The North America Thermophotovoltaics Market would witness market growth of 11.4% CAGR during the forecast period (2023-2030).
Thermophotovoltaics (TPV) is a new technology that uses photovoltaic cells to turn thermal radiation into power. It answers several uses, such as solar power generation, waste heat recovery, and portable energy systems. Due to the demand for effective energy conversion and consumption, the popularity of TPV has sparked considerable improvements in this field. The industrial sector has acknowledged the advantages of TPV for waste heat recovery (WHR), which makes it possible to convert extra heat into usable energy.
The production of cement, steel, and glass are just a few examples of sectors where this use is especially pertinent. The overall energy efficiency of TPV systems is improved by capturing and converting this waste heat. Another application for TPV is the creation of solar power. Using the sun's thermal radiation, thermophotovoltaics technology converts solar heat into energy and supplements conventional photovoltaic systems. When there is little direct sunlight available, as there is when it is foggy or shaded, this method has advantages.
Canada invests heavily in nuclear energy research and development in order to use it to eliminate carbon from the energy system. Atomic energy is used to provide low-emission power for users in New Brunswick and Ontario. The nation's favorable nuclear energy development environment puts the thermal power industry in a better position than other low-carbon emission technologies. Nuclear energy is anticipated to stay the most significant source of energy in the nation, owing to initiatives to repair aging reactors. Therefore, the region presents lucrative growth prospects for the market throughout the forecast period.
The US market dominated the North America Thermophotovoltaics Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $46,713.6 Thousands by 2030. The Canada market is experiencing a CAGR of 13.9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 12.9% 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 U.S., Mexico, Canada, and Rest of North America.
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
- US
- Canada
- Mexico
- Rest of North America
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 North America Thermophotovoltaics Market, by Type
1.4.2 North America Thermophotovoltaics Market, by Application
1.4.3 North America 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. North America Thermophotovoltaics Market by Type
4.1 North America Crystalline Photovoltaic Cells Market by Country
4.2 North America Thin Film Photovoltaic Cells Market by Country
4.3 North America Silicon Photovoltaic Cells Market by Country
4.4 North America Others Market by Country
Chapter 5. North America Thermophotovoltaics Market by Application
5.1 North America Solar Market by Country
5.2 North America Nuclear Market by Country
5.3 North America Thermal Power Plant Market by Country
5.4 North America Military Market by Country
5.5 North America Off-Grid Generator Market by Country
5.6 North America Portable Electronics Market by Country
5.7 North America Others Market by Country
Chapter 6. North America Thermophotovoltaics Market by Country
6.1 US Thermophotovoltaics Market
6.1.1 US Thermophotovoltaics Market by Type
6.1.2 US Thermophotovoltaics Market by Application
6.2 Canada Thermophotovoltaics Market
6.2.1 Canada Thermophotovoltaics Market by Type
6.2.2 Canada Thermophotovoltaics Market by Application
6.3 Mexico Thermophotovoltaics Market
6.3.1 Mexico Thermophotovoltaics Market by Type
6.3.2 Mexico Thermophotovoltaics Market by Application
6.4 Rest of North America Thermophotovoltaics Market
6.4.1 Rest of North America Thermophotovoltaics Market by Type
6.4.2 Rest of North America 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 North America Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 2 North America Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 3 North America Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 4 North America Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 5 North America Crystalline Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 6 North America Crystalline Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 7 North America Thin Film Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 8 North America Thin Film Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 9 North America Silicon Photovoltaic Cells Market by Country, 2019 - 2022, USD Thousands
TABLE 10 North America Silicon Photovoltaic Cells Market by Country, 2023 - 2030, USD Thousands
TABLE 11 North America Others Market by Country, 2019 - 2022, USD Thousands
TABLE 12 North America Others Market by Country, 2023 - 2030, USD Thousands
TABLE 13 North America Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 14 North America Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 15 North America Solar Market by Country, 2019 - 2022, USD Thousands
TABLE 16 North America Solar Market by Country, 2023 - 2030, USD Thousands
TABLE 17 North America Nuclear Market by Country, 2019 - 2022, USD Thousands
TABLE 18 North America Nuclear Market by Country, 2023 - 2030, USD Thousands
TABLE 19 North America Thermal Power Plant Market by Country, 2019 - 2022, USD Thousands
TABLE 20 North America Thermal Power Plant Market by Country, 2023 - 2030, USD Thousands
TABLE 21 North America Military Market by Country, 2019 - 2022, USD Thousands
TABLE 22 North America Military Market by Country, 2023 - 2030, USD Thousands
TABLE 23 North America Off-Grid Generator Market by Country, 2019 - 2022, USD Thousands
TABLE 24 North America Off-Grid Generator Market by Country, 2023 - 2030, USD Thousands
TABLE 25 North America Portable Electronics Market by Country, 2019 - 2022, USD Thousands
TABLE 26 North America Portable Electronics Market by Country, 2023 - 2030, USD Thousands
TABLE 27 North America Others Market by Country, 2019 - 2022, USD Thousands
TABLE 28 North America Others Market by Country, 2023 - 2030, USD Thousands
TABLE 29 North America Thermophotovoltaics Market by Country, 2019 - 2022, USD Thousands
TABLE 30 North America Thermophotovoltaics Market by Country, 2023 - 2030, USD Thousands
TABLE 31 US Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 32 US Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 33 US Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 34 US Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 35 US Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 36 US Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 37 Canada Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 38 Canada Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 39 Canada Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 40 Canada Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 41 Canada Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 42 Canada Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 43 Mexico Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 44 Mexico Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 45 Mexico Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 46 Mexico Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 47 Mexico Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 48 Mexico Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 49 Rest of North America Thermophotovoltaics Market, 2019 - 2022, USD Thousands
TABLE 50 Rest of North America Thermophotovoltaics Market, 2023 - 2030, USD Thousands
TABLE 51 Rest of North America Thermophotovoltaics Market by Type, 2019 - 2022, USD Thousands
TABLE 52 Rest of North America Thermophotovoltaics Market by Type, 2023 - 2030, USD Thousands
TABLE 53 Rest of North America Thermophotovoltaics Market by Application, 2019 - 2022, USD Thousands
TABLE 54 Rest of North America Thermophotovoltaics Market by Application, 2023 - 2030, USD Thousands
TABLE 55 key Information – Tesla, Inc.
TABLE 56 key Information – Schott AG
TABLE 57 Key Information – Abengoa
TABLE 58 Key Information – BrightSource Energy, Inc.
TABLE 59 Key Information – Spectrolab, Inc.
TABLE 60 Key Information – Acciona, S.A.
TABLE 61 Key Information – ACWA Power
TABLE 62 Key Information –Azur Space Solar Power GmbH
TABLE 63 Key Information – Microlink Devices, Inc.
TABLE 64 Key Information – Alta Devices
List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Thermophotovoltaics Market share by Type, 2022
FIG 6 North America Thermophotovoltaics Market share by Type, 2030
FIG 7 North America Thermophotovoltaics Market by Type, 2019 - 2030, USD Thousands
FIG 8 North America Thermophotovoltaics Market share by Application, 2022
FIG 9 North America Thermophotovoltaics Market share by Application, 2030
FIG 10 North America Thermophotovoltaics Market by Application, 2019 - 2030, USD Thousands
FIG 11 North America Thermophotovoltaics Market share by Country, 2022
FIG 12 North America Thermophotovoltaics Market share by Country, 2030
FIG 13 North America 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