APAC Dominates: Solar Photovoltaic Glass Market Set to Surge by USD 135.33 Billion by 2030, Finds Maximize Market Research

PUNE, India, July 10, 2024 /PRNewswire/ -- The report provides an in-depth analysis of the strategies of the top players in the Global Solar Photovoltaic Glass industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities, and challenges is provided region-wise and segment-wise, in the Global Solar Photovoltaic Glass Market report. It also includes figures for import/export consumption, supply and demand, price, cost, revenue, and gross margins which makes it an investor's guide.

The data for the Global Solar Photovoltaic Glass Market report was collected using primary and secondary research methods, which were combined to make the report authentic. The primary research conducted includes the questionnaire distribution, surveys, and phone interviews with Global Solar Photovoltaic Glass industry experts, market leaders, marketing professionals, and entrepreneurs. The bottom-up approach has been used to estimate the global and regional Global Solar Photovoltaic Glass Market size. SWOT analysis was used to provide the strengths and weaknesses of Solar Photovoltaic Glass key players in the industry.

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The Solar Photovoltaic Glass Market size was valued at USD 22.35 Billion in 2023 and the total Solar Photovoltaic Glass revenue is expected to grow at a CAGR of 29.34% from 2024 to 2030, reaching nearly USD 135.33 Billion by 2030. APAC is estimated to contribute 44.89% to the growth of the global market during the forecast period. MMR's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory during the forecast period.

Competitive Landscape

The Solar Photovoltaic Glass Market includes the presence of several global as well as regional key players. A few prominent players that offer Solar Photovoltaic Glass in the market are AGC Solar (Japan), Taiwan Glass Ind. Corp. (Taiwan), Nippon Sheet Glass Co., Ltd. (Japan), Xinyi Solar Holdings Ltd. (China), Hecker Glastechnik GmbH & Co. KG (Germany), Sisecam Flat Glass (Turkey), Emmvee Toughened Glass Private Limited (India), Saint-Gobain Solar (France), Guardian Glass (Thailand), Borosil Glass Works Ltd. (India) and others.

What's New: Recent Additions and Updates

• A comprehensive cost-effectiveness and return on investment (ROI) analysis of the adoption of different types of solar PV glasses.
• Real-world examples of corporate use of advanced solar PV glasses and their benefits.
• Information on recent developments in solar photovoltaic glass technology, including new materials, coatings and manufacturing processes.
• Supply chain insights, including key suppliers, logistics challenges and efficiency opportunities.

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Key Player Offerings

• To meet the growing demand for dual-aspect solar panels, Xinyi Solar has introduced dual-angle solar glasses, which can capture sunlight from both sides of the panel. This material is characterized by high transparency and low metal content, and is coated with anti-reflective coatings on both sides, providing high energy availability and efficiency to systems in installation, including ceiling and floor systems.
• AGC Solar developed Sunlux® AR sunglasses, which are designed to improve solar panel performance by reducing glare and increasing brightness. An anti-reflective coating on this lens reduces glare and reflection, improving light transmission and energy conversion This material is designed to withstand environmental damage and separating edges, making them last longer.

For details on the key players and their offerings

Segment Overview

MMR has segmented the market based on Type (Anti-Reflective (AR) Coated, Transparent Conductive Oxide (TCO) Coated, Tempered, Others), By End User (Crystalline Silicon PV Modules, Thin Film PV Modules), Application (Utility, Residential, Non-Residential), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

The application segment of the global solar photovoltaic glass industry is segmented into utility, residential and non-trade. In 2023, the utilities segment will dominate the market, commanding almost 50% market share.  This growth is driven by the massive installation of solar panels around the world, which have provided reliable and clean energy with stable fuel costs for more than two decades.  While solar currently represents a small percentage of global electricity generation, installations for both transmission and distribution are rapidly expanding.  The utility application segment is expected to increase from 2024 to 2030, with an increase in utility-scale solar installations, with increasing government investment. Governments are offering tax breaks and incentives to businesses that build solar farms that transmit electricity to the grid. For example, the budget for renewable energy in China increased to $840 million by 2021, with about 55% allocated to the solar project. A similar trend is seen in less developed countries to reduce their dependence on fuel imports.

The report will offer a precise estimation of the contribution by various segments in the growth of the Solar Photovoltaic Glass market size.

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Geography Overview

In 2023, the Asia-Pacific region commanded the largest share of the Solar Photovoltaic Glass Market at 44.89% and is expected to grow at the highest CAGR of 32.48% during the forecast period. Rapid urbanization and population growth in developing countries such as India, China, Japan, Indonesia, South Korea and Malaysia are driving this growth. These countries have several variable power systems and critical infrastructure, forcing industry participants to invest in these areas to provide PV glass installations and the distribution has been increased. China accounted for more than 60.75% of the APAC solar PV glass market share by 2023 and is expected to maintain its dominance through 2030, citing its role as a key manufacturer, supplier and supplier of PV systems, R&D efforts which continues to improve the panel and reduce efficiency and reduction.

Europe was the second-largest market for Solar Photovoltaic Glass, valued at USD 6,490.46 million in 2023, and is expected to register a significant CAGR from 2024 to 2030. The region benefits from numerous solar systems for hot water, space heating, district heating and cooling, and electricity generation. Infrastructure development and government support for renewable energy technologies are expected to boost the European market. In particular, the UK is expected to see a significant increase in revenue due to ongoing government initiatives to encourage rooftop installations aimed at shifting to PV for power generation and extracting fossil fuels because of its gradual disappearance.

Global Solar Photovoltaic Glass Market 2023-2027: Key Highlights

• Historic Market Size 2017-2023
• CAGR of the market during 2024-2030.
• Detailed information on factors that will assist Solar Photovoltaic Glass market growth during the next seven years.
• An estimation of the Solar Photovoltaic Glass market size and the impact of the country's GDP on the Solar Photovoltaic Glass market.
• Forecasts on upcoming trends and changes in consumer behaviour.
• The growth of the Solar Photovoltaic Glass market
• The growth of the Solar Photovoltaic Glass market
• Analysis of the competitive landscape and detailed information on companies.
• Comprehensive details of factors that will impede the growth of Solar Photovoltaic Glass companies.

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