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Solar Photovoltaic Cumulative Installations to Grow by Robust 33% CAGR (2010-2020) to Reach 732 Gigawatts

Thursday 27 Mar 2014

Industry Experts has today added a new market research report on Solar Photovoltaics. The report ‘Solar Photovoltaic Installations – A Global Market Overview’ reveals that the global annual photovoltaic installations is projected to grow by massive 24% CAGR during the period 2010-2020 to reach 146 Gigawatts by 2020 while global cumulative installations will reach 732 GW.

Global cumulative operating capacity of solar photovoltaic (PV) installations crossed over 135 GW in 2013, driven primarily by Europe and significant late-year additions in Asia-Pacific. Declining prices has led to solar PV’s expansion in new markets, ranging from Africa and the Middle East region to Asia and Latin America. The year also witnessed growing interest in community-owned and self-generated PV systems, with the number and scale of large PV projected also going up. High levels of competition and declining prices and margins left PV cell and module manufacturers in a precarious position, leading to greater industry consolidation and shutting shop for a number of manufacturers in China, Europe and the United States.

In the wake of a slowdown in traditional European markets, declining PV prices has facilitated competition in newer markets across the world, with Namibia and South Africa being two such regions where large-scale solar parks were brought online in 2012. Seizing the opportunity, Chinese companies initiated construction of projects in at least 20 African countries with the goal of bolstering demand for exports from the country.

The prominent solar PV technologies market explored in this report comprise Crystalline Silicon (c-Si) and Thin Films. These PV technologies further classified as Crystalline Silicon (c-Si) – Monocrystalline Silicon (Mono-c-Si) and Multicrystalline Silicon (Multi-c-Si); and Thin Films – Cadmium Telluride (CdTe), Amorphous Silicon (a-Si) and Copper Indium Gallium Selenide (CIGS). The global market for Photovoltaics is analyzed in this study in terms of megawatts for annual and cumulative installations.

In terms of annual installations, Europe was the clear leader, with 16.7 GW being installed in 2012 that accounted for 51.6% of the global market, though this was a substantial decline of 24.9% over 2011’s 22.2 GW installed and 73.7% share, making it a first for the region since 2000. The principal causes of this decline were attributed to reduction in incentives, including FiT payments and wide-ranging ambiguity in policies, with Italy being the most adversely impacted in declining by 63.6% in 2012 over 2011. The global market for annual Solar Photovoltaic installations, estimated at 32.2 gigawatts (GW) in 2013 and forecast to be 41.1 GW in 2014, is further projected to reach 145.8 GW by 2020, thereby maintaining a CAGR of 24% between 2010 and 2020.

The report reviews, analyses and projects the PV installations market for global and the regional markets including North America, Europe, Asia-Pacific and Rest of World. The regional markets further analyzed for 26 independent countries across North America – The United States, Canada and Mexico; Europe – Austria, Belgium, Bulgaria, Czech Republic, France, Germany, Greece, Italy, the Netherlands, Portugal, Spain, Switzerland and the United Kingdom; Asia-Pacific – Australia, China, India, Japan, South Korea, Taiwan and Thailand; and Rest of World – Brazil, Israel and South Africa.

This 684 page global market report includes 424 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. This report profiles 30 key global players and 45 major players across North America – 6; Europe – 7; and Asia-Pacific – 32. The research also provides the listing of the companies engaged in manufacturing and supply of solar photovoltaics. The global list of companies covers addresses, contact numbers and the website addresses of 173 companies.

Hyderabad, India based Industry Experts is a multi industry focused business information provider.

For more details, please visit https://industry-experts.com/verticals/general/solar-photovoltaic-installations-a-global-market-overview.html