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Global Concentrated Photovoltaic Systems Market to grow at a CAGR of 11.63% during the period 2018 – 2022; Finds New Report

Report forecast the global concentrated photovoltaic systems market to grow at a CAGR of 11.63% during the period 2018-2022.

Concentrated photovoltaic (CPV) is a solar photovoltaic technology that uses lenses or mirrors to focus and concentrate sunlight onto a relatively small area of a photovoltaic cell to generate electricity from sunlight.

The report covers the present scenario and the growth prospects of the global concentrated photovoltaic systems market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA

According to the report, one driver in the market is advantages of CPV systems. CPV systems generate approximately two to three times more energy per module area than solar PV systems. The CPV technology is best suited for very sunny, desert-like locations with high solar irradiation. These are similar to solar PV as both employ solar cells that convert sunlight into electricity.

Further, the report states that one challenge in the market is declining cost of solar PV modules. Though CPV systems offer many advantages over flat panel solar PV systems, one of the major challenges for the CPV technology is the decline in solar PV module prices. This has caused many CPV manufacturing companies to enter bankruptcy, or be acquired by larger firms, or shift to manufacturing of solar PV modules. This has made the solar PV market regain focus.

Global Concentrated Photovoltaic Systems Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global concentrated photovoltaic systems market: Arzon Solar, BSQ Solar, Guangdong Redsolar Photovoltaic Technology, Magpower, Saint-Augustin Canada Electric, and San’an Optoelectronics.

Market driver

  • Advantages of CPV systems
  • For a full, detailed list, view our report

Market challenge

  • Declining cost of solar PV modules
  • For a full, detailed list, view our report

Market trend

  • Rising patent filings
  • For a full, detailed list, view our report

Key questions answered in this report

  • What will the market size be in 2022 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?

Spanning over 106 pages Global Concentrated Photovoltaic Systems Market 2018 – 2022” report covers Executive summary, Introduction, Scope of the report, Research Methodology, Market landscape, Market Sizing, Five Forces Analysis, Market Segmentation By Technology, Customer Landscape, Regional Landscape, Decision Framework, Drivers And Challenges, Market Trends, Vendor Landscape, Vendor Analysis, Appendix.

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