Solar Photovoltaic (PV) Glass Market Report 2019-2024: Emerging Trends, Key Players, Types, Application, Trends And Growth Factors

Press Release

The power generated from the solar PV cells reduces carbon footprints and greenhouse gas emissions, and also ensures energy cost savings. Additionally, the increasing environmental concerns has led to the growing shift towards renewable energy sources, which is likely to boost the growth of solar PV glass market during the forecast period (2017-2023). The increasing solar PV installations across various nations including Mexico, India, Pakistan, Italy, Spain, the UK and South-East Asia is expected to boost the demand of solar PV glass during the forecast period. Moreover, the favorable government norms such as Kyoto Protocol Act focusing on promoting the usage of solar PV panels thereby reducing the carbon emissions is expected to further propel the market for solar PV glass during the forecast period.

Market Dynamics

The global solar PV glass market is expected to witness significant growth during the forecast period (2017-2023) due to the increasing disposable incomes, shift towards renewable energy sources owing to the increasing environment concerns and rapid industrialization and urbanization in emerging nations such as China, India, Russia and Brazil. Based on application, utility segment is projected to generate the highest revenue in global solar PV glass market during the forecast period.

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Trends

The key trend observed in the solar PV glass market is the rising R&D activities and green building trends. Major companies such as Asahi Glass Co., Ltd., Xinyi Solar Holding Ltd. and Nippon Sheet Glass Co. Ltd. are investing on research and development (R&D) activities to develop innovative solutions and technologies in the market to create huge demand for solar PV glass across the globe during the forecast period. Additionally, according to the World Green Building Trends 2016, green building construction is expected to double every three years owing to the client demand, environmental regulations and an increased awareness of the benefits of renewable energy sources, creating significant demand for the solar PV glass during the forecast period.

Growth Drivers

The major factors driving the growth of solar PV glass market are increasing PV installations and favorable policy support from the government. The increasing power demands and comparatively lower costs associated with the solar PV installations compared to conventional energy sources is expected to attract huge opportunities for solar PV glass from the utilities segment during the forecast period. Additionally, the increasing awareness towards the benefits of renewable energy sources and the rising need to curb the emission levels is likely to further drive the market for solar PV glass during the forecast period.

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The increasing disposable incomes is expected to increase the number of PV installations in the residential segment during the forecast period. This would spike the demand for solar PV glass to a significant level during the forecast period.

Market Segmentation

By Product

  • Annealed
  • Toughened/tempered

By Technology

  • Float
  • Pattern

By End-Use

  • Crystalline silicon module
  • Amorphous silicon / CdTe module
  • Thin-film CIS / CIGS module

By Application

  • Residential
  • Non-residential
  • Utilities

GEOGRAPHICAL SEGMENTATION

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • U.K.
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Pakistan
    • Rest of Asia-Pacific
  • Middle East and Africa
  • South America

This post was originally published on Financial Sector

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