The Asia Pacific Thermophotovoltaics Market would witness market growth of 12.6% CAGR during the forecast period (2023-2030).
The adaptability of transforming different heat energy sources, such as nuclear, chemical combustion, waste, and solar heat, into the high density of electrical power expands the use of TPV, from large-scale TPV generators to micro-scale TPVs. Superior energy conversion technologies are increasingly in demand as worries about climate change and the search for clean energy grow. In applications like industrial operations, power plants, and home heating systems, where waste heat is prevalent, TPV has a lot of promise.
The capacity of TPV to capture heat and transform it into power offers an alluring possibility to increase overall energy efficiency and lower carbon emissions. The market has grown as a result of the rising importance placed on energy security as well as the demand for distributed power generation. Utilizing TPV systems allows for converting waste heat from different sources into useful electricity, reducing dependency on conventional power grids and boosting energy independence. By reducing costs, the prospect of distributed power generation encourages businesses to look for dependable, self-sufficient energy sources.
In 2018, the Japanese organizing committee for the Olympic Games in Tokyo said it would only use renewable energy. Also on the agenda was the purchase of renewable energy from electric providers. The organization also intended to build a number of thin-film polycrystalline silicon solar roads in order to supply some of the electricity needed for the 2020 Games. As a result, there may be a rise in demand for thin-film solar PV. Thus, the market is expected to expand significantly over the course of the anticipated time, with factors such as the upcoming utility-scale project, favorable legislation, and subsidies.
The China market dominated the Asia Pacific Thermophotovoltaics Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $28,290.4 Thousands by 2030. The Japan market is registering a CAGR of 11.9% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 13.3% during (2023 - 2030).
Based on Type, the market is segmented into Crystalline Photovoltaic Cells, Thin Film Photovoltaic Cells, Silicon Photovoltaic Cells, and Others. Based on Application, the market is segmented into Solar, Nuclear, Thermal Power Plant, Military, Off-Grid Generator, Portable Electronics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Thermophotovoltaics Market is Projected to reach USD 247.7 Million by 2030, at a CAGR of 12.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tesla, Inc., Schott AG (Carl-Zeiss-Stiftung), Abengoa, BrightSource Energy, Inc., Spectrolab, Inc. (The Boeing Company), Acciona SA, ACWA Power (Vision Invest), Azur Space Solar Power GmbH (5N Plus, Inc.), Microlink Devices, Inc. and Alta Devices (Hanergy Hi-Tech Power Limited)
Scope of the Study
Market Segments Covered in the Report:
By Type
- Crystalline Photovoltaic Cells
- Thin Film Photovoltaic Cells
- Silicon Photovoltaic Cells
- Others
By Application
- Solar
- Nuclear
- Thermal Power Plant
- Military
- Off-Grid Generator
- Portable Electronics
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Tesla, Inc.
- Schott AG (Carl-Zeiss-Stiftung)
- Abengoa
- BrightSource Energy, Inc.
- Spectrolab, Inc. (The Boeing Company)
- Acciona SA
- ACWA Power (Vision Invest)
- Azur Space Solar Power GmbH (5N Plus, Inc.)
- Microlink Devices, Inc.
