Industry Outlook and Trend Analysis
The Solar PV Glass Market was worth USD 1.59 billion in the year 2014 and is expected to reach approximately USD 22.36 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 34.16% during the forecast period. Clean and sustainable power source is a reasonable other option to fossil fuel-based electricity. Its usage can help check the over-reliance on coal and fossil fuels, decrease air pollution and by reducing greenhouse gas emissions, and broaden control supply. There has been a rising political and social agreement toward implementing clean energy generation techniques, subsequently driving the worldwide market. The worldwide solar PV glass market is described by a few key patterns that are anticipated to play a vital part in the coming years. Reducing solar PV glass costs are presumed to boost the worldwide market development over the estimate time frame. Nonetheless, cost-concentrated R&D activities to grow new and additionally unrivaled varieties of PV glass are foreseen to raise the costs, subsequently impeding business sector development in the coming years. Increased subsidizing to investigate the capability of solar PV crosswise over developing nations recommends that solar energy is expected to be the eventual fate of vitality age in the coming years. In May 2017, The International Solar Alliance declared the financing of USD 300 billion to advance the usage of manageable energy in the coming years. The increasing importance of restricting greenhouse gas emission is probably going to be the key driver for market development.
Application Outlook and Trend Analysis
On the basis of revenue, utility was the biggest application fragment in 2016 and represented 49.3 percent of the aggregate share of the market. Expanding requirement for proficient and cost-effective energy assets is foreseen to drive the product requirement in utility portion throughout the following years. Solar PV glass has turned out to be progressively famous in the large-scale and additionally small-scale power generation applications in utility fragment. The primary components adding to the extensive product demand in the utility part incorporate the convenience and establishment and the decrease in its costs. It is used as a part of an assortment of uses in the utility fragment, for example, utilization for powering specific equipment, usage for fueling particular hardware, small & large power generation plants, cogeneration of power systems, PV panels on building facades, and solar energy for home at roof tops. Such patterns have profited the interest for sun based PV glass in utility application. Rapid urbanization, expanding discretionary income, and rising consciousness in regards to clean energy use are foreseen to drive the private sun oriented PV limit establishment, in this manner profiting the demand for glass in the application.
Regional Outlook and Trend Analysis
North America has encountered an expansion in the establishment of solar systems by an astounding 17 Percent in 2016 when compared with 2015 One such case of a power station is Mojave Project, which was finished in the year 2014 and is situated in Barstow, California. The expanding interest toward sustainable power source combined with rising adoption of solar energy plants is anticipated to boost the market over the conjecture time frame. Asia Pacific is foreseen to rise as the biggest market before the finish of figure period. Emerging nations, for example, Indonesia, Pakistan, South Korea, Malaysia, Japan, India, and China, are encountering a fast development in urbanization and population. The European market is additionally anticipated that would witness noteworthy development throughout the following years. The area is described by a high number of solar energy systems, which are used for power generation, space heating, water heating, and district heating & cooling. As per IEA, around 215,000 battery and solar powered vehicles were sold in the year 2015 in the area.
The global Solar PV Glass Market is extensively competitive due to the existence of key players such as Yingli, Guardian Industries, Nippon Sheet Glass Co., Ltd, Saint-Gobain, Asahi India Glass Ltd, Trina Solar and Guardian Industries. Producers utilize diverse sourcing procedures over the whole esteem chain. Makers can embrace cost-cutting systems and produce their raw materials and also source raw materials from various makers. The fabricated PV glass products are disseminated through various channels. Certain system integrators additionally disperse the last items notwithstanding the existence of devoted circulation organizations in the market.
The global Solar PV Glass Market is segmented as follows-
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?