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Published: Feb, 2014 | Pages:
75 | Publisher: Grand View Research
Industry: Energy | Report Format: Electronic (PDF)
Global Solar PV Market Expected to Reach 489.8 GW by 2020 February 2014 San Francisco, February 5, 2014 - The global installed capacity for solar PV is expected to reach 489.8 GW by 2020. Growing push for sustainability has led to increased focus on renewable energy forms such as solar PV. In addition, favorable regulatory policies such as Feed in Tariff (FIT) is expected to further increase installed capacity, particularly along the Sunbelt countries. The reduction in price of PV modules is expected to lower the cost of energy generated by solar PV to USD 0.07 - USD 0.16, making it competitive to oil or gas fired peak power plants. Countries with large PV potential such as Brazil, Chile and Saudi Arabia have not expanded as expected and this is expected to hamper the development of the market over the next six years. Aggressive capacity addition, particularly in China is expected to make the market oversupplied resulting in further lowering of prices. Product differentiation and innovation is extremely crucial with companies diversifying in both upstream and downstream markets, with expansion in project development and building strategic partnership. There are widespread opportunities in the form of new emerging markets and the link between reduced prices and unlocking of new markets is expected to be the key to market development. Further key findings from the study suggest: Utility scale solar PV was the largest end use segment for the solar PV market and accounted for over 45% of the global installed capacity. This segment is also expected to witness fastest growth on account of the growing need for power coupled with competitive prices offered by solar PV modules for power generation. The use of solar PV for non residential application is also expected to show significant growth over the next six years with major Sunbelt countries looking to harness the potential of solar energy and employ it as a substitute to conventional forms of energy. The segment is expected to grow at a CAGR of over 20% from 2013 to 2020. Europe had the largest installed base of solar PV in 2012 primarily due to installations in countries such as Germany, Italy, Spain and France. The total installed capacity for Europe exceeded 70 GW as of 2012. However, the region is expected to lose share owing to the rapid development of solar PV market in China and countries of Asia pacific such as India, South Korea, Taiwan and Australia. China is expected to show the fastest growth over the next six years due and is expected to grow at a CAGR of over 35% from 2013 to 2020. The regulatory support in the country in addition to the low cost of raw materials is expected to fuel the aggressive development. Yingli Green Energy (China) and First Solar (USA) are two of the largest companies operating in the market. The other key companies manufacturing solar PV systems include Canadian Solar, Sharp, REC, Trina Solar and Hareon Solar among others. For the purpose of this study, Grand View Research has segmented the global solar PV market on the basis of end use and region: Solar PV End Use Outlook, Residential Non Residential Utility Solar PV Regional Outlook, North America Latin America Europe China Asia Pacific Rest of the World
Table of Contents
Chapter 1 Executive Summary 1.1 Solar PV - Industry Summary & Critical Success Factors (CSFs) Chapter 2 Solar PV Industry Outlook 2.1 Market Segmentation 2.2 Market Size and Growth Prospects 2.3 Solar PV Market Dynamics 2.4 Key Opportunities Prioritized 2.5 Industry Analysis - Porter's 2.6 Solar PV - Company Market Share Analysis 2.7 Solar PV - PESTEL Analysis Chapter 3 Solar PV End User Outlook 3.1 Residential 3.2 Non Residential 3.3 Utility Chapter 4 Solar PV Regional Outlook 4.1 North America 4.2 Latin America 4.3 Europe 4.4 China 4.5 Asia Pacific 4.6 RoW Chapter 5 Solar PV - Competitive landscape 5.1 Tianwei New Energy (China) 5.1.1 Company Overview 5.1.2 Financial Performance 5.1.3 Product