The PV market is observed to be one of the fastest growing sectors buoyed by different government incentives and intense R&D activities. PV technology is emerging as the major technology for generation of power in the world; which is evident from the continuous growth witnessed in the last decade.
Dallas, TX -- (SBWIRE) -- 11/14/2011 -- According to a new market research report, “Global Photovoltaic (PV) Market & Insights into Chinese and Japanese Photovoltaic (PV) Markets (2010 – 2015)”, published by MarketsandMarkets (http://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.
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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MarketsandMarkets: Global Photovoltaic Market worth $130.0 Billion by 2015
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