Concentrated Photovoltaic Systems Market Size 2025-2029
The concentrated photovoltaic systems market size is forecast to increase by USD 1.8 billion, at a CAGR of 9.9% between 2024 and 2029.
The global concentrated photovoltaic systems market is driven by systems that offer significant advantages, including higher conversion efficiency. This is particularly relevant for the concentrating solar power sector, where maximizing energy output from a limited footprint is crucial. The development of hybrid systems, which couple CPV with other power generation technologies to utilize waste heat, is a key trend. This approach involves a solar thermal receiver and an organic rankine cycle (ORC) to generate additional electricity. Such innovations in building integrated photovoltaics enhance overall system performance, making the technology more competitive. The market focuses on high-efficiency solar power generation through advanced cell assembly and thermal management systems.However, the market's growth is constrained by the declining cost of traditional crystalline silicon solar photovoltaic (PV) modules, a major challenge that has led some manufacturers to shift focus. While CPV systems offer superior efficiency, ongoing improvements in conventional solar pv balance of systems (BOS) and thin film solar pv modules are increasing the competitiveness of traditional PV technology. This intense price pressure affects the adoption of CPV systems, despite their advantages in high direct normal irradiance (DNI) regions. The competition underscores the need for continuous innovation in CPV to reduce the levelized cost of energy (LCOE) and expand its market share.
What will be the Size of the Concentrated Photovoltaic Systems Market during the forecast period?
Explore in-depth regional segment analysis with market size data - historical 2019 - 2023 and forecasts 2025-2029 - in the full report.
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The global concentrated photovoltaic systems market is defined by a continuous drive for innovation in high-efficiency photovoltaics. The development of advanced solar technologies, such as III-V semiconductor materials and multi-junction solar cells, is central to improving conversion efficiency. This evolution is critical for the concentrating solar power sector, where performance directly impacts the levelized cost of energy (LCOE) and project bankability. Research focuses on refining concentrating optics and enhancing thermal management systems to sustain high performance under intense solar irradiance.System-level integration and reliability are equally crucial areas of ongoing development. The performance of dual-axis solar trackers and their control units is fundamental to maximizing energy yield optimization. The market is also exploring the integration of energy storage solutions to address the intermittency of solar power, a key factor for grid connected pv systems market. These efforts are aimed at improving the overall reliability and dispatchability of CPV plants, making them a more competitive option against other renewable and conventional energy sources.
How is this Concentrated Photovoltaic Systems Industry 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
- 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
- South Korea
- Australia
- Indonesia
- North America
- Europe
- Germany
- Spain
- France
- Italy
- The Netherlands
- UK
- South America
- Middle East and Africa
- Rest of World (ROW)
By Technology Insights
The hcpv segment is estimated to witness significant growth during the forecast period.
High Concentration Photovoltaic (HCPV) systems represent a technologically advanced segment focused on maximizing energy conversion. These systems employ sophisticated optics, like fresnel lenses or parabolic mirrors, to concentrate sunlight at ratios often exceeding 300 suns. This intense concentration necessitates the use of high-performance multi-junction solar cells, typically made from III-V semiconductor materials, which can achieve conversion efficiencies over 36%. This exceptional efficiency makes HCPV particularly suitable for utility-scale power generation in regions with high direct normal irradiance.
The primary advantage of HCPV technology is its ability to generate more power from a smaller semiconductor area, which can offset the high cost of the advanced solar cells. The market for HCPV is driven by the demand for land-use efficiency and high power density in large-scale solar projects. Continuous advancements in cell design and dual-axis tracking systems are key to enhancing energy yields and improving the technology's economic viability. Governmental support for advanced solar technologies further stimulates growth in this segment.
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The HCPV segment was valued at USD 2.1 billion in 2019 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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The APAC region is the largest and most dynamic segment in the global concentrated photovoltaic systems market, holding a substantial revenue share of the global market. This leadership is driven by rapid industrialization and soaring energy demands in key countries like China and India. Governments across APAC are actively promoting renewable energy through supportive policies and financial incentives, such as national solar missions and five-year plans, to reduce fossil fuel dependency. The availability of vast land with high solar irradiance further supports the deployment of large-scale CPV projects.
