Press release
Solar Photovoltaic Glass Market Sales to Top US$ 67.2 Bn at a CAGR of 26.1% between 2020 and 2030
Solar Photovoltaic Glass Market 2022
Solar Photovoltaic Glass Market is expected to Touch USD 67.2 Billion by 2030. PMR states that the global photovoltaic glass market will witness a CAGR of 26.1% between 2020 and 2030. 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.
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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).
Key Companies-
• Asahi Glass Co., Ltd.
• Nippon Sheet Glass Co., Ltd
• Hanergy Holding Group Limited
• First Solar
• Saint-Gobain
• Flat Glass Group Co., Ltd.
• GUANGDONG GOLDEN GLASS TECHNOLIGIES LTD.
• Yingli Solar
• TAIWAN GLASS IND. CORP.
• Xinyi Energy Holdings Limited
• Borosil Glass Works Ltd.
• Jinko Solar
• Trina Solar
• Canadian Solar
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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.
Impact of Covid-19 on Photovoltaic Glass Market
The outbreak of Covid-19 has halted the photovoltaic glass market as partial/total lockdowns inflicted all over has resulted in suspension of production of photovoltaic glass since Mar 2020. The declination is expected to continue till mid-2021 (till Covid-19 vaccine is probably in place). The "new" normal will come with new guidelines regarding safety and social distancing.
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Key Questions Answered in PMR's Photovoltaic Glass Market Report
• Which region is anticipated to hold a prominent photovoltaic glass market share over the forecast period?
• What will be the key driving factors propelling the demand for photovoltaic glass during the forecast period?
• How will current trends will impact the photovoltaic glass market?
• Who are the significant market participants in the photovoltaic glass market?
• What are the crucial strategies of prominent players in the photovoltaic glass market to upscale their positions in this landscape?
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