According to a new market research report, “Global Photovoltaic (PV) Market & Insights into Chinese and Japanese Photovoltaic (PV) Markets (2010 - 2015)”, published by MarketsandMarkets (www.marketsandmarkets.com), the total PV market is expected to reach $130.0 billion by 2015 at a CAGR of 18.5% from 2010 to 2015.
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The market for PV-based solutions is expected to grow in an exponential manner. The annual market for PV has developed from around 1 GW in 2003 to more than 7 GW in 2009. China and Japan have set high targets such as reduction in carbon intensity by 40 to 45% by 2020 and 12 to 15% increase in the share of non-fossil fuels in the primary energy usage by the same year by the government of China and installation of 28,000 MW by 2020 and 53,000 MW by 2030 by the government of Japan. This has also led to the construction and installation of solar projects throughout the region. PV companies, banks, energy investors, and state-owned power companies are strongly involved in the formation of alliances and other agreements in order to secure a stable position in this potential market.
With respect to technology, thin film technologies are favored as compared to crystalline silicon technology mainly due to their physical flexibility, comparably low cost, aesthetic factor, and the wide range of options provided for installation. With respect to the various components used in PV systems, optics are found to play a key role in bringing down the overall cost of the system as they help to reduce the usage of high cost semiconductor material.
The entire PV market is expected to reach $130.0 billion in 2015 from just about $55.7 billion in 2010 at a CAGR of 18.5% from 2010 to 2015. Asia is observed to have the highest growth potential in the PV market at a CAGR of 16.7% from 2010 to 2015.
Scope of the report
This report analyzes the global PV market based on:
- Types
- Thin film PV
- Concentrated PV
- Solar PV
- Components market
- Cells
- Modules
- Optics
- Trackers
- Applications market
- Consumer Electronics and Telecommunication
- Building Integrated Photovoltaic (BIPV)
- Grid Connected Power Supply
- Military and Space
- Others
- Geographical market
- North America
- Europe
- Asia
- ROW
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the PV market in North America, Europe, Asia, and ROW. The report draws the competitive landscape of the PV market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over their competitors. The report also covers the Chinese and Japanese PV market in an elaborate manner. There is also analysis of the export import trade in Japanese and Chinese PV market for the HS code 854140. This analysis includes the study on technical barriers to trade, non tariff barriers and WTO norms for PV trade.
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