APAC's dominance extends to manufacturing, with the region hosting a significant portion of the global solar supply chain. This industrial strength, combined with strong government backing and escalating energy needs, positions the region for continued leadership. With over 53% of the incremental growth opportunity, the market in APAC is supported by massive investments in all forms of solar technology. The combination of deployment and production capabilities creates a robust ecosystem for the growth of advanced solar solutions, including concentrated photovoltaics.
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.
The global Concentrated Photovoltaic (CPV) systems market is driven by the pursuit of higher efficiency in solar energy conversion, particularly for utility-scale applications. The core of this technology revolves around using high-efficiency multi-junction solar cells, often based on advanced III-V semiconductor cells, to maximize power output. This is achieved through sophisticated concentrating optics for photovoltaics which focus sunlight onto these small, powerful cells. To ensure maximum energy capture throughout the day, systems employ precise dual-axis solar tracking systems for continuous direct normal irradiance optimization. A key market driver is the promise of superior land-use efficiency in solar farms compared to traditional PV, making CPV for utility-scale power an attractive proposition in regions with high solar resources.However, achieving widespread adoption requires addressing several critical factors. Effective thermal management of photovoltaic cells is paramount due to the high concentration of solar energy. Engineers are constantly working to minimize optical losses in concentrating systems and improve the reliability of solar tracking mechanisms. A comprehensive techno-economic analysis of CPV is essential for demonstrating long-term viability, focusing on levelized cost of energy reduction. This involves detailed performance modeling of CPV systems and robust CPV system design and integration. Innovations in manufacturing processes for fresnel lenses and solar cell assembly for high concentration are key to cost-effective production. Furthermore, exploring hybrid CPV and thermal systems, understanding the specifics of CPV application in arid regions, and planning for the integration of energy storage with CPV are crucial for market expansion. Finally, a thorough assessment of the environmental impact of CPV materials is necessary for sustainable development.
What are the key market drivers leading to the rise in the adoption of Concentrated Photovoltaic Systems Industry?
- The primary advantage driving the market is the superior conversion efficiency of Concentrated Photovoltaic systems, particularly when integrated into hybrid configurations that utilize waste heat for additional power generation.
Concentrated photovoltaic (CPV) systems provide notable advantages, primarily their higher conversion efficiency over conventional solar technologies. A significant portion of solar energy in these systems is dissipated as waste heat, which can be harnessed by integrating CPV with other power generation methods like concentrating solar power or thermal generation. This hybrid model involves a solar thermal receiver and organic rankine cycle (ORC) equipment, allowing the system to convert waste heat into additional electricity. This process of energy yield optimization through a hybrid cpv/csp design delivers a highly efficient power generation solution, enhancing the technology's value proposition by maximizing output from the initial solar irradiance.The market is also supported by a significant increase in renewable energy investments worldwide. With renewables expected to contribute over 28% to global electricity production in the coming years, the financial landscape is becoming more favorable for advanced solar technologies. Although traditionally more expensive than conventional power, the cost of renewable technologies is falling, making them competitive with new fossil fuel plants. This shift is driven by the need to reduce carbon emissions and achieve energy security. Government initiatives promoting clean energy through financial incentives are further stimulating investments, creating a strong foundation for the adoption of high-efficiency solutions.
What are the market trends shaping the Concentrated Photovoltaic Systems Industry?
- A key market trend is the development of hybrid systems that couple Concentrated Photovoltaic technology with other power generation methods to capture and utilize waste heat, thereby maximizing overall energy output.
The emergence of hybrid CPV systems represents a significant market trend, driven by the pursuit of higher conversion efficiency. While these systems excel at converting sunlight to electricity, a substantial amount of energy is lost as waste heat. Innovations are focused on integrating concentrating solar power or other thermal generation systems to capture this dissipated heat. Using components like an evaporative cooling subsystem and a solar thermal receiver, this waste heat is used to produce superheated vapor, which then generates additional electricity via an organic rankine cycle. This hybrid approach to solar power generation creates a high-efficiency solution, leveraging the full spectrum of available solar energy and enhancing overall performance. This trend is crucial for the concentrating solar collectors market.Rising investments in renewable energy, particularly in developing regions, are creating new opportunities for the global concentrated photovoltaic systems market. The demand for clean and sustainable energy solutions is increasing as nations aim to mitigate climate change and reduce their carbon footprint. This has led to a greater focus on distributed solar power generation and off-grid solar power systems market. These systems are gaining traction for their ability to harness solar energy efficiently, using concentrating optics to achieve higher power output from a smaller area. With a significant portion of market opportunity, approximately 53.67%, concentrated in these emerging economies, the rising investments are a key indicator of future market direction.
