Bishop & Associates has just released a new 7 chapter research report defining the World Connector Market for Renewable Energy. The report profiles the Wind and Solar segments of the global market and outlines the major product types, connector categories, connector types, as well as projecting annual connector sales and forecast for each market segment and regions of the world.  The forecast will detail each specific connector category and connector type.  While there may be some reference made to electrical components, this report will focus on the electronic connector content only. 

Today we are facing huge challenges:  global warming, depleting natural resources, population growth, increasing energy demand, rising energy prices and unequal distribution of energy sources. All of these factors contribute to the urgent need to transform the energy sector, which primarily relies on fossil fuels, to one that uses renewable energies and energy efficient technologies.

Renewable energy is defined as the energy derived from resources that are regenerative, or for all practical purposes, cannot be depleted.  Resources include biofuels, biomass, hydroelectric power, geothermal energy, solar energy, wind power, ocean thermal energy, wave power, and tidal power.  The global renewable energy market grew by 20.4 percent in 2008 to reach a value of $310.5 billion and is forecast to have a value of $511.3 billion in 2013, an increase of 64.7 percent since 2008.

Potential of Wind Energy

Renewable energy markets grew robustly in 2008. Among new renewables (excluding large hydropower), wind power was the largest addition to renewable energy capacity. 

Existing wind power capacity grew by 29 percent in 2008 to reach 121 GW, or more than double the 59 GW of capacity in place at the end of 2005.

The 2008 increase was led by high growth in the strongest markets of the United States (8.4 GW added), China (6.3 GW), India (1.8 GW), and Germany (1.7 GW).

The United States overtook long-time wind power leader Germany, ending the year with 25 GW compared to Germany’s 24 GW.

China doubled its wind power capacity for the fifth year in a row, ending 2008 at 12 GW, and breaching China’s 2010 development target of 10 GW two years early.

Existing offshore wind capacity reached nearly 1.5 GW in 2008, virtually all of it in Europe, with 200 megawatts (MW) added in 2007 and 360 MW added in 2008. The United Kingdom became the offshore wind power leader in 2008.

Potential of Solar Energy

Solar energy is at the root of most forms of energy that humans use for power. Scientific American magazine states, “The energy in sunlight striking the earth for 40 minutes is equivalent to global energy consumption for one year. Solar energy’s potential is off the charts.”  The sun’s energy, known as solar radiation, can be converted into various forms of power, such as electricity and solar-thermal (or heat).

Grid-connected solar PV continued to be the fastest growing power generation technology, with a 70 percent increase in existing capacity to reach 13 GW.

Spain became the PV market leader, with 2.6 GW of new grid-tied installations.

The concentrated solar power industry saw many new entrants and new manufacturing facilities in 2008.

Solar hot water in Germany set record growth in 2008, with over 200,000 systems installed.

Market Performance In Renewable Energy For Connectors

The renewable energy market for connectors is made up of many different niche markets, each with its own particularities, growth rates and trends. In this report we have taken a closer look at the wind and solar energy market segments, as we consider these to be more lucrative than others for connector manufacturers.  Both contain an impressive amount of interconnect content, ongoing product development, new standards and technologies, with strong global attention and economic support.

The world market for connectors in the Renewable Energy market in 2008, reached $137.5 Million.  The overall market is summarized in the following chart:

2008 Renewable Energy Connector Market by Region

Taking existing market trends and the current outlook for Renewable Energy into consideration, the wide connector market is forecast to grow to $355.9 Million in 2013.  The forecast by region is summarized in the following chart.

2013 Renewable Energy Connector Market by Region