Global Photovoltaic (PV) Market & Insights into Chinese & Japanese Photovoltaic (PV) Markets (2010 – 2015)

Date: November 22, 2011
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Global Photovoltaic (PV) Market & Insights into Chinese & Japanese Photovoltaic (PV) Markets (2010 – 2015)
The PV market is observed to be one of the fastest growing sectors buoyed by different government incentives and intense R&D activities. PV technology is emerging as the major technology for generation of power in the world; which is evident from the continuous growth witnessed in the last decade. In order to spur adoption, there was also introduction of several subsidy programs in Germany and Japan such as New National Energy Strategy for 2030 by the Ministry of Economy, Trade and Industry (METI), Japan, Cool Earth 50 to reduce global carbon dioxide emissions, Renewable Energy Sources Act (EEG) of 2000 introduced in Germany.

Amongst the different materials used in the manufacture of PV cells, amorphous silicon is observed to generate maximum revenue. This is mainly due to its low temperature coefficient and low power loss. Trackers help to increase the solar array’s efficiency by up to 40% and hence there are innovations centered on enhancement of designs with improved reliability.

The key applications of PV systems include consumer electronics and telecommunications, building integrated PV applications, grid connected power supply, military and space applications, and others. BIPV application contributes maximum towards the growth of PV systems market amongst all the applications. This is mainly due to the gradual adoption of this technology in industrial, commercial, and residential buildings. The other applications of PV system include water pumping, automotive, commercial lighting, and more.

The Chinese PV market is largely driven by the growing demand for energy and the huge volume of export market. It is expected that the government of China will continue with its small scale and targeted incentive programs in order to achieve bigger strides in the development of renewable energy.

Federal policies drove the expansion of PV market in Japanese region. The country’s new national solar goals include 28,000 MW of new solar capacity by 2020 and 53,000 MW by 2030. The key motivations behind such aggressive targets include regaining of world market leadership, addressing of global environmental goals of reducing greenhouse gas (GHG) emissions, and increasing the level of energy independence.

The study of export import trade in Chinese and Japanese PV markets for the HS code 854140 reveals that there are no technical barriers to trade in Japan. Some of the non-tariff barriers to trade include inadequate workforce skills and training, lack of adaptability to conventional systems/arrangements, and imperfect capital markets. The design standards and specifications defined for solar panels by World Trade Organization (WTO) and Technical Barriers to Trade (TBT) agreement are expected to enhance the penetration as well as adoption levels.

The global photovoltaic market is expected to reach $130.0 billion in 2015 from $55.7 billion in 2010 at a CAGR of 18.5% from 2010 to 2015. The companies in Japan and China largely adopt strategies such as R&D agreement with universities, acquisition of certifications, expansion of production facilities, and undertaking of installation projects in order to achieve tremendous growth in the market.

Scope of the report

This research report categorizes the global photovoltaic market on the basis of different types of PV systems, different components used in PV systems, uses of these in various applications and geographical analysis, forecasting revenue, and analyzing trends in the market.

On the basis of types

The PV market by types is segmented into thin film PV market, concentrated PV market, and solar PV market. The market trend for these types is discussed.

On the basis of components

The component market is segmented into cells, modules, optics, and trackers. The cells are further classified into crystalline silicon PV cells and thin film PV cells. The thin film PV cells are further classified into amorphous silicon thin film PV cells, cadmium telluride (CdTe) thin film PV cells, copper indium gallium selenide (CIGS) thin film PV cells, and others (cells based on OPV, DSSC). The market trend for these products is discussed.

On the basis of application

The application market is segmented into consumer electronics and telecommunications, grid connected power supply, building integrated photovoltaic applications, military and space applications, and others. The market trend for these applications is discussed.

