Concentrated Photovoltaic (CPV) Market Boost The Industry Growth At A CAGR Of 10.1% For The Forecast Period From 2018 To 2025 : Grand View Research Inc.
San Francisco, 20 November 2019: The Report Concentrated Photovoltaic (CPV) Market Analysis By Product (Reflector, Refractor), By Application (Utility, Commercial), By Concentration Level (High, Low), By Region, And Segment Forecasts, 2018 – 2025 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 l