What challenges does the Concentrated Photovoltaic Systems Industry face during its growth?
- A significant market challenge stems from the continuously declining prices of conventional solar PV modules, which creates intense price competition and hinders the broader adoption of higher-cost CPV technology.
One of the primary challenges for the concentrated photovoltaic (CPV) industry is the continuous and sharp decline in the prices of conventional solar photovoltaic (PV) modules. This economic pressure has had a significant impact, causing some specialized CPV manufacturers to face financial difficulties or shift their production to standard PV modules. As the cost of traditional solar installations falls, the market's focus has intensified on these more established technologies. Although CPV offers higher conversion efficiency, the narrowing performance gap and widening cost differential make it difficult to compete, thereby hindering market growth for high-efficiency photovoltaics.The global concentrated photovoltaic systems market faces intense competition from a variety of alternative energy sources. While CPV technology is highly efficient in regions with high direct sunlight, it contends with established renewables like conventional solar PV, wind, and hydropower. Standard PV panels benefit from lower capital costs, mature supply chains, and greater ease of installation, making them the preferred choice for many applications. This is a significant factor, as renewable sources already account for approximately one-fourth of global power generation. The widespread availability and cost-effectiveness of these alternatives limit the broader adoption of CPV, despite its performance advantages in specific environments.
Exclusive 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
Key Companies & Market Insights
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 - Offerings in the market encompass a range of advanced solar energy solutions designed for high-efficiency power generation. These include integrated concentrated photovoltaic systems, standalone high and low concentration modules, and critical sub-components such as high-performance multi-junction solar cells. Providers also supply precision dual-axis solar tracking systems essential for maximizing energy yield. These technologies are engineered for various applications, including utility-scale power plants in high-DNI regions, commercial installations seeking high power density, and specialized off-grid energy solutions. The offerings are focused on delivering superior energy conversion efficiency and optimizing the levelized cost of energy through technological innovation.
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
In February 2024, Siemens Energy AG secured a contract to supply its advanced gas turbine technology for a new, highly efficient power plant, underscoring its role in grid stability and the transition to cleaner energy systems.In January 2024, Sumitomo Electric Industries Ltd. announced the development of a new, high-performance reflective coating for automotive sensors, a technology that leverages its expertise in advanced materials relevant to optical and energy applications.In February 2024, Chiyoda Corp. was involved in strategic discussions regarding the development of next-generation energy infrastructure, focusing on hydrogen and carbon capture utilization and storage (CCUS) projects.
Research Analyst Overview
The global concentrated photovoltaic systems market is characterized by advancements in both high concentration photovoltaic and low concentration photovoltaic designs. Central to these advanced solar technologies are multi-junction solar cells, often utilizing iii-v semiconductor materials like gallium arsenide cells to achieve superior conversion efficiency. The effectiveness of these systems hinges on the design of concentrating optics, including fresnel lenses and parabolic mirrors, which determine the solar concentration ratio. Achieving optimal optical efficiency requires precise dual-axis solar trackers governed by a sophisticated solar tracker control unit to maintain focus on direct normal irradiance (DNI). The evolution of solar cell manufacturing and semiconductor fabrication processes is critical for improving system reliability and the overall process of solar power generation through refined photovoltaic materials.System-level integration is pivotal for maximizing power density and achieving a lower levelized cost of energy (LCOE), with the market showing a potential expansion of 12% in deployments for utility-scale installations. Effective thermal management systems are essential, particularly in high-efficiency photovoltaics, for stable operation. The development of hybrid CPV systems, which can incorporate solar thermal receivers and an organic rankine cycle (ORC), represents a key area for energy yield optimization. Detailed solar resource assessment and continuous solar irradiance measurement inform strategies for both on-grid infrastructure and off-grid power systems. Innovations in cell assembly, coupled with module-level power electronics, contribute to enhanced land-use efficiency.
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.
