Concentrator Photovoltaic Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Energy and Power | Delivery Format: PDF | Status: Forthcoming | Report ID: ARC429

Introduction

Concentrator photovoltaic (CPV) generates electricity from the light of the sun. Unlike photovoltaic systems, CPV uses bent mirrors and lenses to focus light onto multi-junction (MJ) solar cells that are small, but extremely efficient. In the mid-2000s, the concentrator photovoltaic entered the global market as a utility range solar power generation alternative. While the technology has seen extensive approval and a major number of installations all around the globe in the past few years, it is still at a promising stage of development. When compared to conventional flat-plate photovoltaic, that have been acclaimed for their easy application in rooftops and domestic settings of private and public buildings, the concentrator photovoltaic technology is comparatively a small player on the whole solar power generation market.

Market Dynamics

In recent times, CPV industry has experienced unstable times with the number of new installations considerably declining in 2015 as compared to the earlier period. Several major CPV companies have exited the market due to rising pressures from declining costs of other PV technologies. Also, a number of players are facing significant difficulties in raising the capital required to grow and experiment in the market.

However, CPV modules continue to get better in terms of efficiency, realizing exchange rates far beyond what is possible from customary flat-panel PV modules. Constant research efforts in the field of CPV market have led to the growth of modules that have efficiencies of up to 44%, the maximum of all existing PV technologies. Researchers consider the technology still has scope for improvement in the upcoming years, provided that a way for achieving important decline in overall system costs. Concentrator photovoltaic systems are mostly of concern to power generation projects situated in sun-rich locations that accept direct normal irradiance (DNI) which values of more than 2000 kWh. These PV systems are not appropriate for installation on rooftops, thus restraining their scope of application to a level.

Market Classification and Overview

CPV systems are categorized based on the concentration factor of the system. As of, there are two major categories of CPV systems, namely, high concentration PV (HCPV) and low concentration PV (LCPV). By far, an enormous share in the overall CPV capacity installed all over the globe and is accounted by HCPV with double axis tracking, with large-scale power plants being the principal consumer. A key reason for the rising installations of high concentration PV across numerous power plants is the development in efficiency of individual modules. Also, considerable reduction in the overall cost of power generation project is driving the adoption of HCPV systems. HCPV is also preferred in warm climates, since the production of PV cells used does not decrease as severely as that of crystalline silicon cells at higher temperatures.

Regional Overview

At present, China has the largest CPV power plant in process making Asia-Pacific one of the top most CPV markets. Over the forecasted period, Asia-Pacific will continue to lead the CPV space. The Middle East and Africa regions are also expected to present numerous lucrative development opportunities for concentrator PV. The U.S. and Europe also report for a major share in the world’s currently installed CPV capacity.

Report Coverage

Market

Global Concentrator Photovoltaic Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Concentration Factor, Technology, Application, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

A lot of CPV companies have closed operations, as they ran into bankruptcy, and have been acquired by larger PV companies, or have converted from CPV to standard PV. Numerous companies still continue working on CPV modules and the rate of innovation and technological growth is highly motivating. A few of the key industry players in the global CPV market are Sunpower Corporation, Ravano Green Powers, Zytech Solar, and Soitec.

Market Segmentation

Market By Concentration Factor

·         High concentration PV (HCPV)

·         Low concentration PV (LCPV)

Market By Technology

·         Reflector

·         Refractor

Market By Application

·         Commercial

·         Utility scale

·         Others

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA

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