About Concentrator Solar Cell
Growing awareness about the use of renewable resources for power generation will help to boost global concentrator solar cell market. Concentrator Solar Cell also known as concentration photovoltaics is a photovoltaic technology that generates electricity from sunlight. Low-cost and large-scale applications, rapidly growing market on account of increasing power demand will act as major drivers of global concentrator solar cell market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 14.2% |
The Manufacturers having a strong hold in the market are Zytech Solar, Sunpower Corporation, Suncore Photovoltaic Technology, and Solar Junction Corporation. Analyst at AMA Research estimates that European Manufacturers will contribute the maximum growth to Global Concentrator Solar Cell 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.
Zytech Solar Pvt. Ltd. (Spain), Sunpower Corporation (United States), Suncore Photovoltaic Technology Co. Ltd. (China), Solar Junction Corporation (United States), Semprius Inc. (United States), Ravano Green Power s.r.l. (Italy), Magpower Inc. (Portugal), Isofoton S.A. (Spain), Amonix, Inc. (United States) and Abengoa Solar (Spain) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Emcore Corporation (United States) and Soitec SA (France).
Segmentation Overview
AMA Research has segmented the market of Global Concentrator Solar Cell market by Type (Low concentration Photovoltaics (LCPV), Medium concentration Photovoltaics and High concentration Photovoltaics (HCPV)) and Region.
On the basis of geography, the market of Concentrator Solar Cell 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 Distribution Channel, the sub-segment i.e. Offline will boost the Concentrator Solar Cell market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Continuous increase in Conversion Efficiency of Multi-junction Solar Cells and Growing Demand for New Optical Designs in Concentrated Solar Cells
Market Growth Drivers:
Light Weight and Durable Nature Improves Operational Efficiency and Provides better Conversion Rate with the use of Direct Solar Radiation
Challenges:
Lack of Awareness and Availability of Cheaper Substitutes and Complex Initial Installations and Higher Post Purchase Maintenance
Restraints:
Possibility of Light Loss due to Incidence on the Graft Facet and Lack of Efficient Tracking System to Increase Efficiency
Opportunities:
Portable Nature of these Cells minimizes the Distribution Overheads and Growing Demand for Renewable Energy Sources and Government Reimbursements
Market Leaders and their expansionary development strategies
On January 23rd, 2019, Mag One Products Inc. has finalized an agreement with Tech Magnesium, creating the roadmap for Mag One?s acquisition of its silicothermic and aluminothermic reduction processes for low cost, environmentally-friendly production of primary magnesium metal. This agreement outlines three phases of development and demonstration work with the final phase involving the design, construction and start-up of Mag One?s first 5,000 tonne per year primary Mg metal module with additional modules being brought online to coincide with market pull.
Key Target Audience
Concentrated Solar Cell Manufacturers, Concentrated Solar Cell Distributors and Traders, Non Renewable Energy Protection Regulators, Government Agencies, Upstream and Downstream Buyers, Research and Development Organizations 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.