Market Size Update 2011: Putting the Rest of World on the Map of Global Solar Demand

July 25, 2011 | State of the Market Report

The global solar market will climb from 15.8 GW in 2010 to 37.5 GW in 2016 for $65.4 billion, a compound annual growth rate of 15.5%. This is lower than the industry’s past history of 30%+ annual growth rates and speaks to its maturity and move away from subsidies as a driver of growth. However, steep system price declines through 2012 outpace volume increases, and the industry actually shrinks on a revenue basis from $64.4 billion in 2010 to $56.9 billion in 2012 before recovering to $65.4 billion in 2016 and continuing to rise as more geographies reach grid parity.

Coverage Areas

  • Next Generation Power
  • Owning the Energy Transition

Table of Contents

  • Executive Summary
  • Landscape
    As Germany enters secular decline and debt-ridden European governments limit subsidies, the industry desperately needs to locate new markets to forestall a shakeout.
  • Analysis
    As demand shifts to Asia and North America, the solar market grows to $65 billion across 37.5 GW in 2016 – but revenues stay flat medium term as ASP declines outpace volume growth.
  • Outlook
  • Appendix
  • Endnotes

Contributors

Matthew Feinstein
Pallavi Madakasira
Aditya Ranade, Ph.D., M.B.A.
Nadia Suryana

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory solutions, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make more informed decisions today to ensure future success.

Already a Lux Client?

Sign In

Interested in Learning More?

Contact us to learn the benefits of becoming a Lux member.

Or call us now

For North America (Boston Headquarters)
+1 (617) 502-5300

For EMEA (Amsterdam)
+31 20 280 7900

For APAC (Singapore)
+65 6592-6978