Solar Photovoltaic Glass Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMEP1935 | Last Updated On: Jun 28 2022 | Available Formats

> Global Solar Photovoltaic Glass Market Expected to reach a high CAGR of 30.2% By 2029 | DataM Intelligence

Global Solar Photovoltaic Glass Market is segmented By Photovoltaic cell Type (Monocrystalline, Multicrystalline, Thick film, Amorphous and others ), By Application (Roof integration, Roof integration, Skylight, Facades, Sunshade, Curtain Wall, Canopy, Carports, Solar Parking lots ), By End User (Commercial Buildings, Residential Buildings, Industrial Buildings, and others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

Global "Solar Photovoltaic Glass Market" Expected to reach a high CAGR of 30.2%  during the forecasting period (2022-2029).

Solar photo voltaic glass shows the same mechanical properties as conventional, architectural glass used in construction. However, in addition, it also generates free and clean energy. Moreover, its optimized solar factor enhances thermal comfort inside the building, it completely offsets the energy demand for indoor air conditioning; and it drastically reduces the cost of electricity.

Solar photovoltaic glass market is segmented by type, application, end-user and geography. By type, the market is segmented into monocrystalline, poly- or multi crystalline, thick film, amorphous, and others. By application, the market is further segmented by Buildings. By application, this market is divided into roof integration, Skylight, facades, sunshade, curtain Wall, canopy, carports, solar parking whereas by geography the market is divided into North America, South America, Europe, Asia Pacific, and the Rest of the World.

Environmental friendly power generation technique and at the same time photovoltaic glass filters 99% of ultraviolet radiation (UV), which may have a harmful effect on interiors, furniture, and humans, and it reduces the transmission of infrared radiation by up to 90%. Given these user-friendly and safeguarding properties and environmentally safe energy production are the features that drive the market growth.

Market Dynamics

The use of energy in buildings represents a large share of the total end-use of energy. In the United Nations Economic Commission for Europe (UNECE) region, buildings are responsible for approximately one-third of total energy consumption and account for almost 40 percent of CO2 emissions from combustion. 

In U.S commercial buildings consume more energy than the transportation or industry sectors, accounting for nearly 40 percent of total U.S. energy use. Hence designers, developers, and owners search for ways to minimize the operating costs and environmental impacts of buildings.

Hence governments across the globe are focusing on energy efficiency and environmentally friendly techniques. In developed nations such as U.S and countries of Europe, strict energy efficiency standards are implemented in buildings, especially for commercial buildings. 

Moreover, Photovoltaic glass filters 99% of ultraviolet radiation (UV), which may have a harmful effect on interiors, furniture, and humans; and it reduces the transmission of infrared radiation by up to 90%. Given these properties, our PV Glass maximizes the performance of the building’s envelope, enabling buildings to become vertical power generators. on this note photo voltaic glass is viable safe and environmentally friendly energy producing technique will likely have robust growth across the globe in near future. 

This glass type is slightly costly when compared to the conventional glass material. However, The installation will then generate electricity, thus reducing its carbon footprint, and providing a better return on investment.

PV cell type segment Analysis

Based on PV cell type, the solar photovoltaic glass market is classified into monocrystalline, multicrystalline, thick film, amorphous, and others. Among the cell type monocrystalline is the dominant segment which accounts for XX% of the market.

Along with the efficiency and wattage of a solar PV panel. An utmost important aspect in solar PV glass is the type of solar panel glass used. The glass which is used in solar PV panels is of immense importance as it can make a big difference to the solar panel efficiency and therefore the yield of the solar PV system. 

Among the types of PV cells, the two major types of photovoltaic cell materials used are crystalline silicon and thin-film deposits, which vary from each other in terms of light absorption efficiency, energy conversion efficiency, manufacturing technology and cost of production. Crystalline silicon PV cells are the most common type of photovoltaic cell in use today and are also one of the earliest successful PV devices, representing about 90% of the market today.

Monocrystalline silicon is a type of photovoltaic cell material manufactured from a single crystal silicon structure which is uniform in shape because the entire structure is grown from the same crystal. 

Owing to this nature monocrystalline PV cells are ideal for transferring loose electrons through the material resulting in a high energy conversion efficiency. The conversion efficiency for a monocrystalline cell ranges between 15 to 20%.

Moreover, apart from efficiency, mono-crystalline photovoltaic cells are highly reliable for outdoor power applications due to their wafer thickness.

End-User segment Analysis

Based on End user, solar photovoltaic glass market is classified into buildings which include commercial buildings, residential buildings, industrial buildings, and others. Currently, commercial buildings are the dominant segment and it accounts for approximately XX% of the market.

Solar photovoltaic glass is an architecturally beautiful vision glass that can be used in locations not typically associated with solar panels, these include skylights, patios, and window openings, providing a see-through surface that generates electricity.
The services demanded of buildings such as lighting, warmth in the winter, cooling in the summer, water heating, electronic entertainment, computing, refrigeration, and cooking require significant energy use, due to growing electricity consumption in commercial buildings.

Currently, the commercial building industry is entering another era of change, with a view toward minimizing the footprint of nonrenewable energy sources and harmful effects on the environment.
Also in order to curb the environmental effects arising from the production of energy from nonconventional energy sources and decrease energy use governments are enforcing strict rules on commercial buildings to reduce their energy consumption through other alternative techniques.

Moreover, the government is encouraging other alternative viable alternatives to non-conventional energy sources by providing tax benefits and rebates for purchasing necessary equipment.  

In addition, commercial buildings continue to be buoyant in 2018, led by robust business confidence and bright prospects in the fast-growing economies in the world. Therefore the current favorable scenario for use of solar photovoltaic glass will likely to boost sales of current existing players and favor the entry of new players into the market.  

Geographical Analysis

The Asia Pacific Solar Photovoltaic Glass market size was worth USD XX million in 2019 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. North America is expected to grow with a high CAGR during the forecast period due to the major focus of the people and government towards bio-based products. 

The Asia-Pacific region led the solar PV glass market. China, India, Japan, and South Korea are the key countries contributing to the high demand for solar PV glass in the Asia-Pacific region. currently, infrastructure investment has been a key driver of economic development for countries in Asia Pacific.

The Asia-Pacific solar PV glass market is projected to witness significant growth during the forecast period, owing to the rising demand for solar energy and increasing initiatives undertaken by governments of different countries of the Asia-Pacific region to reduce emissions of greenhouse gases. 

In addition, the introduction of renewable sources of energy for the generation of electricity has also contributed to the growth of the solar PV glass market in the Asia-Pacific region. Residential consumers can leverage net metering incentives by installing solar PV systems on their rooftops. For this, they can receive credits for the power they supply to the grid.

Competitive Analysis:

Some of the major players include AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Henan Huamei Cinda Industrial Co., Ltd, Guangfeng Solar Glass

These key players mainly focus on new product launches, expansions, and mergers & acquisitions to enhance their position in the solar PV glass market.

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