On the basis of geography
  • North America
  • Europe
  • Asia
  • ROW

Each section will provide market data, market drivers, trends and opportunities, key players, and competitive outlook. This report will also provide market tables for covering the sub-segments and micro-markets. In addition, the report also provides more than 20 company profiles covering all the sub-segments.
1 INTRODUCTION

1.1 KEY TAKE-AWAYS
1.2 REPORT DESCRIPTION
1.3 MARKETS COVERED
1.4 STAKEHOLDERS
1.5 RESEARCH METHODOLOGY
  1.5.1 MARKET SIZE
  1.5.2 KEY DATA POINTS FROM SECONDARY SOURCES
  1.5.3 KEY DATA POINTS FROM PRIMARY SOURCES
  1.5.4 ASSUMPTIONS
  1.5.5 LIST OF COMPANIES COVERED DURING PRIMARIES

2 EXECUTIVE SUMMARY

3 GLOBAL PV MARKET OVERVIEW

3.1 EVOLUTION OF PHOTOVOLTAIC MARKET
3.2 MARKET DYNAMICS
  3.2.1 DRIVERS
    3.2.1.1 Government policies & other initiatives
    3.2.1.2 Increasing willingness for adoption of energy efficient measures
  3.2.2 RESTRAINTS
    3.2.2.1 Intense competition
    3.2.2.2 High cost
    3.2.2.3 Low technology awareness
    3.2.2.4 Limited number of certified installers
  3.2.3 OPPORTUNITIES
    3.2.3.1 Rural electrification
    3.2.3.2 Market for dye sensitized solar cells (DSSCs)
3.3 BURNING ISSUES
  3.3.1 MANUFACTURING CHALLENGES
  3.3.2 MATERIAL CHALLENGES
  3.3.3 CHANGE IN GOVERNMENT POLICIES
3.4 WINNING IMPERATIVES
  3.4.1 MOVING OF PRODUCTION PROCESS TO ASIA
  3.4.2 INCREASING GOVERNMENT SUPPORT
3.5 PRICING TRENDS
  3.5.1 TREND ANALYSIS
    3.5.1.1 PV system size
    3.5.1.2 PV system components cost
    3.5.1.3 Indirect project costs
3.6 MARKET SHARE ANALYSIS

4 CHINESE PV MARKET OVERVIEW

4.1 CHINESE PV MARKET SCENARIO
  4.1.1 DRIVERS
    4.1.1.1 Demand for energy
    4.1.1.2 Huge volume of export market
  4.1.2 RESTRAINT
    4.1.2.1 Quality of installation
4.2 SUNTECH ERA

5 JAPANESE PV MARKET OVERVIEW

5.1 JAPANESE PV MARKET SCENARIO
  5.1.1 DRIVERS
    5.1.1.1 Government initiatives
    5.1.1.2 Closure of nuclear plants
  5.1.2 RESTRAINT
    5.1.2.1 Rise of Chinese suppliers
5.2 ANALYSIS OF JAPANESE MARKET, BY VOLUME
5.3 ANALYSIS OF JAPANESE MARKET, BY INSTALLATION
5.4 MARKET PENETRATION STRATEGY IN JAPANESE MARKET
  5.4.1 EFFICIENT DISTRIBUTION INFRASTRUCTURE
  5.4.2 ESTABLISHMENT OF SUBSIDIARIES
5.5 JAPANESE PATENT ANALYSIS

6 PV MARKET, BY TYPES

6.1 THIN FILM PV MARKET
  6.1.1 DRIVERS
    6.1.1.1 ULow cost of production
    6.1.1.2 UShorter energy payback time
  6.1.2 RESTRAINTS
    6.1.2.1 Recycling & disposal issue
    6.1.2.2 Higher efficiency of multi-junction PV cells
6.2 CONCENTRATED PV MARKET
  6.2.1 DRIVERS
    6.2.1.1 UHigh efficiency
    6.2.1.2 Ease-of-manufacturability
  6.2.2 RESTRAINTS
    6.2.2.1 Requirement of a precise tracking & cooling mechanism
    6.2.2.2 System complexity & risks
6.3 SOLAR PV MARKET
  6.3.1 DRIVER
    6.3.1.1 Small scale applications
  6.3.2 RESTRAINT
    6.3.2.1 Cumbersome certification process

