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


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

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