Solar PV Glass Market Research Report by Product Type (Anti-reflective (AR) coated, Transparent conductive oxide, Tempered), Module (Crystalline Silicon Modules, Amorphous, Silicon Modules, Thin Film Modules), Application (Utility, Residential, Non-Residential) and Region-Global Forecast to 2023
Solar PV Glass Industry Highlights
The Global Solar PV Glass Market is projected to exhibit an enormous compound annual growth rate of approximately 34% over the forecast period 2018-2023, asserts Market Research Future (MRFR) in an extensive study. The global solar PV glass market was valued at USD 4.5 Bn in 2017 and is expected to catapult to USD 19 Bn by the end of 2023.
Solar PV glass is a recent development in the solar energy market and is making big waves in the renewable energy sector. At the current rapid growth of adoption, it is highly conceivable that solar PV glass may replace traditionally used materials over the course of the coming years. Renewable energy solutions have been gaining traction across the globe due to its many benefits and reduced reliance on non-renewable energy making it the more sustainable option. Moreover, solar PV glass technology is increasingly cost-effective due to the ongoing R&D activities and increasing deployment of solar energy solutions. The increased demand for environmentally conscious and sustainable sources of energy is largely due to the production of harmful emissions and other issues which have contributed to poor air quality among other problems. The need to reduce the global carbon footprint is highly encouraging of the global solar PV market over the assessment period. Several factors are expected to help improve growth over the market, including the presence of government support for the adoption of renewable energy technology and the growth of green building construction projects.
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However, the market is helping back by the high cost associated with the installment of solar PV cells which can vary from region to region. Emerging and developing economies tend to have higher costs associated with solar PV glass, which hinders market growth. Presently, many market players are engaged in developing fully transparent solar PV glass as it has a wider number of potential applications which will offer the market huge opportunities for growth.
- Saint-Gobain S.A
- Guardian Industries
- First Solar Inc.
- Hanwha Q CELLS Co.
- Nippon Sheet Glass Co. Ltd.
- Yingli Green Energy Holding Company Ltd.
- Sun Power Corporation
- Xinyi Solar Holding Ltd.
- ReneSola Ltd.
Solar PV Glass Market Segmentation
Segmentation of the global solar PV market has been performed, in MRFR’s report, on the basis of type, module, application, and region. Types have been segmented into anti-reflective (AR) coated, transparent conductive oxide, tempered, and others.
Module has been segmented into crystalline silicon modules, amorphous silicon modules, thin-film modules, and others.
Applications of solar PV glass have been segmented to include residential, utility, and non-residential.
Solar PV Glass Regional Market Analysis
The global solar PV glass market covers North America, Europe, Asia Pacific and the Rest of the World.
Europe is expected to come out ahead and dominate the market with the largest share of the global market due to the high environmental awareness in the region. Moreover, the governments in this region, display strong support and encouragement for the adoption of renewable energy technologies. This is expected to drive the European solar PV glass. Moreover, solar energy technology is cheaper in developed economies. However, emerging economies in the APAC are very promising as this region receives high among of solar energy and the use of solar energy can be really beneficial. Although costs are higher in developing markets, the long terms benefits are difficult to ignore and the market in the APAC is expected to grow considerably.
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