When Solar PV Glass Market Is Going To Touch Its Highest Revenue CAGR?

The market for solar photovoltaic glass was estimated to be worth USD 4.42 billion in 2021 and therefore is anticipated to grow to USD 84.14 billion by 2029, with a CAGR of 30.80% between 2022 and 2029.

Solar PV Glass Market Research Report Overview

The market for solar photovoltaic glass was estimated to be worth USD 4.42 billion in 2021 and therefore is anticipated to grow to USD 84.14 billion by 2029, with a CAGR of 30.80% between 2022 and 2029. Because of high efficiency and straightforward manufacturing procedures, "crystalline silicon PV modules" make up the majority of the industry for solar photovoltaic glass. The industry research covers import/export data, pricing analysis, detailed expert analysis, production consumption analysis, as well as a weather chain scenario.

Solar photovoltaic (PV) glass is a kind of glass that uses solar cells to transform solar energy into electricity. It is put in place on building roofs or facades to produce enough energy to run the entire thing. In these glasses, a particular resin filler is used to hold solar cells in place between two glass panes. These polymers are tightly encased around the solar cells on all sides. Every cell in a module is joined to neighboring cells by 2 electrical connections.

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Due to the shrinking disparity between the price of solar energy generation as well as other related costs, as well as numerous government subsidies are given to photovoltaic businesses and organizations in nations like the People's Republic of China as well as the United Kingdom, and the price of solar power panels is falling at an astounding rate across the globe.

Market Segmentation

By Type

  • Anti-reflective (AR) coated
  • Tempered
  • Transparent conductive oxide
  • Others

By Module

  • Crystalline Silicon Modules
  • Thin-Film Modules
  • Amorphous Silicon Modules
  • Others

By Application

  • Utility
  • Non-Residential
  • Residential

By Region

  • North America
  • Asia Pacific (APAC)
  • Europe
  • The Rest of the World (RoW)

Regional Classification

Key regional markets for photovoltaic glass include Europe as well as Mainland China, with Europe controlling the majority of the market revenue. As seen by a 7.4X increase in energy consumption during the forecast timeframe, mainland China is likely to encounter the fastest rate of growth.

The photovoltaic glass industry in North America is anticipated to grow at a high CAGR in terms of value-energy consumption over the forecast period, whereas the industry in Mainland China is anticipated to represent a large incremental opportunity over the years ahead.

The industries in Latin America and MEA are still in their infancy, and over the projected period, the increase is anticipated to be noticeably slow.

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Industry News

In the upcoming years, it is projected that the cost of implementing solar power technology will drop by 4% yearly, forcing nations to adopt solar power as a workable source of energy. Solar modules, photovoltaic glass, power electronics, mounting hardware, and installation are all included in the total solar panels' price.

The growth of off-grid electricity solutions offers producers in the photovoltaic glass industry space tremendous potential opportunities. Off-grid technology is viewed as the most practical way to fix electricity concerns in deep pockets across important developing nations of the world, where more than a billion people live without access to electricity.

In regions such as windows, roofs, skylights, and facades, solar PV glass is rapidly taking the place of conventional building materials, which is projected to make it fairly popular. Additionally, the commercial and industrial sectors in developing countries have a high need for solar photovoltaic glass, which propels market expansion.

The market for solar photovoltaic glass should increase at a faster rate due to rising awareness of the advantages of renewable energy sources and the constant need to stop environmental deterioration.

Key Players

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