A recent study by Transparency Market Research (TMR) forecaststhat the global solarphotovoltaic installation market will grow at a CAGR of10.7% between 2012 and 2018. TMR, a market intelligence company based in theUnited States reports, the global solar photovoltaic (PV) installation marketwill be valued at US$145.9 billion by 2018. The report titled ‘SolarPhotovoltaic Installation Market - Global Industry Analysis, Size, Share,Growth, Trends and Forecast, 2012 - 2018’ is available for saleon the website.
According to this market research report, the global solarphotovoltaic installation market is driven by the ever-increasing demand forelectricity all across the globe. Since solar energy is abundantly available incertain parts of the world, several market players are shifting their focustowards solar photovoltaic installations to meet the growing energy demands.Also, the global solar photovoltaic installation market is propelled by growingawareness about environmental sustainability and the benefits of resorting tonon-conventional (renewable) energy sources. The other factors that drive thismarket are greater output efficiency, cheaper installation costs andmaintenance, falling prices, and favorable government schemes andregulations.
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This market research study segments the global solarphotovoltaic installation market on the basis of technology, grid type, endusers, and geography. The technologies that are applied in the global solarphotovoltaic 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 segmentedinto off-grid solar photovoltaic and grid connected solar photovoltaic. On thebasis of end-use, this market is classified into utility scale solarphotovoltaic, residential solar photovoltaic, and commercial solarphotovoltaic. The application of solar photovoltaic systems in the residential segmentand in commercial buildings has increased substantially in recent years. Theseare by far the best suited for institutional and commercial applications suchas in offices, hotels, and hospitals.
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From the regional perspective, the TMR report categorizes theglobal solar photovoltaic installation market into Asia Pacific, North America,Africa, the Middle East, Europe, and Rest of the World. The popularity ofoff-grid solar photovoltaic is particularly observed in the South Africa marketand this trend is expected to continue in the coming years as well. Europedominates the global solar photovoltaic installation market. However, due toextensive applications in the residential, commercial, and industrial segments,the Asia Pacific solar photovoltaic installation market and other similaremerging markets are expected to witness robust growth during the forecastperiod. The research report profiles some of the key market players operatingin the global solar photovoltaic installation such as Trina Solar Ltd.,Canadian Solar Inc, Bosch Solar Energy AG, Yingli Green Energy Holdings Co.Ltd., Suntech Power Holdings Co. Ltd., and First Solar Inc.
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Transparency Market Research (TMR) is a global marketintelligence company providing business information reports and services. Thecompany’s exclusive blend of quantitative forecasting and trend analysisprovides forward-looking insight for thousands of decision makers. TMR’sexperienced team of analysts, researchers, and consultants use proprietary datasources and various tools and techniques to gather and analyzeinformation.
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