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Global PV Glass Market By Type (Anti-reflective Coated Glass, TCO Glass, Tempered Glass, Others), By Application (Utility, Residential, Non-Residential) and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2030.
PV Glass Market Overview
The PV glass market is estimated to reach USD 67.49 Billion by 2030, growing at a CAGR of 31.3% during the forecast period, 2022-2030. It was valued at USD 7.8 Billion in 2022. Growing demand for solar systems in emerging economies like residential, commercial and utility-scale and increasing installation of a utility-scale solar power plant across the globe. This, in turn, is anticipated to contribute to the PV glass market growth in the forecast period. Moreover, rising government investments and supportive government regulations towards installing solar PV plants propel the growth of the global PV glass market in the upcoming years. Additionally, rising awareness regarding the benefits of renewable energy solutions such as less global warming, inexhaustible energy, reliability and many others and technological advancements in the solar PV glass industry is anticipated to drive the global growth of the PV glass market.What is PV Glass?
Photovoltaic (PV) glass is a technology that enables solar cells to convert solar energy into electricity. PV glass uses the same principle as solar panels. By absorbing sunlight and using that light energy to create an electric current, PV cells generate electricity. It is highly popular and is installed within roofs, windows, and facades of buildings to produce power for an entire building.Growth Driver
The surge in demand for off-grid electricity systems
There is a major growth opportunity for photovoltaic glass manufacturers in the global market due to the development of off-grid electricity systems. Off-grid technology is one of the most feasible solutions to resolve electricity issues across the world. This will fuel the growth of the global PV glass market. However, the major factor restraining the growth of the global PV glass market is the high cost associated with the purchase, storage and installation of solar PV glass and large dependence on climatic conditions.Pre Covid-19 impact
Factors such as a boost in demand for renewable energy and a surge in demand for solar systems in various applications drive the market growth for PV glass. Additionally, rising global urbanization and the increasing need for better infrastructures had created several opportunities for the PV glass market in the Pre-covid era.Covid-19 impact
Coronavirus disease (COVID-19) is a global public health disease that has brought serious social, medical and economic challenges in every industry. WHO has declared COVID-19 a public health emergency. The spread of COVID-19 is generating an enormous disruption in the everyday activities of people. As coronavirus crises took over the world and led to curfews and lockdown, which impacted many businesses worldwide, countries across the globe are trying to prevent further contagion by adopting various measures such as social distancing, testing, quarantine, and many others.Post Covid-19 impact
COVID-19 pandemic has affected the growth of the PV glass market due to the worldwide lockdown, supply disruptions and economic challenges. Since the COVID-19 virus outbreak in December 2019 resulted in a decrease in the demand for the PV glass market across several sectors. Therefore, with the explosion of the COVID-19, the market will grow at a low rate for PV glass across the globe, which has negatively impacted the PV glass market value in 2020 and subsequent years.Type Segmental Analysis
The PV glass market is segregated into anti-reflective coated glass, TCO glass, tempered glass, and other types based on the type. The anti-reflective coated glass segment is likely to have the highest market share in the type segment for the PV glass market. However, the tempered glass segment is projected to grow with a higher CAGR throughout the forecast period since most solar panels are made of tempered glass. Tempered glass is much stronger than any other glass and is shattered into thousands of small pieces. When broken, that won’t be harmful.Application Segmental Analysis
