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Global solar photovoltaic installation market will grow at a CAGR of 10.7% between 2012 and 2018. TMR, a market intelligence company based in the United States reports, the global solar photovoltaic (PV) installation market will be valued at US$145.9 billion by 2018. The report titled ‘Solar Photovoltaic Installation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018’ is available for sale on the website.
According to this market research report, the global solar photovoltaic installation market is driven by the ever-increasing demand for electricity all across the globe. Since solar energy is abundantly available in certain parts of the world, several market players are shifting their focus towards solar photovoltaic installations to meet the growing energy demands. Also, the global solar photovoltaic installation market is propelled by growing awareness about environmental sustainability and the benefits of resorting to non-conventional (renewable) energy sources. The other factors that drive this market are greater output efficiency, cheaper installation costs and maintenance, falling prices, and favorable government schemes and regulations.
This market research study segments the global solar photovoltaic installation market on the basis of technology, grid type, end users, and geography. The technologies that are applied in the global solar photovoltaic installation market are crystalline silicon solar photovoltaic, thin film photovoltaic, and others which are CPV and organic photovoltaic. Based on grid types, the solar photovoltaic installation market is segmented into off-grid solar photovoltaic and grid connected solar photovoltaic. On the basis of end-use, this market is classified into utility scale solar photovoltaic, residential solar photovoltaic, and commercial solar photovoltaic. The application of solar photovoltaic systems in the residential segment and in commercial buildings has increased substantially in recent years. These are by far the best suited for institutional and commercial applications such as in offices, hotels, and hospitals.
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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.
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.
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements in the micro servers industry
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
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