Thursday, 13 February 2020

Solar PV Glass Market Size by Company Profile and Industry Segments Poised for Strong Growth in Future 2023


Solar PV Glass Market Overview
The global Solar PV Glass Market Size is anticipated to surpass a valuation of USD 19 billion, attaining a CAGR of 34% during the forecast period (2018-2023), Market Research Future (MRFR) claims in a detailed report. Solar photovoltaic glass technology is considered a highly engineered construction glass, which incorporates transparent semiconductor-based solar or photovoltaic cells, and can be used for multiple purposes.

Market Potential and Pitfalls
The global solar PV glass market has witnessed a tectonic surge over the past few years. Solar PV glass is more in vogue than its counterparts and can replace traditionally used materials in the foreseeable future. Constant cost reduction in solar PV glass technology due to rigorous R&D and soaring deployment has fostered the adoption of solar PV glass across the globe. People across the world are highly becoming aware of the benefits of renewable energy solutions, which has further accelerated its adoption. The incessant need to curtail environmental degradation is one of the key influencers of the market growth. Governments are encouraging the adoption of renewable energy sources, which is further reflecting positively on the market across the world.
The increasing green building trend is one of the key factors encouraging the market growth globally. With rising power demand across the globe, the market is likely to flourish. Moreover, rising disposable income of consumers is likely to increase the number of PV installations. This will further spike the demand for solar PV glass globally.

Solar PV Glass Market: Segmental Analysis
The solar PV glass market is segmented on the basis of type, module, and application.
By type, the solar PV glass market is segmented into transparent conductive oxide, anti-reflective (AR) coated, tempered, and others. Of these, the anti-reflective (AR) coated type is likely to gain significant traction in the long run. The growth can be attributed to its ease of operation and use.
By module, the solar PV glass market is segmented into amorphous silicon modules, crystalline silicon modules, thin-film modules, and others. Among these, the crystalline silicon modules segment is predicted to be the major contributor.
By application, the market comprises residential, utility, and non-residential. Of these, the residential sector is predicted to gain prominence and retain its position in the long run. The growth is credited to the soaring awareness regarding environmental initiatives among average residential consumers.

Regional Frontiers
Geographically, the solar PV glass market spans across Europe, Asia Pacific, North America, and the Rest of the World (RoW).
Considering the global scenario, Europe will dominate the global solar PV glass market, owing to the soaring amount of awareness among consumers associated with the importance of initiatives like solar PV glass. The considerable shift towards renewable energy, coupled with the government supporting the adoption of renewable energy generation mechanisms, is encouraging the market growth in the region.
The Asia Pacific is likely to gain prominence in terms of revenue. The existence of countries like Japan, China, South Korea, and India is highly influencing the market growth. The surging demand for solar photovoltaic glass is predicted to encourage growth.
North America is likely to witness significant growth, with the U.S. actively investing in solar energy plants in order to obtain a future with sustainable energy. As per the International Energy Agency, the government of the U.S. has passed an extension of tax credits for renewable energy plants like solar PV glass stations and concentrating solar power. Moreover, the government has imposed supportive environment policies for the operation and installation of renewable energy plants & power stations.

Competitive Dashboard
The key players dominating the solar PV glass market include Xinyi Solar Holding Ltd., First Solar Inc., Yingli Green Energy Holding Company Ltd., Nippon Sheet Glass Co. Ltd., ReneSola Ltd., Sun Power Corporation, Saint-Gobain S.A, Guardian Industries, and Hanwha Q CELLS Co.

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