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Photovoltaics Market - Global Industry Analysis, Size, Share and Forecasts 2012 - 2018

Transparency Market Research has published a new report titled "Photovoltaics Market - Global Industry Analysis, Size, Share And Forecasts 2012 - 2018" to its report store.

 

Albany, NY -- (SBWIRE) -- 09/25/2014 -- The evolution of the photovoltaic technology dates back to the year 1839 and thereafter, in the early 1950s the photovoltaic market began its commercialization in the United States.

Today, the solar photovoltaic market is enormously flourishing in several regions of North America because of the rising demand from financial support government schemes and customers in various countries.

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Photovoltaic (PV) is the field of technology that is mainly related to tapping the sun’s solar energy released in the form of photons and transforming it into electricity. The current PV technologies utilize semiconductor materials such as silicon or any other semiconducting materials that are also found in computers and other electronic equipment. The use of semiconductor materials is mainly due to their ability to release electrons from the atomic bonds to produce electricity.

Global Photovoltaics Market – Size and Growth

Looking at the market growth rates of several countries in the world, what we observe here is a unique trend that shows a shift of end-market demand starting from Europe and towards Asia. However, reportedly the three fastest growing PV markets in 2013 were China, Japan, and Thailand that showed a doubling figure each year as compared to their previous years. Conversely, in 2013 the other three top European markets witnessed end-market levels declination, with only the United Kingdom showing a stable growth in the photovoltaic market.

European Photovoltaic market was once a leading role in this industry. However, this has come to an end with a certainty that the majority of the new PV capacity systems and related technology will now be installed outside Europe leaving the nation with very little room for significant PV growth.

The market has two leading manufactured solar photovoltaic (PV) technologies that are implemented in the commercial use; thin-film PV and crystalline silicon PV. Currently, the crystalline silicon PV cells market dominates the market growth with around 80% of the market share, whereas, the thin-film PV market is still catching up with the former.

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Some of the major countries seen active in dealing with thin-film PV technologies are namely China, Asia, Europe, Japan, Germany, Republic of Korea, and RoW. All these countries have a majority of share in this market constituting China 12%, Germany 19%, and others 53%.

While there are several analyzing factors that can be used to identify growth markets, it is also imperative for us to understand a number of underlying factors driving the overall photovoltaics market.

Primary Growth Factors of PV Market

Although, sunlight is also considered as a virtual endless resource, it is unlike the fossil fuels. Today, the growing desire for clean and renewable energy resources has grown rapidly over the past few years. And this is achieved through the usage of solar panels.

Solar panels help to convert the ultraviolet (UV) radiation from the sun to electricity and produce no emissions. Solar cells are quite effective when it comes to alternative energy resources. The cells help to absorb the UV energy from the sunlight, and as electrons become detached from their atoms they produce electricity in the process. Due to such techniques and recent popularity in renewable alternative energy sources, the market for photovoltaics has increased.

Market Overview

After the descent of the Photovoltaic market in Europe, many market researchers now predict the residential, as well as commercial PV energy storage systems and the overall Photovoltaic market growth to be first seen in Germany and later in other PV markets across the globe. According to the solar industry specialists and engineers, the utilization of the PV systems will be channelized with the introduction of the Smart PV Systems. This will be the next economically sensible step to take in the evolution of the solar photovoltaic market – the emergence of the Smart PV System equipped with integrated batteries.

Indeed, such a technological development gives many reasons to assume that such systems are the wave of our future generations. To this day, the photovoltaics market has emerged from a conventional-challenging transition, and still continues its pacing growth in major markets that are leading to advancements and opportunities in all segments of the industry.

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