies. CPVs also have a small
footprint, and their popularity is likely to grow
in the near future. Solar technology is often
used in places where the sun shines directly on
it. Since the business is still young, it's
mostly used for special things. On the global
market for concentrating solar cells, the main
things that makers think about are performance,
cost, reliability, and trade-offs.Size,
estimates, and forecasts of the Concentrated
Photovoltaic (CPV) Market are given in terms of
sales volume (K units) and income (million USD),
with historical and forecast data for the years
2017 to 2030, with 2022

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By Region
In 2016, Asia-Pacific was the biggest market by
volume, with a share of just over 50.0. China is
the main driver of demand in this area. From 2017
to 2025, China's CAGR was 12.2. The Chinese
government's 13th Five-Year Plan tries to reduce
the country's carbon footprint, which is driving
CPV installations in China. It also has a high
direct normal irradiance to China, which is
expected to boost the market.The Middle East and
Africa are projected to grow at the
second-fastest rate. Rising installations in
South Africa are the main reason for this.
Dune-covered areas get the most sunlight per
square foot, which makes it much easier to put
CPV. During the forecast period, upcoming solar
projects in Morocco and Jordan are likely to add
to the demand for concentrating solar power.From
2017 to 2025, the North American CPV market is
projected to grow at a compound annual growth
rate (CAGR) of 10.9. Most of the market for this
technology comes from the United States and
Canada, where state and federal policies are good
for it.
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The Global Concentrated Photovoltaic (CPV) Market
has been segmented into

• By Type
• LCPV
• HCPV

• By Application
• Commercial
• Utility-Scale
• Others

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The Global Concentrated Photovoltaic (CPV) Market
has been segmented into

• By Region
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe

• By Region
• North America
• US
• Canada
• Mexico
• Rest of North America
• The Middle East Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

• By Region
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific

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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.

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Market Players

• Arzon Solar (Amonix)
• Isofoton S.A.
• Magpower
• Semprius Inc.
• Soitec
• Solar Junction
• Others.

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