- Alta Devices (Hanergy Hi-Tech Power Limited)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Thermophotovoltaics Market, by Type
1.4.2 Asia Pacific Thermophotovoltaics Market, by Application
1.4.3 Asia Pacific Thermophotovoltaics Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. Asia Pacific Thermophotovoltaics Market by Type
4.1 Asia Pacific Crystalline Photovoltaic Cells Market by Country
4.2 Asia Pacific Thin Film Photovoltaic Cells Market by Country
4.3 Asia Pacific Silicon Photovoltaic Cells Market by Country
4.4 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Thermophotovoltaics Market by Application
5.1 Asia Pacific Solar Market by Country
5.2 Asia Pacific Nuclear Market by Country
5.3 Asia Pacific Thermal Power Plant Market by Country
5.4 Asia Pacific Military Market by Country
5.5 Asia Pacific Off-Grid Generator Market by Country
5.6 Asia Pacific Portable Electronics Market by Country
5.7 Asia Pacific Others Market by Country
Chapter 6. Asia Pacific Thermophotovoltaics Market by Country
6.1 China Thermophotovoltaics Market
6.1.1 China Thermophotovoltaics Market by Type
6.1.2 China Thermophotovoltaics Market by Application
6.2 Japan Thermophotovoltaics Market
6.2.1 Japan Thermophotovoltaics Market by Type
6.2.2 Japan Thermophotovoltaics Market by Application
6.3 India Thermophotovoltaics Market
6.3.1 India Thermophotovoltaics Market by Type
6.3.2 India Thermophotovoltaics Market by Application
6.4 South Korea Thermophotovoltaics Market
6.4.1 South Korea Thermophotovoltaics Market by Type
6.4.2 South Korea Thermophotovoltaics Market by Application
6.5 Singapore Thermophotovoltaics Market
6.5.1 Singapore Thermophotovoltaics Market by Type
6.5.2 Singapore Thermophotovoltaics Market by Application
6.6 Malaysia Thermophotovoltaics Market
6.6.1 Malaysia Thermophotovoltaics Market by Type
6.6.2 Malaysia Thermophotovoltaics Market by Application
6.7 Rest of Asia Pacific Thermophotovoltaics Market
6.7.1 Rest of Asia Pacific Thermophotovoltaics Market by Type
6.7.2 Rest of Asia Pacific Thermophotovoltaics Market by Application
Chapter 7. Company Profiles
7.1 Tesla, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 SWOT Analysis
7.2 Schott AG (Carl-Zeiss-Stiftung)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 SWOT Analysis
7.3 Abengoa
7.3.1 Company Overview
7.3.2 SWOT Analysis
7.4 BrightSource Energy, Inc.
7.4.1 Company Overview
7.4.2 SWOT Analysis
7.5 Spectrolab, Inc. (The Boeing Company)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 SWOT Analysis
7.6 Acciona, S.A.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 SWOT Analysis
7.7 ACWA Power (Vision Invest)
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 SWOT Analysis
7.8 Azur Space Solar Power GmbH (5N Plus, Inc.)
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 SWOT Analysis
7.9 Microlink Devices, Inc.
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. Alta Devices (Hanergy Hi-Tech Power Limited)
7.10.1 Company Overview
7.10.2 SWOT Analysis
TABLE 1 Asia Pacific Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 2 Asia Pacific Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 3 Asia Pacific Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 4 Asia Pacific Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 5 Asia Pacific Crystalline Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 6 Asia Pacific Crystalline Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 7 Asia Pacific Thin Film Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 8 Asia Pacific Thin Film Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 9 Asia Pacific Silicon Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 10 Asia Pacific Silicon Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 11 Asia Pacific Others Market by Country, 2019 - 2022, USD Thousands
TABLE 12 Asia Pacific Others Market by Country, 2023 - 2030, USD Thousands
TABLE 13 Asia Pacific Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 14 Asia Pacific Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 15 Asia Pacific Solar Market by Country, 2019 - 2022, USD Thousands
TABLE 16 Asia Pacific Solar Market by Country, 2023 - 2030, USD Thousands
TABLE 17 Asia Pacific Nuclear Market by Country, 2019 - 2022, USD Thousands
TABLE 18 Asia Pacific Nuclear Market by Country, 2023 - 2030, USD Thousands
TABLE 19 Asia Pacific Thermal Power Plant Market by Country, 2019 - 2022, USD Thousands
TABLE 20 Asia Pacific Thermal Power Plant Market by Country, 2023 - 2030, USD Thousands
TABLE 21 Asia Pacific Military Market by Country, 2019 - 2022, USD Thousands
TABLE 22 Asia Pacific Military Market by Country, 2023 - 2030, USD Thousands
TABLE 23 Asia Pacific Off-Grid Generator Market by Country, 2019 - 2022, USD Thousands
TABLE 24 Asia Pacific Off-Grid Generator Market by Country, 2023 - 2030, USD Thousands
TABLE 25 Asia Pacific Portable Electronics Market by Country, 2019 - 2022, USD Thousands