7 PV COMPONENTS MARKET

7.1 CELLS
  7.1.1 CRYSTALLINE SILICON PV CELLS
    7.1.1.1 Monocrystalline silicon PV cells
    7.1.1.2 Multicrystalline silicon PV cells
  7.1.2 THIN FILM PV CELLS
    7.1.2.1 Amorphous silicon (a-Si) thin film PV cells
      7.1.2.1.1 Drivers
        7.1.2.1.1.1 Low temperature coefficient & low power loss
        7.1.2.1.1.2 Low cost
      7.1.2.1.2 Restraint
        7.1.2.1.2.1 Low conversion efficiency
      7.1.2.1.3 Opportunity
        7.1.2.1.3.1 Opportunity for new materials in a-Si
    7.1.2.2 Cadmium telluride (CdTe) thin film PV cells
      7.1.2.2.1 Drivers
        7.1.2.2.1.1 Higher efficiency than a-Si
        7.1.2.2.1.2 Abundant availability of cadmium
      7.1.2.2.2 Restraint
        7.1.2.2.2.1 Toxic nature
      7.1.2.2.3 Opportunity
        7.1.2.2.3.1 Increased R&D to enhance the efficiency
    7.1.2.3 UCopper indium (gallium) diselenide (CIS or CIGS) thin film PV cells
      7.1.2.3.1 Drivers
        7.1.2.3.1.1 High efficiency
        7.1.2.3.1.2 High versatility & flexibility
      7.1.2.3.2 Restraint
        7.1.2.3.2.1 High cost
      7.1.2.3.3 Opportunity
        7.1.2.3.3.1 Reduction in thickness of absorbing material
    7.1.2.4 UOther thin film PV cells
7.2 MODULES
7.3 OPTICS
7.4 TRACKERS
  7.4.1 DRIVERS
    7.4.1.1 Increase in energy output
    7.4.1.2 Technological innovations
    7.4.1.3 Cost-effective solution
  7.4.2 RESTRAINT
    7.4.2.1 Need for huge land area
  7.4.3 OPPORTUNITY
    7.4.3.1 Large project pipeline for CPV and CSP markets

8 EXPORT IMPORT TRADE ANALYSIS – CHINESE & JAPANESE PV MARKETS

8.1 IMPORT FROM JAPAN HS: 854140 FROM 2001 TO 2011
8.2 EXPORT TO JAPAN HS: 854140 FROM 2001 TO 2011
  8.2.1 ANALYSIS BY VOLUMES OF EXPORT TO JAPAN
  8.2.2 ANALYSIS OF TARIFF & CVD IN JAPAN
  8.2.3 ANALYSIS OF TECHNICAL BARRIERS TO TRADE
    8.2.3.1 Reduction of greenhouse gas (GHG) emissions
    8.2.3.2 Battery recycling
  8.2.4 ANALYSIS OF NON TARIFF BARRIERS
    8.2.4.1 Lack of government policy support & standards
    8.2.4.2 Lack of stakeholder/community participation & co-operation in energy choices & renewable energy projects
    8.2.4.3 Inadequate workforce skills & training
    8.2.4.4 Imperfect capital markets
    8.2.4.5 Lack of adaptability to conventional systems/arrangements
8.3 WTO NORMS FOR PHOTOVOLTAIC TRADE
  8.3.1 EFFECTIVENESS OF TBT AGREEMENT
  8.3.2 DESIGN REQUIREMENTS & STANDARDS FOR SOLAR PANELS

9 PV APPLICATIONS MARKET

9.1 CONSUMER ELECTRONICS & TELCOMMUNICATIONS
9.2 BUILDING INTEGRATED PV CELL APPLICATIONS
9.3 GRID CONNECTED POWER SUPPLY APPLICATIONS
9.4 MILITARY & SPACE APPLICATIONS
9.5 OTHER APPLICATIONS

