The study on the global photovoltaic market analyzes the industry by segmenting it on the basis of technology, application and geographical region. The photovoltaic market, which is integral to the overall renewable energy industry, is poised for strong growth. This growth will be brought about by numerous factors, which are discussed in depth in the report. Both current and future market trends are discussed in detail in the report.
The report is pertinent to industry stakeholders such as manufacturers of photovoltaic components and modules, installers and integrators of photovoltaic modules, EPC firms, investors, government agencies, and photovoltaic research firms. Electricity generated from solar photovoltaic systems is rapidly reaching grid parity; this has stirred up a great degree of interest among investors and market players alike. Keeping this in view, the report endeavors to answer all the important questions related to the photovoltaic market and offer definitive forecasts and estimates to 2018.
Overview of the Global Photovoltaic Market
Global photovoltaic installations have registered unprecedented growth rates since 2010, beating forecasts by a wide margin. Going forward, the global photovoltaic market might not be able to sustain this bullish growth rate, but will expand at a very healthy growth rate nevertheless. With many positive photovoltaic policies being framed in leading economies of the world, the environment continues to remain highly conducive for the growth of the photovoltaic market.
Focus on improving alternative energy sources continues to intensify largely because fossil fuel reserves are depleting. According to TMR estimates, the global photovoltaic market is forecast to stand at 55,621 megawatts by 2015, exhibiting a compounded annual growth rate (CAGR) of 38%. The market is witnessing continuous technological development. As governments throughout the world continue to develop strategies to reduce their dependence on non-renewable energy sources, solar energy is gaining prominence.
Manufacturing techniques are becoming more advanced with an emphasis on efficiency optimization. However, this sharp focus on efficiency will lead to a reduction in the actual quantity of material being employed for the manufacture of solar cells. The report estimates that by value, photovoltaic material will witness a 12.3% growth rate by 2015 to settle in around US$47 million.
While most developed and emerging countries are pumping in millions of investment dollars in the photovoltaic market, Germany and Japan continue to leaders on this front, with China inching closer to occupying the top spot. Photovoltaic devices are forecast to be experience a healthy growth rate in Europe and the Americas. Photovoltaic materials and modules are yet to enjoy the same levels of adoption in developing economies as that of developed ones. Market players can change this situation by implementing more marketing and awareness campaigns.
Leading Players in the Global Photovoltaic Market
The report profiles leading photovoltaic market players such as: Bloo Solar, BP Solar International, 1366 Technologies, Inc., Konarka Technologies Inc., HelioVolt Corporation, Nano Solar, and others.
Based on Technology
- Monocrystalline Silicon Technology
- Multicrystalline Solar Cells
- Thin Film Solar Cells
- Polycrystalline Thin Film
- Cadmium Telluride Cells
- Gallium Arsenide Solar Cells
Based on Application
- Cottages and Residential Applications
- Mobile and Recreational Applications
- Agricultural Applications
This research report analyzes this market based on its market segments and major geographies. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
Reasons for Buying this Report
- It provides technological growth map over time and explains its impact on industry
- It provides distinctive graphics and exemplified SWOT analysis of major industry segments
- This research report provides forward looking perspective on major market forces driving and restraining market growth
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of industry trends
- It provides pin-point analysis of changing competition dynamics and keeps you ahead of competitors
- It provides complete analysis of major competitors and their strategies
- It provides clear understanding of key product segments and competitive environment