Advanced Materials and Devices for Renewable Energy
- 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.
- 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.
- 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.
- Solar photovoltaic
- Solar thermal
- Mini- and micro-hydro
- Executive summary
- Overall trends in renewable-energy systems
- Advanced materials and devices with current or potential applications in renewable-energy systems
- Market size, segmentation and growth trends
- Industry analysis
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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%.