Global photovoltaic installations will reach 71 GW by 2014

According to our report “Global Photovoltaic Market Forecast to 2013”, global photovoltaic industry has been witnessing tremendous momentum on the back of growing concern towards declining conventional energy resources and highly volatile oil prices across the globe. With the growing demand for energy worldwide, the global PV market gets double in every two years, thus leading to reduction in price and increase in efficiency of modules. Moreover, increasing government support in the form of incentives will propel the growth of the annual installations in coming years. We expect that, the annual photovoltaic installation globally will reach around 71 GW by 2014.

According to the research, Germany and Japan are the clear leaders in terms of PV cumulative installation and annual PV installation. However, we expect that the annual installations in Japan will hamper in future due to the recent natural disaster. Although EU members and the Asia Pacific countries are heavily investing in new PV technologies and production facilities, a lot of work still needs to be done especially at the financial and marketing fronts.

Further, the report anticipates that, the future of PV market will largely depend on the government’s enforcement of existing or new support mechanisms across the world. Besides, competition among the major manufacturers is expected to intensify, with new players entering the market as the potential for PV opens up.

“Global Photovoltaic Market Forecast to 2013” focuses on the growing marketplace for the PV industry at the global as well as the country level and analyzes the current market trends along with future growth prospects of the industry. It contains extensive data on cumulative PV capacity, annual installed PV capacity, and the future market potential of the key countries. It also covers Europe, Asia-Pacific, and the Americas regions with special emphasis on key countries and current situation of the photovoltaic market in these countries.

The report also features the leading-edge opportunities critical to the success of the PV industry. It will help clients in determining the forces backing the growth of the PV industry, thus enabling them to outline their market strategies accordingly.