ID: MRFR/E&P/5254-HCR | February 2021 | Region: Global | 100 pages
Solar PV glass was valued at USD 4.5 Bn in 2017 and is expected to catapult to USD 19 Bn by the end of 2023
This MRFR report on Solar PV Glass Market analyses the market scrupulously to present a broader overview of the market. The report provides a decisive view of the solar PV glass market by segmenting the market on the basis of type, module, and application. The report highlights the current status of the market along with crucial macro and microeconomic aspects affecting the market. The scope of the report covers the regions of North America, Europe, Asia Pacific, and the Rest of the World where the market has its presence. Country-level revenue analysis is also provided in the report. Forecasts, thorough analysis of key players' market share, opportunities and risk factors are also discussed in the report.
Solar PV Glass Market is projected to exhibit an enormous compound annual growth rate of approximately 34% over the forecast period 2018-2023, asserts Market Research Future (MRFR) in an extensive study. The global market of solar PV glass was valued at USD 4.5 Bn in 2017 and is expected to catapult to USD 19 Bn by the end of 2023.
First Solar Inc., Xinyi Solar Holding Ltd., Nippon Sheet Glass Co. Ltd., Yingli Green Energy Holding Company Ltd., Sun Power Corporation, ReneSola Ltd., Hanwha Q CELLS Co., and Saint-Gobain S.A,Guardian Industries are among the leading companies in the solar PV glass market.
Solar photovoltaic glass (PV) technology uses the same principle as solar panels that convert light into electricity. Solar PV glass is a highly engineered construction glass which incorporates transparent semiconductor-based photovoltaic/solar cells and can be used for various purposes. Solar PV glass technology is conceived to be highly popular and is progressively replacing conventional building materials in parts such as windows, roofs, skylights, and facades.
Solar PV glass is much more in vogue than its regular counterpart and could conceivably replace traditionally used materials in a few years. Continued rapid cost reduction in solar PV glass technology purveyed by rigorous R&D and accelerated deployment is the economic drive which has spurred the adoption of solar PV glass and consequently stimulated the Global Solar PV Glass Market.
In addition, increasing awareness regarding the benefits of renewable energy solutions coupled with the incessant need to limit environmental degradation has been a key influencer of market growth. Governments in multiple countries have also endeavored towards encouraging the adoption of renewable energy sources, which is likely to reflect positively on the growth of the market.
The advent of green building construction technology, which increasingly exploits solar PV glasses as a part of sustainable construction, also boosts the growth of the Global Solar PV Glass Market.
On the flipside, high installation cost is associated with solar PV glass technology. The cost of installation of solar PV glass technology varies between countries and regions and is generally high in emerging economies and underdeveloped nations.
Efforts are underway to develop almost fully transparent solar PV glass, which would be suitable for use in more applications. The outlay of massive amounts for the same provides opportunities for the growth of the global solar PV glass market.
Both primary and secondary data sources form the base of MRFR's research methodology which allows analysis of the market from a broader perspective. Primary research data collected through interactions with key level industry participants are carefully collated with data derived from credible secondary sources such as white papers, annual reports, and others. A multi-layer data distillation ensures accuracy which is at the forefront of MRFR's research methodology. For estimation and validation of market size, the top-down and bottom-up approaches are employed.
|Market Size||2023: USD 19 Billion|
|CAGR||34% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Module and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||First Solar Inc., Xinyi Solar Holding Ltd., Nippon Sheet Glass Co. Ltd., Yingli Green Energy Holding Company Ltd., Sun Power Corporation, ReneSola Ltd., Hanwha Q CELLS Co., and Saint-Gobain S.A,Guardian Industries|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
A 34% CAGR is expected to benefit the global market.
An income potential of USD 19 Bn is predicted to be gained by the end of 2023.
Sun Power Corporation, ReneSola Ltd., Hanwha Q CELLS Co., Yingli Green Energy Holding Company Ltd., Guardian Industries, and Saint-Gobain S.A are a few of the market companies.
The European region is prone to controlling the global market in the coming period.
The sustained cost reduction in solar PV glass technology is estimated to guide the market.