As per the recently published report by MarketsandMarkets™, the “Solar Photovoltaic Glass Market by Type (AR-Coated, Tempered, TCO-Coated), Application, End User (Crystalline Silicon PV Module, Thin Film Module, Perovskite Module), Installation Technology & Region – Global Forecast to 2027″, size is projected to reach USD 21.1 billion by 2027 from USD 6.2 billion in 2022 growing at a CAGR of 27.9%.
Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=92984553
Browse
- 330 Market data Tables
- 47 Figures
- 237 Pages and in-depth TOC on “Solar Photovoltaic Glass Market – Global Forecast to 2027″
This report also provides a comprehensive analysis of the companies listed below:
The major Players in solar PV glass market include Xinyi Solar Holdings Ltd. (China), IRICO Group New Energy Co., Ltd. (China), Flat Glass Group Co., Ltd (China), Qingdao Jinxin Glass Co., Ltd. (China), Dongguan CSG Solar Glass Co., Ltd. (China), AGC Solar (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Taiwan Glass Ind. Corp. (Taiwan), Saint-Gobain (France), Borosil Renewables Ltd. (India), and Guardian Glass (US), among others.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the solar PV glass market.
Recent Developments
- In August 2022, Nippon Sheet Glass Co., Ltd. announced an investment for construction of a new production site in Malaysia. The new site will improve the production capacity of the company for TCO-coated solar PV glass.
- In April 2021, Borosil Renewables Ltd. announced the acquisition of two solar glass companies, Interfloat Corporation and Glasmanfaktur Brandenburg (GMB). The acquisition was made to strengthen the company’s supply chain across Europe.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=92984553
AR-coated solar PV glass to hold the largest share in the global solar PV glass market through the forecast period
The solar PV glass industry has been segmented based on type into AR-coated solar PV glass, tempered solar PV glass, TCO-coated solar PV glass, and others. The AR-coated segment accounted for the dominant share of the market in 2021. The dominance of this segment is attributed to the high efficiency of these glasses in conversion of solar energy. Also, they can be easily placed in sensitive surroundings such as airports. On the other hand, TCO-coated solar PV glass have better transmission of energy, which is expected to lead this segment to grow with the highest CAGR during the forecast period.
Utility segment to grow at the fastest rate during the forecast period
The solar photovoltaic glass industry has been segmented based on application into residential, non-residential, and utility. The utility segment is projected to grow with the fastest CAGR during the forecast period. The growth in this segment is attributed to the conducive support of governments across the globe to set up of solar energy farms. Governments are providing subsidies and tax rebates to companies setting up solar farms for feeding energy into the grid. For instance, in China, the budget for renewable energy rebates was increased to USD 840 million for 2021, of which about 55% was allocated to the solar power industry. A similar trend is observed across the globe, even in underdeveloped countries, in order to reduce their fossil fuel import burden.
Crystalline silicon PV modules utilize the maximum of solar PV glass manufactured across the globe
The market has been segmented based on the end-user into crystalline silicon PV module, thin-film modules, and perovskite modules. The crystalline silicon PV modules segment accounted for the largest share of the market in 2021 and is expected to witness significant growth during the forecast period. This increase is attributed to good efficiency, easy availability of semiconductor raw material, and competitive cost of the module in large volumes. On the other hand, perovskite module is a relatively new technology that is gaining popularity owing to its higher efficiency and low space requirements.
Pattern glass technology accounts for the highest share of installation of solar PV glass
The market has been segmented based on installation into float glass technology and pattern glass technology. Patterned glass is largely utilized owing to its capability to concentrate energy flow into the cell. Glasses with this technology are generally coated with AR-coating for maximizing efficiency and then used in utility solar cells on a large scale. On the other hand, float glass is used in spaces wherein transmission of light is as important as absorption such as windows, facades, and canopies.
Asia Pacific is expected to have the largest market size in the global solar PV glass industry during the forecast period
Asia Pacific is projected to be the leading solar PV glass market during the forecast period. The dominance of the regional market can be attributed to the concentration of solar PV module manufacturers in the region, especially in China. According to International Energy Agency, Asia Pacific hold 90% share in the manufacture of solar modules, with China alone accounting for 74% of the global manufacturing capacity. These glasses are primarily used in solar modules, thus leading the glass demand in the region to be the highest. The presence of a robust industrial base, favorable government policies for solar energy generation, and low labor costs are factors strengthening the solar PV glass industry and attracting major players to invest in the region.
Inquire Now: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=92984553
About MarketsandMarkets™
MarketsandMarkets™ has been recently recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
Founded in 2009, MarketsandMarkets recognized uncharted business potentials within disruptive trends, forecasting a surge of $25 trillion in new B2B revenues by 2030. In our 13-year journey, we’ve collaborated with over 10,000 companies, generating $140+ billion in revenue impact. From a market research publisher, we’ve transformed into a growth-enabling leader, backed by a 1500+ strong team.