Benchmarking 5.1.4 Strategic Initiatives 5.2 ReneSola (China) 5.2.1 Company Overview 5.2.2 Financial Performance 5.2.3 Product Benchmarking 5.2.4 Strategic Initiatives 5.3 Kyocera (Japan) 5.3.1 Company Overview 5.3.2 Financial Performance 5.3.3 Product Benchmarking 5.3.4 Strategic Initiatives 5.4 Hanwha-SolarOne (China) 5.4.1 Company Overview 5.4.2 Financial Performance 5.4.3 Product Benchmarking 5.4.4 Strategic Initiatives 5.5 REC (Norway) 5.5.1 Company Overview 5.5.2 Financial Performance 5.5.3 Product Benchmarking 5.5.4 Strategic Initiatives 5.6 Hareon Solar (China 5.6.1 Company Overview 5.6.2 Financial Performance 5.6.3 Product Benchmarking 5.6.4 Strategic Initiatives 5.7 Jinko Solar (China) 5.7.1 Company Overview 5.7.2 Financial Performance 5.7.3 Product Benchmarking 5.7.4 Strategic Initiatives 5.8 JA Solar (China) 5.8.1 Company Overview 5.8.2 Financial Performance 5.8.3 Product Benchmarking 5.8.4 Strategic Initiatives 5.9 First Solar (USA) 5.9.1 Company Overview 5.9.2 Financial Performance 5.9.3 Product Benchmarking 5.9.4 Strategic Initiatives 5.10 Suntech Power (China) 5.10.1 Company Overview 5.10.2 Financial Performance 5.10.3 Product Benchmarking 5.10.4 Strategic Initiatives 5.11 Canadian Solar (Canada) 5.11.1 Company Overview 5.11.2 Financial Performance 5.11.3 Product Benchmarking 5.11.4 Strategic Initiatives 5.12 Trina Solar (China) 5.12.1 Company Overview 5.12.2 Financial Performance 5.12.3 Product Benchmarking 5.12.4 Strategic Initiatives 5.13 Sharp (Japan) 5.13.1 Company Overview 5.13.2 Financial Performance 5.13.3 Product Benchmarking 5.13.4 Strategic Initiatives 5.14 SunPower (USA) 5.14.1 Company Overview 5.14.2 Financial Performance 5.14.3 Product Benchmarking 5.14.4 Strategic Initiatives 5.15 Yingli Green Energy (China) 5.15.1 Company Overview 5.15.2 Financial Performance 5.15.3 Product Benchmarking 5.15.4 Strategic Initiatives Chapter 6 Methodology and Scope 6.1 Research Methodology 6.2 Research Scope & Assumption 6.3 List of Data Sources List of Tables
Global Solar PV installed capacity, 2012 - 2020 Global Solar PV installed capacity by region, (GW), 2012 - 2020 Global Solar PV installed capacity by application, (GW), 2012 - 2020 Global Residential Solar PV installed capacity, 2012 - 2020, (GW) Global Non Residential/ Commercial Solar PV installed capacity, 2012 - 2020, (GW) Global Utility Solar PV installed capacity, 2012 - 2020, (GW) North America Solar PV installed capacity, 2012 - 2020, (GW) Latin America Solar PV installed capacity, 2012 - 2020, (GW) Europe Solar PV installed capacity, 2012 - 2020, (GW) China Solar PV installed capacity, 2012 - 2020, (GW) Asia Pacific Solar PV installed capacity, 2012 - 2020, (GW) Rest of the World (RoW) Solar PV installed capacity, 2012 - 2020, (GW) List of Figures Solar PV industry summary & critical success factors (CSFs) Solar PV industry summary & critical success factors (CSFs) Solar PV market segmentation Global Solar PV installed capacity, (GW), 2012 - 2020 Global Solar PV installed capacity growth by region, (GW), 2012 - 2020 Global Solar PV installed capacity growth by application, (GW), 2012 - 2020 Solar PV market dynamics Solar PV company market share analysis, 2012 Key opportunities prioritized Industry analysis - Porter's Solar PV PESTEL analysis, 2012 Solar PV Installed Capacity share by application, 2012 & 2020 Global residential solar PV installed capacity, (GW), 2012-2020 Global non residential/commercial solar PV installed capacity, (GW), 2012-2020 Global utility solar PV installed capacity, (GW), 2012-2020 Solar PV installed capacity share by region, 2012 & 2020 North America solar PV installed capacity Latin America solar PV installed capacity, by application, 2012 Europe solar PV installed capacity, by application, 2012 China solar PV installed capacity, by application, 2012 Asia Pacific solar PV installed capacity, by application, 2012 Rest of the World solar PV installed capacity, by application, 2012 Global Solar PV Market - competitive landscape Research methodology List of data sources Research scope & assumptions Disclaimer
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