Based on the application, the PV glass market is bifurcated into utility, residential, and non-residential. The utility segment will dominate the PV glass market by 2030. This is because utility-scale solar plants offer several benefits, such as less energy loss and fixed price electricity when fossil fuels are expensive during peak demand periods. However, the residential segment is projected to grow with a higher CAGR throughout the forecast period.Region Segmental Analysis
The PV glass market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is estimated to project considerable growth over 2022-2030. Due to the surge in demand for solar energy, a rapid rise in the development of renewable power and supportive initiatives undertaken by the government in the region. However, Europe will have a prominent share in the PV glass market by 2030, owing to the rapidly increasing rising population and development of infrastructure in the region.Competitor Analysis
Companies include Onyx Solar Group LLC, Borosil Glass Works Limited, Trina Solar, Brite Solar, Shenzhen Topray Solar Co. Ltd., Jinko Solar, Mitsubishi Electric Corporation, INFINI Co. Ltd., Nippon Sheet Glass Co. Ltd., Sun Power Corporation are the key players in the global PV glass market.Key Stakeholders
- Market research and consulting firms
- PV glass manufacturers
- Investors
- Research organizations and consulting companies
- Technology providers
- Regulatory bodies
Scope of the Report
| Report Attribute | Details |
|---|---|
| Market Size Value in 2020 | USD 5.88 Billion |
| The revenue forecast in 2027 | USD 37.49 Billion |
| Growth Rate | CAGR of 30.3% from 2020 to 2027 |
| Historical data | 2017-2019 |
| Forecast period | 2021-2027 |
| Region covered | America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Onyx Solar Group LLC, Borosil Glass Works Limited, Trina Solar, Brite Solar, Shenzhen Topray Solar Co. Ltd., Jinko Solar, Mitsubishi Electric Corporation, INFINI Co. Ltd., Nippon Sheet Glass Co. Ltd., Sun Power Corporation |
Recent Developments
- In February 2020, FuturaSun presented a monocrystalline PERC panel with a 60-cell dual-glass construction and 320-330 W power output. Two connected 2 mm tempered glass sheets are touted to provide optimal mechanical strength, excellent resistance, and durability, giving the Duetto module multiple resistance against bad weather.
- In August 2017, The Dow Chemical Company and EI du Pont de Nemours & Company accomplished a successful merger to boost their position in the market for PV glass.
- In 2017, Skanska and Saule Technologies announced their collaboration. The main purpose of their collaboration was to develop photovoltaic glass for green office buildings.
- In November 2018, DuPont Photovoltaic Solutions merged with GCL System Integration Technology Co. Ltd to integrate their position in the market and aim to meet the increasing demands of consumers.
Market Modelling
By Type- Anti-reflective Coated Glass
- TCO Glass
- Tempered Glass
- Others
- Utility
- Residential
- Non-Residential
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five forces analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10. PESTEL Analysis
4.11. Covid-19 Impact on Global PV Glass Market
- Global PV Glass Market Overview
5.1. Market Size & Forecast,2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Type
5.2.1.1. Anti-reflective Coated Glass
5.2.1.2. TCO Glass
5.2.1.3. Tempered Glass
5.2.1.4. Others
5.2.2. By Application
5.2.2.1. Utility
5.2.2.2. Residential
5.2.2.3. Non-Residential
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia-Pacific
5.2.3.4. South America
5.2.3.5. The Middle East & Africa
- North America PV Glass Market Overview
6.1. North America PV Glass Market Size & Forecast,2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.2. Market Share & Forecast, 2017-2030
6.2.1. By Type
6.2.1.1. Anti-reflective Coated Glass
6.2.1.2. TCO Glass
6.2.1.3. Tempered Glass
6.2.1.4. Others
6.2.2. By Application
