Solar PV Glass Market Insights
Solar photovoltaic (PV) glass is an interesting technology which harnesses solar energy for conversion to electricity. Solar PV glass is a specially made glass which sandwiches transparent semiconductor-based PV cells. Market Research Future’s study of the global solar PV market has found the market is set to witness expansion at a staggering CAGR of 34% during the assessment period. Valued at USD 4.5 Bn in 2017 and is expected to grow explosively to reach a market value of USD 19 Bn by the end of 2023.
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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. Solar PV glass is much more in vogue than its regular counterpart and could conceivably replace traditionally used materials in a few years. Continued rapid cost reduction in solar PV glass technology purveyed by rigorous R&D and accelerated deployment is the economic drive which has spurred the adoption of solar PV glass and consequently stimulated the Global Solar PV Glass Market.
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.
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Solar PV Glass Market Regional 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.
MRFR has also covered the competition in the market and included the strategic market activities and market share of leading market players such as 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. and ReneSola Ltd.
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