The Latin America, Middle East and Africa Thermophotovoltaics Market would witness market growth of 15.2% CAGR during the forecast period (2023-2030).
Applications of space technology will require high-efficiency TPV cells. Nuclear and solar generators are the two possible power sources for tiny spacecraft that can sustain long-term operation. The primary competing technologies for space power generation were recently compared in a critical assessment. The TPV system guarantees an efficiency of up to 40% and has the additional benefits of being lightweight, mechanically static, and producing energy directly from radiant heat in space power generation. A medium electrical system can benefit from the TPV system's high-power density per unit area compared to other technologies. With the increasing expenditure on space R&D, the demand for thermophotovoltaics can be expected to rise.
The market for thermophotovoltaics (TPV), specifically radioisotope thermophotovoltaic (RTPV) systems, has potential uses for nuclear energy. To turn the heat produced by radioactive isotopes into electricity, RTPV combines the concepts of nuclear decay heat and TPV technology. RTPV systems, in particular, offer several benefits for nuclear usage in the market prediction. RTPV systems are perfect for applications needing sustained energy generation in distant or space missions because they produce electricity with radioactive isotopes with lengthy half-lives. These devices use the radioactive isotopes' high energy density to create tiny, lightweight TPV converters that are ideal for locations with limited space.
Brazil increased its growth rate from 2021 to 2022 by installing nearly 11 GW of solar photovoltaic capacity. Deployment is expected to remain at this level in the upcoming years due to the persistent demand for renewable energy from businesses and power suppliers. In Brazil, utility-scale solar energy increased by 40.9% in 2021, compared to an 84% increase in distributed solar power. Utility-scale solar energy projects that have been approved already have more than $20 billion committed to them. With this deployment, it was promised that by 2030, the installed renewable power generation capacity in this region will increase to 80 GW. Therefore, these components will aid in the rapid expansion of the region's market.
The Brazil market dominated the LAMEA Thermophotovoltaics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5,712.2 Thousands by 2030. The Argentina market is showcasing a CAGR of 15.7% during (2023 - 2030). Additionally, The UAE market would witness a CAGR of 14.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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 LAMEA Thermophotovoltaics Market, by Type
1.4.2 LAMEA Thermophotovoltaics Market, by Application
1.4.3 LAMEA 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. LAMEA Thermophotovoltaics Market by Type
4.1 LAMEA Crystalline Photovoltaic Cells Market by Country
4.2 LAMEA Thin Film Photovoltaic Cells Market by Country
4.3 LAMEA Silicon Photovoltaic Cells Market by Country
4.4 LAMEA Others Market by Country
Chapter 5. LAMEA Thermophotovoltaics Market by Application
5.1 LAMEA Solar Market by Country
5.2 LAMEA Nuclear Market by Country
5.3 LAMEA Thermal Power Plant Market by Country
5.4 LAMEA Military Market by Country
5.5 LAMEA Off-Grid Generator Market by Country
5.6 LAMEA Portable Electronics Market by Country
5.7 LAMEA Others Market by Country
Chapter 6. LAMEA Thermophotovoltaics Market by Country
6.1 Brazil Thermophotovoltaics Market
6.1.1 Brazil Thermophotovoltaics Market by Type
6.1.2 Brazil Thermophotovoltaics Market by Application
6.2 Argentina Thermophotovoltaics Market
6.2.1 Argentina Thermophotovoltaics Market by Type
6.2.2 Argentina Thermophotovoltaics Market by Application
6.3 UAE Thermophotovoltaics Market
6.3.1 UAE Thermophotovoltaics Market by Type
6.3.2 UAE Thermophotovoltaics Market by Application
6.4 Saudi Arabia Thermophotovoltaics Market
6.4.1 Saudi Arabia Thermophotovoltaics Market by Type
6.4.2 Saudi Arabia Thermophotovoltaics Market by Application
6.5 South Africa Thermophotovoltaics Market
6.5.1 South Africa Thermophotovoltaics Market by Type
6.5.2 South Africa Thermophotovoltaics Market by Application
6.6 Nigeria Thermophotovoltaics Market
6.6.1 Nigeria Thermophotovoltaics Market by Type
6.6.2 Nigeria Thermophotovoltaics Market by Application
6.7 Rest of LAMEA Thermophotovoltaics Market
6.7.1 Rest of LAMEA Thermophotovoltaics Market by Type
6.7.2 Rest of LAMEA 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 LAMEA Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 2 LAMEA Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 3 LAMEA Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 4 LAMEA Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 5 LAMEA Crystalline Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 6 LAMEA Crystalline Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 7 LAMEA Thin Film Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 8 LAMEA Thin Film Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 9 LAMEA Silicon Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 10 LAMEA Silicon Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 11 LAMEA Others Market by Country, 2019 - 2022, USD Thousands
