The global Concentrated Photovoltaic Market size was USD 1.21 Billion in 2022 and is expected to reach USD 3.93 Billion in 2032, and register a rapid revenue CAGR of 14% during the forecast period.
Rising demand for clean and Renewable Energy sources is a key factor driving market revenue growth. There is rising shift toward solar power generation, as the world becomes more conscious about environmental issues and need to reduce carbon emissions. Concentrator Photovoltaic (CPV) technology offers an efficient and sustainable solution for electricity production by utilizing concentrated sunlight to generate power.
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Top companies profiled in the report are:
- SolFocus USA
- Amonix, Inc.
- Concentrix Solar
- Suncore Photovoltaic Technology Co. Ltd.
- SunPower Corporation
- Arzon Solar LLC
- Soitec
- Skyline Solar
- Solar Junction
Strategic Planning:
In 2021, Maxeon Solar Technologies, a leader in solar innovation and sustainability, and SunPower Corporation established a strategic agreement. The alliance aims to broaden SunPower's product line and hasten the uptake of Maxeon's cutting-edge solar technologies in the CPV industry.
Soitec announced the release of the CX-M500, a new CPV module, in 2020. The module makes use of Soitec's exclusive Concentrix technology, which enables small-footprint, high-efficiency solar power generation. When compared to conventional solar PV technology, the CX-M500 delivers a competitive cost of energy and is intended for utility-scale solar power plants.
Arzon Solar revealed plans to introduce the ARBOX AC, a new CPV module, in 2020. The module achieves an industry-leading efficiency level of over 40% by combining cutting-edge optics with very effective solar cells. When compared to conventional solar PV technology, the ARBOX AC has a lower levelized cost of energy (LCOE) and is intended for use in large-scale solar power plants.
Regional Segmentation:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Concentrated Photovoltaic Market Segmentation:
By Technology Outlook:
- Reflective Type
- Refractive Type
By Application Outlook:
- Utility-scale
- Commercial
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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