Lewes, DE -- (ReleaseWire) -- 03/27/2014 -- The global Concentrated Photovoltaic (CPV) market is expected to undergo a major growth spurt in the next five years, with its cumulative installed capacity forecast to jump from 357.9 Megawatts (MW) in 2014 to 1,043.96 MW by 2020, says a new report.
According to the new report, China and the US dominated the global CPV market in 2013, with their cumulative installed capacity reaching shares of 35.4% and 33.3%, respectively. Spain stood third after the US with 12.2%, followed by Portugal and Italy, with respected shares of 5.1% and 4.3%.
Lead analyst covering this report, says: “The CPV market is at a nascent stage, especially with the technology evolving and achieving new heights of efficiency improvement. Companies that have been successful in operating CPV prototype systems in pilot sites are now progressing towards multi-MW CPV projects.”
Two CPV power plants came online in 2012 and 2013. These were Amonix’s 30-MW Alamosa in Colorado, US, and Suncore’s 50-MW CPV power plant in Golmud, China, which is the largest CPV plant in the world.
However, despite these developments, market growth forecast is conservative, according to GlobalData. From 2009, many companies in the CPV industry, both small and large, either had to close down their businesses due to bankruptcy, or were acquired by other companies.
“A further concern in the CPV industry is the reliability and performance of the systems, although significant efforts have been made to develop International Electrotechnical Commission standards for CPV-system certification,” analyst concludes.
This report provides analysis of the global Concentrated Photovoltaic (CPV) market, including installations, market value, and investment analysis between 2006 and 2020. It also examines the shares of leading players in the global CPV market in 2013, and the supporting measures for solar power in each country.
Read more about this report: http://www.marketresearchreports.com/globaldata/concentrated-photovoltaics-cpv-update-2014-global-market-size-competitive-landscape-and
Browse more reports in Photovoltaic section at: http://www.marketresearchreports.com/photovoltaics
About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
For regular industry updates subscribe to our newsletter at: http://www.marketresearchreports.com/subscribe-to-newsletter
Join us on LinkedIn : http://www.linkedin.com/company/market-research-reports-inc-