The Asia-Pacific region is one of the fastest-growing economic zones in the world. Driven by rapid industrialization and urbanization, energy consumption has surged, prompting countries to invest heavily in regional energy infrastructure to support continued growth. Currently, developing nations such as China are leading the charge in this region, not only advancing their own economies but also playing a significant role in global economic expansion.
At the same time, many of these areas are densely populated, and as economic activity increases, so does the demand for infrastructure and energy. Countries have made substantial investments in energy projects, with nuclear power once serving as a key pillar in several nations. Following the Fukushima nuclear disaster in Japan, most Asia-Pacific countries temporarily halted or delayed their nuclear development plans. Some did not resume until a year later, and all made adjustments to their energy strategies. For example, China revised its long-term nuclear power plan, reducing the projected total installed capacity. This shift has led to a greater emphasis on renewable energy sources, particularly wind and solar power, which have seen increasing installations in recent years.
In countries like Australia, China, Japan, and India, photovoltaic (PV) demand has grown dramatically over the past few years. Beyond these four major markets, emerging economies across Asia-Pacific and Central Asia are expected to contribute significantly to the global PV market in the coming years. By the end of 2017, these emerging markets were projected to account for 4% of the global PV market. According to a report by NPD Solarbuzz, PV demand in these regions is set to surpass 3 GW by 2017, signaling strong growth potential. The report highlights that the Asia-Pacific and Central Asian markets will continue to expand rapidly over the next five years, creating numerous business opportunities for investors and industry players alike.
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