Concentrated Photovoltaic Systems Market Size 2025-2029
The concentrated photovoltaic systems market size is valued to increase by USD 1.85 billion, at a CAGR of 9.9% from 2024 to 2029. Advantages of CPV systems will drive the concentrated photovoltaic systems market.
Major Market Trends & Insights
- APAC dominated the market and accounted for a 53.7% growth during the forecast period.
- By Technology - HCPV segment was valued at USD 2.46 billion in 2023
- By Application - Utility-scale power generation segment accounted for the largest market revenue share in 2023
Market Size & Forecast
- Market Opportunities: USD 2.50 billion
- Market Future Opportunities: USD 1.85 billion
- CAGR from 2024 to 2029 : 9.9%
Market Summary
What will be the Size of the Concentrated Photovoltaic Systems Market during the forecast period?
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How is the Concentrated Photovoltaic Systems Market Segmented?
The concentrated photovoltaic systems industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
- Technology
- HCPV
- LCPV
- Application
- Utility-scale power generation
- Commercial installations
- Remote and off-grid systems
- Component
- Solar cells
- Lenses and mirrors
- Dual-axis trackers
- Geography
- APAC
- India
- China
- Japan
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Spain
- France
- South America
- Brazil
- Argentina
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of World (ROW)
- APAC
By Technology Insights
The hcpv segment is estimated to witness significant growth during the forecast period.
The HCPV segment was valued at USD 2.46 billion in 2023 and showed a gradual increase during the forecast period.
Regional Analysis
APAC is estimated to contribute 53.7% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Market Dynamics
Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
What are the key market drivers leading to the rise in the adoption of Concentrated Photovoltaic Systems Industry?
What are the market trends shaping the Concentrated Photovoltaic Systems Industry?
What challenges does the Concentrated Photovoltaic Systems Industry face during its growth?
Exclusive Technavio Analysis on Customer Landscape
The concentrated photovoltaic systems market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the concentrated photovoltaic systems market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Concentrated Photovoltaic Systems Industry
Competitive Landscape
Companies are implementing various strategies, such as strategic alliances, concentrated photovoltaic systems market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
ARIMA Group -
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- ARIMA Group
- Arzon Solar LLC
- BSQ Solar
- Chiyoda Corp.
- Cool Earth Solar
- Green Rhino Energy Ltd.
- Macsun Solar Energy Tech Co. Ltd.
- Ravano Green Powers
- Saint Augustin Canada Electric Inc.
- Sanan Optoelectronics Co. Ltd.
- Siemens Energy AG
- Solartron Energy
- Sumitomo Electric Industries Ltd.
- Valldoreix Greenpower SLU
- Whitefield Solar
- Zytech Solar
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Recent Development and News in Concentrated photovoltaic systems market
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Concentrated Photovoltaic Systems Market insights. See full methodology.
| Market Scope | |
|---|---|
| Page number | 285 |
| Base year | 2024 |
| Historic period | 2019-2023 |
| Forecast period | 2025-2029 |
| Growth momentum & CAGR | Accelerate at a CAGR of 9.9% |
| Market growth 2025-2029 | USD 1845.0 million |
| Market structure | Fragmented |
| YoY growth 2024-2025(%) | 9.1% |
| Key countries | India, China, Japan, South Korea, Australia, Indonesia, US, Canada, Mexico, Germany, Spain, France, Italy, The Netherlands, UK, Brazil, Argentina, Chile, UAE, Saudi Arabia, Egypt, South Africa and Morocco |
| Competitive landscape | Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Research Analyst Overview
What are the Key Data Covered in this Concentrated Photovoltaic Systems Market Research and Growth Report?
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What is the expected growth of the Concentrated Photovoltaic Systems Market between 2025 and 2029?
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USD 1.85 billion, at a CAGR of 9.9%
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What segmentation does the market report cover?
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The report is segmented by Technology (HCPV, and LCPV), Application (Utility-scale power generation, Commercial installations, and Remote and off-grid systems), Component (Solar cells, Lenses and mirrors, and Dual-axis trackers) and Geography (APAC, North America, Europe, South America, Middle East and Africa)
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Which regions are analyzed in the report?
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APAC, North America, Europe, South America and Middle East and Africa
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What are the key growth drivers and market challenges?
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Advantages of CPV systems, Declining cost of solar PV modules
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Who are the major players in the Concentrated Photovoltaic Systems Market?
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ARIMA Group, Arzon Solar LLC, BSQ Solar, Chiyoda Corp., Cool Earth Solar, Green Rhino Energy Ltd., Macsun Solar Energy Tech Co. Ltd., Ravano Green Powers, Saint Augustin Canada Electric Inc., Sanan Optoelectronics Co. Ltd., Siemens Energy AG, Solartron Energy, Sumitomo Electric Industries Ltd., Valldoreix Greenpower SLU, Whitefield Solar and Zytech Solar
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Market Research Insights
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