TABLE 26 Asia Pacific Portable Electronics Market by Country, 2023 - 2030, USD Thousands
TABLE 27 Asia Pacific Others Market by Country, 2019 - 2022, USD Thousands
TABLE 28 Asia Pacific Others Market by Country, 2023 - 2030, USD Thousands
TABLE 29 Asia Pacific Thermophotovoltaics Market by Country, 2019 - 2022, USD Thousands
TABLE 30 Asia Pacific Thermophotovoltaics Market by Country, 2023 - 2030, USD Thousands
TABLE 31 China Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 32 China Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 33 China Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 34 China Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 35 China Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 36 China Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 37 Japan Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 38 Japan Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 39 Japan Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 40 Japan Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 41 Japan Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 42 Japan Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 43 India Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 44 India Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 45 India Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 46 India Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 47 India Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 48 India Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 49 South Korea Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 50 South Korea Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 51 South Korea Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 52 South Korea Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 53 South Korea Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 54 South Korea Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 55 Singapore Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 56 Singapore Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 57 Singapore Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 58 Singapore Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 59 Singapore Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 60 Singapore Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 61 Malaysia Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 62 Malaysia Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 63 Malaysia Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 64 Malaysia Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 65 Malaysia Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 66 Malaysia Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 67 Rest of Asia Pacific Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 68 Rest of Asia Pacific Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 69 Rest of Asia Pacific Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 70 Rest of Asia Pacific Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 71 Rest of Asia Pacific Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 72 Rest of Asia Pacific Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 73 key Information – Tesla, Inc.
TABLE 74 key Information – Schott AG
TABLE 75 Key Information – Abengoa
TABLE 76 Key Information – BrightSource Energy, Inc.
TABLE 77 Key Information – Spectrolab, Inc.
TABLE 78 Key Information – Acciona, S.A.
TABLE 79 Key Information – ACWA Power
TABLE 80 Key Information –Azur Space Solar Power GmbH
TABLE 81 Key Information – Microlink Devices, Inc.
TABLE 82 Key Information – Alta Devices
List of Figures
FIG 1 Methodology for the research
FIG 2 Asia Pacific Thermophotovoltaics Market, 2019 - 2030, USD Thousands
FIG 3 Key Factors Impacting the Thermophotovoltaics Market
FIG 4 Porter’s Five Forces Analysis - Thermophotovoltaics Market
FIG 5 Asia Pacific Thermophotovoltaics Market share by Type, 2022
FIG 6 Asia Pacific Thermophotovoltaics Market share by Type, 2030
FIG 7 Asia Pacific Thermophotovoltaics Market by Type, 2019 - 2030, USD Thousands
FIG 8 Asia Pacific Thermophotovoltaics Market share by Application, 2022
FIG 9 Asia Pacific Thermophotovoltaics Market share by Application, 2030
FIG 10 Asia Pacific Thermophotovoltaics Market by Application, 2019 - 2030, USD Thousands
FIG 11 Asia Pacific Thermophotovoltaics Market share by Country, 2022
FIG 12 Asia Pacific Thermophotovoltaics Market share by Country, 2030
FIG 13 Asia Pacific Thermophotovoltaics Market by Country, 2019 - 2030, USD Thousands
FIG 14 SWOT Analysis: Tesla, Inc
FIG 15 SWOT ANALYSIS: Schott AG
FIG 16 SWOT ANALYSIS: Abengoa
FIG 17 SWOT ANALYSIS: BrightSource Energy, Inc.
FIG 18 SWOT ANALYSIS: Spectrolab, Inc.
FIG 19 SWOT ANALYSIS: Acciona SA
FIG 20 SWOT ANALYSIS: ACWA Power
FIG 21 SWOT ANALYSIS: Azur Space Solar Power GmbH
FIG 22 SWOT ANALYSIS: Microlink Devices, Inc.
FIG 23 SWOT ANALYSIS: Alta Devices