Solar PV Glass Market to Rise at Robust 28% CAGR over 2020-2027 Forecast Period

Pune, India, July 2023 /MRFR Press Release/- Market research future published a half cooked research report on Global Solar PV Glass Market. The Solar PV Glass Market is estimated to reach USD 19 Bn during forecast period.

The MRFR analysis reports state that the global Solar P V Glasses Market was worth nearly USD 4.5 Billion in the year 2023. The reports further imply that the market is projected to attain around USD 19 Billion by the end of 2027 while thriving at a substantial growth rate of around 28%.

Solar Photovoltaic (P.V.) glass refers to glass using solar cells to convert solar energy into electricity. It is deployed on buildings' roofs or façade areas to generate power for a complete building. In these glasses, solar cells are fixed between two glass panes with a special resin filling. These resins tightly wrap solar cells from all sides. Every cell relates to two electrical connections and is connected to other cells to form a module. The global Solar P.V. Glasses market has grown in the last few years. The main aspect causing a surge in the performance of the market is the Low Acquisition Cost of these glasses.

Segment Analysis

The global market for Solar P.V. Glasses is fragmented into various segments based on application, type, module, and region.

Based on the types, the global market for Solar P.V. Glasses has been split into Tempered, Transparent conductive oxide, Anti-reflective (A.R.) coated, and others.

Based on the module, the global market for Solar P.V. Glasses has been split into Thin Film Modules, Amorphous Silicon Modules, Crystalline Silicon Modules, and others.

Based on the application, the global market for Solar P.V. Glasses has been split into Non-Residential, Residential, and Utility.

Regional Analysis

The global market for Solar P.V. Glasses is analyzed across five major geographies: Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.

The MRFR analysis reports the Asia-Pacific regional Solar P.V. Glasses market leading globally for Solar P.V. Glasses in 2022. The region has China as the largest contributor in terms of revenue share. On the other hand, the Indian market is likely to grow at the highest pace over the coming years. The main parameter enhancing regional market development is the rapid increase in the development of renewable power to deal with the rise in electricity demand. 

The European regional market for Solar P.V. Glasses is anticipated to ensure the second position across the global market over the assessment period. The region has the German market as the largest contributor in revenue share. On the other hand, the U.K. market is likely to grow at the highest pace over the coming years. The growing focus on the renewable power sector is the main parameter enhancing regional market development.

The North American region will likely demonstrate maximum growth over the coming years. The region has the U.S. market as the largest contributor in revenue share. On the other hand, the Canadian market is likely to grow at the highest pace over the coming years. The main parameter enhancing the regional market's development is the governments' active investments across developed nations to achieve a future with sustainable energy. As per the International Energy Agency (IEA), the U.S. government has imposed a multi-year extension of tax credits for renewable energy plants such as solar P.V. glass stations and concentrating solar power (CSP). The government has rested down helpful environmental policies at the state level for the deployment and operation of these renewable energy plants & power stations are also likely to enhance the development of the regional market over the coming years.

Competitive Analysis

The global market for Solar P.V. Glasses is known to have a strong and competitive landscape. The players across the market are focusing on investments in research & development activities to expand their product lines, which will help the Solar P.V. Glasses market grow even more. They are also considering several strategic activities to expand their footprint, with vital market developments including new product launches, higher investments, mergers & acquisitions, contractual agreements, and collaboration with other organizations. The list of prominent participants across the global market for Solar P.V. Glasses includes players such as Saint-Gobain S.A, Guardian Industries, Hanwha Q CELLS Co., First Solar Inc., ReneSola Ltd., Xinyi Solar Holding Ltd., Sun Power Corporation, Yingli Green Energy Holding Company Ltd., and Nippon Sheet Glass Co. Ltd. among several others.

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