According to the report by Expert Market Research (EMR), the Global Solar PV Glass Market Size is projected to grow at a CAGR of 28.60% between 2023 and 2028. Aided by the escalating demand for renewable energy sources and the broadening applications of solar PV glass in various sectors, the market is expected to grow significantly by 2028.
Solar PV glass is a technology that converts light into electricity, utilised primarily in solar panels. It serves a crucial function in the conversion of sunlight into sustainable and clean energy, contributing to the reduction of carbon emissions and dependency on fossil fuels. Besides its primary purpose, solar PV glass boasts of outstanding durability, light transmission properties, and resistance to harsh weather conditions, making it an invaluable component in numerous industrial applications, including building-integrated photovoltaics (BIPV), automotive, and electronics.
The burgeoning consumer inclination towards renewable energy sources is driving the global solar PV glass market growth. With the rising awareness of the environmental implications linked with fossil fuel consumption, there has been a significant shift towards sustainable energy sources, triggering a spike in demand for solar PV glass-based products. Moreover, government initiatives and incentives promoting solar energy usage have further escalated the popularity of solar PV glass, as it forms the fundamental component of solar panels used in various residential, commercial, and industrial settings.
The expanding applications of solar PV glass in numerous industries also play a pivotal role in fuelling the solar PV glass market development. In the building industry, BIPV systems incorporate solar PV glass into the building’s envelope, contributing to energy generation and architectural aesthetics. The automotive sector employs solar PV glass in sunroofs and windows, enabling vehicles to generate their own power. Moreover, solar PV glass’s unique properties make it a crucial element in the manufacturing of various electronics like solar chargers, portable solar systems, and solar-powered gadgets.
Furthermore, the mounting demand for smart building solutions in the construction industry has led to an increased focus on solar PV glass as a viable component for energy-efficient buildings. With the rise of the smart cities concept and the increasing popularity of green building codes, solar PV glass has emerged as a critical component in the design of energy-efficient buildings, thus bolstering the solar PV glass market expansion.
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Solar PV Glass Market Segmentation
The market can be divided based on application and region.
Market Breakup by Application
• Non-residential
• Residential
• Utility
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global solar PV glass companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Onyx Solar Group LLC
• Sharp Corporation
• Saint-Gobain
• Nippon Sheet Glass Co., Ltd.
• Trina Solar Co., Ltd.
• Wuxi Suntech Power Co., Ltd.
• Others
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