The global market for advanced materials and devices for renewable-energy systems was worth an estimated $11,636.8 million in 2009. The market is projected to grow to more than $16,900 million in 2014 at a compound annual growth rate (CAGR) of 7.8% from 2009 to 2014.
Small hydro and ocean energy sales will experience the highest compound annual growth rate (CAGR) over the forecast period of 193.6%. This sector is worth $1.1 million in 2009 and is expected to reach nearly $240.1 million in 2014.
The total market for Geothermal energy is projected to grow from $5.8 million in 2009 to $14 million in 2014, a compound annual growth rate (CAGR) of 19.3%. The two fastest-growing segments of the advanced materials and devices market are Solar energy (PV and thermal) and Small hydro and ocean energy.
Two and a half 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 rapidly. 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 bases 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.
SCOPE OF REPORT
The report focuses on the global market for advanced materials (e.g., polymers, elastomers, composites, high-temperature alloys, powder metals, thin films, and others) and devices (sensors and controllers, optics, etc.) used in the fabrication of the following types of renewable-energy systems:
Mini- and micro-hydro
The report does not cover biofuels or renewable-energy-storage technologies such as batteries and fuel cells in detail because they are covered in other recent BCC studies. The report format includes the following major elements:
Overall trends in renewable-energy systems
Advanced materials and devices with current or potential applications in renewable-energy systems
oSpecific renewable-energy applications
oProperties/advantages and disadvantages/competing materials or devices
Market size, segmentation and growth trends
oMarket Projections, 2009-2014
oNumber and size of firms
INFORMATION SOURCES AND METHODOLOGY
The findings and conclusions of this report are based on information gathered from renewable-energy products manufacturers, advanced materials and devices vendors and renewable energy-related organizations. Interview data were combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature, and online databases to produce the baseline market estimates contained in this report.
The methodologies and assumptions used to develop the market projections in this report are discussed at length in the section on Detailed Market Estimates and Projections. The report carefully documents data sources and assumptions. This way, readers can see how the market estimates were developed and, if they so desire, test the impact on the final numbers of changing assumptions such as price.
Andrew McWilliams, the author of this report, is a partner in the Boston-based international technology and marketing consulting firm, 43rd Parallel, LLC. He is the author of numerous other BCC Research business opportunity analyses, including the predecessor to this report, (EGY053A Advanced Materials and Devices for Renewable Energy Systems) and several other reports in the areas of energy and advanced materials including EGY051A Petroleum Fuel Optimization Technologies, EGY055A Building the Global Hydrogen Economy: Technologies and Opportunities, EGY065A Enabling Technologies for the Smart Grid, ENV007A The U.S. Market for Green Building Materials, CHM020C Catalysts for Environmental and Energy Applications, and NAN044A Nanotechnology in Energy Applications.
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The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.
Published - Feb-2007|
Analyst - Andrew McWilliams|
Code - EGY053A
The total global market for advanced materials and devices for renewable energy systems was worth almost $2.4 billion by the end of 2006. Growing at a compound annual growth rate (CAGR) of 25.8%, the market will be worth almost $7.5 billion by 2011.
Solar photovoltaic devices hold the highest share of the market throughout the forecast period, worth $1.2 billion in 2006-55.1% of the total global market. By the end of 2011 they will be worth more than $4.9 billion, a CAGR of 28.1% and a 56.3% share of the market.
Ocean energy had the highest growth rate through the forecast period, reaching $360 million in 2011, a CAGR of 66.5%.
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