About Concentrated Photovoltaic (CPV)
The photovoltaic technology known as concentrated photovoltaics (CPV) uses sunlight to produce power. It combines lenses and curved mirrors, in contrast to traditional photovoltaic systems, to concentrate sunlight onto tiny yet incredibly effective multi-junction (MJ) solar cells. CPV systems also frequently include sun trackers and occasionally a cooling system to further boost their effectiveness. The utility-scale sector and high-insolation locations are seeing a rapid improvement in their competitiveness due to ongoing research and development. So, smaller places can use this kind of solar technology.
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The market for Concentrated Photovoltaic (CPV) is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Concentrated Photovoltaic (CPV) market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sumitomo Electric Industries, Ltd (Japan), Sandia National (United States), Amonix (United States), SENER (Spain), Sol Voltaics AB (Sweden), RayGens (Australia), SolAero Technologies Corp. (United States), Radical Sun Systems (United States), Cool Earth Solar (United States) and ALTO Solution (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Zytech Group (United States), Arzon Solar LLC. (United States), SunPower (United States), Solatron Energy (United Kingdom), Apollo Power Systems (India), SolarReserve (United States) and Morgan Solar (Canada).
AMA Research has segmented the market of Global Concentrated Photovoltaic (CPV) market by Type (Low concentration PV (LCPV), Medium concentration PV and High concentration PV (HCPV)), Application (Industrial, Agricultural Sector, Residential and Other) and Region.
On the basis of geography, the market of Concentrated Photovoltaic (CPV) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by , the sub-segment i.e. will boost the Concentrated Photovoltaic (CPV) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Innovation of New Concentrated PV Module for Electricity Generation
Market Growth Drivers:
Rising Demand in Renewable Solar Energy Sources, Surge in Demand in Electricity Generation Plant and Rising Demand in Industrial and Agricultural Sectors
Low Land Occupation Density For Concentrated Photovoltaics, Strong Cost Decrease Of Competing Technologies For Electricity Production, Lack of technology standardization Associated with Concentrated Photovoltaics (PVC) and Low Penetration in Developing Region
Higher initial capital cost Associated with Concentrated Photovoltaic (CPV)
More Widespread Adoption of Renewable Energy Sources and Technological Advancement and Research and Development in Renewable Energy Generation
On 18 November 2021, SENER Renewable Investments, the SENER Group subsidiary that promotes and develops highly technological renewable energy projects, has launched the first hybrid solar project in Spain that merges CSP technology with molten salt storage and photovoltaic technology.
Key Target AudienceConcentrated Photovoltaic (CPV) Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.