India Concentrated Photovoltaic Market is set to grow, driven by abundant solar resources and supportive government policies promoting solar energy adoption.
According to a recent report by TechSci Research titled “India Concentrated Photovoltaic Market – By Region, Competition, Forecast and Opportunities, 2021-2031F”, the India Concentrated Photovoltaic (CPV) Market was valued at USD 302 million in 2025 and is projected to reach USD 436 million by 2031, growing at a compound annual growth rate (CAGR) of 6.19% during the forecast period.
Technological Advancements Driving CPV Adoption
The growth of the CPV market in India is significantly influenced by advancements in technology, which have enhanced the efficiency, reliability, and economic feasibility of CPV systems. Innovations in solar cell design, optical components, and system integration have improved the performance of CPV systems, making them a viable and increasingly attractive alternative to traditional photovoltaic technologies.
One of the most impactful innovations in CPV systems is the introduction of multi-junction solar cells. These cells are engineered with multiple semiconductor layers that capture different segments of the solar spectrum, enabling them to achieve conversion efficiencies of over 40% in laboratory settings and more than 30% in commercial applications. Such high efficiency means greater energy output per unit area, translating into lower costs over time and improved energy returns.
Optical components such as Fresnel lenses and precision-engineered mirrors have also seen considerable improvement. These concentrator elements are now better at focusing sunlight onto the high-efficiency solar cells with minimal energy loss. Additionally, these optical systems are being designed to be more compact and lightweight, reducing both structural load and installation costs.
Another important advancement is in the development of dual-axis tracking systems. These systems allow CPV modules to follow the sun’s path across the sky, ensuring that they are always optimally aligned to capture direct sunlight. Modern tracking systems are more robust and require less maintenance, which is especially important for ensuring long-term performance in India’s diverse and often challenging climatic conditions.
Furthermore, thermal management systems have evolved to address the issue of overheating caused by concentrated sunlight. Improved cooling solutions ensure that the solar cells maintain optimal operating temperatures, which is essential for sustaining system performance and extending lifespan.
Collaborations among Indian research institutions, technology startups, and global partners have also played a crucial role in adapting CPV technologies to local conditions. These partnerships have helped drive down costs, reduce reliance on imports, and enhance the overall competitiveness of CPV in the Indian energy market.
Growing Utility Demand Fuels Market Expansion
By end-use segment, utilities dominate the India CPV market. This trend is largely due to the inherent nature of CPV systems, which are best suited for large-scale solar power generation. Utilities are responsible for catering to India’s rapidly increasing electricity demand, driven by urbanization, industrial growth, and a rising population. CPV technology’s high energy yield per unit area makes it an ideal choice for utility companies looking to maximize efficiency and output.
Utility-scale CPV projects benefit from economies of scale, helping to offset the relatively higher initial capital investment. Utilities also have better access to technical expertise, financial resources, and infrastructure, which enables them to effectively manage the installation and maintenance of CPV plants, including the more complex components such as dual-axis trackers and advanced solar cells.
Additionally, government policies in India have been heavily focused on promoting utility-scale solar projects through solar auctions, incentives, and long-term power purchase agreements (PPAs). These regulatory frameworks reduce financial risks and create a favorable environment for utilities to adopt CPV systems. The urgency to meet renewable portfolio standards and lower carbon emissions has further incentivized utilities to invest in high-efficiency technologies like CPV.
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North India Leads in Regional Growth
Regionally, North India is emerging as the fastest-growing area in the India Concentrated Photovoltaic Market. This growth is attributed to several synergistic factors—favorable climatic conditions, strong policy support, and increasing industrial energy demands.
North India receives abundant direct normal irradiance (DNI), a key factor for the success of CPV systems that rely on concentrated direct sunlight. States like Rajasthan, Haryana, and Punjab experience long stretches of clear, sunny weather, particularly outside the monsoon season. These conditions make the region exceptionally well-suited for CPV deployment.
The region is also undergoing rapid industrialization and urban expansion, which is driving a steep rise in electricity consumption. Developers are increasingly turning to CPV to meet this demand efficiently, especially in areas where land is scarce or expensive. CPV’s ability to generate more energy from a smaller land footprint is a significant advantage in such scenarios.
