Solar Photovoltaic Glass Market Scope
Increasing concerns about climate change, the health effects of air pollution, energy security and energy access, along with volatile oil prices in recent decades, have led to the need to produce and use an alternative, low-carbon technology options such as renewables. Solar photovoltaic has been one of the pioneering renewable technologies over the decades. The solar photovoltaic glass enables the conversion of light into electricity. These glasses incorporate transparent semiconductor-based photovoltaic cells, known as solar cells that are sandwiched between two sheets of glass. This enables the light to transfer through them producing solar energy. In the structure of the solar panels, Solar photovoltaic glass is placed on the top of silicon cells. Solar Photovoltaic Glass is used to transport solar energy. This shifting focus towards renewable energy sources has driven the global solar photovoltaic glass market.
The market study is being classified by Type (Anti-Reflective (AR) Coated, Tempered, Transparent Conductive Oxide (TCO) Coated and Others), by Application (Utility, Residential and Non-Residential) and major geographies with country level break-up. According to AMA, the Global Solar Photovoltaic Glass market is expected to see growth rate of 31.14% and may see market size of USD56.52 Billion by 2024.
In Solar Photovoltaic Glass Market, it has been observed that most of the companies are upgrading or introducing innovative products as well as are heavily investing in Research and Development (R&D) activities in order to gain a position in the global solar glass market. These companies rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.The Manufacturers having a strong hold in the market are AGC Solar, Nippon Sheet Glass, Xinyi Solar Holding, Saint-Gobain Solar. Research Analyst at AMA predicts that Europe, Asia Pacific Manufacturers will contribute to the maximum growth of Global Solar Photovoltaic Glass market throughout the predicted period.
AGC Solar (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Taiwan Glass Ind. Corp. (Taiwan), Xinyi Solar Holdings Ltd. (China), Sisecam Flat Glass (Turkey), Guardian Glass (Thailand), Saint-Gobain Solar (France), Borosil Glass Works Ltd. (India), Henan Huamei Cinda Industrial Co., Ltd. (China), Guangfeng Solar Glass (Hong Kong) Co., Ltd. (China), Flat Glass Co., Ltd. (China), Interfloat Corporation (Germany), Guangdong Golden Glass Technologies (China), Hecker Glastechnik GmbH & Co. KG (Germany), F Solar GmbH (Germany), Emmvee Toughened Glass Private Limited (India) and Euroglas (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Dongguan Csg Solar Glass Co., Ltd (China), Qingdao Migo Glass Co., Ltd. (China), F Solar GmbH (Germany), Avic Sanxin Co., Ltd. (China), Thermosol Glass (India) and Sunarc Technology A/S (Denmark).
AdvanceMarketAnalytics has segmented the market of Global Solar Photovoltaic Glass market by Type, Application and Region. On the basis of Type, Anti-Reflective (AR) Coated are dominating the market and held 41.94% of market share in the year 2018 where as Tempered Type stood as second largest market share and accounted for 35.61%.
On the basis of application, Utility segment is dominating the market and held 39.73% of market share in the year 2018 where as Non-Residential segment stood as second largest market.
On the basis of geography, the market of Solar Photovoltaic Glass has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2018. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In June 2018, Şişecam completed acquisition of Sangalli Vetro Manfredonia facility in Italy. Şişecam aimed to expand its product range and to become the largest manufacturer of architectural glass in Italy.
In May 2019, Nippon Sheet Glass, Co. Ltd. (NSG Group) entered into a joint development agreement between its subsidiary and Ubiquitous Energy, a leader in transparent solar technology. This agreement targets the development, manufacture, and integration of Ubiquitous Energy’s ClearView Power™ technology into architectural window glass that has the potential to produce solar electricity for buildings., and In June 2018, Solar glass manufacturer Gujarat Borosil planned to invest around INR 435 crore to more than double its manufacturing capacity of tempered solar glass facility by fiscal 2020.
In August 2019, The Ministry of New and Renewable Energy (MNRE) has issued a blueprint for the utilization, manufacture, disposal, and import of solar photovoltaic (PV) module and glass containing Antimony. Antimony is a chemical element that has been found to have hazardous effects on the environment. According to the MNRE, the management of PV modules needs to follow the cradle-to-grave life cycle assessment in four stages: component production, module manufacturing, module use, and end-of-life- use stage. The disposal should be done in an environmentally safe manner, and glass needs to be recycled following the principles of resource recovery, resource efficiency, and circular economy.
- Rising R&D Activities and Green Building Trends
- Supportive Policies and Initiatives of Various Governments Across the Globe
- Increasing Demand for Solar Systems in Residential Applications
- Rapid Industrialization And Urbanization in Emerging Nations
- Shifting Focus Towards Renewable Energy Sources Owing to the Increasing Environment Concerns
- Decreasing Costs of Solar Systems and Energy Storage Devices
- Increasing Prices of Fossil Fuels
- High Costs Involved in the Installation, Storage, and Purchase of Power Conversion Devices
- Stringent Implementation of Various Regulations for Carbon Dioxide Emissions
- Less Availability of High-Quality Solar PV Glass
Industrial development and population growth have led to a surge in the global energy demand for energy. Furthermore, global environmental concerns coupled with steady progress in renewable energy technologies is opening up new opportunities for utilization of renewable energy resources. Solar energy is the most abundant, inexhaustible and clean of all the renewable energy resources till date. To produce this energy solar photovoltaics glasses are widely used. This is anticipated to drive the global solar photovoltaic glass market.
Key Target Audience
Solar Photovoltaic Glass Manufacturers, Solar Photovoltaic Glass Traders, Suppliers, and Distributors, Government and Research Organizations, Associations and Industrial Bodies, Raw Material Suppliers and Distributors and Industry Associations
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