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Market Scope
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Report Coverage
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Details
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Page number
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287
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Base year
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2024
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Historic period
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2019 - 2023 |
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Forecast period
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2025-2029
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Growth momentum & CAGR
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Accelerating at a CAGR of 9.9%
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Market growth 2024-2029
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USD 1.8 billion
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Market structure
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Fragmented
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YoY growth 2024-2029(%)
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9.1%
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Key countries
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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, Morocco
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Competitive landscape
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Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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What are the Key Data Covered in this Concentrated Photovoltaic Systems Market Research and Growth Report?
- CAGR of the Concentrated Photovoltaic Systems industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2029
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across APAC, North America, Europe, South America, Middle East and Africa
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the concentrated photovoltaic systems market growth of industry companies
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1 Executive Summary
- 1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Technology
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by Component
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Chart on Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Chart on Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Chart on Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
- 3 Market Landscape
- 3.1 Market ecosystem
- Chart on Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Chart on Market characteristics analysis
- 3.3 Value chain analysis
- Chart on Value chain analysis
4 Market Sizing
- 4 Market Sizing
- 4.1 Market definition
- Data Table on Offerings of companies included in the market definition
- 4.2 Market segment analysis
- 4.3 Market size 2024
- 4.4 Market outlook: Forecast for 2024-2029
- Chart on Global - Market size and forecast 2024-2029 ($ billion)
- Data Table on Global - Market size and forecast 2024-2029 ($ billion)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
- 5 Historic Market Size
- 5.1 Global Concentrated Photovoltaic Systems Market 2019 - 2023
- Historic Market Size - Data Table on Global Concentrated Photovoltaic Systems Market 2019 - 2023 ($ billion)
- 5.2 Technology segment analysis 2019 - 2023
- Historic Market Size - Technology Segment 2019 - 2023 ($ billion)
- 5.3 Application segment analysis 2019 - 2023
- Historic Market Size - Application Segment 2019 - 2023 ($ billion)
- 5.4 Component segment analysis 2019 - 2023
- Historic Market Size - Component Segment 2019 - 2023 ($ billion)
- 5.5 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ billion)
- 5.6 Country segment analysis 2019 - 2023
- Historic Market Size - Country Segment 2019 - 2023 ($ billion)
6 Qualitative Analysis
- 6 Qualitative Analysis
- 6.1 Impact of AI on the global concentrated photovoltaic systems market
7 Five Forces Analysis
- 7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
- 7.7 Market condition
- Chart on Market condition - Five forces 2024 and 2029
8 Market Segmentation by Technology
- 8 Market Segmentation by Technology
- 8.1 Market segments
- Chart on Technology - Market share 2024-2029 (%)
- Data Table on Technology - Market share 2024-2029 (%)
- 8.2 Comparison by Technology
- Chart on Comparison by Technology
- Data Table on Comparison by Technology
- 8.3 HCPV - Market size and forecast 2024-2029
- Chart on HCPV - Market size and forecast 2024-2029 ($ billion)
- Data Table on HCPV - Market size and forecast 2024-2029 ($ billion)
- Chart on HCPV - Year-over-year growth 2024-2029 (%)
