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Non-residential applications of Solar PV are likely to grow at a CAGR higher than 19 % from 2013 to 2020 owing to substitution of conventional energy forms by solar energy in Sunbelt regions . Hexa Research observed that Utility Solar PV , with more than 44 % share in the total installed capacity , was the biggest end use segment in the global Solar PV market in 2012 . The study forecasts that this segment will experience fastest growth in coming years .
Countries like Germany , France , and Spain , among others led to Europe hosting the largest capacity of Solar PV i . e . more than 68GW , in 2012 . However , in future , most demand will be generated from rapidly developing Asia Pacific markets like China , India , Taiwan , etc . China , with factors like low raw material costs and supportive regulations will experience exponential growth at CAGR of more than 34.5 % from 2013 to 2020 . Lower than expected development of Solar PV in high-potential nations like Brazil and Chile in Latin America and Saudi Arabia in the Middle East may hinder market growth .
Key operators in the global Solar PV industry are Yingli Green Energy from China and First Solar from US . Other notable participants are Trina Solar , Sharp , REC , etc .
Browse Related Category Market Reports @ https :// www . hexaresearch . com / research-category / energyand-power-industry
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