Energy, Automobile, EV, Renewable News | Worldwide Solar Photovoltaic Glass Industry is Expected to Reach $21.1 Billion by 2027

Worldwide Solar Photovoltaic Glass Industry is Expected to Reach $21.1 Billion by 2027

November 1, 2022

DUBLIN–(BUSINESS WIRE)–The “Solar Photovoltaic Glass Market by Type (AR-Coated, Tempered, TCO-Coated), Application, End User (Crystalline Silicon PV Module, Thin Film Module, Perovskite Module), Installation Technology & Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The solar photovoltaic glass market is projected to grow from USD 6.2 billion in 2022 to USD 21.1 billion by 2027, at a CAGR of 27.9% from 2022 to 2027. The global market for solar PV glass market driven by increase in various utility applications around the globe.

By type, the TCO coated PV glass segment is estimated to be the fastest-growing segment of solar photovoltaic glass market during 2022 to 2027

Based on type, the TCO-coated PV glass is estimated to be the fastest growing segment during the forecast period. TCO-coated glass is preferred in many solar applications due its high rate of transmission and a high Hayes value property.

The utility segment in application is projected to register the highest CAGR during the forecast period

Based on application, the utility segment is projected to register the highest CAGR during the forecast period. Utility scale solar power plant are getting popular worldwide due to its capability of generating large amount of electricity. This source of energy helps to meets the current energy demand in a renewable form.

By end-user, the perovskite module is estimated to be the fastest-growing segment of solar photovoltaic glass market during 2022 to 2027.

Based on end-user, the perovskite module is estimated to be the fastest-growing segment during the forecast period. Perovskite modules are getting popularity in global market as they can respond to wide range of light wavelength. High efficiency, low potential material prices, and low processing costs are some of the major properties of this module.

The float glass segment in installation is projected to register the highest CAGR during the forecast period.

Based on installation, the float glass segment is projected to register the highest CAGR during the forecast period. The properties of float glass such as extra clear, low-iron, high solar transmittance, among others makes it suitable option for many solar applications.

The solar photovoltaic glass market in South America region is projected to witness the highest CAGR during the forecast period

South America region is projected to register the highest CAGR in the solar photovoltaic glass market from 2022 to 2027. South America is one of the key markets for solar PV glass. The region has high demand for the solar PV glass due to rising demand from various end use applications

Market Dynamics

Drivers

Supportive Policies and Initiatives of Various Governments for Solar Pv Plant Installations to Promote Renewable Energy Generation
Increasing Demand for Solar Systems in Non-Utility Applications

Restraints

High Costs Involved in Purchase, Installation, and Storage of Power Conversion Devices
Fluctuations in Raw Material Prices
Implementation of Various Stringent Regulations for Carbon Dioxide Emissions

Opportunities