10 COMPETITIVE LANDSCAPE – CHINESE & JAPANESE MARKETS

10.1 MARKET GROWTH STRATEGIES

11 JAPANESE PHOTOVOLTAIC – COMPANY PROFILES

11.1 FUJI ELECTRIC HOLDINGS CO LTD
  11.1.1 OVERVIEW
  11.1.2 PRODUCTS & SERVICES
  11.1.3 FINANCIALS
  11.1.4 STRATEGY
  11.1.5 DEVELOPMENTS
11.2 HONDA SOLTEC CO. LTD
  11.2.1 OVERVIEW
  11.2.2 PRODUCTS & SERVICES
  11.2.3 FINANCIALS
  11.2.4 STRATEGY
  11.2.5 DEVELOPMENTS
11.3 KANEKA CORPORATION
  11.3.1 OVERVIEW
  11.3.2 PRODUCTS & SERVICES
  11.3.3 FINANCIALS
  11.3.4 STRATEGY
  11.3.5 DEVELOPMENTS
11.4 KYOCERA CORPORATION
  11.4.1 OVERVIEW
  11.4.2 PRODUCTS & SERVICES
  11.4.3 FINANCIALS
  11.4.4 STRATEGY
  11.4.5 DEVELOPMENTS
11.5 MITSUBISHI ELECTRIC CORPORATION
  11.5.1 OVERVIEW
  11.5.2 PRODUCTS & SERVICES
  11.5.3 FINANCIALS
  11.5.4 STRATEGY
  11.5.5 DEVELOPMENTS
11.6 MITSUBISHI HEAVY INDUSTRIES LTD
  11.6.1 OVERVIEW
  11.6.2 PRODUCTS & SERVICES
  11.6.3 FINANCIALS
  11.6.4 STRATEGY
  11.6.5 DEVELOPMENTS
11.7 PANASONIC CORPORATION
  11.7.1 OVERVIEW
  11.7.2 PRODUCTS & SERVICES
  11.7.3 FINANCIALS
  11.7.4 STRATEGY
  11.7.5 DEVELOPMENTS
11.8 SHARP CORPORATION
  11.8.1 OVERVIEW
  11.8.2 PRODUCTS & SERVICES
  11.8.3 FINANCIALS
  11.8.4 STRATEGY
  11.8.5 DEVELOPMENTS

12 CHINESE PHOTOVOLTAIC – COMPANY PROFILES

12.1 ASTRONERGY
  12.1.1 OVERVIEW
  12.1.2 PRODUCTS & SERVICES
  12.1.3 FINANCIALS
  12.1.4 STRATEGY
  12.1.5 DEVELOPMENTS
12.2 CSUN
  12.2.1 OVERVIEW
  12.2.2 PRODUCTS & SERVICES
  12.2.3 FINANCIALS
  12.2.4 STRATEGY
  12.2.5 DEVELOPMENTS
12.3 HANWHA SOLARONE LTD
  12.3.1 OVERVIEW
  12.3.2 PRODUCTS & SERVICES
  12.3.3 FINANCIALS
  12.3.4 STRATEGY
  12.3.5 DEVELOPMENTS
12.4 JA SOLAR CO. LTD
  12.4.1 OVERVIEW
  12.4.2 PRODUCTS & SERVICES
  12.4.3 FINANCIALS
  12.4.4 STRATEGY
  12.4.5 DEVELOPMENTS
12.5 RENESOLA CO. LTD
  12.5.1 OVERVIEW
  12.5.2 PRODUCTS & SERVICES
  12.5.3 FINANCIALS
  12.5.4 STRATEGY
  12.5.5 DEVELOPMENTS
12.6 SHANGHAI SOLARYOUTH NEW ENERGY TECHNOLOGY CO. LTD
  12.6.1 OVERVIEW
  12.6.2 PRODUCTS & SERVICES
  12.6.3 FINANCIALS
  12.6.4 STRATEGY
  12.6.5 DEVELOPMENTS
12.7 SUNTECH POWER HOLDINGS CO. LTD
  12.7.1 OVERVIEW
  12.7.2 PRODUCTS & SERVICES
  12.7.3 FINANCIALS
  12.7.4 STRATEGY
  12.7.5 DEVELOPMENTS
12.8 SUNTRIX
  12.8.1 OVERVIEW
  12.8.2 PRODUCTS & SERVICES
  12.8.3 FINANCIALS
  12.8.4 STRATEGY
  12.8.5 DEVELOPMENTS
12.9 TRINA SOLAR
  12.9.1 OVERVIEW
  12.9.2 PRODUCTS & SERVICES
  12.9.3 FINANCIALS
  12.9.4 STRATEGY
  12.9.5 DEVELOPMENTS
12.10 YUNNAN TIANDA PHOTOVOLTAIC CO. LTD
  12.10.1 OVERVIEW
  12.10.2 PRODUCTS & SERVICES
  12.10.3 FINANCIALS
  12.10.4 STRATEGY
  12.10.5 DEVELOPMENTS

