How Big Is the Solar Photovoltaic Glass Market?
The global solar photovoltaic glass market size reached US$ 178.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 211.9 Billion by 2028 exhibiting a CAGR of 12.1% during 2023-2028.
Industry Overview of Solar Photovoltaic Glass Market
Solar photovoltaic glass, often referred to as solar PV glass, is an innovative and sustainable building material that combines the functionality of traditional architectural glass with the capability to generate electricity from sunlight. This type of glass integrates photovoltaic cells directly into its surface, allowing it to harness solar energy and convert it into electricity while still maintaining its transparency and aesthetic appeal. Solar photovoltaic glass works by utilizing thin-film photovoltaic technology or crystalline silicon cells that are embedded within the glass panel. These cells capture sunlight and initiate a photovoltaic process, generating direct current (DC) electricity. This electricity can then be used to power various applications within a building, such as lighting, appliances, and even feeding excess energy back into the grid. One of the remarkable advantages of solar PV glass is its versatility in architectural design. It can be incorporated into windows, facades, skylights, and canopies, seamlessly integrating renewable energy generation into the building’s structure. This not only reduces the reliance on conventional energy sources but also contributes to energy efficiency and sustainability by utilizing otherwise underutilized surfaces for power generation.
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Solar Photovoltaic Glass Market Trends and Drivers:
The increasing demand for environmentally friendly construction methods driven by a heightened emphasis on sustainable development is a key driver propelling the solar photovoltaic glass market. This trend is further boosted by the implementation of favorable government initiatives aimed at supporting the establishment and enhancement of solar PV plants to encourage the adoption of clean energy sources on a global scale. Simultaneously, ongoing advancements in product design, including the introduction of more efficient and ergonomic photovoltaic glass options featuring enhanced thermal insulation, play a crucial role in fostering substantial market growth. Moreover, the decreasing production costs of solar PV glass, facilitated by the growing implementation of feed-in tariff (FIT) programs, are contributing significantly to the expansion of the market. In parallel, the escalating concerns regarding the depletion of fossil fuels and the pressing need to mitigate environmental deterioration are adding impetus to the worldwide market’s growth trajectory. Additionally, the active engagement of industry participants in extensive research and development (R&D) endeavors is anticipated to further propel the solar photovoltaic glass market in the foreseeable future.
Global Solar Photovoltaic Glass Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report 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.
The report segmented the market based on type, module and end use industry.
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:
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
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