Global Concentrated Photovoltaic Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz, in its upcoming report titled, “Global Concentrated Photovoltaic Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”, offers in-depth insights, revenue details, and other vital information regarding the global concentrated photovoltaic market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global concentrated photovoltaic market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global concentrated photovoltaic market is estimated to exhibit a X.X% CAGR in terms of value during the forecast period 2018–2027. The global concentrated photovoltaic market report has been segmented on the basis of product, level of concentration, application and region.

Concentrated photovoltaic is a photovoltaic technology to generate power from sunlight. In this technology large area of sunlight is focused on a solar cell with the help of optical devices. Curved mirrors and lenses are used as optical devices used to focus sunlight on the multi-junction solar cell.

Growing awareness regarding the use of renewable resources for power generation coupled with increasing demand for grid-connected electricity is expected to boost the demand for concentrated photovoltaic. The rapid price declination of conventional photovoltaic modules which in turn resulted in an increase in demand for concentrated photovoltaic and other silicone based technologies. Earlier, high prices of concentrated photovoltaic compared to solar PV was a major restrain. Declining prices of silicone and improvement in the designs of the modules are expected to have a positive impact on the market over the forecast period.

Refractors product segment dominate the global concentrated photovoltaic market. Rising preference of Fresnel lens for maximum efficiency owing to rising demand for power is expected to boost the demand for refractor based concentrated photovoltaic.

High concentrated photovoltaic is anticipated to experience rapid growth over the forecast period owing to rise in demand for high-efficiency modules. Growing demand for low cost and high-efficiency modules is expected to boost the demand for high concentrated photovoltaic over the forecast period.

Governments across nations are working towards the use of renewable sources for power generation. The major application segment where concentrated photovoltaic technology is implied is commercial and utility sectors. Utility application segment dominates the concentrated photovoltaic market. Growing number of power purchase agreement between private companies and electricity boards is estimated to boost the demand for concentrated photovoltaic for utility application over the forecast period.

The Asia Pacific is expected to dominate the global concentrated photovoltaic market. Presence of emerging economies like China and India is expected to boost the market. The 13th five-year plan adopted by the government of China which aims to reduce the carbon emissions is expected to fuel the growth of global concentrated photovoltaic market over the forecast period.

Market segmentation and key players operating in the global market:

Global concentrated photovoltaic market segmentation, by product:

• Reflector
• Refractor

Global concentrated photovoltaic market segmentation, by level of concentration

• Low Concentrated photovoltaic
• High concentrated photovoltaic

Global concentrated photovoltaic market segmentation, by application:

• Utility
• Commercial
• Others

Global concentrated photovoltaic market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa