Global Solar Photovoltaic Demand Forecast To Reach 20.4 GW in 2011; Growth Rate Drops to 25%
16-Dec-2010 | News-Press Release
Global photovoltaic demand was 4.0 GW in Q3’10 up 107% on one year earlier, according to Solarbuzz®, an international solar energy market research and consulting company. Total industry revenues for the quarter were $17.9 billion, up 74% on the same quarter last year.
Figure 1: End-Market Revenues
Source: Solarbuzz Quarterly
According to the Solarbuzz Quarterly report, 10.6 GW of photovoltaics were installed in the first nine months of 2010, charting a course for a record year. As a result, Solarbuzz has increased its 2010 forecast to 16.3 GW for 2010, an outcome that would represent 117% growth on 2009.
In its latest Solarbuzz Quarterly report, Solarbuzz also reported Chinese manufacturers accounted for 51% of global shipments in Q3’10, up from 47% in the same quarter one year earlier. Chinese and Taiwanese manufacturers took 8 out of the top 12 cell manufacturer positions.
China-based JA Solar captured the lead in solar cell shipments with an 8% market share in Q3’10, with Suntech Power and First Solar taking second and third positions, respectively.
Figure 2: Q3’10 Top Twelve Solar Cell Manufacturers by Shipments (MW)
Source: Solarbuzz Quarterly
Looking ahead, Solarbuzz forecasts a global PV market of 20.4 GW in 2011, as policy changes in Germany and Czech Republic take effect at the beginning of 2011. These will dramatically slow the industry’s growth rate next year.
“The large price reductions of 2009 created the platform for spectacular growth in 2010,” noted Craig Stevens, President of Solarbuzz. “However, manufacturers plan strong capacity and shipment growth in 2011. This will encourage prices to drop, but they will need to fall further than incentive tariffs in key world markets to maintain strong growth next year.”
The latest data-driven Solarbuzz Quarterly report brings together a comprehensive analysis of industry production, shipments, inventory, market demand and the total price picture. The report also includes corporate data for leading company quarterly cell production and company data through the PV chain with financial indicators. For more information or to order Solarbuzz regional reports, contact us at our seven global locations, email us at email@example.com, or call 1.516.625.2452.
Solarbuzz, part of The NPD Group, is a globally recognized market research business focused on solar energy and photovoltaic industries. Since 2001, Solarbuzz has grown its client-base to include many of the largest global PV manufacturers, major investment banks, equipment manufacturers, materials suppliers, hedge fund companies, and a vast range of other multi-nationals. Solarbuzz offers a wide array of reports, including Marketbuzz®, an annual global PV industry report, and Solarbuzz Quarterly, which details both historical and forecast data on the global PVsupply chain. The company’s research also provides annual downstream PV market reports by region for Europe, Asia Pacific and US markets. In addition, Solarbuzz.com is a recognized and respected online resource within the solar industry. For more information, visit www.solarbuzz.com/About or follow us on Twitter at @Solarbuzz.
About The NPD Group, Inc.
The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,800 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, commercial technology, consumer technology, entertainment, fashion, food and beverage, foodservice, home, office supplies, software, sports, toys, and wireless. For more information, contact us or visit http://www.npd.com/ and http://www.npdgroupblog.com/. Follow us on Twitter at @npdtech and @npdgroup.
Solarbuzz and Marketbuzz are registered trademarks of The NPD Group.
SAVVY Public Relations
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