In terms of policy, several state governments in North India have launched initiatives to attract investment in renewable energy. These include subsidies, incentives, and the development of solar parks. The availability of grid infrastructure and streamlined regulatory procedures in many parts of the region further supports the rollout of CPV projects.
Moreover, the presence of a growing base of technical expertise and local manufacturing capabilities for CPV components—including multi-junction cells, lenses, and tracking systems—has strengthened the region’s position as a CPV hub. This local ecosystem minimizes supply chain disruptions, lowers costs, and speeds up project execution.
Outlook
As India strives to meet its renewable energy goals and reduce carbon emissions, the concentrated photovoltaic market is poised for substantial growth. Continuous innovation, government support, and regional advantages—particularly in North India—are aligning to make CPV a strategic part of the country’s energy transition.
For stakeholders, including utilities, developers, and investors, the India CPV market offers promising opportunities in the years ahead, particularly as technology costs decline and performance continues to improve.
Major companies operating in the India Concentrated Photovoltaic Market are:
Tata Power Solar Systems LimitedAdani Solar Energy LimitedReliance Solar Energy Private LimitedVikram Solar LimitedWaaree Energies LtdRenewSys India Pvt. Ltd.Hero Future Energies Pvt. Ltd.Azure Power India Pvt. Ltd.
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“The India Concentrated Photovoltaic (CPV) market presents a significant opportunity driven by the country’s abundant direct solar irradiance, growing energy demand, and supportive government policies promoting renewable energy. CPV technology’s high efficiency and reduced land footprint align well with India’s land constraints and sustainability goals. As the nation targets ambitious solar capacity additions, CPV offers a promising solution for maximizing power output and optimizing resource use.
Additionally, advancements in multi-junction cells and tracking systems further enhance CPV’s viability. The expanding market, coupled with increasing investment and technological innovation, positions India as a key growth hub for CPV deployment.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“India Concentrated Photovoltaic Market, By Product (Reflectors, Refractors), By Concentration (High Concentration Photovoltaic, Low Concentration Photovoltaic), By End Use (Commercial, Utilities, Others), By Region, Competition, Forecast & Opportunities, 2021-2031F”, has evaluated the future growth potential of India Concentrated Photovoltaic Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Concentrated Photovoltaic Market.
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The global Concentrated Photovoltaic (CPV) market was valued at 66.56 Million USD in 2020 and will grow with a CAGR of 7.31% from 2020 to 2027, based on Our Researcher newly published report.The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches.
Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).Concentrated Photovoltaic (CPV) is a photovoltaic technology that generates electricity from sunlight.
Ongoing research and development is rapidly improving their competitiveness in the utility-scale segment and in areas of high insolation.
Because the industry is still in the leading stage of technology, a project need to raise a lot of money, what is more, industry gross margin is smaller.
So, after 2013, there are large enterprises choose to close, exit, transfer business from Concentrated Photovoltaic (CPV).
However, these players still keeps a very positive wait-and-see attitude towards Concentrated Photovoltaic (CPV).
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The report will assist reader with better understanding and decision making.The global Concentrated Photovoltaic (CPV) market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 7.2% in the forecast period of 2020 to 2025 and will expected to reach USD 1003.7 million by 2025, from USD 760.7 million in 2019.The Concentrated Photovoltaic (CPV) market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/18542-concentrated-photovoltaic-cpv-market-analysis-reportThe major players covered in Concentrated Photovoltaic (CPV) are:Arzon Solar (Amonix) Suncore Photovoltaic Semprius Inc. Isofoton S.A. Silex Magpower Zytech Solar Solar Junction Soitec Sunpower Corporation SolFocusBy Type, Concentrated Photovoltaic (CPV) market has been segmented into:LCPVHCPVBy Application, Concentrated Photovoltaic (CPV) has been segmented into:CommercialUtility-ScaleOthersThe report offers in-depth assessment of the growth and other aspects of the Concentrated Photovoltaic (CPV) market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, etc.
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