Solar Photovoltaic Glass Industry
The global solar photovoltaic glass industry was valued at $4.54 billion in 2018 and is projected to reach $37.6 billion by 2026, growing at a CAGR of 30.3% from 2019 to 2026. Photovoltaic glass (PV glass) is a glass that integrates transparent semiconductor-based photovoltaic cells to convert light into electricity. The factors responsible for solar PV glass industry growth includes supportive regulations toward installation of solar plants have led to the increase in demand for solar PV glass.
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| Solar Photovoltaic Glass Industry |
In addition, the demand for solar glasses is on rise from end-use industries like residential, commercial, and utility scale pertaining that solar energy is a renewable energy, which causes no pollution and ensures energy saving. High costs involved in installation, storage, and purchase of solar devices is expected to hamper the growth of the industry. However, the global solar PV glass industry is yet to explore its full potential. The surge in demand for renewable energy from emerging economies such as India, China, and Japan are expected to offer lucrative growth opportunities to the industry.
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The global solar photovoltaic glass industry is segmented on the basis of type, end-use industry, and region. On the basis of type, it is divided into anti-reflective coated glass, tempered glass, TCO glass, and others. The tempered glass segment holds a dominant position in the market and anti-reflective coated glass segment is expected to grow with the highest CAGR of 31.6% during the forecast period.
By end-use industry, the solar photovoltaic glass industry trends are studied across residential, commercial and utility scale. The utility-scale segment holds a dominant position and is expected to grow with the highest CAGR of 31.4%, during the forecast period.
Region wise, the industry is segmented into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region holds a dominant position in the industry and LAMEA is expected to grow with the highest CAGR of 31.0%, during the forecast period.
The key players involved in the global solar PV glass industry are Suntech Power Holding Co. Ltd, Sun Power Corporation, First Solar Inc, Yingli Green Energy Holding Co. Ltd, Canadian Solar Inc, Schott Solar Ag, Sharp Corporation, Solar World Ag, Jinko Solar Holding Company Ltd, and Trina Solar Ltd To stay competitive, these industry players are adopting different strategies such as product launch, partnership, merger and acquisition. For instance, one of the largest solar panel manufacturers, Trina Solar announced to expand its solar manufacturing base in India.
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Key Findings of the Solar Photovoltaic Glass industry:
• In 2018, the Asia-Pacific industry held a share of over 68% in the solar photovoltaic glass industry size.• The tempered glass segment is expected to hold a dominant position in the solar PV glass industry share during the forecast period.• The anti-reflective coated glass segment is projected to grow at a CAGR of 31.6% by 2026.• The Asia-Pacific region dominated the solar photovoltaic glass industry in 2018 and LAMEA is expected to grow with the highest CAGR during the forecast period.• The qualitative data in the report aims on the solar PV glass industry trends, dynamics, and developments in the solar photovoltaic glass industry while the quantitative data provides information about the industry share and industry size in terms of revenue and volume.Get detailed COVID-19 impact analysis on the industry @ https://www.alliedmarketresearch.com/request-for-customization/6190?reqfor=covidAbout Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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