The factors responsible for solar photovoltaic glass market growth includes supportive regulations toward installation of solar plants have led to the increase in demand for solar PV glass. In addition, the demand for solar glasses is on rise from end-use industries like residential, commercial, and utility scale pertaining that solar energy is a renewable energy, which causes no pollution and ensures energy saving. Photovoltaic glass (PV glass) is a glass that integrates transparent semiconductor-based photovoltaic cells to convert light into electricity.
High costs involved in installation, storage, and purchase of solar devices is expected to hamper the growth of the market. However, the global solar PV glass market is yet to explore its full potential. The surge in demand for renewable energy from emerging economies such as India, China, and Japan are expected to offer lucrative growth opportunities to the market.
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The global solar photovoltaic glass market is segmented on the basis of type, end-use industry, and region. On the basis of type, it is divided into anti-reflective coated glass, tempered glass, TCO glass, and others. The tempered glass segment holds a dominant position in the market and anti-reflective coated glass segment is expected to grow with the highest CAGR of 31.6% during the forecast period.
By end-use industry, the solar photovoltaic glass market trends are studied across residential, commercial and utility scale. The utility-scale segment holds a dominant position and is expected to grow with the highest CAGR of 31.4%, during the forecast period.
The Asia-Pacific region holds a dominant position in solar photovoltaic glass market and LAMEA is expected to grow with the highest CAGR of 31.0%, during the forecast period. In 2018 China’s National Energy Administration published an action plan for improving competitiveness in software and equipment that supports photovoltaic intelligent manufacturing and to promote exportation. China is aiming to improve its level of intelligent manufacturing in photovoltaic basic material, solar cell, and its components and this will further increase the solar photovoltaic glass market. Furthermore, government initiatives and policies in countries like India and Vietnam to boost the adoption of solar energy further contributes to solar photovoltaic glass market growth.
North America will experience a substantial CAGR during the forecast period. The rising solar panel manufacturing in the U.S. as a result of the imposition of a 30% tariff by the U.S. government on imported solar panels and cells in 2018 is fuelling the solar photovoltaic glass market growth in this region.
The key players involved in the global solar PV glass market are Suntech Power Holding Co. Ltd, Sun Power Corporation, First Solar Inc, Yingli Green Energy Holding Co. Ltd, Canadian Solar Inc, Schott Solar Ag, Sharp Corporation, Solar World Ag, Jinko Solar Holding Company Ltd, and Trina Solar Ltd To stay competitive, these market players are adopting different strategies such as product launch, partnership, merger and acquisition. For instance, one of the largest solar panel manufacturers, Trina Solar announced to expand its solar manufacturing base in India.
Key Findings of the Solar Photovoltaic Glass Market :
In 2018, the Asia-Pacific market held a share of over 68% in the solar photovoltaic glass market size.
The tempered glass segment is expected to hold a dominant position in the solar PV glass market share during the forecast period.
The anti-reflective coated glass segment is projected to grow at a CAGR of 31.6% by 2026.
The Asia-Pacific region dominated the solar photovoltaic glass market in 2018 and LAMEA is expected to grow with the highest CAGR during the forecast period.
The qualitative data in the report aims on the solar PV glass market trends, dynamics, and developments in the solar photovoltaic glass industry while the quantitative data provides information about the market share and market size in terms of revenue and volume.
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