The global solar PV
glass market was valued at USD 4.5 billion in 2017 and is expected to rise to
USD 19 billion by 2023 and is expected to exhibit a solid 34% CAGR over the forecast
period. The progressive reduction in the
prices of solar PV glass hand in hand with the development of the technological
framework of the sector is also likely to be a major driver for the solar PV
glass market over the forecast period. The growing contribution of the
residential sector in the solar PV market is likely to make the latter
especially important for the solar PV glass market, as residential consumers
are more sensitive to the prices of technological innovations like solar PV
glass than industrial or commercial users.
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Competitive Analysis:
Leading players in the
global solar PV glass market include Hanwha Q CELLS Co., Saint-Gobain S.A.,
Guardian Industries, Yingli Green Energy Holding Company Ltd., Xinyi Solar
Holding Ltd., Nippon Sheet Glass Co. Ltd., First Solar Inc., ReneSola Ltd., and
Sun Power Corporation.
Xinyi Solar is looking
to raise its glass production capacity by spinning off its solar project
operations by way of a float. The company plans to acquire extra funding by
offering shares in its solar farm operations. This extra funding can then be
used for the company’s solar glass production units.
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Solar PV Glass Market Segmental Analysis:
The global solar PV
glass market is segmented by type, module, application, and region.
By type, the solar PV
glass market is segmented into anti-reflective coated, transparent conductive
oxide, tempered, and others. Anti-reflective coated glass is likely to remain
the largest product segment in the global solar PV glass market over the
forecast period due to its relative ease of operation and use.
By module, the solar
PV glass market is segmented into crystalline silicon modules, amorphous
silicon modules, thin film modules, and others. Of these, crystalline silicon
modules are expected to be the major contributor to the global solar PV glass
market over the forecast period.
By application, the
global solar PV glass market is segmented into utility, residential, and
non-residential. The residential sector is the leading consumer of solar PV
glass and is likely to retain this position over the forecast period due to the
growing awareness about environmental initiatives among average residential
consumers.
Solar PV Glass Regional Market Analysis:
Geographically, the
global solar PV glass market is segmented into North America, Europe, Asia
Pacific, and Rest of the World. Europe is likely to dominate the global solar
PV glass market due to the high amount of awareness among consumers about the
importance of initiatives such as solar PV glass. There is considerable public
will in Europe to shift to renewable energy as soon as possible, with the
governments in the region also supporting widespread adoption of renewably
energy generation mechanisms. This has led to widespread adoption of measures
such as solar PV glass. The growing government support in these regions to the
renewable energy sector is likely to ensure the dominance of Europe in the
global solar PV glass market over the forecast period.
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