Growing
need of alternative energy sources due to rapidly depleting non-renewable
energy sources is driving the market for photovoltaics. The global photovoltaic
market is expected to reach 55,621 megawatts value by the year 2015 with the
compounded annual growth rate of 38%. Continuous developments in this market
and growing support from government of most countries are some of the major
factors contributing to the growth of this market.
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Improvements in manufacturing techniques and efficiencies will
reduce the actual material quantity used in solar cells. Value of photovoltaic
material is projected to grow by 12.3% by the year 2015 and reach $47 million.
Japan and Germany are the largest manufacturers as well as consumers of
photovoltaic materials. Use of photovoltaic devices is growing in developed
nations of the Americas and European region; however, PVs are less preferred in
developing economies due to lack of awareness about its efficiency and consumer
awareness.
Market Segmentation
Based on Technology
·
Monocrystalline Silicon Technology
·
Multicrystalline Solar Cells
·
Thin Film Solar Cells
·
Polycrystalline Thin Film
·
Cadmium Telluride Cells
·
Gallium Arsenide Solar Cells
Based on Application
·
Cottages and Residential Applications
·
Mobile and Recreational Applications
·
Agricultural Applications
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This research report analyzes this market depending on its
market segments, major geographies, and current market trends. Geographies
analyzed under this research report include
·
North America
·
Asia Pacific
·
Europe
·
Rest of the World
This report provides comprehensive analysis of
·
Market growth drivers
·
Factors limiting market growth
·
Current market trends
·
Market structure
·
Market projections for upcoming years
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This report is a complete study of current trends in the market,
industry growth drivers, and restraints. It provides market projections for the
coming years. It includes analysis of recent developments in technology,
Porter’s five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors essential
for the existing market players and new entrants along with detailed value
chain analysis.
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