Global Market for Alternative Solar Technologies to Reach More Than $22.8 Billion in 2018; Next-Gen OPVs Growing at 75.3% CAGR
WELLESLEY, Massachusetts, March 6, 2014 /PRNewswire/ —
BCC Research (www.bccresearch.com) reveals in its new report, GLOBAL MARKETS FOR ALTERNATIVE SOLAR PHOTOVOLTAIC TECHNOLOGIES, the global market for alternative solar technologies is expected to grow to more than $22.8 billion by 2018, with a five-year compound annual growth rate (CAGR) of 10.5%.
Next-generation solar technologies, including organic photovoltaics (OPVs), multi-junction photovoltaics (MJPVs) and concentrating photovoltaics (CPVs), are starting to enter their commercial viability stage. Over the next five years, OPVs are expected to reach $149 million in 2018, registering a 75.3% CAGR. Meanwhile, MJPVs and CPVs are projected to grow to $1.8 billion, at a 42.8% CAGR.
Alternative solar technologies represent a significant and growing opportunity in markets around the world. According to BCC Research, the cadmium-telluride (CdTE) and Copper-Indium-Gallium-(di)Selenide (CIGS) markets will maintain healthy growth rates of just under 10% annually with much more significant market sizes of about $7.9 billion and nearly $12.7 billion, respectively, by the end of 2018.
“A key component of the most successful alternative solar technologies firms’ strategies from 2013 through 2018 will include concerted efforts to develop business opportunities in the emerging and frontier economies located outside of North America,Western Europe, Japan, and Australia,” says BCC Research energy analyst Bryan Boots. “While growth will be strong in these regions, even greater growth opportunities may be found in regions such as Latin America & the Caribbean, and Africa & theMiddle East.”
Global Markets For Alternative Solar Photovoltaic Technologies provides a detailed breakdown and analysis of the global markets for alternative solar technologies by geography, technology and application. This technical market research report also includes a review of the different technologies currently in commercial use; a review of early-stage technologies that are beginning to see transfer from research to commercialization; a sketch of the industry’s current structure, including competitive and regulatory analysis within this context; and major factors impelling and impeding global growth. It also defines how alternative solar technologies fit into the broader global solar PV market, the global renewable energies market, the global electric energy market, and the global energy market.
While this report contains a significant amount of technical information due to the inherent nature of the subject and thus provides information valuable to engineers and scientists, it is primarily aimed at business professionals in fields related to alternative solar technologies.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today’s major industrial and technology sectors, including emerging markets. For more than 40 years we’ve helped customers identify new market opportunities with accurate and reliable data and insight. These include market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology. Their up-to-date knowledge gives our customers unbiased measurements and assessments of these vital markets. Because our reports offer a global focus, our customers include the top companies in industries around the world as well as universities, major business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC.
For more on this report: BCC Research LLC