In 2016, the global market for solar PV glass was worth USD 3.23 billion. In the next few years, the main driver of market growth will be the growing focus on clean energy sources.
Renewable energy can be a more affordable option to fossil fuel-based electricity. It can be used to reduce our dependence on fossil fuels and coal, as well as reduce greenhouse gas emissions, air pollution, and diversify the power supply. The global market is being driven by a growing political and social consensus for clean energy generation.
There are several key trends in the global solar PV market that will play an important part in the future. Global market growth is expected to be boosted by declining prices for solar PV glass over the forecast period. However, market growth will be slowed by the cost-intensive R&D efforts to create new and better PV glass varieties.
In 2016, the U.S. market was worth USD 0.69 billion. In order to ensure a sustainable future, the U.S. government invests in solar energy plants. The International Energy Agency (IEA) reports that the U.S. government passed a multi-year extension to tax credits for renewable energy plants, such as concentrating sun power (CSP), and PV glass stations. For the operation and installation of these renewable energy plants, the government has established state-level environmental policies. These trends have benefited the market.
The increased funding for solar PV research in developing countries indicates that solar energy will be the future of energy generation. In May 2017, the International Solar Alliance announced a funding of USD 300 Billion to support the use of sustainable energy over the next few years. Softbank announced funding in the amount of USD 100 million to support Indian installations. Market growth will be driven by the continuing trend of green energy and strict norms to lower greenhouse gas emissions.
Market growth will be driven by the increasing importance of limiting greenhouse gases. Manufacturers are making efforts to expand their product range and create superior products to meet the changing needs of customers. This type of glass is mainly manufactured in China. Europe saw the highest number of installed units in 2016, while Asia Pacific is expected to see significant growth between 2017 and 2025 due to the rapidly expanding construction industry in emerging countries like China and India. Existing and new industry players have ample opportunity to participate in R&D to develop superior PV glasses.
Utility accounted for 49.3% market share and was the largest revenue segment in 2016. Over the next eight year, the utility segment will see an increase in demand for energy resources that are efficient and competitive.
The utility sector has seen solar PV glass become more popular for both small-scale and large-scale power generation. Easy installation and low prices are the main reasons for the high demand in the utility sector. It's used in many utility applications, including PV panels on buildings facades, powering specific equipment, cogeneration power systems, solar energy home at roof tops and small and large power generation plants. These trends have benefited the demand for solar PV glasses in utility applications.
The residential solar PV capacity will be driven by rapid urbanization, rising disposable income and increasing awareness about clean energy usage. This will benefit the glass market. To encourage rooftop solar system installation, governments are running awareness programs. These projects are also eligible for subsidies. These trends will benefit the overall segment's growth between 2017 and 2025.
The design of solar PV systems is now more robust to withstand extreme environments, which helps offset the maintenance and upgrading costs. In order to meet sustainability goals, there has been an increase in the adoption of solar PV installations by commercial entities, government institutions, and non-profit organizations. These factors will benefit the non-residential market.
North America will see the fastest CAGR of 27.1% in terms of volume over the next eight year. North America saw a 17% increase in solar system installations in 2016, compared to 2015. One example of such a power plant is Mojave Project. It was completed in 2014 and is located in Barstow in California. Market growth is expected to be boosted by the increasing interest in renewable energy and the growing number of solar energy plant installations.
Asia Pacific will be the largest market at the end of the forecast period. China, South Korea and Japan are experiencing rapid urbanization and increased population. These countries are plagued by unreliable power lines and basic infrastructure systems. This will encourage industry players to invest in these developing countries, which could boost the growth of PV glass installations as well as distribution grids.
Over the next eighteen years, significant growth is expected in Europe. This region has a large number of solar energy systems that can be used for power generation, space heating, water heating and district heating. According to the IEA, the region saw approximately 215,000 solar and battery-powered vehicles sold in 2015. Over the next eight years, the market will be driven by the highly developed infrastructure and the tireless efforts of the regional government in promoting and using renewable energy technologies.
Due to the presence well-established players, the global market is highly competitive. Saint-Gobain and Yingli Green Energy Holding Company Ltd. are major players in the global market.
Different sourcing strategies are used by manufacturers across the value chain. Manufacturers have the option to cut costs and source their raw materials from other manufacturers. So, PV glass products can be distributed through different channels. The final products are also distributed by system integrators, in addition to dedicated distributor companies.
This report predicts revenue growth at both the country and global levels. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global market for solar PV glass on the basis of region and application.
Application Outlook (Volume: Million Square Meter; Revenue: USD Million, 2014-2025)
Residential
Non-residential
Utility
Regional Outlook (Volume: Million Square Meter; Revenue: USD Million, 2014-2025)
North America
The U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Asia Pacific
China
India
Pakistan
Japan
Central & South America
Middle East & Africa
Up Market Research published a new report titled “Solar PV Glass Market research report which is segmented by Application (Non-Residential, Utility, Residential), By Players/Companies Trina Solar Ltd, Yingli Green Energy Holding Company Ltd, Guardian Industries, Saint-Gobain, Asahi Glass Co, Nippon Sheet Glass Co, Ltd, Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Solar PV Glass Market Research Report |
By Application | Non-Residential, Utility, Residential |
By Companies | Trina Solar Ltd, Yingli Green Energy Holding Company Ltd, Guardian Industries, Saint-Gobain, Asahi Glass Co, Nippon Sheet Glass Co, Ltd, Ltd |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 212 |
Number of Tables & Figures | 149 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Non-Residential, Utility, Residential).
Solar PV Glass Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Solar PV Glass Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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