Photovoltaic Glass Market To Increase Value Growth At 26.1% CAGR During 2020 to 2030:Persistence Market Research

The global photovoltaic glass market is driven by the ever-increasing demand for photovoltaic glass in utility, non-residential, and residential sectors. Production of glass windows and roofing are seeing employment of tempered glass. The developing countries are also subject to several initiatives by the governments with regards to installation of solar panels to the buildings newly constructed and also the old building structures. As per the IEA (International Energy Agency), the government of the US has passed a multi-year extension regarding tax credits for solar photovoltaic glass stations and CSP (concentrating solar power).
PMR states that the global photovoltaic glass market will witness a CAGR of 26.1% between 2020 and 2030.

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Key takeaways from the Photovoltaic Glass Market
• The “utility” sector holds the largest market share. It could be credited to benefits offered, inclusive of contributing to sustainability, improvement in public relations and branding, and lessening of carbon footprint.
• Europe holds the major share (more than 50%). This could be reasoned with major PV installations all across Belgium, Spain, and Italy. Also, EU gives subsidies to China-based suppliers.
• The Asia-Pacific is expected to grow at the fastest rate between 2020 and 2030 due to more than 45% of photovoltaic glass producers shifting their headquarters to Japan and China on the account of lower overheads.
• By application, residential sector holds the largest market share due to growing benevolence in the unexplored regions like Latin & Central America.

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How is the photovoltaic glass market structured?
The key players in the photovoltaic glass market include Ja Solar Holdings Co. Ltd., Wuxi Suntech Power Co., Ltd., Trina Solar, Borosil Glass Works Limited, Shenzhen Topray Solar Co., Ltd., Onyx Solar Group LLC, Sharp Corporation, Polysolar, Gruppo STG, and Brite Solar. They are trying out various modes of expansion to strengthen their foothold. For example – Trina Solar is planning to have a huge manufacturing base all over India.

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