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Increasing need for higher power generation at lower cost will drive the concentrated photovoltaic systems market. http://www.micromarketmonitor.com/market-report/concentrated-photovoltaic-cpv-reports-9388821787.html
(PRWEB) July 06, 2014
Concentrated photovoltaic (CPV) is system that increase the power generation efficiency of photovoltaic module by concentrating the indent solar influx up to 2000 times with the help of lenses or mirrors. The global CPV market is primarily categorized into high concentrated photovoltaic (HCPV), medium concentration photovoltaic (MCPV), and low concentration photovoltaic (LCPV). The concentrated photovoltaic is at an emerging stage as it provides cost-effective power generation with increased efficiency. The technological improvements to achieve more efficiency makes concentrated photovoltaic competitive in regions with high direct normal irradiance (DNI). Middle East and Africa is the fastest-growing concentrated photovoltaic market globally.
Browse through the market data tables, figures and detailed ToC on the Global Concentrated Photovoltaic (CPV) Market.
Americas Concentrated Photovoltaic (CPV) Market
Americas has majorly focused on high concentrated photovoltaic technologies than that of low concentration. As most HCPV suppliers are based in the U.S., their forays into the domestic U.S. market will provide notice to rival conventional PV suppliers. Enormous growth will occur in South America. The Americas had a second largest share of around 30% in the global concentrated photovoltaic market in 2013. The Americas is expected to grow at a rate of 16% and reach $511.2 million by 2019, from an estimated $246.9 million in 2014.
Europe Concentrated Photovoltaic (CPV) Market
Europe had a share of around 26% in the global concentrated photovoltaic market in 2013. Europe is expected to grow at a rate of 2% and reach $129.0 million by 2019, from an estimated $116.8 million in 2014. In Spain, three separate phases of a CPV solar power installation were commissioned in Navarra between 2006 and 2008. However after that, the CPV market in Europe reached a maturity level. HCPV technology held the largest share in this region.
Middle East and Africa Concentrated Photovoltaic (CPV) Market
The Middle East and Africa had a trivial share of around 2% in the global concentrated photovoltaic market in 2013. But this region is expected to grow at a highest rate of 26% and reach $332.5 million by 2019, from an estimated $106.0 million in 2014. Middle East & Africa has focus towards HCPV as well as LCPV. Egypt is also showing interest in investing in power generation using solar energy in the coming years.
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