- Data Table on HCPV - Year-over-year growth 2024-2029 (%)
- 8.4 LCPV - Market size and forecast 2024-2029
- Chart on LCPV - Market size and forecast 2024-2029 ($ billion)
- Data Table on LCPV - Market size and forecast 2024-2029 ($ billion)
- Chart on LCPV - Year-over-year growth 2024-2029 (%)
- Data Table on LCPV - Year-over-year growth 2024-2029 (%)
- 8.5 Market opportunity by Technology
- Market opportunity by Technology ($ billion)
- Data Table on Market opportunity by Technology ($ billion)
9 Market Segmentation by Application
- 9 Market Segmentation by Application
- 9.1 Market segments
- Chart on Application - Market share 2024-2029 (%)
- Data Table on Application - Market share 2024-2029 (%)
- 9.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
- 9.3 Utility-scale power generation - Market size and forecast 2024-2029
- Chart on Utility-scale power generation - Market size and forecast 2024-2029 ($ billion)
- Data Table on Utility-scale power generation - Market size and forecast 2024-2029 ($ billion)
- Chart on Utility-scale power generation - Year-over-year growth 2024-2029 (%)
- Data Table on Utility-scale power generation - Year-over-year growth 2024-2029 (%)
- 9.4 Commercial installations - Market size and forecast 2024-2029
- Chart on Commercial installations - Market size and forecast 2024-2029 ($ billion)
- Data Table on Commercial installations - Market size and forecast 2024-2029 ($ billion)
- Chart on Commercial installations - Year-over-year growth 2024-2029 (%)
- Data Table on Commercial installations - Year-over-year growth 2024-2029 (%)
- 9.5 Remote and off-grid systems - Market size and forecast 2024-2029
- Chart on Remote and off-grid systems - Market size and forecast 2024-2029 ($ billion)
- Data Table on Remote and off-grid systems - Market size and forecast 2024-2029 ($ billion)
- Chart on Remote and off-grid systems - Year-over-year growth 2024-2029 (%)
- Data Table on Remote and off-grid systems - Year-over-year growth 2024-2029 (%)
- 9.6 Market opportunity by Application
- Market opportunity by Application ($ billion)
- Data Table on Market opportunity by Application ($ billion)
10 Market Segmentation by Component
- 10 Market Segmentation by Component
- 10.1 Market segments
- Chart on Component - Market share 2024-2029 (%)
- Data Table on Component - Market share 2024-2029 (%)
- 10.2 Comparison by Component
- Chart on Comparison by Component
- Data Table on Comparison by Component
- 10.3 Solar cells - Market size and forecast 2024-2029
- Chart on Solar cells - Market size and forecast 2024-2029 ($ billion)
- Data Table on Solar cells - Market size and forecast 2024-2029 ($ billion)
- Chart on Solar cells - Year-over-year growth 2024-2029 (%)
- Data Table on Solar cells - Year-over-year growth 2024-2029 (%)
- 10.4 Lenses and mirrors - Market size and forecast 2024-2029
- Chart on Lenses and mirrors - Market size and forecast 2024-2029 ($ billion)
- Data Table on Lenses and mirrors - Market size and forecast 2024-2029 ($ billion)
- Chart on Lenses and mirrors - Year-over-year growth 2024-2029 (%)
- Data Table on Lenses and mirrors - Year-over-year growth 2024-2029 (%)
- 10.5 Dual-axis trackers - Market size and forecast 2024-2029
- Chart on Dual-axis trackers - Market size and forecast 2024-2029 ($ billion)
- Data Table on Dual-axis trackers - Market size and forecast 2024-2029 ($ billion)
- Chart on Dual-axis trackers - Year-over-year growth 2024-2029 (%)
- Data Table on Dual-axis trackers - Year-over-year growth 2024-2029 (%)
- 10.6 Market opportunity by Component
- Market opportunity by Component ($ billion)
- Data Table on Market opportunity by Component ($ billion)
11 Customer Landscape
- 11 Customer Landscape
- 11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Geographic Landscape
- 12 Geographic Landscape
- 12.1 Geographic segmentation
- Chart on Market share by geography 2024-2029 (%)
- Data Table on Market share by geography 2024-2029 (%)
- 12.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 12.3 APAC - Market size and forecast 2024-2029
- Chart on APAC - Market size and forecast 2024-2029 ($ billion)
- Data Table on APAC - Market size and forecast 2024-2029 ($ billion)
- Chart on APAC - Year-over-year growth 2024-2029 (%)
- Data Table on APAC - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - APAC
- Data Table on Regional Comparison - APAC
- 12.3.1 India - Market size and forecast 2024-2029
- Chart on India - Market size and forecast 2024-2029 ($ billion)
- Data Table on India - Market size and forecast 2024-2029 ($ billion)
- Chart on India - Year-over-year growth 2024-2029 (%)
- Data Table on India - Year-over-year growth 2024-2029 (%)
- 12.3.2 China - Market size and forecast 2024-2029
- Chart on China - Market size and forecast 2024-2029 ($ billion)
- Data Table on China - Market size and forecast 2024-2029 ($ billion)
