Concentrated Photovoltaic Systems Market Size, Status and Forecast 2025

Global concentrated photovoltaic systems market is estimated to grow at a significant CAGR of 11.63% over the forecast period as the scope and its applications are rising enormously across the globe. Concentrated photovoltaic (CPV) systems, also termed as “concentration photovoltaics”, imply technology that generates electricity using optical light collectors. It is composed of a tracker, solar cell and optics.

The factors that are playing a major role in the growth of the market are the low system cost with higher efficiency, a growing number of R&D activities, the rising product innovation, and the rising demand from the end-users. However, issues related to the acceptance of technology may restrain overall market growth in the years to come. Concentrated photovoltaic systems market is segmented based on technology, concentrated level, application, and region.

Refractor and reflector are the enhanced technology used that could be explored in concentrated photovoltaic systems in the forecast period. Refractor sector comprises luminescent concentrators and Fresnel lens. Whereas, reflector sector comprises a parabolic mirror. The refractor sector accounted for the significant market share of concentrated photovoltaic systems and is estimated to continue its dominance in the years to come. The reason could be the growing preference for Fresnel lens.

Based on concentrated level, low concentrated photovoltaic (LCPV) and high concentrated photovoltaic (HCPV) could classify concentrated photovoltaic systems in the forecast period. The high concentrated photovoltaic (HCPV) sector accounted for the substantial market share of concentrated photovoltaic systems and is estimated to lead the overall market in the years to come. The reason could be the rising concentration the part of the industry for better efficiency output.

The market could be categorized based on applications like commercial, utility-scale, and others that could be explored in the forecast period. The utility-scale application accounted for the substantial market share of concentrated photovoltaic systems and is estimated to lead the overall market in the years to come.

Globally, Asia Pacific accounted for the substantial market share of concentrated photovoltaic systems and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rapid industrialization in the region and the huge investment in the waste recycling and services industries. The developing countries like India and China are the major consumers of concentrated photovoltaic systems in this region.

The key players of concentrated photovoltaic systems market are Ravano Green Powers, Amonix, Magpower, Soitec, Zytech Solar, Isofoton, SolarSystems, Semprius, Sunpower Corporations, Arzon Solar, Saint-Augustin Canada Electric, BSQ Solar, and Guangdong Redsolar Photovoltaic Technology. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

Market Segment:

This report focuses on the global top players, covered
• Arzon Solar
• BSQ Solar
• Guangdong Redsolar Photovoltaic Technology
• Magpower
• Saint-Augustin Canada Electric
• San'an Optoelectronics

Market segment by Regions/Countries, this report covers
• United States
• Europe
• China
• Japan
• Southeast Asia
• India

Market segment by Type, the product can be split into
• HCPV
• LCPV

Market segment by Application, Concentrated Photovoltaic Systems can be split into
• Municipal
• Power Plants
• Other

The key points of this report are:
• To study and forecast the market size of Concentrated Photovoltaic Systems in global market.
• To analyze the global key players, SWOT analysis, value and global market share for top players.
• To define, describe and forecast the market by type, end use and region.
• To analyze and compare the market status and forecast between China and major regions, namely, United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
• To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.