San Francisco, 07 January, Solar PV Glass Market Analysis By
Application (Residential, Non-Residential, Utility), By Region (North America,
Europe, Asia Pacific, Central & South America, MEA), And Segment Forecasts,
2018 – 2025
The global solar PV glass market is expected to be valued
at USD 33.7 billion by 2025, according to a report by Grand View Research, Inc.
Growing social and political consensus aimed at adopting clean energy sources
is expected to drive the market in the coming years.
Solar PV glass is being
increasingly used in various applications such as residential, non-residential
and utility sectors. Tempered glass, in particular, is being employed in
roofing applications as well as in the manufacturing of glass windows. In
developing countries, regional governments are taking various initiatives to
install solar panels not only on newly constructed buildings but also on old building
structures. Government initiatives to achieve a sustainable future with clean
energy are anticipated to positively drive the market over the forecast period.
Residential application segment
is witnessing growth due to the rising penetration from untapped markets such
as Asia Pacific as well as Central & South America. First-mover advantage
and relatively low acquisition cost in untapped regions remain key driving
factors in this application segment. However, the cost and length of customer
acquisition is a primary concern and is projected to restrain the growth of the
application segment over the next eight years.
North America is expected to
witness the highest growth rate over the forecast period. The U.S. government
is actively investing in solar energy plants to achieve a future with
sustainable energy. According to the International Energy Agency (IEA), the
U.S. government has passed multi-year extension of tax credits for renewable
energy plants such as concentrating solar power (CSP) and solar PV glass
stations. The government has laid down supportive environment policies at the
state level for the installation and operation of these renewable energy plants
& power stations.
Access Full Research
Report On Solar PV Glass Market Analysis: www.grandviewresearch.com/industry-analysis/solar-pv-glass-market
Further key findings from the report suggest:
·
The global solar PV glass
market was valued at USD 3.23 billion in 2016 and is expected to reach USD
33.72 billion by 2025 at a CAGR of 30.9% from 2017 to 2025
·
The utility segment is
anticipated to ascend at a CAGR of 31.1% from 2017 to 2025. The large market
share of utility segment can be attributed to various advantages offered
including contribution to sustainability, enhancement of branding and public
relations efforts, and reduction of the carbon footprint of facilities.
·
In 2015, Europe generated the maximum
revenue accounting for over 50% of the total market share. The region is mainly
benefitted from minimum prices on account of the European Union subsidies given
to suppliers from China. Major solar PV installations are witnessed across
Italy, Spain, and Belgium.
·
In terms of volume, Asia
Pacific is expected to ascend at a CAGR of 26.7% from 2017 to 2025. Over 45% of
the solar PV glass manufacturers are based in China and Japan, which is
excepted to provide an advantage to market growth in this region over the
forecast period. Lower prices and favorable climatic conditions are anticipated
to benefit the overall regional market growth in the coming years.
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Grand View Research At: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented
the global solar PV glass market on the basis of application and region:
Application Outlook (Volume,
Million Square Meter; Revenue, USD Million; 2014 - 2025)
·
Residential
·
Non-residential
·
Utility
Regional Outlook ((Volume,
Million Square Meter; Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
France
o
UK
o
Italy
o
Spain
·
Asia Pacific
o
China
o
India
o
Pakistan
o
Japan
·
Central & South America
·
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