TABLE 12 LAMEA Others Market by Country, 2023 - 2030, USD Thousands
TABLE 13 LAMEA Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 14 LAMEA Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 15 LAMEA Solar Market by Country, 2019 - 2022, USD Thousands
TABLE 16 LAMEA Solar Market by Country, 2023 - 2030, USD Thousands
TABLE 17 LAMEA Nuclear Market by Country, 2019 - 2022, USD Thousands
TABLE 18 LAMEA Nuclear Market by Country, 2023 - 2030, USD Thousands
TABLE 19 LAMEA Thermal Power Plant Market by Country, 2019 - 2022, USD Thousands
TABLE 20 LAMEA Thermal Power Plant Market by Country, 2023 - 2030, USD Thousands
TABLE 21 LAMEA Military Market by Country, 2019 - 2022, USD Thousands
TABLE 22 LAMEA Military Market by Country, 2023 - 2030, USD Thousands
TABLE 23 LAMEA Off-Grid Generator Market by Country, 2019 - 2022, USD Thousands
TABLE 24 LAMEA Off-Grid Generator Market by Country, 2023 - 2030, USD Thousands
TABLE 25 LAMEA Portable Electronics Market by Country, 2019 - 2022, USD Thousands
TABLE 26 LAMEA Portable Electronics Market by Country, 2023 - 2030, USD Thousands
TABLE 27 LAMEA Others Market by Country, 2019 - 2022, USD Thousands
TABLE 28 LAMEA Others Market by Country, 2023 - 2030, USD Thousands
TABLE 29 LAMEA Thermophotovoltaics Market by Country, 2019 - 2022, USD Thousands
TABLE 30 LAMEA Thermophotovoltaics Market by Country, 2023 - 2030, USD Thousands
TABLE 31 Brazil Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 32 Brazil Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 33 Brazil Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 34 Brazil Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 35 Brazil Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 36 Brazil Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 37 Argentina Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 38 Argentina Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 39 Argentina Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 40 Argentina Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 41 Argentina Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 42 Argentina Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 43 UAE Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 44 UAE Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 45 UAE Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 46 UAE Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 47 UAE Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 48 UAE Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 49 Saudi Arabia Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 50 Saudi Arabia Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 51 Saudi Arabia Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 52 Saudi Arabia Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 53 Saudi Arabia Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 54 Saudi Arabia Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 55 South Africa Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 56 South Africa Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 57 South Africa Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 58 South Africa Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 59 South Africa Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 60 South Africa Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 61 Nigeria Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 62 Nigeria Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 63 Nigeria Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 64 Nigeria Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 65 Nigeria Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 66 Nigeria Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 67 Rest of LAMEA Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 68 Rest of LAMEA Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 69 Rest of LAMEA Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 70 Rest of LAMEA Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 71 Rest of LAMEA Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 72 Rest of LAMEA 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 LAMEA 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 LAMEA Thermophotovoltaics Market share by Type, 2022
FIG 6 LAMEA Thermophotovoltaics Market share by Type, 2030
FIG 7 LAMEA Thermophotovoltaics Market by Type, 2019 - 2030, USD Thousands
FIG 8 LAMEA Thermophotovoltaics Market share by Application, 2022
FIG 9 LAMEA Thermophotovoltaics Market share by Application, 2030
FIG 10 LAMEA Thermophotovoltaics Market by Application, 2019 - 2030, USD Thousands
FIG 11 LAMEA Thermophotovoltaics Market share by Country, 2022
FIG 12 LAMEA Thermophotovoltaics Market share by Country, 2030
FIG 13 LAMEA 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