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Technological Advancements and Awareness of Concentrated Photovoltaic (CPV) Market
The Concentrated Photovoltaic (CPV) market is driven by new technological advancements and awareness about renewable energy resources. The CPV market is likely to witness a CAGR of about 29.3% from 2014 to 2019. Asia-Pacific represents the largest market share in terms of value, followed by North America. Asia-Pacific will maintain its statuesque until 2019, growing at a CAGR of 11.3% from 2014 to 2019. The Middle East and Africa is the emerging market due to its favorable environment for CPV installation.
In terms of concentrated photvoltaic market, the Asia-Pacific region is far ahead when compared to other regions across the globe. Most of the countries in this region continue to primarily focus on achieving high economic growth and pay more attention towards renewable energy resources.
The global concentrated photvoltaic market is highly fragmented with the presence of major players such as Soitec (Europe), Amonix (U.S.), Suncore (U.S.), Isofoton (Europe), among others. The leading companies of the concentrated photvoltaic market focus on the growth of their mergers & acquisitions and contrats & agreements with the key objective to serve highly efficient capacity output with a wide geographical presence.
Between 2010 and 2013, contracts & agreements led the growth strategies. The leading companies have been able to acquire regional concentrated photovoltaic service providers in order to expand their range of operations. They are constantly focusing on the emerging regions to establish themselves as leading concentrated photovoltaic service Provider Companies.
Concentrated Photovoltaic Market By Concentration levels (High and Low), By Technology (Refractor and Reflectors), By Application (Utility-Scale, Commercial, and Others) & By Geography- Global Trends and Forecast to 2019
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