Concentrator Solar Cell Market Scope
Growing awareness about the use of renewable resources for power generation will help to boost global concentrator solar cell market. Concentrator Solar Cell also known as concentration photovoltaics is a photovoltaic technology that generates electricity from sunlight. Low-cost and large-scale applications, rapidly growing market on account of increasing power demand will act as major drivers of global concentrator solar cell market.
According to AMA, the Global Concentrator Solar Cell market is expected to see growth rate of 14.2%
The Manufacturers having a strong hold in the market are Zytech Solar, Sunpower Corporation, Suncore Photovoltaic Technology, and Solar Junction Corporation. Research Analyst at AMA estimates that European Manufacturers will contribute to the maximum growth of Global Concentrator Solar Cell market throughout the predicted period.
Zytech Solar Pvt. Ltd. (Spain), Sunpower Corporation (United States), Suncore Photovoltaic Technology Co. Ltd. (China), Solar Junction Corporation (United States), Semprius Inc. (United States), Ravano Green Power s.r.l. (Italy), Magpower Inc. (Portugal), Isofoton S.A. (Spain), Amonix, Inc. (United States) and Abengoa Solar (Spain) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Emcore Corporation (United States) and Soitec SA (France).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Concentrator Solar Cell market by Type (Low concentration Photovoltaics (LCPV), Medium concentration Photovoltaics and High concentration Photovoltaics (HCPV)) and Region with country level break-up.
On the basis of geography, the market of Concentrator Solar Cell has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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).
Market Leaders and their expansionary development strategies
On January 23rd, 2019, Mag One Products Inc. has finalized an agreement with Tech Magnesium, creating the roadmap for Mag One?s acquisition of its silicothermic and aluminothermic reduction processes for low cost, environmentally-friendly production of primary magnesium metal. This agreement outlines three phases of development and demonstration work with the final phase involving the design, construction and start-up of Mag One?s first 5,000 tonne per year primary Mg metal module with additional modules being brought online to coincide with market pull.
Market Trend
- Continuous increase in Conversion Efficiency of Multi-junction Solar Cells
- Growing Demand for New Optical Designs in Concentrated Solar Cells
Market Drivers
- Light Weight and Durable Nature Improves Operational Efficiency
- Provides better Conversion Rate with the use of Direct Solar Radiation
Opportunities
- Portable Nature of these Cells minimizes the Distribution Overheads
- Growing Demand for Renewable Energy Sources and Government Reimbursements
Restraints
- Possibility of Light Loss due to Incidence on the Graft Facet
- Lack of Efficient Tracking System to Increase Efficiency
Challenges
- Lack of Awareness and Availability of Cheaper Substitutes
- Complex Initial Installations and Higher Post Purchase Maintenance
Key Target Audience
Concentrated Solar Cell Manufacturers, Concentrated Solar Cell Distributors and Traders, Non Renewable Energy Protection Regulators, Government Agencies, Upstream and Downstream Buyers, Research and Development Organizations and Others