6.2.2.1. Utility
6.2.2.2. Residential
6.2.2.3. Non-Residential
6.2.3. By Country
6.2.3.1. US
6.2.3.2. Canada
6.2.3.3. Mexico
6.2.4. Company Market Share (Top 3-5)
6.2.5. Economic Impact study on North America PV Glass Market
- Europe PV Glass Market Overview
7.1. Europe PV Glass Market Size & Forecast,2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.2. Market Share & Forecast, 2017-2030
7.2.1. By Type
7.2.1.1. Anti-reflective Coated Glass
7.2.1.2. TCO Glass
7.2.1.3. Tempered Glass
7.2.1.4. Others
7.2.2. By Application
7.2.2.1. Utility
7.2.2.2. Residential
7.2.2.3. Non-Residential
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. UK
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Rest of Europe
7.2.4. Company Market Share (Top 3-5)
7.2.5. Economic Impact study on Europe PV Glass Market
- Asia-Pacific PV Glass Market Overview
8.1. Asia-Pacific PV Glass Market Size & Forecast,2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.2. Market Share & Forecast, 2017-2030
8.2.1. By Type
8.2.1.1. Anti-reflective Coated Glass
8.2.1.2. TCO Glass
8.2.1.3. Tempered Glass
8.2.1.4. Others
8.2.2. By Application
8.2.2.1. Utility
8.2.2.2. Residential
8.2.2.3. Non-Residential
8.2.3. By Country
8.2.3.1. India
8.2.3.2. Japan
8.2.3.3. Australia
8.2.3.4. Rest of Asia Pacific
8.2.4. Company Market Share (Top 3-5)
8.2.5. Economic Impact study on Asia-Pacific PV Glass Market
- South America PV Glass Market Overview
9.1. South America PV Glass Market Size & Forecast,2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.2. Market Share & Forecast, 2017-2030
9.2.1. By Type
9.2.1.1. Anti-reflective Coated Glass
9.2.1.2. TCO Glass
9.2.1.3. Tempered Glass
9.2.1.4. Others
9.2.2. By Application
9.2.2.1. Utility
9.2.2.2. Residential
9.2.2.3. Non-Residential
9.2.3. By Country
9.2.3.1. Brazil
9.2.3.2. Argentina
9.2.3.3. Rest of South America
9.2.4. Company Market Share (Top 3-5)
9.2.5. Economic Impact study on South America PV Glass Market
- The Middle East & Africa PV Glass Market Overview
10.1. The Middle East & Africa PV Glass Market Size & Forecast,2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.2. Market Share & Forecast, 2017-2030
10.2.1. By Type
10.2.1.1. Anti-reflective Coated Glass
10.2.1.2. TCO Glass
10.2.1.3. Tempered Glass
10.2.1.4. Others
10.2.2. By Application
10.2.2.1. Utility
10.2.2.2. Residential
10.2.2.3. Non-Residential
10.2.3. By Country
10.2.3.1. Saudi Arabia
10.2.3.2. UAE
10.2.3.3. South Africa
10.2.3.4. Rest of the Middle East & Africa
10.2.4. Company Market Share (Top 3-5)
10.2.5. Economic Impact study on The Middle East & Africa PV Glass Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile
11.7.1. Onyx Solar Group LLC
11.7.2. Borosil Glass Works Limited
11.7.3. Trina Solar
11.7.4. Brite Solar
11.7.5. Shenzhen Topray Solar Co. Ltd.
11.7.6. Jinko Solar
11.7.7. Mitsubishi Electric Corporation
11.7.8. INFINI Co. Ltd.
11.7.9. Nippon Sheet Glass Co. Ltd.
11.7.10. Sun Power Corporation
11.7.11. Other prominent players
Frequently Asked Questions (FAQ):
Photovoltaic (PV) glass is a technology that enables solar cells to convert solar energy into electricity. By absorbing sunlight and using that light energy to create an electric current, PV cells generate electricity.
The PV glass market is estimated to reach USD 67.49 Billion by 2030, growing at a CAGR of 31.3% during the forecast period, 2022-2030. It was valued at USD 7.8 Billion in 2022.
The major drivers for the PV glass market are a surge in demand for off-grid technology and growing demand for solar systems in emerging economies like residential, commercial and utility-scale.
The Asia Pacific is expected to project considerable growth over 2020-2026 due to the surge in demand for solar energy, the rapid rise in the development of renewable power and supportive initiatives undertaken by the government in the region.
Onyx Solar Group LLC, Borosil Glass Works Limited, Trina Solar, Brite Solar, Shenzhen Topray Solar Co. Ltd., Jinko Solar, Mitsubishi Electric Corporation, INFINI Co. Ltd., Nippon Sheet Glass Co. Ltd., Sun Power Corporation are the prominent players in the global PV glass market.
