High Concentration Photovoltaics Market Intelligence and Analysis for Period (2016-2026)
Global High-Concentration Photovoltaics Market: Drivers and Restraints
The drivers of the high-concentration photovoltaics market are minimum land space requirement, consistent improvements in its technology, awareness of renewable energy resources, and government assistance program with essential financing schemes. Also reduction in “Levelized Cost of Electricity” (LCOE) and improved efficiency with low system cost is another significant factor contributing in the surging global high-concentration photovoltaics market.
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However, some of the restraints hindering the growth of the global high-concentration photovoltaics market are expensive solar trackers required to get sunlight focused on the small photovoltaic area, non-utilization of diffuse radiation, perception and bankability issues, lack of technology standardization, lack of adoption of technology and limited places with high direct normal irradiation.
Global High-Concentration Photovoltaics Market: Segmentation
Global high-concentration photovoltaics market can be segmented as follows:
Global High-Concentration Photovoltaics Market, by Type of Power Generation
Electric power and thermal power
Global High-Concentration Photovoltaics Market, by Applications
Industrial, Residential and Commercial rooftop
Telecom or Mobile towers
Water pumping solutions
Government or Military (mobile off grid)
Hospitals, Hotels and Restaurants
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Global High-Concentration Photovoltaics Market: Regional Outlook
Geographically, high-concentration photovoltaics market can be divided into seven regions, namely NorthAmerica, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). North America is the prominent contributor in high-concentration photovoltaics market because of the technological advancements in United States for solar power energy utilization. Latin America is the next vital region in the high-concentration photovoltaics market due to some large projects are planned in the Mexico. Asia Pacific is following North America and Latin America for the high-concentration photovoltaics market on account of growing HCPV production in China, Taiwan and Japan. Europe is also witnessing a growing market of high-concentration photovoltaics market because of increase in HCPV installations and Energy Payback Time. The Middle East and Africa (MEA) are at a nascent stage in the high-concentration photovoltaics market, however they are expected to expand at a significant CAGR in the forecast period.
Global High-Concentration Photovoltaics Market: Key players
Some of the key players working in high-concentration photovoltaics market are: Abengoa Solar, S.A., Cool Earth Solar, ES-SYSTEM, Green & Gold Solar Pty Ltd., Fullsun Photovoltaics, Arzon Solar, LLC, and BSQ Solar, SL.
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