Solar PV Glass Market size surpassed USD 2 billion in 2016 and is poised to grow at a CAGR of over 6.9% between 2016 and 2024. The global industry demand is expected to reach 700 million square meters by 2024.
Stringent policies and regulations pertaining to clean energy adoption coupled with laws to curb greenhouse gas emissions will boost the market revenue. Moreover, favorable government initiatives to encourage the adoption of sustainable energy for building envelopes will positively influence the market size.
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Growing investments to explore the untapped photovoltaic potential among developing countries will stimulate the market growth. Additionally, positive outlook towards renewable industry along with introduction of subsidies and rebates will further fuel the market growth.
|Solar PV Glass Market Size in 2016:||2 Billion (USD)|
|Forecast Period:||2017 to 2024|
|Forecast Period 2017 to 2024 CAGR:||6.9%|
|2024 Value Projection:||3 Billion (USD)|
|Historical Data for:||2013 to 2016|
|No. of Pages:||310|
|Tables, Charts & Figures:||755|
|Segments covered:||Technology, Product, End Use and Region|
|Pitfalls & Challenges:|
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The levelized cost of new PV plants in the U.S. have decreased significantly over years owing to Investment Tax Credit (ITC) policy of the country, boosting the installation of solar PV systems.
The float solar PV glass segment will experience significant growth through 2024 impelled by its key qualities including easy manufacturing process, uniform thickness, architectural applications, and cost effectiveness. The technology on account of its high light transmittance, low reflectance and high flatness holds extensive applications in thin film PV modules.
Pattern technology segment is projected to witness gains of over 6% till 2024. Non-smooth surface and impressed patterns makes its adoption preferable among crystalline and CIGS photovoltaic modules. These technologies provide a non-blinding effect, better aesthetics, desired transparency degree and easy laminations over modules.
Annealed solar PV glass demand was over 300 million square meters in 2016 and is estimated to grow considerably from 2016 to 2024. This can be attributed to cost competitiveness, easy manufacturing process and easy availability of the product. These products are not heat strengthened and delivers easy cutting, edging, machining and polishing of the glass on panels.
Toughened / tempered solar PV glass market is predicted to expand at 7% CAGR during the forecast period owing to its high resistance and effective safety edge features than other counterparts. Additionally, these products provide high mechanical strength and better thermal stress breakage.
The crystalline silicon module end-use segment is anticipated to dominate the market share throughout the projected timespan driven by its high efficiency and uncomplicated manufacturing processes. Low iron float and pattern glasses are primarily used in the manufacturing of the crystalline modules.
Thin-film CIS / CIGS module accounted for over 9% market revenue share in 2016. Growing measures to reduce the panel dimensions by subsequently improving efficiency index will positively enhance the market size.
U.S. market demand in 2016 was over 90 million square meters and is set to grow substantially till 2024. Measures towards energy security along with stringent government regulations to deploy sustainable energy will propel the industry growth.
China held more than 50% of the global solar PV glass market share in 2016 and will continue its dominance till 2024. The country stands as the major producer, exporter and consumer of PV systems and strives to conduct R&D initiatives to improve efficiency and costs of panels.
The UK industry revenue is predicted to observe exponential gains in the coming years propelled by stringent government regulations against carbon emissions and ongoing government program towards rooftop installation. The government is primarily aiming to adopt PV for generation and abolish polluting fossil fuel usage.
In Latin America, the Chile market is expected to witness lucrative growth of over 10% during the forecast timeframe. Untapped potential coupled with rising investments in PV module installation will positively impact the industry size.
Key companies operating in the market include :
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The above information is provided on a regional and country basis for the following: