Solar PV Market - Industry Analysis, Size, Share, Growth, Trends and Forecast to 2020 | Hexa Research

Rapidly increasing use of renewable energy systems for commercial and residential applications coupled with low costs and efficiency of these systems are the major factors driving the global solar PV market.

As per the findings of a study conducted by Hexa Research, the total worldwide Solar PV (photovoltaic) installed capacity for 2020 will be more than 480GW. Key factors contributing to growth are higher global emphasis on clean energy production coupled with governmental support in the form of beneficial policies for development of Solar PV Market. Sunbelt countries will particularly gain from regulations like Feed in Tariff which is a preferential rate program.

Hexa Research foresees falling prices of energy generated using Solar PV in future, chiefly due to huge increase in capacity, especially in China. The global Solar PV market demands that companies employ innovation and differentiation strategies as a way to grow. Alliances and partnerships are crucial for gaining competitive edge.

Browse Details of Report @ https://www.hexaresearch.com/research-report/solar-pv-industry/

Non-residential applications of Solar PV are likely to grow at a CAGR higher than 19% from 2013 to 2020 owing to substitution of conventional energy forms by solar energy in Sunbelt regions. Hexa Research observed that Utility Solar PV, with more than 44% share in the total installed capacity, was the biggest end use segment in the global Solar PV market in 2012. The study forecasts that this segment will experience fastest growth in coming years.

Countries like Germany, France, and Spain, among others led to Europe hosting the largest capacity of Solar PV i.e. more than 68GW, in 2012. However, in future, most demand will be generated from rapidly developing Asia Pacific markets like China, India, Taiwan, etc. China, with factors like low raw material costs and supportive regulations will experience exponential growth at CAGR of more than 34.5% from 2013 to 2020. Lower than expected development of Solar PV in high-potential nations like Brazil and Chile in Latin America and Saudi Arabia in the Middle East may hinder market growth.

Key operators in the global Solar PV industry are Yingli Green Energy from China and First Solar from US. Other notable participants are Trina Solar, Sharp, REC, etc.

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/energy-and-power-industry


Contact Details

Company Name: Hexa Research
Issued By: Ryan Shaw
Phone: 8004893075
Address: Felton Office Plaza 6265 Highway 9
City: Felton
State: CA
Zip: 95018
Country: United States
Website: Visit the website

Keywords : solar PV market, solar PV market size, solar PV market share, solar PV market analysis, solar PV market growth, solar PV market trends, solar PV market forecasts,

by Ryan Shaw (last year!)

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