According to our latest research offering “Global Photovoltaic Market Forecast to 2013”, photovoltaic industry bucked global economic slowdown effects and installations posted 14.3% year on year growth in 2009. Installations further amplified in 2010 and reached record heights during the same year. Emerging markets, especially China has been at the forefront of the photovoltaic market developments for the past few years and posted one of the fastest growth rates in annual and cumulative installations. The market is set for rapid expansion and annual installations are anticipated to increase at least 5-folds by 2013 since their 2009 levels.
The study reveals that, due to the active participation of both public and private sectors, Chinese PV industry has witnessed fast expansion during the recent few years. Easy and cheap availability of skilled manpower and inexpensive raw material supply have made China one of the most important PV producing countries in the world. We expect this trend to remain applicable during our forecast period, which will enable the country to capture dominant share in global PV installations in coming years.
Besides PV capacity installations, China has emerged as the world’s largest solar cell producer. Chinese solar cell industry has been undergoing the process of restructure in its entire value chain, which involves innovations in thin film techniques and decrease in capital cost. Despite aggressive market developments, country is still to materialize its solar energy potentials. As per the analysis, if China captures 1% of available resources and utilizes with mere 15% efficiency, it can supply electricity equivalent to the world’s current 18 months electricity consumption. This can be perceived as an unmatched market opportunity and new market entrants can benefit from establishing their roots in the country.
Our report “Global Photovoltaic Market Forecast to 2013” focuses on the growing marketplace for PV industry at the global as well as the country level and analyzes current market trends along with future growth prospects of the industry. It contains detail data on cumulative installed PV capacity, annual installed PV capacity, and the future market potential of the key countries, thereby helping clients to identify factors critical to their successful market penetration.