The Chinese solar battery market will total 65 gigawatts (GW) of installed capacity by 2018 — and possess an annual growth rate of ~14% between now and then — according to a new report from RnRMarketResearch.
The driver behind this growth — according to the new report, titled “Development Status and Investment Prospect of Global and China Solar Battery Industry, 2014-2018” — will be the ongoing large-scale adoption of solar photovoltaic (PV) technologies in the country.
The findings of the report aren’t particularly surprising, as China has long possessed a notable share of the total global market — growing faster than the market as a whole. For example, in 2013, China possessed a 28.86 GW chunk of the total global solar PV battery market of 36.5 GW — and back in 2009, the country possessed a 39.8% share of the total global market (with 4.38 GW of capacity).
This dominant role in the global market looks set to continue, according to most industry analysts — a viewpoint that RnRMarketResearch has clearly agreed with, based on its new report. With the country’s solar industry seemingly on the verge of breakout growth, that’s an easily defensible position. (The country’s new solar installation goals can somewhat attest to this — of course, the country had some issues in 2014 actually meeting its goals, so until the targets are achieved, they should be taken with a grain of salt.)
The full report goes into greater detail concerning the current and projected market size and demand level of China — as well as various aspects of expected market competition.
Image Credit: Public Domain
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