Industry Insights
Clean & renewable energy is an affordable alternative to fossil fuel-based electricity. Its use can help curb the over-dependence on fossil fuels & coal, reduce greenhouse gas emissions & subsequently the air pollution, and diversify power supply. There has been a rising political and social consensus toward adopting clean energy generation methods, thus driving the global market.
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The global solar PV glass market is characterized by several key trends that are expected to play an important role in the coming years. Declining solar PV glass prices are presumed to bolster the global market growth over the forecast period. However, cost-intensive R&D initiatives to develop new as well as superior varieties of PV glass are anticipated to raise the prices, thereby hindering market growth in the coming years.
The U.S. market was valued at USD 0.69 billion in 2016. The U.S. government is actively investing in solar energy plants in order to achieve a future with sustainable energy. According to the International Energy Agency (IEA), the U.S. government has a passed multi-year extension of tax credits for renewable energy plants such as concentrating solar power (CSP) and PV glass stations. The government has laid down supportive environmental policies at the state level for the installation and operation of these renewable energy plants and power stations. Such trends have benefitted the market.
Application Insights
Rapid urbanization, increasing disposable income, and rising awareness regarding clean energy usage are anticipated to drive the residential solar PV capacity installation, thereby benefitting the demand for glass in the application. Governments are conducting awareness programs to encourage citizens to install rooftop solar systems. Subsidies are also being granted for such projects. Such trends are expected to benefit the overall segment growth from 2017 to 2025.
Solar PV installations are now designed in a way to ensure that they can withstand harsh environment, thus offsetting the upgrading and maintenance costs. There has been a rise in the adoption of installations by government institutes, non-profit organizations, and commercial entities to achieve sustainability goals. Such factors are expected to benefit the market demand in non-residential applications.
Regional Insights
Asia Pacific is expected to emerge as the largest market by the end of forecast period. Developing countries, such as China, South Korea, Japan, Indonesia, Malaysia, Pakistan, and India, are experiencing a rapid growth in urbanization and population. These developing countries have a large number of unreliable power grids and fundamental infrastructure systems. This factor is expected to compel industry participants to invest in these countries, thereby boosting the growth of PV glass installations and distribution grids.
The European market is also expected to witness significant growth over the next eight years. The region is characterized by a high number of solar energy systems, which are utilized for space heating, water heating, district heating & cooling, and power generation. According to IEA, approximately 215,000 solar & battery powered vehicles were sold in the year 2015 in the region. The highly developed infrastructure along with the diligent efforts of the regional government to promote and employ renewable energy technologies is expected to positively drive the market over the next eight years.
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Report Scope
Attributes & Details
Base year for estimation
2016
Actual estimates/Historical data
2014–2015
Forecast period
2017–2025
Market representation
Volume in Million square meter and Revenue in USD Million and CAGR from 2017 to 2025
Regional scope
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Country scope
U.S., Canada, Mexico, Germany, Italy, France, UK, Spain, China, India, Pakistan, and Japan
Report coverage
Revenue forecast, company share, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5 analyst working days)
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