Solar PV systems are primarily segmented into three technologies that include thin film PV, crystalline silicon PV and others (organic solar PV, CPV etc.). Thin film PV is expected to fuel the overall solar PV market owing to the increasing popularity of thin film PV systems worldwide. The conventional silicon PV system acquired maximum share in 2011 due to its robust nature and high efficiency output and low cost.
Albany, NY -- (SBWIRE) -- 06/30/2016 -- The solar photovoltaic installation market has received a significant boost owing to growing global awareness regarding renewable and sustainable energy resources and the popularity of solar energy in recent times. The research report identifies many such factors that drive the solar photovoltaic installation market across the globe. It also determines factors that inhibit the growth of the industry and those that are expected to fuel the solar photovoltaic installation market in future.
The report studies the overall solar photovoltaic installation market and analyses its nuances with in-depth focus and accuracy. Breaking the solar photovoltaic installation market down into smaller sub-segments, the report evaluates individual areas of operation and determines their contribution to the solar photovoltaic installation market.
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With the help of tools such as value chain analysis, Porter's five forces analysis and SWOT analysis, the report offers key insights on the various stakeholders of the solar photovoltaic installation market, the impact of competitors, substitutes, and new entrants, product portfolio and analysis, and the power of buyers and suppliers in the solar photovoltaic installation market.
Overview of the solar photovoltaic installation market
Based on figures provided by the report, the global solar photovoltaic installation market was 29.6 gigawatts in the year 2011, and growing at a 10.7% CAGR, is expected to be 60.05 gigawatts by 2018. In terms of revenue, the solar photovoltaic installation market is expected to be worth US$145.9 billion by 2018.
The global solar photovoltaic installation market is primarily driven by the mounting worldwide demand for electricity coupled with abundant supply of solar energy. Favorable government regulations and schemes, concerns regarding sustainability and environment conservation, lower prices, and adequate output efficiency have also fueled the growth of the solar photovoltaic installation market.
Accounting for more than 75.7% of the global solar photovoltaic installation, the Europe, Middle East and Africa (EMEA) region dominated the market in 2011. This was followed by Asia-Pacific in terms of solar photovoltaic installation capacity. This is mainly due to increasing popularity and dependence on solar power in emerging countries such as China and India. Most of the demand for solar photovoltaic installation systems comes from commercial, utility-scale, and residential sectors. This paradigm shift from nonrenewable to renewable energy sources, support from the government, and reduced prices are projected to propel the Asia-Pacific market for solar photovoltaic installation in the forecast period. Among the major end uses, the residential sector accounted for 30.22% of the total demand for solar photovoltaic installation and is expected to be the fastest-growing segment, accounting for 33.36% of the demand by 2018. In terms of technology, crystalline silicon solar photovoltaic installation held the largest market share with 80.81% in 2011, while in terms of grid type, grid-connected solar photovoltaic installation was the largest segment in 2011 with 98.03% of the total installed capacity.
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Companies mentioned in the research report
There are numerous players in the global solar photovoltaic installation market that cater to the wide-range of requirements of the customers. Some of the companies mentioned in the solar photovoltaic installation market report are First Solar Inc., Sharp Corporation, Trina Solar Ltd., Schott Solar Ag., Sun Power Corporation, and Yingli Green Energy Holding Co. Ltd.
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