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Thermophotovoltaics Market Share

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Report ID: 4987
Published Date: Dec 20, 2024
Report Format: PDF, PPT

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Thermophotovoltaics Market Share

APAC Market Statistics

Asia Pacific industry is predicted to dominate majority revenue share of 48% by 2037, backed by increasing the demand for energy in the region. About 4.3 billion people live in the Asia and Pacific region, which also has the world's two most populous nations, China and India. This region is home to 60% of the population of the world.

North America Market Forecast

The thermophotovoltaics market in Asia Pacific is set to have the significant growth over the forecast period. In North America, the focus to reduce the use of fossil fuels is growing which has boosted the demand for renewable energy. Hence, TPV technology is considered to be one of the most sustainable energy sources. This is why this technology is in high demand in this region.

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Browse Key Market Insights with Data Illustration:

Thermophotovoltaics Market Research | Global Statistics Report 2037

Author Credits: Rajrani Baghel

Report ID: 4987
Published Date: Dec 20, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of thermophotovoltaics is assessed at USD 12.88 billion.

The thermophotovoltaics market size was over USD 11.5 billion in 2024 and is projected to reach USD 28.74 billion by 2037, growing at around 7.3% CAGR during the forecast period i.e., between 2025-2037. The market growth is driven by growing demand for hybrid vehicles, a rise in space activities, and a surge in the number of people with no electricity.

Asia Pacific industry is predicted to dominate majority revenue share of 48% by 2037, backed by increasing the demand for energy in the region.

The major players in the market are Curtiss-Wright Corporation, Antora Energy, MIT Energy Initiative, COMSOL, General Electric, Coherent Corporation, Tesla, Vattenfall AB, Exide Technologies, American Elements

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