APPENDIX

LIST OF TABLES

TABLE 1 THIN FILM PV MARKET ENGINEERING PARAMETERS
TABLE 2 PHOTOVOLTAIC MARKET REVENUE, BY GEOGRAPHY, 2009 – 2015 ($BILLION)
TABLE 3 PHOTOVOLTAIC MARKET INSTALLATION CAPACITY, BY GEOGRAPHY, 2009 – 2015 (MW)
TABLE 4 COST ANALYSIS
TABLE 5 NORTH AMERICA: PV MARKET INSTALLATION CAPACITY, 2009 – 2015 (MW)
TABLE 6 EUROPE: PV MARKET INSTALLATION CAPACITY, 2009 – 2015 (MW)
TABLE 7 ASIA: PV MARKET INSTALLATION CAPACITY, 2009 – 2015 (MW)
TABLE 8 STRATEGIES ADOPTED BY SUNTECH
TABLE 9 GLOBAL THINFILM PV MARKET REVENUE, BY TYPES, 2009 – 2015 ($BILLION)
TABLE 10 GLOBAL CONCENTRATED PHOTOVOLTAIC MARKET REVENUE, BY TYPES, 2009 – 2015 ($THOUSAND)
TABLE 11 COMPARATIVE STUDY OF FEATURES OF DIFFERENT CPV TECHNOLOGIES
TABLE 12 GLOBAL SOLAR PHOTOVOLTAIC MARKET REVENUE, BY TYPES, 2009 – 2015 ($MILLION)
TABLE 13 CRYSTALLINE SILICON PV CELLS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2015 ($MILLION)
TABLE 14 THIN-FILM PV CELLS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2015 ($MILLION)
TABLE 15 AMORPHOUS SILICON PV CELLS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2015 ($MILLION)
TABLE 16 CDTE PV CELLS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2015 ($MILLION)
TABLE 17 CIS/CIGS PV CELLS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2015 ($MILLION)
TABLE 18 OTHER THIN FILM PV CELLS MARKET REVENUE, BY GEOGRAPHY, 2009 – 2015 ($MILLION)
TABLE 19 OPTICAL SOLUTION PROVIDERS & THEIR BASIC DESIGN
TABLE 20 INDUSTRY COLLABORATIONS RELATED TO CPV TECHNOLOGY & OPTICS
TABLE 21 MERGERS & ACQUISITIONS, 2009 – 2010
TABLE 22 COLLABORATIONS/PARTNERSHIPS/AGREEMENTS/ JOINT VENTURES, 2009 – 2011
TABLE 23 NEW PRODUCTS, 2009 – 2011

