22 August 2012
Posted in News - Industry News
Installations grew by more than 120 percent in the first half of this year and will help drive the global PV market to grow by at least 3 GW in 2012, according to the research firm.
Wellingborough, UK (22nd August 2012) – The Americas photovoltaics (PV) market more than doubled in the first half of 2012 to reach 1.7 Gigawatts (GW) and is set to reach almost 4.3 GW for the full year according to the Q3 PV Demand Report from IMS Research (recently acquired by IHS Inc. (NYSE: IHS)). Installations grew by more than 120 percent in the first half of this year and will help drive the global PV market to grow by at least 3 GW in 2012, according to the research firm.
The latest quarterly report from IMS Research revealed that, for the first time, global installations exceeded 13 GW in the first half of 2012, with the German and Americas markets leading growth. The Americas market was found to have grown by more than 120 percent to reach 1.7 GW in the first half of 2012, compared to just 750 MW in the same period last year. “Despite the lackluster financial performance of the industry’s suppliers, underlying demand was robust in the first six months of this year, with first half installations 35 percent up on 2011”, commented IMS Research PV Research Director Ash Sharma. “The Americas market, led by the USA was unseasonably strong in the first half and did not show any significant slowdown resulting from the anti-dumping duties.”
Aside from China, the report found that the USA would be the largest single contributor to global PV growth in 2012, accounting for 40 percent of new capacity growth. In contrast, the European market is predicted to shrink by almost 3 GW in 2012, despite the strong start to the year in Germany. “IMS Research remains optimistic about the potential for the US PV market, and we predict it will grow to at least 3.5 GW in 2012 and become the world’s third largest PV market. The longer-term outlook for this market is less certain, although the speed at which it is developing so far in 2012 provides some encouragement,” added Sharma.
Global demand is predicted to accelerate in the second half of 2012, despite the slowing of key European markets, Germany and Italy. IMS Research predicts installations will hit a new half-yearly record of almost 18 GW in the second half of 2012, driven by markets such as China and Japan, as well as the Americas. China recently approved 1.7 GW of Golden Sun projects which must be completed by the end of the year, whilst Japan’s new FiT became effective on 1st July and will help spark a surge in demand towards the end of 2012.
IMS Research Q3’12 PV Demand Report was published in August and contains forecasts and analysis for more than 50 of the most important PV markets.
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About ‘PV Demand Database – Quarterly’ report
IMS Research has developed a quarterly report providing regularly updated statistics and detailed forecasts for PV installations in 50 countries including 4-quarter and 5-year forecasts. It is published at least once a quarter and includes an Excel file containing the latest market data, an Executive Summary presentation highlighting the main market developments, as well as a PDF file which gives detailed analysis of the PV market in 21 main regions, including an assessment of current market drivers and policies affecting the PV market.
About IHS Inc. (www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today's business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS employs more than 6,000 people in more than 30 countries around the world.
About IMS Research (www.imsresearch.com)
IMS Research, recently acquired by IHS (NYSE: IHS), is a leading supplier of market research and consultancy to over 2500 clients worldwide, including most of the world’s largest technology companies. Established in the UK in 1989, IMS Research now has dedicated analyst teams focused on the factory automation, automotive, communications, computer, consumer, display, financial & ID, LED & lighting, medical, power & energy, solar PV, smart grid and security markets. Currently publishing over 350 different syndicated report titles each year, these in-depth publications are used by major electronics and industrial companies to assess market trends, solve marketing problems, and improve the efficiency of their businesses.