Pune India, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Solar Photovoltaic Glass Market Size By Type (Tempered Solar PV Glass, Annealed Solar PV Glass, AR-Coated Solar PV Glass and Others), By Module (Amorphous Silicon PV Modules, Crystalline Silicon PV Modules and Thin Film PV Modules), By Application (Utility, Commercial and Residential), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the solar photovoltaic glass market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the solar photovoltaic glass market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as type, module, application, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global solar photovoltaic glass market are Euroglas GmbH, Borosil Limited, Hecker Glastechnik GmbH & Co. KG, Sisecam, Saint-Gobain, Emmvee Toughened Glass Private Limited, Guardian Glass, Taiwan Glass Industry Corporation, China-Henan Huamei Chemical Co. Ltd., Xinyi Solar Holdings Limited, Interfloat Corporation among others. To achieve a substantial market share in the worldwide solar photovoltaic glass market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Solar photovoltaic glass is an energy-generating glass that converts solar energy into electricity using solar cells. These glasses are installed on roofs or façades of buildings to supply enough energy to power the entire structure. Solar cells are mounted between two glass panes with a resin filler in these glasses, and they are firmly wrapped in these polymers on all sides. As a result of the increasing construction of buildings and almost zero harmful energy emissions, solar PV cells are being used in construction to generate renewable energy. During the next generation of windows, glass-based solar power concentrators with high energy conversion efficiency are expected to be installed. PV glass is expected to gain popularity in the future, and it is gradually replacing traditional building materials like windows and roofs. A changing environment and high technological costs in underdeveloped and emerging nations are major restraints on the global solar PV glass market. As well, grid congestion problems, curtailed production and complicated subsidies in China and India may hinder the growth of solar PV glass in the forecast period. Additionally, the growth of the solar PV glass market is aided by the development of green building construction methods, which increasingly incorporate solar PV glasses into sustainable buildings.
Scope of Solar Photovoltaic Glass Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Module, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Euroglas GmbH, Borosil Limited, Hecker Glastechnik GmbH & Co. KG, Sisecam, Saint-Gobain, Emmvee Toughened Glass Private Limited, Guardian Glass, Taiwan Glass Industry Corporation, China-Henan Huamei Chemical Co. Ltd., Xinyi Solar Holdings Limited, Interfloat Corporation among others |
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Segmentation Analysis
AR-coated solar PV glass is expected to be the fastest-growing segment in 2022.
The type segment includes tempered solar PV glass, annealed solar PV glass, AR-coated solar PV glass and others. The AR-coated solar PV glass segment is expected to witness the highest growth rate during the forecast period. It is a type of glass that reflects the sun's rays and allows them to pass through to the device located below. Also known as aluminized or transparent solar PV glass. AR-Coated is an anti-reflective coating that eliminates back glare, increases light transmission, and reduces internal reflections.
Crystalline silicon PV modules are expected to be the fastest-growing segment in 2022.
The module segment includes amorphous silicon PV modules, crystalline silicon PV modules and thin film PV modules. The crystalline silicon PV modules segment is expected to witness the highest growth rate during the forecast period. Growing demand for high-power electric vehicles in Asia Oceania and Europe is fueling the demand for charge inlet fuses. This segment holds the largest market share during the forecast period.
The utility is expected to be the fastest-growing segment in 2022.
The application segment includes utility, commercial and residential. The utility segment is expected to witness the highest growth rate during the forecasted period. During the forecast period, utilities are expected to continue to drive the market due to a growing demand for clean energy and rising concerns about greenhouse gas emissions. As a result of favourable government policies and subsidies in China, India, and the United States, the majority of global installations are projected to take place in these countries, as well as high electricity costs, which encourage solar photovoltaic glass installation.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the solar photovoltaic glass market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. A dominant position in the market for solar PV glass can be attributed to the concentration of solar PV module manufacturers in the region, especially in China. In accordance with the International Energy Agency, Asia Pacific accounts for 90% of the global production capacity of solar modules, with China accounting for 74% of the total.
Country Analysis
- Germany
Germany's solar photovoltaic glass market size was valued at USD 1.08 billion in 2022 and is expected to reach USD 4.9 billion by 2030, at a CAGR of 21.1% from 2023 to 2030. Increasing government initiatives to promote rooftop installation, as well as strict carbon emission regulations, are expected to drive the rapid growth of the country's market in the next few years. As a result of the government's efforts to switch to PV for electricity generation, dirty fossil fuels will no longer be used.
- China
China’s solar photovoltaic glass market size was valued at USD 1.19 billion in 2022 and is expected to reach USD 5.6 billion by 2030, at a CAGR of 21.5% from 2023 to 2030. Solar energy plants are expected to increase in number over the forecast period due to the growing interest in renewable energy. Measures to ensure energy security will drive industry growth, along with stringent government regulations aimed at deploying sustainable energy.
- India
India's solar photovoltaic glass market size was valued at USD 0.92 billion in 2022 and is expected to reach USD 4.34 billion by 2030, at a CAGR of 21.4% from 2023 to 2030. With the Smart Cities Plan, the Indian government has announced investments of USD 31,650 billion in the construction of 100 smart cities. Over the next five years, 100 smart cities and 500 cities will attract investments of USD 28.18 billion, opening up the potential for the application of solar photovoltaic glass to nonresidential buildings.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising government initiatives to make people aware of the advantages of using renewable resources.
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