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Overview of the Investment Attractiveness of Selected Parts of the Value Chain: Wind and Solar Power
Frost & Sullivan, April 2010, Pages: 53
This research service covers global wind and solar power markets’ value chains, focusing on the components, materials and semi-finished goods and identifies key trends, growth and investment opportunities. With strong growth in recent years for wind and solar power, followed by a major market slow-down in 2008 and 2009 and return to growth in 2010, value chains have been restructuring and experiencing both challenges and opportunities. This study provides a detailed picture of the value chains for each type of power and identifies the issues that will shape the future growth.
Research Overview
This Frost & Sullivan research service titled Overview of the Investment Attractiveness of Selected Parts of the Value Chain: Wind and Solar Power provides a comprehensive analysis of the global wind and solar power markets’ value chains with a focus on the components, materials, and semi-finished goods. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets: wind turbine components (bearings, blades, gearbox, tower, generator, transformer and control system) and solar module components (polysilicon, ingot/wafer, cell, module, PV glass, backsheet, junction box and frame and EVA films).
Market Overview
Sustained Growth in the Wind and Solar Power Markets to Spur Producers to Expand Their Existing Capacities
As the wind and solar power markets are continuously growing, the industry value chains should be competent enough to sustain the anticipated growth. This increasing market growth rate will force many component producers to expand their existing capacities, build new plants and differentiate geographically. “Rapid expansion of the wind and solar power installed capacity, fuelled by generous government support, led to supply chain constraints when critical components were scarce, because their manufacturers were unable to keep up with the market expansion rates,” says the analyst of this research. “The financial crisis alleviated the strain to some extent, as some projects were delayed or cancelled, thereby curbing the demand.” Post-recessionary growth rates can lead to supply shortages, impelling component manufacturers to expand their existing production capacities to support the wind and solar power markets.
A key restraint is the continuity of government support given to renewable energy markets throughout the world, especially now when the national budgets are overstretched and the budget deficit is high. Component manufacturers consider expansions carefully because in case government support reduces dramatically, it will lead to a reduction in demand, leaving them with overcapacities. “On one hand, some more mature markets especially in Europe are reconsidering the amount of support they can afford to channel into renewable energy markets,” explains the analyst. “On other the hand, some countries are setting ambitious goals and putting in significant effort into renewable energy market expansion.” This re-balancing of the global renewable energy landscape and hot spots creates a need to diversify into new markets.
Europe and the United States-based manufacturers are setting up shops in Asia to capitalise on lower labour and component prices. Some components and raw materials require advanced technological expertise and extensive production experience to produce competitive products, which acts as a barrier for new entrants. At the same time, there are other markets where experience and expertise can be rapidly gained, making it easier for new manufacturers to enter or expand into these markets. The interest towards the renewable energy industry is increasing. Those manufacturers, who have not been active in renewable energy space before, are evaluating the sector and working on entry and product strategies to enable them to penetrate this market.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Wind Energy
- Bearings
- Blades
- Gearbox
- Tower
- Generator
- Transformer
- Control system
Solar Energy
- Polysilicon
- Ingot/wafer
- Cell
- Module
- PV glass
- Backsheet
- Junction box and frame
- EVA films
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