Solar PV Glass Market by Revenue, Growth Rate and Forecast to 2030 | MRFR
Research Reports
Mar 08, 2022
Solar PV glass has transparent photovoltaic and solar cells that operate the same way that semiconductors do integrate into it. The result is an abundance of energy that can be converted into various forms – electrical, heat, etc…
The world is currently growing much more aware of the need to safeguard the environment. Therefore, the global masses have become obsessed with green and alternative energy. Solar PV glass generates both types of energy. Therefore, more and more homeowners and business owners are using this type of glass in new residential and commercial buildings. Older buildings (both residential and commercial) are also being remodeled with Solar PV glass panels.
The Solar PV Glass Market is expected to register a CAGR of 34% from the years spanning 2018 to 2023. Solar panels use photovoltaic technology to capture energy from natural Sunlight and convert it into electrical and other forms of energy. Solar PV glass operates off of the same technology.
The Solar PV Glass Market was worth USD 4.5 billion in 2017. It’s expected to be valued at USD 19 billion by the end of next year.
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Many Solar PV glass manufacturers are capitalizing on this fact. They understand that the market is very lucrative. That’s why they’re investing heavily in research and development. The objective is to develop glass panels that can convert even more Sunlight into various forms of energy faster and more efficiently. Another objective that these companies have is to sell these panels to the global masses at much lower price points.
Industry news
Sun Power corp recently launched a new and more energy-efficient Solar PV glass panel for the residential market.
Segment overview
By type
This segment can be grouped into the following sub-segments:
- Anti-reflective coated
- Transparent conductive oxide
- Tempered
- Others
The tempered sub-segment currently has the greatest market share. This trend is expected to continue for the time period that this report covers. The reason for this is that tempered panels tend to be stronger. Therefore, they last longer and are much more efficient in terms of converting Sunlight into various forms of energy.
By module
The module segment can be grouped into the following sub-segments:
- Crystalline silicon modules
- Amorphous silicon modules
- Thin-film modules
- Others
By application
The application segment can be grouped into the following sub-segments:
- Utility
- Residential
- Non-residential
The utility sub-segment currently has the greatest market share. It’s also expected to register the highest CAGR for the time period that this report covers. The reason is that power plants that use utility solar PV glass panels can generate more electrical energy. Therefore, they can keep the price of electricity and other types of energy lower when these types of energy are in very high demand.
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Regional analysis
The global solar PV glass market can be grouped into the following regions:
- North America
- The European Union
- Asia-Pacific
- The Rest of the World
The Asia-Pacific and the Latin American regions are expected to register the highest CAGR for the time period that this report covers. The reason is that these regions are industrializing, modernizing, and urbanizing rapidly. The masses in these regions are also becoming more environmentally conscious. Therefore the demand for Solar generated energy is skyrocketing.
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