Global Solar Photovoltaic Glass Market
Global Solar Photovoltaic Glass Market Size Booming 6X to Cross Whopping USD 117.7 Billion by 2029
Published | 21 February 2023
Global solar photovoltaic (PV) glass market is gaining traction because of the high demand for solar PV glass from end-use industries and increasing popularity of solar systems for renewable energy.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global solar photovoltaic (PV) glass market size at USD 18.73 billion in 2022. During the forecast period between 2023 and 2029, the global solar photovoltaic glass market size is projected to grow at a robust CAGR of 30.22% reaching a value of USD 117.74 billion by 2029. Rising interest and investments in the renewable energy sector to support power generation from sustainable sources such as solar and wind, along with favorable government initiatives to accelerate the adoption of solar energy across commercial and residential spaces, are major growth factors for the global solar PV glass market. The global market for solar PV glass is also expected to witness lucrative growth prospects from extensive R&D and ongoing product improvements.
Global Solar Photovoltaic Glass Market – Overview
Solar photovoltaic (PV) glass is a method that converts solar energy into electrical energy while shielding PVs against environmental elements, including dust, rain, and snow. Solar PV glass is being used to build integrated PVs. PV glass is being incorporated into building panels, roof panels, and windows. Cell phones, automobiles, and greenhouses may all employ solar PV glass. Photovoltaic is a technology advancement that makes it possible to convert solar energy into power. Transparent semiconductor-based PV cells, sometimes referred to as solar cells, are incorporated into the glass to convert sunlight into solar energy. PV glass transforms buildings into vertical power producers by generating free and renewable electricity due to the solar energy. Additionally, it offers thermal and acoustic insulation, guaranteeing filtration as up to 95% of infrared radiation and 99% of dangerous UV radiation may be absorbed. The three major PV cell technologies—monocrystalline silicon, polycrystalline silicon, and thin film—control the global market.
Sample Request @ https://www.blueweaveconsulting.com/report/solar-photovoltaic-glass-market/report-sample
Global Solar Photovoltaic Glass Market – By Module
Based on module, the global solar photovoltaic glass market is segmented into crystalline silicon PV modules, amorphous silicon PV modules, and thin film PV modules. The crystalline silicon PV modules segment accounts for the highest share in the global solar photovoltaic glass market. Crystalline technology typically offers the highest "STC'' (standard test conditions) efficiency ratings; for multi-crystalline modules, these values range from 12% to 17%, and for monocrystalline modules, they can reach up to 20%. However, thin-film PV modules are projected to register growth at a high CAGR during the forecast period as they offer better low-light performance as well as good structural strength.
Impact of COVID-19 on the Global Solar Photovoltaic Glass Market
The unprecedented COVID-19 pandemic outbreak significantly affected the growth of the global solar photovoltaic glass market. The imposition of lockdown and import-export restrictions across countries significantly affected the manufacturing activities as well as the demand and supply for solar photovoltaic glass. The infrastructure development activities surrounding the renewable energy sector were also temporarily halted due to a shortage of workers. All these factors resulted in huge losses to the global solar photovoltaic glass market during the initial outbreak. However, as the demand for energy spiked and awareness towards sustainability gained traction in the post COVID-19 period, the market has witnessed tremendous growth.
Major players operating in the global solar photovoltaic glass market include AGC Glass Europe, Nippon Sheet Glass Co., Ltd., Taiwan Glass Industry Corporation, Xinyi Solar Holdings Limited, Sisecam, Guardian Glass, Saint-Gobain, Borosil Limited, China-Henan Huamei Chemical Co., Ltd., Interfloat Corporation, Guangdong Golden Glass Technologies Ltd., Hecker Glastechnik GmbH & Co. KG, ENF Ltd., Emmvee Toughened Glass Private Limited, and Euroglas GmbH.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Don’t miss the business opportunity in the Global Solar Photovoltaic Glass Market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Solar Photovoltaic Glass Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Solar Photovoltaic Glass Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- Solar Photovoltaic Glass Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Type (AR Coated Solar PV Glass, Tempered Solar PV Glass, TCO Coated Solar PV Glass, Annealed Solar PV Glass, Other); By Module (Crystalline Silicon PV Modules, Amorphous Silicon PV Modules, Thin Film PV Modules); By Installation Technology (Float Installation Technology, Pattern Installation Technology); By End User (Residential, Commercial, Utility); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: February 2023
Increasing focus and investments in the renewable energy industry for the sustainable development and supportive government measures to promote the use of solar energy in both commercial and residential settings are expected to drive global solar photovoltaic (PV) glass market during the forecast period between 2023 and 2029.
Relevant Press Releases
- UAE Diesel Generator Set Market to Expand at a CAGR of 14.7%
- India Solar Water Pump Market Forecast to grow at a CAGR of 8.4%
- Africa Diesel Genset Market to Grow at 6.4% CAGR between 2022 and 2028
- Global Offshore Wind Turbine Operations and Maintenance Market Size Set to Touch USD 20 Billion by 2029
- Global Lithium-Ion Battery Anode Market Showing Sturdy Growth: Projected to Grow at a CAGR of 19.6% by 2027