IMS Research Introduces ‘Global PV Demand Database’ Report

IMS Research has introduced its latest ‘Global PV Demand Database’ report that indicates that overall solar PV installations are likely to cross 120 GW capacity by the close of 2014. The report offers installation information for over 50 nations with forecast and historical data.

During 2011 and 2014, annual PV installations are likely to grow at a CAGR of over 20%. The report predicts that the share of EMEA of worldwide PV installations will decrease to 48% in 2014 from 79% in 2009, even as major markets in Europe stagnate and North American and Asian market growth accelerates.

Over the coming five years, the PV market of Asia is expected to grow at 45% CAGR, installing approximately 10 GW of novel capacity in the year 2014. Robust growth is expected in China and Japan by the year 2014, China is likely to be largest PV market in the world, installing much more than both Germany and the U.S. By the year 2015, a minimum of 25 nations are likely to install over 100 MW capacity per year. The United Kingdom is expected to be one among the rapidly growing markets in the world with over 1 GW of novel PV capacity installed over the next half decade.