- The global market for advanced materials and devices used in renewable energy systems was $18.2 billion in 2010; it is projected to approach $22.3 billion in 2011 and it will further grow to $31.8 billion in 2016 increasing at a compound annual growth rate (CAGR) of 7.4%.
- In 2010, emerging market countries consumed $876 million worth of advanced materials and devices used in the production of renewable energy systems. The market is projected to grow to $925 million in 2011 and nearly $1.3 billion in 2016, a CAGR of 6.9% over the next 5 years.
- Photovoltaic materials and devices accounted for nearly 96% of the market in other countries. PV’s share of other countries is projected to decline to 91% by 2016.
Two years have passed since BCC published its last report on the global market for advanced materials and devices used in renewable-energy systems. Since then, the global market for renewable energy has continued to grow and evolve. BCC therefore considers it important to update the earlier report’s findings and conclusions about the size and structure of this important market.
STUDY GOALS AND OBJECTIVES
The overall goal of this study is to identify and quantify the market for advanced material and device technologies used in renewable-energy systems. Specific objectives include the following:
- Identifying advanced materials and devices that are used in renewable-energy systems
- Analyzing and predicting trends in the most likely application(s) for each of these materials and devices, as the basis for developing baseline estimates of the renewable-energy-related market for advanced materials and devices
- Pinpointing new materials and devices that are likely to be introduced into renewable-energy systems in the next 5 years and their expected market impacts
- Drawing attention to manufacturers of renewable-energy systems and associated advanced materials and devices that are most likely to benefit from the trends identified above
This report is a business opportunity report intended especially for developers and vendors of advanced materials and devices that target the renewable-energy systems market. It should also be useful to vendors of renewable-energy systems interested in understanding where the market is headed with respect to advanced enabling technologies.
Other readers who will find the report’s findings and conclusions informative include:
- Members of renewable-energy trade, professional, and advocacy organizations
- Officials of government agencies and multinational organizations responsible for optimizing energy consumption and promoting the use of renewable energies
While the report is oriented to the interests and concerns of a nontechnical audience, it contains a great deal of technical information that should also be of interest to scientists and engineers working in the renewable-energy field.
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