Albany, NY -- (ReleaseWire) -- 10/09/2012 -- The advanced materials and devices for renewable energy market is projected to reach $31.8 billion by the 2016 with the compounded annual growth rate of 7.4%. This significant growth is expected as a result of depleting energy resources and increasing demand from growing population for satisfying energy related needs. Developed economies like Europe and America are the biggest consumers of this market as a result of upsurge advancements in technology and higher standard of living. European market is expected to reach $14.4 billion by the year 2016 with the compounded annual growth rate of 11.7%.
Read More: Advanced Materials And Devices For Renewable Energy Market
Currently, photovoltaic materials and devices account for the largest market share in America; however, wind energy is expected to lead the market with highest market share in upcoming years due to its higher efficiency and cost effectiveness. Solar cells are the best alternatives for production of electricity. Use of solar cells has increased to six times in recent years, making solar cells one of the fastest growing segments of this market. Generation of electricity from wind energy has also tripled to satisfy the increasing energy demands. Also, technological developments for manufacturing more efficient devices and decrease in costs of these devices are fuelling the growth of renewable energy market.
- Solar Photovoltaic
- Solar Thermal Collectors
- Small Hydropower
- Wind Energy
- Geothermal Energy
- Ocean Energy
This research report analyzes this market depending on its market segments and major geographies. Geographies analyzed under this research study are
- North America
- Asia Pacific
- Rest of the World
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This research report provides complete analysis of major market segments, current market trends, factors driving market growth, restraints, industry structure, and market projections for upcoming years. Report also provides analysis of technological improvements in this industry, Porter’s five force model analysis, and complete company profiles of top market players. It provides review of micro and macro factors significant for existing market players and new entrants along with detailed value chain analysis.
Some of the key players dominating this market are Antec Solar Energy Ag, The Boeing Company , BP Solar International LLC, Conergy AG Daystar Technologies Inc., Dow Corning Corp., Evergreen Solar, First Solar LLC, G24 Innovations Ltd., JX Crystals, Konarka Technologies Inc., Kyocera Solar Inc., Marine Current Turbines Ltd., Panasonic Electric Works Ltd, Nanosolar Inc., and others.
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