26 May 2017

Double Digit growth in Global Solar Industry – 2013


Double Digit growth in Global Solar Industry - 2013

In 2013, the global solar industry is expected to will have an exponential growth. But between 2014 and 2016, the sales are expected to touch “double-digit” growth and the total revenues will increase by 53.33% from the current levels to $115 billion in 2016, which would reflect a significant turnaround in the industry, according to the latest report given by IHS iSuppli’s, a research firm.

In 2012, the total installations were 32GW, which is predicted to have an increase of 9.38% to 35 GW in 2013 and this growth trend is likely to continue until 2017, according to Ash Sharma, a senior analyst from IHS. He also added that the revenues of the solar market will have decline of around $75 billion in 2013, which is $2 billion less as compared to 2012 and $19 billion less compared to $94 billion in 2011.

The leading players in the Global solar industry are First Solar, Inc, Sun Power Corporation and Yingli Green Energy Hold. Co. Ltd. These companies will continue to focus on driving down their manufacturing costs.

In 2013, the industry will see a number of firms globally will decrease to 150.

Asia is looking to replace Europe as the biggest solar market in the near future.

The solar industry mainly focused on Europe until 2010, which accounted for 80% of the global demand. But in 2012, the demand of PV from this debt-ridden continent shrank to 53% and is expected to fall further to 39% in 2013.

In 2013, Germany will be pushed back to the 3rd   position which accounted for most of the solar sales and was the number one solar market in the world and its place is been taken over by China, which is the home of five of the 10 biggest global solar companies. The U.S., Japan and Italy will secure the second, fourth and fifth positions, respectively. In Japan, inspite of FiT i.e. feed-in-tariff cuts currently, the country will continue to attract investments in its solar sector and will remain one of the leading markets.

In 2013, the total demand for solar PV and systems from the top five markets mentioned above is predicted to fall by 10% to 65% in 2013. Some of the mid-sized markets such as South Africa, Romania and Saudi Arabia will have a higher demand for solar energy. Because of the fall in average selling prices and rising energy needs of the emerging economies, the solar industry is expected to be globally recognized.

Source: solarpvinvestor.com

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