- Chart on China - Year-over-year growth 2024-2029 (%)
- Data Table on China - Year-over-year growth 2024-2029 (%)
- 12.3.3 Japan - Market size and forecast 2024-2029
- Chart on Japan - Market size and forecast 2024-2029 ($ billion)
- Data Table on Japan - Market size and forecast 2024-2029 ($ billion)
- Chart on Japan - Year-over-year growth 2024-2029 (%)
- Data Table on Japan - Year-over-year growth 2024-2029 (%)
- 12.3.4 South Korea - Market size and forecast 2024-2029
- Chart on South Korea - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Korea - Market size and forecast 2024-2029 ($ billion)
- Chart on South Korea - Year-over-year growth 2024-2029 (%)
- Data Table on South Korea - Year-over-year growth 2024-2029 (%)
- 12.3.5 Australia - Market size and forecast 2024-2029
- Chart on Australia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Australia - Market size and forecast 2024-2029 ($ billion)
- Chart on Australia - Year-over-year growth 2024-2029 (%)
- Data Table on Australia - Year-over-year growth 2024-2029 (%)
- 12.3.6 Indonesia - Market size and forecast 2024-2029
- Chart on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Indonesia - Market size and forecast 2024-2029 ($ billion)
- Chart on Indonesia - Year-over-year growth 2024-2029 (%)
- Data Table on Indonesia - Year-over-year growth 2024-2029 (%)
- 12.4 North America - Market size and forecast 2024-2029
- Chart on North America - Market size and forecast 2024-2029 ($ billion)
- Data Table on North America - Market size and forecast 2024-2029 ($ billion)
- Chart on North America - Year-over-year growth 2024-2029 (%)
- Data Table on North America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - North America
- Data Table on Regional Comparison - North America
- 12.4.1 US - Market size and forecast 2024-2029
- Chart on US - Market size and forecast 2024-2029 ($ billion)
- Data Table on US - Market size and forecast 2024-2029 ($ billion)
- Chart on US - Year-over-year growth 2024-2029 (%)
- Data Table on US - Year-over-year growth 2024-2029 (%)
- 12.4.2 Canada - Market size and forecast 2024-2029
- Chart on Canada - Market size and forecast 2024-2029 ($ billion)
- Data Table on Canada - Market size and forecast 2024-2029 ($ billion)
- Chart on Canada - Year-over-year growth 2024-2029 (%)
- Data Table on Canada - Year-over-year growth 2024-2029 (%)
- 12.4.3 Mexico - Market size and forecast 2024-2029
- Chart on Mexico - Market size and forecast 2024-2029 ($ billion)
- Data Table on Mexico - Market size and forecast 2024-2029 ($ billion)
- Chart on Mexico - Year-over-year growth 2024-2029 (%)
- Data Table on Mexico - Year-over-year growth 2024-2029 (%)
- 12.5 Europe - Market size and forecast 2024-2029
- Chart on Europe - Market size and forecast 2024-2029 ($ billion)
- Data Table on Europe - Market size and forecast 2024-2029 ($ billion)
- Chart on Europe - Year-over-year growth 2024-2029 (%)
- Data Table on Europe - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Europe
- Data Table on Regional Comparison - Europe
- 12.5.1 Germany - Market size and forecast 2024-2029
- Chart on Germany - Market size and forecast 2024-2029 ($ billion)
- Data Table on Germany - Market size and forecast 2024-2029 ($ billion)
- Chart on Germany - Year-over-year growth 2024-2029 (%)
- Data Table on Germany - Year-over-year growth 2024-2029 (%)
- 12.5.2 Spain - Market size and forecast 2024-2029
- Chart on Spain - Market size and forecast 2024-2029 ($ billion)
- Data Table on Spain - Market size and forecast 2024-2029 ($ billion)
- Chart on Spain - Year-over-year growth 2024-2029 (%)
- Data Table on Spain - Year-over-year growth 2024-2029 (%)
- 12.5.3 France - Market size and forecast 2024-2029
- Chart on France - Market size and forecast 2024-2029 ($ billion)
- Data Table on France - Market size and forecast 2024-2029 ($ billion)
- Chart on France - Year-over-year growth 2024-2029 (%)
- Data Table on France - Year-over-year growth 2024-2029 (%)
- 12.5.4 Italy - Market size and forecast 2024-2029
- Chart on Italy - Market size and forecast 2024-2029 ($ billion)
- Data Table on Italy - Market size and forecast 2024-2029 ($ billion)
- Chart on Italy - Year-over-year growth 2024-2029 (%)
- Data Table on Italy - Year-over-year growth 2024-2029 (%)
- 12.5.5 The Netherlands - Market size and forecast 2024-2029
- Chart on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Data Table on The Netherlands - Market size and forecast 2024-2029 ($ billion)
- Chart on The Netherlands - Year-over-year growth 2024-2029 (%)
- Data Table on The Netherlands - Year-over-year growth 2024-2029 (%)
- 12.5.6 UK - Market size and forecast 2024-2029
- Chart on UK - Market size and forecast 2024-2029 ($ billion)
- Data Table on UK - Market size and forecast 2024-2029 ($ billion)
