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Global High Concentrated Photovoltaic Market: By Product: Reflector, Refractor; By Application: Utility, Non-Utility; By Conversion Rate: Below 30%, 30% to 40%, Above 40%; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global High Concentrated Photovoltaic Market Outlook

The global market for high concentrated photovoltaic is expected to grow at a CAGR of about 28.00% in the forecast period of 2023-2028 owing to the increasing investment in renewable energy.

 

Asia Pacific and Middle East and Africa to be the Significant Regional Markets for High Concentrated Photovoltaic

The Asia Pacific region is anticipated to lead the high concentrated photovoltaic market in the next five years due to a growing shift towards renewable energy sources and government initiatives in constituent countries like China and Japan, with China primarily driving the demand in the region. The 13th Five Year Plan adopted by the government of China aims to reduce carbon footprint, driving the concentrated photovoltaic installations in the country. Also, the direct normal irradiance over China is high, which is likely to boost the market. The rising disposable income among individuals, increasing population, and the strong presence of emerging economies such as China and India, within this region, are further driving the market growth in the Asia Pacific.

The Middle East and Africa is expected to be the second-fastest-growing region, with demand majorly driven by rising installations in South Africa. Areas covered in sand dunes receive maximum sunlight in terms of surface area, and this significantly propels the installation of concentrated photovoltaics. Upcoming solar projects in Morocco and Jordan are expected to further promote the demand for high concentrated photovoltaics over the forecast period.

The high concentrated photovoltaic market in North America is expected to register a significant CAGR over the forecast period. Favourable state and federal policies in the United States and Canada are primarily driving the demand for this technology. Legislative mandates and financial incentives are expected to drive high concentrated photovoltaic installations over the forecast period.

 

Market Segmentations

Concentrated photovoltaic is a type of photovoltaic technology that uses sunlight to generate electricity. With the help of optical equipment, a huge area of sunlight is concentrated on a solar cell in this method. Optical devices, such as lenses and curved mirrors, are used to centre sunlight on the multi-junction solar cell.

By product, the market includes:

  • Reflector
  • Refractor

The major applications of the market are:

  • Utility
  • Non-Utility

Based on conversion rate, the market is divided into:

  • Below 30%
  • 30% to 40%
  • Above 40%

The regional markets for the high concentrated photovoltaic market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

Rising Awareness on Using Renewable Energy Augmenting the Market Growth

The rising awareness regarding the use of renewable resources for power generation associated with the growing demand for grid-connected electricity has highly influenced the growth of the high concentrated photovoltaic market. The declining prices of silicone and development in the designs of the modules are also acting as key determinants favouring the market growth of the high concentrated photovoltaic over the forecast period of 2022 to 2027. The rising population, thriving industries in emerging economies, rising disposable income, and an increase in infrastructure development activities also positively impacts the growth of the global high concentrated photovoltaic market. Besides this, the higher efficiency with low system cost and renewable energy resources are also flourishing the growth of the concentrated photovoltaic market. The increasing number of power purchase agreements among private companies and electricity boards is likely to propel the demand for concentrated photovoltaic for utility applications, which will further offer a variety of growth opportunities for the high concentrated photovoltaic market in the forecast period.

Additionally, a global increase in demand for sustainable energy resources has been observed, accompanied by favourable government policies. These policies aim to reduce the reliance on fossil fuels while also helping to reduce pollution. This, in turn, is favouring the demand for renewable energy sources like solar energy and is the key driver that fuels the demand for high concentrated photovoltaics.

 

Key Players in the Global Market for High Concentrated Photovoltaic

The report gives a detailed analysis of the following key players in the global high concentrated photovoltaic market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Ravano Green Power
  • SunPower Corporation
  • Zytech Group
  • SunCore Energy Group
  • Morgan Solar Inc.
  • Suntrix Company Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Application
  • Conversion Rate
  • Region
Breakup by Product
  • Reflector
  • Refractor
Breakup by Application
  • Utility
  • Non-Utility
Breakup by Conversion Rate
  • Below 30%
  • 30% to 40%
  • Above 40%
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ravano Green Power
  • SunPower Corporation
  • Zytech Group
  • SunCore Energy Group
  • Morgan Solar Inc.
  • Suntrix Company Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global High Concentrated Photovoltaic Market Analysis

