World PV Industry to Grow at 28% CAGR

The global PV industry has seen considerable development over the past few years on the back of various factors such as government incentives for solar energy, international efforts to boost up R&D activities, increasing environmental concern and emission regulations. With the same trend is expected to continue in near future, the cumulative installed PV capacity worldwide will grow at a CAGR of around 28% during 2009-2013, says our new research report, "Global Photovoltaic Market Forecast to 2013". 

Our research foresees rapid growth in all solar PV industry applications, including on-grid, off-grid and consumer applications. It has been found that the current PV application base is dominated by the grid connected sector, representing roughly 85% of the market. However, this segment will lose its share to off-grid applications. Due to its immense potential, rural electrification in particular will experience considerable growth and the utility will range between small applications like air ventilators, hand machine tools, refrigerators and large demand such as the electrification of hospitals, schools, farms and shops.

We have also found that the future development of the PV market will vary from region to region around the world. The overall pattern of the scenario is that while the OECD region, especially the USA, Japan and Europe, will dominate the global market till 2013, much faster development is expected to take place in other regions, especially in South Asia (India and China) and rest of the world.

Our report, "Global Photovoltaic Market Forecast to 2013", provides comprehensive analysis of rapidly growing PV industry at the global and regional level. It gives detailed information about some of the key aspects of the industry, including current market trends, evolving market and growth prospects. The report also provides detailed data of cumulative PV capacity and annual installed PV capacity. This research enables clients to identify the driving forces of PV industry coupled with elaborate information about future opportunities critical for the success of the PV industry.

For more information visit: http://www.rncos.com/Report/IM203.htm