Solar photovoltaic glass market size is projected to reach USD 21.1 billion by 2027 from USD 6.2 billion in 2022 growing at a CAGR of 27.9%. Solar Photovoltaic Glass, also known as solar PV glass or solar glass, refers to a specialized type of glass that is designed to generate electricity from sunlight. It combines the functionality of traditional glass with the energy-producing capabilities of photovoltaic (PV) technology. Solar Photovoltaic Glass is typically made by integrating thin-film solar cells or crystalline silicon solar cells into the glass structure during the manufacturing process. These solar cells are responsible for converting sunlight into electricity through the photovoltaic effect. The glass serves as a protective and supportive layer for the solar cells, allowing them to function effectively while maintaining transparency. The main purpose of Solar Photovoltaic Glass is to capture solar energy and convert it into usable electricity. It finds applications in various sectors, including building and construction, where it can be integrated into windows, skylights, facades, and other architectural elements. Solar Photovoltaic Glass can also be used in solar panels, solar modules, and other photovoltaic systems.
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AR-coated solar PV glass to hold the largest share in the global solar PV glass market through the forecast period.
The solar PV glass industry has been segmented based on type into AR-coated solar PV glass, tempered solar PV glass, TCO-coated solar PV glass, and others. The AR-coated segment accounted for the dominant share of the market in 2021. The dominance of this segment is attributed to the high efficiency of these glasses in conversion of solar energy. Also, they can be easily placed in sensitive surroundings such as airports. On the other hand, TCO-coated solar PV glass have better transmission of energy, which is expected to lead this segment to grow with the highest CAGR during the forecast period.
Utility segment to grow at the fastest rate during the forecast period.
The solar PV glass industry has been segmented based on application into residential, non-residential, and utility. The utility segment is projected to grow with the fastest CAGR during the forecast period. The growth in this segment is attributed to the conducive support of governments across the globe to set up of solar energy farms. Governments are providing subsidies and tax rebates to companies setting up solar farms for feeding energy into the grid. For instance, in China, the budget for renewable energy rebates was increased to USD 840 million for 2021, of which about 55% was allocated to the solar power industry. A similar trend is observed across the globe, even in underdeveloped countries, in order to reduce their fossil fuel import burden.
Key Players in Solar photovoltaic glass market are –
Xinyi Solar Holdings Ltd. (China), IRICO Group New Energy Co., Ltd. (China), Flat Glass Group Co., Ltd (China), Qingdao Jinxin Glass Co., Ltd. (China), Dongguan CSG Solar Glass Co., Ltd. (China), AGC Solar (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Taiwan Glass Ind. Corp. (Taiwan), Saint-Gobain (France), Borosil Renewables Ltd. (India), and Guardian Glass (US), among others, are the key players operating in the solar PV glass market.
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