The global solar PV backsheet installed capacity has been increasing year by year, from 210.8 MW in 2001 to 5,701.8 MW in 2009, at a compound annual growth rate (CAGR) of 51%, according to a new report from GlobalData. Europe is the largest solar PV backsheet market in the world, accounting for 79.1% of the global backsheet installed capacity.
The global solar PV backsheet market is being driven by the increased financial incentives offered by the federal and state governments to the solar PV industry, the report says. The reduction in production costs, coupled with technological advances and government policies, has contributed the most to the expansion of the sector. This, along with the research and development initiatives taken up by various research institutes, has led to the growth in the installed capacity.
Against this backdrop, the global solar PV power backsheet installed capacity is expected to grow from 5,701.8 MW in 2009 to reach 14,299.9 MW by the end of 2015, at a CAGR of 16.6% for the period from 2009 to 2015.
Global solar PV backsheet market revenues increased from an estimated $460.3 million in 2008 to reach $498.7 million in 2009 – a year-over-year increase of 8.3%, the report adds. The high market growth for PV backsheets can be attributed to the maturing German market.
Though the country will continue to be the biggest market for PV backsheets market in years to come, with increasing backsheet revenues, its share of the global market will continue to fall with the emergence of new PV hotspots, GlobalData predicts. With emerging markets such as India, China, the Republic of Korea, Canada, the Czech Republic, Portugal, Greece and Bulgaria increasing their presence in the PV market, it is expected that the market will reach estimated revenues of $1,123.3 million by 2015 at a slower forecast CAGR of 18.4%.
The Asia-Pacific solar PV backsheet market was dominated by Japan, the Republic of Korea and China during the historical period from 2001 to 2009. The PV backsheet installed capacity increased from 108.52 MW in 2001 to 749.93 MW in 2009, at a CAGR of 27.33%.
The Asia-Pacific PV backsheet market is expected to grow until 2015 due to highly supportive governmental policies in key and emerging markets in the region, the report says. Asia-Pacific PV backsheets installed capacity is expected to reach to 3,766.21 MW by 2015, at a CAGR of 30.86% during 2009 to 2015.
For more information, visit www.globaldata.com.