    8.1    Key Industry Highlights
    8.2    Global High Concentrated Photovoltaic Historical Market (2018-2022) 
    8.3    Global High Concentrated Photovoltaic Market Forecast (2023-2028)
    8.4    Global High Concentrated Photovoltaic Market by Product
        8.4.1    Reflector
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Refractor 
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global High Concentrated Photovoltaic Market by Application
        8.5.1    Utility
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Non-Utility
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global High Concentrated Photovoltaic Market by Conversion Rate
        8.6.1    Below 30%
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    30% to 40%
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Above 40% 
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)    
    8.7    Global High Concentrated Photovoltaic Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028)
9    North America  High Concentrated Photovoltaic Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe High Concentrated Photovoltaic Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific High Concentrated Photovoltaic Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America  High Concentrated Photovoltaic Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East  and Africa High Concentrated Photovoltaic Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Ravano Green Power
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    SunPower Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Zytech Group
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    SunCore Energy Group
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Morgan Solar Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Morgan Solar Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Others
16    Key Trends and Developments in the Market

 

List of Figures and Tables

1.    Global High Concentrated Photovoltaic Market: Key Industry Highlights, 2018 and 2028
2.    Global High Concentrated Photovoltaic Historical Market: Breakup by Product (USD Billion), 2018-2022
3.    Global High Concentrated Photovoltaic Market Forecast: Breakup by Product (USD Billion), 2023-2028
4.    Global High Concentrated Photovoltaic Historical Market: Breakup by Application (USD Billion), 2018-2022
5.    Global High Concentrated Photovoltaic Market Forecast: Breakup by Application (USD Billion), 2023-2028
6.    Global High Concentrated Photovoltaic Historical Market: Breakup by Conversion Rate (USD Billion), 2018-2022
7.    Global High Concentrated Photovoltaic Market Forecast: Breakup by Conversion Rate (USD Billion), 2023-2028
8.    Global High Concentrated Photovoltaic Historical Market: Breakup by Region (USD Billion), 2018-2022
9.    Global High Concentrated Photovoltaic Market Forecast: Breakup by Region (USD Billion), 2023-2028
10.    North America High Concentrated Photovoltaic Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    North America High Concentrated Photovoltaic Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Europe High Concentrated Photovoltaic Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Europe High Concentrated Photovoltaic Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Asia Pacific High Concentrated Photovoltaic Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Asia Pacific High Concentrated Photovoltaic Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Latin America High Concentrated Photovoltaic Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Latin America High Concentrated Photovoltaic Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Middle East and Africa High Concentrated Photovoltaic Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Middle East and Africa High Concentrated Photovoltaic Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Global High Concentrated Photovoltaic Market Structure

Key Questions Answered in the Report

The global high concentrated photovoltaic market is projected to grow at a CAGR of 28.00% between 2023 and 2028.

The major drivers of the market include the declining prices of silicone, rising population, thriving industries in emerging economies, rising disposable income, increase in infrastructure development activities, increasing number of power purchase agreements among private companies and electricity boards, global increase in demand for sustainable energy resources, and favourable government policies.

The rising awareness regarding the use of renewable resources and growing demand for grid-connected electricity are the key industry trends propelling the growth of the market.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various products are reflector and refractor.

The major applications of the market are utility and non-utility.

Based on conversion rate, the market is divided into below 30%, 30% to 40%, and above 40%.

The major players in the industry are Ravano Green Power, SunPower Corporation, Zytech Group, SunCore Energy Group, Morgan Solar Inc., and Suntrix Company Limited, among others.

Analyst Review

The global high concentrated photovoltaic market was driven by the rising awareness regarding the use of renewable resources in the historical period. Aided by the global increase in demand for sustainable energy resources and favourable government policies, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 28.00%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The products included in the market are reflector and refractor. The major applications of the market are utility and non-utility. Based on conversion rate, the market is divided into below 30%, 30% to 40%, and above 40%. The major regional markets for high concentrated photovoltaic are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are Ravano Green Power, SunPower Corporation, Zytech Group, SunCore Energy Group, Morgan Solar Inc., and Suntrix Company Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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