- Chart on UK - Year-over-year growth 2024-2029 (%)
- Data Table on UK - Year-over-year growth 2024-2029 (%)
- 12.6 South America - Market size and forecast 2024-2029
- Chart on South America - Market size and forecast 2024-2029 ($ billion)
- Data Table on South America - Market size and forecast 2024-2029 ($ billion)
- Chart on South America - Year-over-year growth 2024-2029 (%)
- Data Table on South America - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - South America
- Data Table on Regional Comparison - South America
- 12.6.1 Brazil - Market size and forecast 2024-2029
- Chart on Brazil - Market size and forecast 2024-2029 ($ billion)
- Data Table on Brazil - Market size and forecast 2024-2029 ($ billion)
- Chart on Brazil - Year-over-year growth 2024-2029 (%)
- Data Table on Brazil - Year-over-year growth 2024-2029 (%)
- 12.6.2 Argentina - Market size and forecast 2024-2029
- Chart on Argentina - Market size and forecast 2024-2029 ($ billion)
- Data Table on Argentina - Market size and forecast 2024-2029 ($ billion)
- Chart on Argentina - Year-over-year growth 2024-2029 (%)
- Data Table on Argentina - Year-over-year growth 2024-2029 (%)
- 12.6.3 Chile - Market size and forecast 2024-2029
- Chart on Chile - Market size and forecast 2024-2029 ($ billion)
- Data Table on Chile - Market size and forecast 2024-2029 ($ billion)
- Chart on Chile - Year-over-year growth 2024-2029 (%)
- Data Table on Chile - Year-over-year growth 2024-2029 (%)
- 12.7 Middle East and Africa - Market size and forecast 2024-2029
- Chart on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2024-2029 (%)
- Chart on Regional Comparison - Middle East and Africa
- Data Table on Regional Comparison - Middle East and Africa
- 12.7.1 UAE - Market size and forecast 2024-2029
- Chart on UAE - Market size and forecast 2024-2029 ($ billion)
- Data Table on UAE - Market size and forecast 2024-2029 ($ billion)
- Chart on UAE - Year-over-year growth 2024-2029 (%)
- Data Table on UAE - Year-over-year growth 2024-2029 (%)
- 12.7.2 Saudi Arabia - Market size and forecast 2024-2029
- Chart on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Data Table on Saudi Arabia - Market size and forecast 2024-2029 ($ billion)
- Chart on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- Data Table on Saudi Arabia - Year-over-year growth 2024-2029 (%)
- 12.7.3 Egypt - Market size and forecast 2024-2029
- Chart on Egypt - Market size and forecast 2024-2029 ($ billion)
- Data Table on Egypt - Market size and forecast 2024-2029 ($ billion)
- Chart on Egypt - Year-over-year growth 2024-2029 (%)
- Data Table on Egypt - Year-over-year growth 2024-2029 (%)
- 12.7.4 South Africa - Market size and forecast 2024-2029
- Chart on South Africa - Market size and forecast 2024-2029 ($ billion)
- Data Table on South Africa - Market size and forecast 2024-2029 ($ billion)
- Chart on South Africa - Year-over-year growth 2024-2029 (%)
- Data Table on South Africa - Year-over-year growth 2024-2029 (%)
- 12.7.5 Morocco - Market size and forecast 2024-2029
- Chart on Morocco - Market size and forecast 2024-2029 ($ billion)
- Data Table on Morocco - Market size and forecast 2024-2029 ($ billion)
- Chart on Morocco - Year-over-year growth 2024-2029 (%)
- Data Table on Morocco - Year-over-year growth 2024-2029 (%)
- 12.8 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)
13 Drivers, Challenges, and Opportunity
- 13 Drivers, Challenges, and Opportunity
- 13.1 Market drivers
- Advantages of CPV systems
- Rise in investments in renewable energy
- Government support and incentives
- 13.2 Market challenges
- Declining cost of solar PV modules
- Competition from alternative sources of energy
- Technical challenges leading to less adoption of CPV systems
- 13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
- 13.4 Market opportunities
- Hybrid CPV systems
- Increasing investments in renewable energy in APAC
- Development of solar cities and zero-energy buildings (ZEBs)
14 Competitive Landscape
- 14 Competitive Landscape
- 14.1 Overview
- 14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 14.3 Landscape disruption
- Overview on factors of disruption
- 14.4 Industry risks
- Impact of key risks on business
15 Competitive Analysis
- 15 Competitive Analysis
- 15.1 Companies profiled
- 15.2 Company ranking index
- 15.3 Market positioning of companies
- Matrix on companies position and classification
- 15.4 ARIMA Group
- ARIMA Group - Overview
- ARIMA Group - Product / Service
- ARIMA Group - Key offerings
- SWOT
- 15.5 Arzon Solar LLC
- Arzon Solar LLC - Overview
- Arzon Solar LLC - Product / Service
- Arzon Solar LLC - Key offerings
- SWOT
- 15.6 BSQ Solar
- BSQ Solar - Overview
- BSQ Solar - Product / Service
- BSQ Solar - Key offerings
- SWOT
- 15.7 Chiyoda Corp.
