Thermophotovoltaics Market Share

APAC Market Statistics

The Asia Pacific thermophotovoltaics market is projected to have the highest growth by the end of 2036, backed by the growing population in this region that is increasing the demand for energy. 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.