Concentrated Photovoltaic (CPV) Market Developments, Competitive Analysis, Forec

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6. MarketOverview By 2030, the global market for concentrated photovoltaic (CPV) is expected to be worth USD 4.81 billion, with a CAGR of 17.0% during the forecast period. (2022 - 2030).CPV technology is likely to be used in more places as the need for grid-connected energy rises and people become more aware of the benefits of using renewable resources to make electricity.Since the price of traditional PV panels has dropped sharply, there is more interest in CPV and other silicon-based solar technologies. CPVs also have a small footprint, and their popularity is likely to grow in the near future. Solar technology is often used in places where the sun shines directly on it. Since the business is still young, it's mostly used for special things. On the global market for concentrating solar cells, the main things that makers think about are performance, cost, reliability, and trade-offs.Size, estimates, and forecasts of the Concentrated Photovoltaic (CPV) Market are given in terms of sales volume (K units) and income (million USD), with historical and forecast data for the years 2017 to 2030, with 2022

7. By Region: In 2016, Asia-Pacific was the biggest market by volume, with a share of just over 50.0%. China is the main driver of demand in this area. From 2017 to 2025, China's CAGR was 12.2%. The Chinese government's 13th Five-Year Plan tries to reduce the country's carbon footprint, which is driving CPV installations in China. It also has a high direct normal irradiance to China, which is expected to boost the market.The Middle East and Africa are projected to grow at the second-fastest rate. Rising installations in South Africa are the main reason for this. Dune-covered areas get the most sunlight per square foot, which makes it much easier to put CPV. During the forecast period, upcoming solar projects in Morocco and Jordan are likely to add to the demand for concentrating solar power.From 2017 to 2025, the North American CPV market is projected to grow at a compound annual growth rate (CAGR) of 10.9%. Most of the market for this technology comes from the United States and Canada, where state and federal policies are good for it.

8. The Global Concentrated Photovoltaic (CPV) Markethas been segmented into: • By Type: • LCPV • HCPV • By Application: • Commercial • Utility-Scale • Others

9. The Global Concentrated Photovoltaic (CPV) Markethas been segmented into: • By Region • Europe • Germany • France • Italy • Spain • UK • Nordic Countries • Denmark • Finland • Iceland • Sweden • Norway • Benelux Union • Belgium • The Netherlands • Luxembourg • Rest of Europe • By Region • North America • US • Canada • Mexico • Rest of North America • The Middle East & Africa • Saudi Arabia • UAE • Egypt • South Africa • Rest of the Middle East & Africa • Latin America • Brazil • Argentina • Rest of Latin America • ByRegion • Asia-Pacific • Japan • China • India • Australia • South Korea • Southeast Asia • Indonesia • Thailand • Malaysia • Singapore • Rest of Southeast Asia • Rest of Asia-Pacific

10. Key Market Updates: • In December 2017, Silfab Solar Inc. formed a joint venture with Morgan Solar Inc. to develop and produce disruptive, low-cost PV modules specifically designed for large-scale commercial and utility-scale projects. This JV connects two of the most innovative and technologically innovative companies in the solar industry, sharing knowledge and experience to produce high-volume, high-quality solar modules at internationally competitive costs.

11. Market Players • Arzon Solar (Amonix) • IsofotonS.A. • Magpower • SempriusInc. • Soitec • Solar Junction • Others.

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