SAN FRANCISCO, January 11, 2018
SAN FRANCISCO, January 11, 2018 /PRNewswire/ --
The global concentrated photovoltaic (CPV) market is expected to reach USD 6.35 billion by 2025 at a 10.1% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Demand for concentrated photovoltaic is anticipated to register rapid growth owing to its ability to harness solar energy in areas with no space constraints.
CPV technology is yet to gain worldwide acceptance and manufacturers are constantly engaged in developing new modules with improved efficiency. Growing popularity of PV has overshadowed the efficiency and advantages of CPV. However, the technology shows great promise owing to its scalability and efficiency.
Globally, Asia Pacific is the largest market for CPV. Presence of a large number of module manufacturers, coupled with favorable government initiatives, is driving the demand for this technology. The advantage of low labor cost and introduction of smaller rooftop systems are also expected to boost market growth.
Browse full research report with TOC on "Concentrated Photovoltaic (CPV) Market Analysis By Product (Reflector, Refractor), By Application (Utility, Commercial), By Concentration Level (High, Low), By Region, And Segment Forecasts, 2014 - 2025" at: https://www.grandviewresearch.com/industry-analysis/concentrated-photovoltaic-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the concentrated photovoltaic market on the basis of product, application, level of concentration, and region.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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