New York, United States , April 18, 2023 (GLOBE NEWSWIRE) -- The Global Solar PV Glass Market size is to grow from USD 6.51 billion in 2022 to USD 87.76 billion by 2032, at a Compound Annual Growth Rate (CAGR) of29.7% during the forecast period due to increasing demand for renewable energy and a growing adoption of solar power as a clean and sustainable energy source, which is driving the demand for solar PV glass.
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Solar PV glass is its high light transmittance, which refers to the amount of sunlight that can pass through the glass and reach the solar cells. High light transmittance is essential for maximizing the solar panel's energy generation capacity. Solar PV glass may also have special coatings or textures, such as anti-reflective coatings or textured surfaces, to enhance light absorption and reduce reflection, further improving the overall efficiency of the solar panel. Solar PV glass is used in various types of solar panels, including monocrystalline, polycrystalline, and thin-film solar panels. It is widely used in a range of applications, including residential, commercial, and utility-scale solar installations, as well as in building-integrated photovoltaics where solar panels are integrated into the architecture of buildings, such as facades, windows, and roofs.
Browse key industry insights spread across 210 pages with 123 market data tables and figures & charts from the report on "Global Solar PV Glass Market Size, Share, and COVID-19 Impact Analysis, By Type (Anti-Reflective Coated, Solar PV Glass, Tempered Solar PV Glass, TCO Coated Solar PV Glass, and Others), By Application (Residential, Non-Residential, and Utilities), By Installation (Float Glass Technology, and Patterned Glass Technology, By Module (Crystalline Silicon PV Modules, Thin Film PV Modules, and Perovskite Modules), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Description Here:
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The anti-reflective coat segment is expected to grow at a CAGR of 30.7% over the forecast period
The global solar PV glass market is categorized into different types, including anti-reflective coated, tempered, TCO coated, and others. Among these, the anti-reflective coated segment remains growing due to its higher efficiency. The demand for AR-coated glasses is expected to remain dominant during the forecast period as they enable a greater amount of sunlight to reach the solar cell, maximizing energy generation from the solar panels.
The utility segment dominated the market with around 51.3% revenue share in 2022.
The global solar PV glass market is divided into different applications, including residential, non-residential, and utilities. Among these, the utility segment holds the largest market share in 2022, primarily due to government initiatives aimed at establishing large-scale solar farms to increase the proportion of renewable energy and reduce carbon emissions.
The crystalline silicon PV module segment dominated the market with around 75.6% revenue share in 2022.
The global solar PV glass market is divided into different module types, including crystalline silicon PV modules, thin film PV modules, and perovskite modules. Among these, the crystalline silicon PV modules segment held the largest market share in 2022, primarily due to the highly organized structure of the silicon lattice that enables more efficient conversion of light into energy.
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Asia-Pacific held the largest market with more than 48.3% revenue share in 2022.
The Asia Pacific region has emerged as a dominant player in the solar PV glass market due to various factors. Firstly, the region has witnessed significant growth in solar energy installations, fueled by the increasing demand for renewable energy, rapid industrialization, and urbanization in countries like China, India, and Japan. Additionally, favorable government policies and incentives, such as feed-in tariffs, tax credits, and renewable energy targets, have encouraged the widespread adoption of solar power in the region. Moreover, the presence of major solar panel manufacturers and specialized PV glass manufacturers in Asia-Pacific has further boosted the market, with well-established supply chains and production capabilities. Furthermore, the growing awareness about environmental sustainability and the need for clean energy sources in the region has also driven the demand for solar PV glass.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. The key players in the global Solar PV glass market include Saint-Gobain Solar, Xinyi Solar Holdings Ltd., AGC Inc., Nippon Sheet Glass Co., Ltd., Flat Glass Group Co., Ltd., Guardian Glass LLC, Borosil Renewables Limited, Henan Huamei Cinda Industrial Co., Ltd., Guangdong Golden Glass Technologies Limited, Taiwan Glass Ind. Corp., Sisecam Flat Glass, Euroglas GmbH, Interfloat Corporation, Phoenicia Flat Glass Industries Ltd., Emmvee Toughened Glass Private Limited.
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Recent Developments
In August 2022, Nippon Sheet Glass Co., Ltd. announced its plans to invest in a new production facility in Malaysia to expand its capacity for manufacturing TCO-coated solar PV glass. This strategic move is aimed at enhancing the company's production capabilities and increasing its output of TCO-coated PV glass at the new facility in Malaysia.
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