Press release
Rapid Move Towards Renewable Energy Targets Boosting Solar PV Glass Demand Globally
The growing focus on environmental sustainability worldwide is encouraging different regions and countries to invest heavily in renewable energy sources. Rising adoption of solar energy globally is the major driver of solar PV glass market. Favorable government initiatives and policies to meet their environmental sustainability targets is further boosting the demand for solar PV glass worldwide. However, overcapacity of solar PV modules coupled with lack of solar panel recycling infrastructure is restraining the growth of solar PV glass market.
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Utility application segment is poised to witness the highest CAGR during the projected period
With the growing demand for clean energy, utilities are required to engage alternate sources of energy which are less expensive yet efficient. Excess energy demand coupled with high electricity prices is, thus augmenting the adoption of solar power across this sector which, in turn, is escalating the demand for solar PV glass. The contribution of solar energy to the grid during peak periods of electricity use can help to reduce the likelihood of rolling blackouts in case of rising temperature. Thus, the rise in the production of solar energy generated during peak periods results in the decreased demand on the grid, leading to a decline in the energy prices during peak periods.
Asia Pacific is the major market for solar PV glass manufacturers
APAC region dominates the global solar PV glass market throughout the forecast period. This dominance is majorly attributed to the high production of solar panels/modules in China and other APAC countries. According to the International Energy Agency (IEA), China installed nearly half of the total added solar capacity worldwide in 2016. Implementation of Feed-in Tariff (FiT) schemes in Southeast Asian countries such as Thailand and Philippines coupled with rising investments in the renewable energy sector is also projected to bolster the demand for manufacturing solar panels and thus, solar PV glass, throughout the forecast period.
This report also includes a study of strategies and product portfolios of some of the leading companies in the solar PV glass market. It consists of company profiles of the leading companies such as Borosil, Onyx Solar Group LLC, Nippon Sheet Glass Co., Ltd, and Flat Glass Group Co., Ltd., among others.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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