Increasing Demand for Renewable Energy to Drive Demand for Solar PV Glass

Global Solar PV Glass Market Research Report Forecast to 2023 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023

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Global Solar PV Glass Market Forecast to 2023 Global Solar PV Glass Market - Overview Solar photovoltaic (PV) glass is an interesting technology which harnesses solar energy for conversion to electricity. Solar PV glass is a specially made glass which sandwiches transparent semiconductor-based PV cells. Market Research Future's study of the global solar PV market has found the market is set to witness expansion at a staggering CAGR of 34% during the assessment period. Valued at USD 4.5 Bn in 2017 and is expected to grow explosively to reach a market value of USD 19 Bn by the end of 2023.

Solar PV glass is a recent development in the solar energy market and is making big waves in the renewable energy sector. At the current rapid growth of adoption, it is highly conceivable that solar PV glass may replace traditionally used materials over the course of the coming years. Renewable energy solutions have been gaining traction across the globe due to its many benefits and reduced reliance on non-renewable energy making it the more sustainable option. Moreover, solar PV glass technology is increasingly cost-effective due to the ongoing R&D activities and increasing deployment of solar energy solutions.

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The increased demand for environmentally conscious and sustainable sources of energy is largely due to the production of harmful emissions and other issues which have contributed to poor air quality among other problems. The need to reduce the global carbon footprint is highly encouraging of the global solar PV market over the assessment period. Several factors are expected to help improve growth over the market, including the presence of government support for the adoption of renewable energy technology and the growth of green building construction projects.

However, the market is helping back by the high cost associated with the installment of solar PV cells which can vary from region to region. Emerging and developing economies tend to have higher costs associated with solar PV glass, which hinders market growth.

Presently, many market players are engaged in developing fully transparent solar PV glass as it has a wider number of potential applications which will offer the market huge opportunities for growth.

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Global Solar PV Glass Market Forecast to 2023

Global Solar PV Glass Market - Industry Updates July 2016: ClearVue Technologies has recently inked a deal with BeyondPV, a Chinese company, to set up a production line for solar strip modules at a production facility based in Tainan. The deal aims to work cooperatively to increase shipments and production.

Xinyi Solar is looking to raise its glass production capacity by spinning off its solar project operations by way of a float. The company plans to acquire extra funding by offering shares in its solar farm operations. This extra funding can then be used for the company’s solar glass production units.

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Global Solar PV Glass Market Forecast to 2023 MARKET SEGMENT Global Solar PV Glass Market - Segments The solar PV glass market is segmented on the basis of type, module, and application.

By type, the solar PV glass market is segmented into transparent conductive oxide, anti-reflective (AR) coated, tempered, and others. Of these, the anti-reflective (AR) coated type is likely to gain significant traction in the long run. The growth can be attributed to its ease of operation and use.

By module, the solar PV glass market is segmented into amorphous silicon modules, crystalline silicon modules, thin-film modules, and others. Among these, the crystalline silicon modules segment is predicted to be the major contributor.

By application, the market comprises residential, utility, and non-residential. Of these, the residential sector is predicted to gain prominence and retain its position in the long run. The growth is credited to the soaring awareness regarding environmental initiatives among average residential consumers.

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Global Solar PV Glass Market Forecast to 2023 KEY PLAYER Key Players:

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Xinyi Solar Holding Ltd., First Solar Inc., Yingli Green Energy Holding Company Ltd., Nippon Sheet Glass Co. Ltd., ReneSola Ltd., Sun Power Corporation, Saint-Gobain S.A, Guardian Industries, and Hanwha Q CELLS Co.

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