Thermophotovoltaics Market Size & Share, by Type (Silicon Photovoltaic Cells, Crystalline Silicon Photovoltaic Cells, Thin-Film Photovoltaics Cells); Fabrication Method (Non-Epitaxial, Epitaxial); Application (Solar Photovoltaic, Nuclear, Thermal Power Plants, Off-Grid Generators, Vehicles & Submarines, Commercial, Portable Electronics, Satellites & Space) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4987
  • Published Date: Jun 02, 2023
  • Report Format: PDF, PPT

Companies Dominating the Thermophotovoltaics Landscape

    • Curtiss-Wright Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Antora Energy
    • MIT Energy Initiative
    • COMSOL
    • General Electric
    • Coherent Corporation
    • Tesla
    • Vattenfall AB
    • Exide Technologies
    • American Elements

Browse Key Market Insights with Data Illustration:


In The News

  • The world's first thermophotovoltaic (TPV) cell manufacturing line has been created by Antora Energy, a pioneer in low-carbon heat and electricity for the industrial sector. This marks a significant advancement in the production and scalability of TPV technology. Additionally, the business has established a new standard for the sector by demonstrating a TPV efficiency rate of more than 40%. With these significant accomplishments, Antora is ready to revolutionize energy storage and conversion, two processes essential for industrial decarbonization and achieving net zero.
  • A heat engine without moving parts that functions similarly to the photovoltaic cells in a solar panel has been created by engineers from MIT and the National Renewable Energy Laboratory. A grid-scale thermal battery might include the engine.

Author Credits:  Smruti Ranjan, Rajrani Baghel

  • Report ID: 4987
  • Published Date: Jun 02, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are the growing demand for hybrid vehicles, a rise in space activities, and a surge in the number of people with no electricity.

The market size of thermophotovoltaics is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Curtiss-Wright Corporation, Antora Energy, MIT Energy Initiative, COMSOL, and more.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, fabrication method, application and by region.

The crystalline silicon photovoltaics cells segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

High cost of thermophotovoltaics, the complexity of integrating TPV systems, and the lack of efficiency are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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