Global Multi-Junction Solar Collector Market
Theoretically, an infinite-junction cell can obtain a maximum power conversion percentage of approximately 87 percent.
Multi-junction solar cells consist of junctions which can be tunedto work with different wavelength bands in the solar spectrum. This increases the efficiency of sunlight absorption by these cells. In these cells, a semiconductor material with high bandgap is used to absorb even the short wavelength radiation along with the ones with a longer wavelength. Researchers are trying to develop a semiconductor material system that can work with a wide range of bandgaps without compromising on crystalline quality.
Multi-junction solar cells are used in Space PV and Terrestrial CPV applications. They find application in bandgap engineering for microclimates, electricity generation and are also used in Mars rover missions.
Photovoltaics industry is currently growing at a rate of more than 40% per year. High-efficiency multi-junction cell will make it grow even faster. Multi-junction solar cells rely on state-of-the-art technology to achieve high efficiency of solar absorption which makes it best fit for space market. It is currently expanding into terrestrial markets with increased production efficiency.
A close to 50 % efficiency of solar absorption is already achieved. High-quality, reliable and affordable Solar Multi-Junction Cell products have already started made inroads in the market. As soon as efficiency crosses 50% there will be a boom in the demand of these cells in the market.
With increasing pressure on state governments across the globe to take energy and climate change problems seriously and with countries across the globe setting goals for climate change, Concentrator photovoltaics like Multi-junction solar cell has the potential to gain a large market share.
The market for a Multi-junction solar cell is segmented into space and terrestrial markets. On the space front, these cells are employed in Mars Rover mission. On the terrestrial front, these multi-junction solar cells could soon be providing electricity on earth. The multi-junction solar cell has the potential to dominate the solar energy market in the future across all segments.
Germany, China, Japan, United States, Italy, France, Spain, Australia, Belgium, South Korea are the biggest solar energy markets and the Multi-junction solar cell would soon be holding a dominant market share in these markets. India being a developing country may need to wait for this technology to become more affordable but interest for this technology is growing in India and future looks bright in India as well.
The market throws up several Opportunities in domains of space technologies, bandgap engineering, electricity generation. Researching a holistic cost model that shows all aspects of cost reductions and projects end to end cost could potentially make this technology very appealing to many buyers who want to make most of the future boom in this technology.
Some of the major players in the market includeCanadian Solar Inc., First Solar Inc, Wuxi Suntech Power Co. Ltd, Juwi Solar Inc, SolarCity Corporation, Trina Solar Limited, Activ Solar GmbH,JinkoSolar Holding Co. Ltd, Yingli Solar Sharp Solar Energy Solutions Group.
> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
> Technology and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key players
> North America
>> US and Canada
> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
> Eastern Europe
>> Rest of Eastern Europe
> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on Market Segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market Dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology Overview
> Extensive Industry Structure Coverage
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