Solar PV Glass Market to Rise at Robust 34% CAGR over 2020-2027 Forecast Period

Market research future published a half cooked research report on Global Solar PV Glass Market. The Solar PV Glass Market is estimated to reach USD 19 Bn by 2023.

Market Research Future has announced a new release on the global solar PV glass market. The report takes into account all the major aspects of the market’s present performance to deliver a clear picture of its growth prospects over the 2018-2023 forecast period. According to the report, the global solar PV glass market is expected to exhibit a solid 34% CAGR over the 2018-2023 forecast period.

The key driver for the global solar PV glass market is the increasing government support to renewable energy initiatives that aim to incorporate renewable energy production on a wide scale in various applications. This is likely to be a major driver for the solar PV glass market over the forecast period, as significant government support is needed for advanced research into solar PV glass. The progressive reduction in the prices of solar PV glass hand in hand with the development of the technological framework of the sector is also likely to be a major driver for the solar PV glass market over the forecast period. The growing contribution of the residential sector in the solar PV market is likely to make the latter especially important for the solar PV glass market, as residential consumers are more sensitive to the prices of technological innovations like solar PV glass than industrial or commercial users.

The global solar PV glass market was valued at USD 4.5 billion in 2017 and is expected to rise to USD 19 billion by 2023.

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Segmentation:

The global solar PV glass market is segmented by type, module, application, and region.

By type, the solar PV glass market is segmented into anti-reflective coated, transparent conductive oxide, tempered, and others. Anti-reflective coated glass is likely to remain the largest product segment in the global solar PV glass market over the forecast period due to its relative ease of operation and use.

By module, the solar PV glass market is segmented into crystalline silicon modules, amorphous silicon modules, thin film modules, and others. Of these, crystalline silicon modules are expected to be the major contributor to the global solar PV glass market over the forecast period.

By application, the global solar PV glass market is segmented into utility, residential, and non-residential. The residential sector is the leading consumer of solar PV glass and is likely to retain this position over the forecast period due to the growing awareness about environmental initiatives among average residential consumers.

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Regional Analysis:

Geographically, the global solar PV glass market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Europe is likely to dominate the global solar PV glass market due to the high amount of awareness among consumers about the importance of initiatives such as solar PV glass. There is considerable public will in Europe to shift to renewable energy as soon as possible, with the governments in the region also supporting widespread adoption of renewably energy generation mechanisms. This has led to widespread adoption of measures such as solar PV glass. The growing government support in these regions to the renewable energy sector is likely to ensure the dominance of Europe in the global solar PV glass market over the forecast period.

Competitive Analysis:

Leading players in the global solar PV glass market include Hanwha Q CELLS Co., Saint-Gobain S.A., Guardian Industries, Yingli Green Energy Holding Company Ltd., Xinyi Solar Holding Ltd., Nippon Sheet Glass Co. Ltd., First Solar Inc., ReneSola Ltd., and Sun Power Corporation.

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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