LIST OF FIGURES

FIGURE 1 EVOLUTION OF PHOTOVOLTAIC MARKET – KEY DEVELOPMENTS
FIGURE 2 PV MARKET DRIVERS – IMPACT ASSESSMENT
FIGURE 3 PV MARKET RESTRAINTS – IMPACT ASSESSMENT
FIGURE 4 PV SYSTEM PRICES VS SYSTEM SIZE
FIGURE 5 PV SYSTEM PRICE MODEL
FIGURE 6 GLOBAL PV MARKET SHARE, 2010
FIGURE 7 GLOBAL PV MARKET SHARE, 2015
FIGURE 8 MARKET SHARE ANALYSIS OF KEY PLAYERS IN AMORPHOUS SILICON MARKET, 2010
FIGURE 9 MARKET SHARE ANALYSIS OF KEY PLAYERS IN CDTE MARKET, 2010
FIGURE 10 MARKET SHARE ANALYSIS OF KEY PLAYERS IN CIGS MARKET, 2010
FIGURE 11 CHINESE PV MARKET – DRIVERS & RESTRAINT
FIGURE 12 CHINESE PV MARKET DRIVERS – IMPACT ASSESSMENT
FIGURE 13 CHINESE PV MARKET RESTRAINT – IMPACT ASSESSMENT
FIGURE 14 JAPANESE PV MARKET – DRIVERS & RESTRAINT
FIGURE 15 JAPANESE PV MARKET DRIVERS – IMPACT ASSESSMENT
FIGURE 16 JAPANESE PV MARKET RESTRAINT – IMPACT ASSESSMENT
FIGURE 17 JAPANESE PV MARKET SHARE BASED ON APPLICATION SECTORS, 2010
FIGURE 18 JAPANESE PV MARKET SHARE BASED ON APPLICATION SECTORS, 2015
FIGURE 19 SEGMENTATION OF JAPANESE PV PATENTS, BY TYPES
FIGURE 20 SEGMENTATION OF JAPANESE PV PATENTS, BY KEY PLAYERS
FIGURE 21 SEGMENTATION OF JAPANESE PV PATENTS, BY KEY COMPONENTS
FIGURE 22 PORTER’S FIVE FORCES ANALYSIS – THIN FILM PV MARKET
FIGURE 23 GEOGRAPHIC SEGMENTATION OF THIN FILM PV PATENTS
FIGURE 24 ENERGY PAYBACK TIME IN YEARS
FIGURE 25 MARKET FORCES ANALYSIS FOR CPV
FIGURE 26 CLASSIFICATION OF CPV TECHNOLOGY
FIGURE 27 GEOGRAPHIC SEGMENTATION OF CPV PATENTS, 2004 – 2009
FIGURE 28 GEOGRAPHIC SEGMENTATION OF SOLAR PV PATENTS, 2004 – 2009
FIGURE 29 MARKET SHARE OF THIN FILM PV MODULES, 2010 & 2015
FIGURE 30 CLASSIFICATION OF SOLAR TRACKERS
FIGURE 31 COMPARATIVE STUDY OF TRACKERS
FIGURE 32 UNITS IMPORTED FROM JAPAN INTO CHINA, 2001 – 2011
FIGURE 33 UNITS EXPORTED TO JAPAN FROM CHINA, 2001 – 2011
FIGURE 34 UNITS EXPORTED TO JAPAN FROM CHINA, 2001 – 2009
FIGURE 35 NUMBER OF TBT NOTIFICATIONS TO THE WTO, 1995 – 2010
FIGURE 36 NUMBER OF SPECIFIC TRADE CONCERNS RAISED PER YEAR IN THE TBT COMMITTEE, 1995 – 2010
FIGURE 37 ADOPTION LEVEL OF THIN FILM PV CELLS IN DIFFERENT APPLICATIONS
FIGURE 38 ADOPTION LEVEL OF CPV TECHNOLOGY IN DIFFERENT APPLICATIONS (FUTURE SCENARIO – ~5 YEARS)
FIGURE 39 KEY GROWTH STRATEGIES – JAPANESE PV MARKET, 2010
FIGURE 40 KEY GROWTH STRATEGIES – CHINESE PV MARKET, 2010
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