About Solar Concentrated Photovoltaic
Solar-concentrated photovoltaic is a technology that is used to produce electricity by concentrating the sun’s rays with the help of an optical device. Additionally, increasing the efficiency of photovoltaic cells that convert energy from sunlight into electricity. The environmental and climate objectives require the various countries in the world to introduce changes concerning power generation. For instance, the European energy sector is going through a transformation caused by the commitments to reduce CO2 emission, the surging penetration of renewable sources, and the need for reliable and reasonably priced energy supplies to boost the adoption of very market in the upcoming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Solar Concentrated Photovoltaic market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Solar Concentrated Photovoltaic market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Solar Concentrated Photovoltaic market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Arzon Solar LLC. (United States), Green Energy Corp. (United States), Sunpower Corporation (United States), Morgan Solar Inc. (Canada), Silex (Australia), Suncore (China), Magpower Inc. (Portugal), Isofoton S.A (Spain) and Semprius Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Soitec (France), Zytech Solar (Spain) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Solar Concentrated Photovoltaic market by Type (Refractors and Reflectors), Application (Commercial, Utility-Scale and Other) and Region.
On the basis of geography, the market of Solar Concentrated Photovoltaic has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Degree of Concentration, the sub-segment i.e. Low Concentrated Photovoltaic (LCPV) will boost the Solar Concentrated Photovoltaic market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Continuous Improvements in Design and Technology by Key Market Players
Market Growth Drivers:
Growing Demand and Stringent Government Regulations Pertaining to the Use of Limited Natural Resources and Small, Medium, and Large-Scale Applications Act as Major Drivers in the Growth of the Very Market
Challenges:
High-Cost of Solar-Concentrated Photovoltaic Products and Lack of Flexibility and Integration in the Grid
Restraints:
Limited Adoption Rate of Solar Concentrated Photovoltaic in both Developing and Underdeveloped Nations
Opportunities:
The Growth in the Adoption of Renewable Energy Resources Globally and Increasing Demand for High-Efficiency and Low-Cost Modules among Manufacturers
Market Leaders and their expansionary development strategies
In March 2021, ENGIE, announce that it has reached an agreement to acquire from Abengoa a 40% equity stake in Xina Solar One, a 100 MW Concentrated Solar plant, as well as 46% of the Operations & Maintenance Company.
In December 2023, The Vice President and Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum has officially launched the world’s largest concentrated solar power (CSP) project. This significant milestone is part of the 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.
The Mediterranean Solar Plan (MSP) aims to complement existing Euro-Mediterranean activities and to work within existing renewable energy structures and associated grid infrastructure development projects and will focus on creating an adequate regulatory, economic, and organizational environment to enable the development and large-scale deployment of solar energy and other renewable energy technologies in the Mediterranean region, with the ultimate goal of helping the European Union meet its energy and climate goals for 2020 and beyond.
Key Target Audience
Solar Concentrated Photovoltaic Manufacturers, Raw Material Suppliers/Distributors, Component Suppliers/Distributors, Technology Providers, Semiconductor Companies, Government and Private Organisations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.