Newark, NJ, Feb. 14, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global solar photovoltaic glass market is expected to grow from USD 5.16 Billion in 2017 to USD 22.32 Billion by 2025 at a CAGR of 34.11% during the forecast period 2018-2025. Increasing demand for solar photovoltaic (PV) glass in residential applications, supportive policies, and initiatives by governments and stringent regulations about the adoption of clean energy are the factors fuelling the solar photovoltaic glass market.
Solar photovoltaic glass facilitates the conversion of light into electricity by incorporating transparent solar cells. The solar photovoltaic glass consists of solar cells that are placed with glass panes. It is used mainly for photovoltaic applications and can be of crystalline silicon or thin-film form-based materials. The solar photovoltaic glasses are also used as windows, rooftops, and fronts to give a creative architectural design for the buildings. For instance, Guardian Industries collaborated with Pythagoras Solar to manufacture and market SunGuard Photovoltaic Glass Units (PVGU) for commercial buildings. Also, the solar photovoltaic glass provides enhanced insulation than standard glass. Also, the adoption of clean energy and the government’s initiatives for the adoption of reviewable energy for building materials has increased the solar photovoltaic glass market in the future.
Surging demand for solar photovoltaic glass in household applications, supportive policies and initiatives taken by governments, and stringent regulations about the adoption of clean energy are the key driving factors for the solar photovoltaic glass market. The high costs involved in the installation and increasing prices of raw materials may limit the growth of the market. However, expanding awareness about the benefits of renewable sources, increasing awareness to limit carbon emission levels is expected to lead the growth of the solar photovoltaic glass market in a couple of years.
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Key players operating in the global solar photovoltaic glass market include AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Henan Huamei Cinda Industrial Co., Ltd., Guangfeng Solar Glass (Hong Kong) Co., Ltd., Flat Glass Co., Ltd., Interfloat Corporation, Guangdong Golden Glass Technologies, Hecker Glastechnik GmbH & Co. KG, F solar GmbH, Emmvee Toughened Glass Private Limited, and Euroglas. The AGC Solar, Henan Huamei Cinda Industrial Co., Ltd., Borosil Glass Works Ltd., Hecker Glastechnik GmbH & Co. KG, and Saint-Gobain Solar among others. To enhance their market position in the global solar photovoltaic glass market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- For instance, in June 2018, AGC (AGC Asahi Glass), the world’s largest producer of flat glass, did a strategic development agreement with Ubiquitous Energy, the leader in transparent solar technology. This collaboration was to concentrate on the development of Ubiquitous Energy’s transparent and neutral solar coating which is a transparent solar glass to produce electricity.
- For instance, in July 2018 Sisecam Flat Glass which is a leader of plate glass market in Turkey and largest manufacturer in Europe, manufactured specific glasses to be used in solar panels and solar collectors. The organization exhibited this high-performance products at Intersolar 2018 Exhibition.
The AR coated segment valued around USD 1.93 billion in 2017
Type segment includes AR coated, TCO coated, tempered, and other. The AR coated segment valued around USD 1.93 billion in 2017. The AR coated solar PV glass delivers a consistent performance in solar panels. It also virtually eliminate reflections when used asd eyeglass lenses. The tempered glass is being extensively used due to its strength features and helps to improve the power output of PV modules. The tempered glass are also known as safety glass or toughened glass.
Utility segment held highest market share of 34.11% in 2017
Application segment is divided into residential, utility, and non-residential. Utility segment held highest market share of 34.11% in 2017 owing to increasing installation of utility-scale solar power plants across the globe and increasing distributed power generation applications.
Silicon PV modules segment is anticipated to grow with highest CAGR 35.44% during the forecast period
End user segment covers crystalline silicon PV modules and thin film PV modules. Silicon PV modules segment is anticipated to grow with highest CAGR 35.44% during the forecast period owing to its increasing use in both commercial & residential applications and are safe and reliable to use.
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Regional Segment Analysis of the Solar Photovoltaic Glass Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia-Pacific region held the largest market share of approximately 38.23% in 2017 where as the North America region held the second dominant position in the global solar photovoltaic glass market. Asia Pacific is fastest growing region due to the increasing demand for solar energy, increasing initiatives by governments of various countries to reduce emissions of greenhouse gases, and introduction of renewable sources of energy are creating opportunity for the growth of the market. Favourable regulations, increasing investments for renewable sources, and rapid technological advancements are some of the factors that led to the growth of solar photovoltaic glass market in North America region.
About the report:
The global solar photovoltaic glass market is analysed on the basis of value (USD Billion), volume (Million Square Meters), consumption (Million Square Meters), imports (Million Square Meters) and exports (Million Square Meters). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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