IMARC Group has recently released a new research study “Solar Photovoltaic Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of Solar Photovoltaic Glass market?
The global Solar Photovoltaic Glass market size reached US$ 9.32 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 34.88 Billion on by 2027, exhibiting a growth rate (CAGR) of 22.50% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is a Solar Photovoltaic Glass Market?
Specially designed construction glass known as solar photovoltaic (PV) glass uses transparent semiconductor-based solar or PV cells to convert solar energy into electricity. They come in a variety of varieties, including TCO Glass, coated glass, tempered glass, and anti-reflective glass.
In order to generate electricity, these solar photovoltaic glass variations are typically installed on the roofs, windows, skylights, facades, etc. of a whole structure. They help lower electricity costs and lessen the negative effects on the environment because they are a sustainable and renewable source of energy. As a result, solar photovoltaic glass models are widely used in residential, commercial, and industrial settings all over the world.
The market for solar photovoltaic glass is primarily being driven by the shifting preferences toward green construction as a result of the increased focus on sustainable development.
In addition to this, the launch of various favorable policies by government bodies across countries aimed at encouraging the adoption of renewable energy and promoting the development and upgrading of solar PV facilities is also boosting market expansion.
Another important aspect driving growth is the launch of novel products, such as ergonomic PV glasses with improved efficacy and superior thermal insulation.
In addition, the growing adoption of feed-in tariff (FIT) programs, which lower the cost of producing solar PV glass, is having a positive impact on the global market.
Additionally, the solar photovoltaic market is anticipated to grow over the predicted period due to key market players’ increasing investments in research and development (R&D) activities, rising worries about the depletion of fossil fuels, and expanding demands to stop environmental degradation.
What are the major market drivers in the Solar Photovoltaic Glass Market :
The shifting preferences toward green construction, on account of the increased focus on sustainable development, are primarily driving the solar photovoltaic glass market.
In addition to this, the launch of various favorable policies by government bodies across countries aimed at promoting the construction and upgradation of solar PV plants and encouraging the adoption of clean energy is further catalyzing the market growth.
Moreover, the introduction of innovative products, including ergonomic PV glasses that have higher efficacy and superior thermal insulation, is acting as another significant growth-inducing factor.
Apart from this, the elevating deployment of feed-in tariff (FIT) programs that reduce production costs of solar PV glass is also positively influencing the global market. Furthermore, the rising investments in research and development (R&D) activities by key market players, the escalating concerns about the depletion of fossil fuels, and the growing requirement to limit environmental degradation are expected to propel the solar photovoltaic market over the forecasted period.
|Solar Photovoltaic Glass Market Report Scope|
|Market size value in 2021||US$ 9.32 Billion|
|Market forecast in 2027||US$ 34.88 Billion|
|Growth Rate||CAGR of 22.50% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends|
|Segments covered||Type, Module And End Use Industry.|
|Regional scope||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Key companies profiled||AGC Glass Europe (AGC Inc), Borosil Limited, Compagnie de Saint-Gobain S.A., Flat Glass Group Co. Ltd., GruppoSTG, Interfloat Corporation, Kaneka Corporation, Nippon Sheet Glass Co. Ltd., Shenzhen Topraysolar Co. Ltd., Sisecam, Taiwan Glass Industry Corporation and Xinyi Solar Holdings Limited.Titanium Inc.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Type:
- Anti-Reflective Coated Glass
- Tempered Glass
- TCO Glass
Breakup by Module:
- Crystalline Silicon PV Modules
- Amorphous Silicon PV Modules
- Thin Film PV Modules
Breakup by End Use Industry:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
List of Major Key Players:
The major players in the market are AGC Glass Europe (AGC Inc), Borosil Limited, Compagnie de Saint-Gobain S.A., Flat Glass Group Co. Ltd., GruppoSTG, Interfloat Corporation, Kaneka Corporation, Nippon Sheet Glass Co. Ltd., Shenzhen Topraysolar Co. Ltd., Sisecam, Taiwan Glass Industry Corporation and Xinyi Solar Holdings Limited.
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
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