Concentrator photovoltaic (CPV) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024

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REPORT DESCRIPTION
Global Concentrator Photovoltaic Market: Overview
Concentrator photovoltaic (CPV) technology entered the market in the mid-2000s as a utility scale solar power generation option. While the
technology has witnessed widespread acclaim and a significant number of installations across the globe in the past few years, it is still at a
nascent stage of development. When compared to conventional flat-plate PV, which have been lauded for their easy application in domestic
settings and rooftops of public and private buildings, the concentrator photovoltaic technology is a relatively small player in the overall solar
power generation market.
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Recently, the CPV industry has witnessed turbulent times with the number of new installations significantly declining in 2015 as compared to the
past. Many major CPV companies have exited the market owing to increased pressures from declining costs of other PV technologies where
many others are facing difficulties in raising the capital required to experiment and grow.
Nevertheless, CPV modules continue to improve in terms of efficiency, realizing conversion rates far beyond what is possible from traditional flatpanel PV modules. Continuous research efforts in the field have led to the development of modules that have efficiencies of up to 43%, the
highest of all existing PV technologies. Researchers believe the technology still has room for improvement in the future, providing a way for
achieving significant reduction in overall system costs.
This report on the global CPV market attempts at exploring the current state of the CPV market, technology, research, and innovations. The
report also gives thorough insights into the market’s growth trajectory over the past few years, highlighting the shifting trends of consumers and
technology developers in the global CPV market. Reliable qualitative and quantitative data pertaining to other crucial market elements is also
included in the report.
Global Concentrator Photovoltaic Market: Trends and Opportunities
Concentrator photovoltaics are solar power generation systems which, unlike conventional photovoltaic systems, use lenses and curved mirrors
for focusing sunlight onto a small but highly efficient area of the PV cell. CPV systems often employ solar trackers to further increase its efficiency.
Concentrator photovoltaic systems are mostly of interest to power generation projects located in sun-rich locations that receive direct normal
irradiance (DNI) values of more than 2000 kWh. These PV systems are not suitable for installation on rooftops, thus limiting their scope of
application to an extent.
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CPV systems are differentiated according to the system’s concentration factor. As such, there are two broad segments of CPV systems: High
concentration PV (HCPV) and low concentration PV (LCPV). So far, a massive share in the overall CPV capacity installed across the globe is
accounted by high concentration PV with dual axis tracking, with large-scale power plants being the leading consumer. A major reason for the
increased installation of HCPV across large-scale power plants is the significant improvement in the efficiency of individual modules and
substantial reduction in area-related costs of the overall power generation project. HCPV is also more preferable in hot climates, since the output
of the PV cells used does not decline as rigorously as that of conventional crystalline silicon cells at high temperatures.
Global Concentrator Photovoltaic Market: Region-wise Outlook
Presently, China has the largest CPV power plant in operation making Asia Pacific one of the leading markets for the global CPV market. Over the
report’s forecast period as well, Asia Pacific will continue to dominate the CPV space. The Middle East and Africa regional segment will also
present many lucrative growth opportunities. The U.S. and Europe also account for a major share in the world’s presently installed CPV capacity.
Global Concentrator Photovoltaic Market: Competitive Landscape
Many CPV companies have come into bankruptcy, have closed operations, have moved away from CPV to standard PV, or have been acquired by
larger PV companies. However, it should be noted that such type of consolidation is typical of most nascent-stage markets or industries. Many
companies still continue working on CPV modules and the rate of innovation and technological development is highly motivating.
Some of the major players in the global CPV market are Ravano Green Powers, Sunpower Corporation, Zytech Solar, and Soitec.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections
about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so,
the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional
markets, technology, types, and applications.
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China has largest Concentrator Photovoltaics CPV power plant in operation making Asia Pacific the leading markets for global Concentrator photovoltaics CPV market, Concentrator photovoltaic CPV technology entered the market in the mid-2000s as a utility scale solar power generation option Download the Excluisve Report Sample Here : http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=12692