Increasing focus on green energy brought about by rising awareness of the current environmental depletion is shifting the focus of governments across the world towards renewable sources of energy for the generation of electricity. Solar energy generation is witnessing widespread acceptance across the world, and this has created a positive impact on the market for solar technologies, such as photovoltaic modules.
According to a new research publication by Persistence Market Research, the long-term outlook of the global photovoltaic glass market is expected to remain highly positive, with the market value projected to increase over tenfold from 2020 to 2030.
Key Findings of Photovoltaic Glass Market Study
- Manufacturers of photovoltaic panels are collaborating with companies holding strong R&D expertise to foster much-needed product innovation.
- By composition, the poly-crystalline segment will enjoy the highest share in the market.
- Europe and China will be the most sought-after photovoltaic markets over the coming years.
“The COVID-19 pandemic has thrown most business sectors off-gear, and with lockdowns and restrictions in place, installation of solar PV has declined across the world, hitting the photovoltaic glass market”, says a PMR analyst.
Regional Market Growth Largely Defined by Prevalent Government Policies & Regulations
- Demand for energy and power across various industries in the Americas is anticipated to steadily peak in the coming years. However, global warming has created concerns among the population, and industries across the region are swiftly moving toward renewable sources of energy such as solar energy to reduce carbon footprint. This is positively impacting the growth of the photovoltaic glass market across North America.
- Coal is the chief source of power generation in Europe, owing to the presence of extensive coal reserves in the region. Governments in Europe have implemented policies to increase the use of clean energy and reduce the generation of non-renewable sources of electricity production. This has promoted the use of photovoltaic technologies in the region.
- In Asia Pacific, the renewable energy sector is witnessing rapid growth, owing to significant developments in the energy and power sector in countries such as China, India, Japan, and Australia. Strong governmental policies pertaining to the dissemination of clean energy projects is acting in favor of the Asia Pacific photovoltaic glass market.
- The Middle East & Africa region has an abundance of non-renewable energy sources, and, as such, there are mixed approaches toward the adoption of solar energy as a viable renewable energy source. However, some countries in MEA are proactively shifting toward photovoltaic modules, thereby placing this regional market on a relatively moderate growth path.
Photovoltaic Glass Market: Competition Landscape
The global photovoltaic glass market is characterized by the presence of prominent tier-1 and tier-2 companies in the organized sector, which hold around 75% of the global market share. Increasing demand from end-use sectors is pushing key players to strategize speedy geographical expansion, especially in developing economies. Some of the key market participants currently operating in the global photovoltaic glass market include 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., and Jinko Solar.
Want to Know More?
Persistence Market Research has published a market research report on the photovoltaic glass market that contains global industry analysis of 2015–2019 and forecasts for 2020–2030. The report provides insightful analysis of the photovoltaic glass market through different segments, namely, composition, end use, and region. The photovoltaic glass market report also provides supply and demand trends, an import-export scenario, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the value chain.
For additional insights on how the photovoltaic glass market will shape up over the next decade, write to firstname.lastname@example.org
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