- Chiyoda Corp. - Overview
- Chiyoda Corp. - Business segments
- Chiyoda Corp. - Key offerings
- Chiyoda Corp. - Segment focus
- SWOT
- 15.8 Cool Earth Solar
- Cool Earth Solar - Overview
- Cool Earth Solar - Product / Service
- Cool Earth Solar - Key offerings
- SWOT
- 15.9 Green Rhino Energy Ltd.
- Green Rhino Energy Ltd. - Overview
- Green Rhino Energy Ltd. - Product / Service
- Green Rhino Energy Ltd. - Key offerings
- SWOT
- 15.10 Macsun Solar Energy Tech Co. Ltd.
- Macsun Solar Energy Tech Co. Ltd. - Overview
- Macsun Solar Energy Tech Co. Ltd. - Product / Service
- Macsun Solar Energy Tech Co. Ltd. - Key offerings
- SWOT
- 15.11 Ravano Green Powers
- Ravano Green Powers - Overview
- Ravano Green Powers - Product / Service
- Ravano Green Powers - Key offerings
- SWOT
- 15.12 Saint Augustin Canada Electric Inc.
- Saint Augustin Canada Electric Inc. - Overview
- Saint Augustin Canada Electric Inc. - Product / Service
- Saint Augustin Canada Electric Inc. - Key offerings
- SWOT
- 15.13 Sanan Optoelectronics Co. Ltd.
- Sanan Optoelectronics Co. Ltd. - Overview
- Sanan Optoelectronics Co. Ltd. - Product / Service
- Sanan Optoelectronics Co. Ltd. - Key offerings
- SWOT
- 15.14 Solartron Energy
- Solartron Energy - Overview
- Solartron Energy - Product / Service
- Solartron Energy - Key offerings
- SWOT
- 15.15 Sumitomo Electric Industries Ltd.
- Sumitomo Electric Industries Ltd. - Overview
- Sumitomo Electric Industries Ltd. - Business segments
- Sumitomo Electric Industries Ltd. - Key news
- Sumitomo Electric Industries Ltd. - Key offerings
- Sumitomo Electric Industries Ltd. - Segment focus
- SWOT
- 15.16 Valldoreix Greenpower SLU
- Valldoreix Greenpower SLU - Overview
- Valldoreix Greenpower SLU - Product / Service
- Valldoreix Greenpower SLU - Key offerings
- SWOT
- 15.17 Whitefield Solar
- Whitefield Solar - Overview
- Whitefield Solar - Product / Service
- Whitefield Solar - Key offerings
- SWOT
- 15.18 Zytech Solar
- Zytech Solar - Overview
- Zytech Solar - Product / Service
- Zytech Solar - Key offerings
- SWOT
16 Appendix
- 16 Appendix
- 16.1 Scope of the report
- Market definition
- Objectives
- Notes and caveats
- 16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 16.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 16.4 Research methodology
- 16.5 Data procurement
- 16.6 Data validation
- 16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 16.8 Data synthesis
- 16.9 360 degree market analysis
- 360 degree market analysis
- 16.10 List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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