The World's #1 Renewable Energy Network for News, Information, and Companies.

Playing Catch-Up: Emerging Markets Outpacing Developed Regions

Recent findings in two NPD Solarbuzz reports, covering the Middle East & Africa and Emerging Asia-Pacific & Central Asia, indicate that both of these areas are set for considerable growth in 2013 with annual demand projected to hit 1 GW in each region.

Find the reports here: Middle East & Africa and Emerging Asia-Pacific & Central Asia.

While this represents tremendous growth, especially compared to softer growth in European markets, these emerging regions still have some way to go to catch-up annual demand volumes and match legacy markets in terms of driving global PV demand.

However, this process is beginning to occur as higher growth rates in emerging regions are rapidly closing the demand-share gap with legacy markets. The figure shows comparative Y/Y annual growth rates between the Western/Japanese (W/J) markets (with the Western grouping encompassing Europe, the US, and Canada) and the Emerging markets (all other global markets). While some of the countries included in Emerging in this analysis are now major drivers of end-market demand (for example, China and India) it has only been in the last few years that these countries have begun to rival legacy markets such as Germany, Japan, and the US.

This is highlighted via the market share data presented, which clearly shows that up until 2011, the W/J grouping accounted for over 90 percent of global demand every year. This was because during the 2007-2011 period, global end-market demand was growing by strong double-digits globally. Therefore, developed markets maintained their dominance in terms of driving demand. 2011 was the year this began to change as policy changes — particularly in Europe — slowed growth in the overall W/J region while lower prices and positive policy environments in the Emerging region (in this case driven by China) caused Y/Y growth rates to rise to almost 300 percent and emerging regions began to gain demand share.

As presented in the new NPD Solarbuzz Marketbuzz report, global Y/Y growth in 2012 fell to single-digits as stronger growth in Emerging regions could not compensate for the annual demand decline in the W/J grouping during the year. While legacy markets overall are still expected to decrease in 2013 — primarily a result of European declines — global growth is anticipated to increase as Emerging market growth increases. In the long-term, a return to double-digit growth rates is anticipated for both major groupings as low installed system prices are driving end-market expansion in new regions and making PV installations attractive in legacy markets even with policy reductions.

Figure 1: Emerging v. Developed Markets Comparative Growth/Share

Source: Adapted from NPD Solarbuzz Marketbuzz

This article was originally published on Solarbuzz and was republished with permission.

RELATED ARTICLES

Renewable energy jobs

Global Renewable Energy Employment Surges 18 Percent to 7.7 Million

Andrew Burger, Correspondent Ongoing growth in renewable energy investment and deployment is creating jobs worldwide — and lots of them. This job growth is helping governments address a fundamental economic problem plaguing developed and developing cou...
Beach sand

Italian Company Uses Sun-Heated Sand to Produce Energy

Flavia Rotondi and Alessandra Migliaccio, Bloomberg

Italy’s well-known sun and sand form the basis of many beach holidays. An Italian company has also found another purpose for the combination: energy production.

Panasonic Japan solar module manufacturing

Panasonic Ramps Up Japanese Solar Manufacturing to Meet Domestic Rooftop Demand

Junko Movellan, Correspondent Panasonic Corp, a Japanese electronics company, announced that it will expand its domestic solar cell and module production to meet the rooftop solar demand in Japan. The company will invest a total of 9.5 billion yen (US$7...

Renewable Energy Is Beginning To Power Africa

Andrew Burger, Contributor According to the International Energy Agency, sub-Saharan Africa will require more than $300 billion in investment to achieve universal electricity access by 2030. Committing more than $7 billion in U.S. government support ...
Michael Barker monitors the status of the global PV industry supply/demand balance and watches related emerging trends. His responsibilities include the Solarbuzz Quarterly and Marketbuzz reports. Barker is also a regular contributor to leading PV...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 3
1505REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

EU PVSEC 2015 (European PV Solar Energy Conference and Exhibition)

The EU PVSEC is the largest international Conference for Photovoltaic re...

Sponsor/Exhibitor: MIREC Week 2015

Solectria, Pillar, and Variadores together are co-Silver Sponsors! Come ...

More Power, More Profit Tour - San Diego

Register for the SMA More Power, More Profit Tour for free, in-person sa...

COMPANY BLOGS

Can We Just Allow Florida To Be The Sunshine State?

We attended Solar Power Southeast, a regional solar show put on by&...

The Outlook for Midwest Solar

Our whirlwind solar conference tour continues! Yesterday we touched down...

Well, Hello There Southeast — We Are Excited To Be Here

We’ve traveled 651 miles into the heart of the Deep South to atten...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS