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Market Overview
- Global Solar Photovoltaic Glass Market Expected to reach a high CAGR of 30.2% By 2027: DataM Intelligence
- The solar photovoltaic glass shows the same mechanical properties as a conventional, architectural glass used in construction. However, also, it generates free and clean energy. Moreover, its optimized solar factor enhances thermal comfort inside the building, it completely offsets the energy demand for indoor air conditioning; and it drastically reduces the cost of electricity.
- The solar photovoltaic glass market is segmented by type, application, end-user, and geography. By type, the market is segmented into monocrystalline, polyor multicrystalline, thick film, amorphous, and others. By application, the market is further segmented by Buildings. By application, this market is divided into roof integration, Skylight, facades, sunshade, curtain Wall, canopy, carports, solar parking whereas by geography the market is divided into North America, South America, Europe, Asia Pacific and Rest of the World.
- Environmental friendly power generation technique and the same time photovoltaic glass filters 99% of ultraviolet radiation (UV), which may harm interiors, furniture, and humans, and it reduces the transmission of infrared radiation by up to 90%. Given these users, friendly and safeguarding properties and environmentally safe energy production are the features that drive the market growth.
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Market Dynamics
- The use of energy in buildings represents a large share of the total end-use of energy. In the United Nations Economic Commission for Europe (UNECE) region, buildings are responsible for approximately one-third of total energy consumption and account for almost 40 percent of CO2 emissions from combustion.
- In U.S commercial buildings consume more energy than the transportation or industry sectors, accounting for nearly 40 percent of total U.S. energy use. Hence designers, developers, and owners search for ways to minimize the operating costs and environmental impacts of buildings.
- Hence governments across the globe are focusing on energy efficiency and environmentally friendly techniques. In developed nations such as the U.S and countries of Europe, strict energy efficiency standards are implemented in buildings, especially for commercial buildings.
- Moreover, Photovoltaic glass filters 99% of ultraviolet radiation (UV), which may harm interiors, furniture, and humans; and it reduces the transmission of infrared radiation by up to 90%. Given these properties, our PV Glass maximizes the performance of the building’s envelope, enabling buildings to become vertical power generators. on this note photovoltaic glass is a viable safe and environmentally friendly energy producing technique that will likely have robust growth across the globe shortly.
- This glass type is slightly costly when compared to the conventional glass material. However, The installation will then generate electricity, thus reducing its carbon footprint, and providing a better return on investment.
Segment Analysis
- Based on the PV cell type, the solar photovoltaic glass market is classified into monocrystalline, multicrystalline, thick film, amorphous, and others. Among the cell type monocrystalline is the dominant segment which accounts for XX% of the market.
- Along with efficiency and wattage of a solar PV panel. An utmost important aspect of solar PV glass is the type of solar panel glass used. The glass which is used in solar PV panels is of immense importance as it can make a big difference to the solar panel efficiency and therefore the yield of the solar PV system.
- Among the types of PV cells, the two major types of photovoltaic cell materials used are crystalline silicon and thin-film deposits, which vary from each other in terms of light absorption efficiency, energy conversion efficiency, manufacturing technology and cost of production. Crystalline silicon PV cells are the most common type of photovoltaic cell in use today and are also one of the earliest successful PV devices, representing about 90% of the market today.
- Monocrystalline silicon is a type of photovoltaic cell material manufactured from a single crystal silicon structure which is uniform in shape because the entire structure is grown from the same crystal.
- Owing to this nature monocrystalline PV cells are ideal for transferring loose electrons through the material resulting in a high energy conversion efficiency. The conversion efficiency for a monocrystalline cell ranges between 15 to 20%.
- Moreover, apart from efficiency, mono-crystalline photovoltaic cells are highly reliable for outdoor power applications due to their wafer thickness.
- Based on End-user, the solar photovoltaic glass market is classified into buildings which include commercial buildings, residential buildings, industrial buildings, and others. Currently, commercial buildings are the dominant segment and it accounts for approximately XX% of the market.
- Solar photovoltaic glass an architecturally beautiful vision glass that can be used in locations not typically associated with solar panels, these include skylights, patios, and window openings, providing a see-through surface that generates electricity.
- The services demanded of buildings such as lighting, warmth in the winter, cooling in the summer, water heating, electronic entertainment, computing, refrigeration, and cooking require significant energy use, due to growing electricity consumption in commercial buildings.
- Currently, the commercial building industry is entering another era of change, to minimize the footprint of non-renewable energy sources and harmful effects on the environment.
- Also to curb the environmental effects arisen from the production of energy from non-conventional energy sources and decrease the energy use governments are enforcing strict rules on commercial buildings to reduce their energy consumption through other alternative techniques.
- Moreover, the governments are encouraging other alternative viable alternatives to non-conventional energy sources by providing tax benefits and rebates for purchasing necessary equipment.
- Also, commercial buildings continue to be buoyant in 2018, led by robust business confidence and bright prospects in the fast-growing economies in the world. Therefore the current favorable scenario for use of solar photovoltaic glass will likely to boost sales of current existing players and favor the entry of new players into the market
Geographical Analysis
- The Asia Pacific Solar Photovoltaic Glass market size was worth USD XX million in 2019 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. North America is expected to grow with a high CAGR during the forecast period due to the major focus of the people and government towards bio-based products.
- The Asia-Pacific region led the solar PV glass market. China, India, Japan, and South Korea are the key countries contributing to the high demand for solar PV glass in the Asia-Pacific region. currently, infrastructure investment has been a key driver of economic development for countries in the Asia Pacific.
- The Asia-Pacific solar PV glass market is projected to witness significant growth during the forecast period, owing to the rising demand for solar energy and increasing initiatives undertaken by governments of different countries of the Asia-Pacific region to reduce emissions of greenhouse gases.
- Also, the introduction of renewable sources of energy for the generation of electricity has contributed to the growth of the solar PV glass market in the Asia-Pacific region. Residential consumers can leverage net metering incentives by installing solar PV systems on their rooftops. For this, they can receive credits for the power they supply to the grid.
Competitive Landscape
- Some of the major players include AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Henan Huamei Cinda Industrial Co., Ltd, Guangfeng Solar Glass
- These key players mainly focus on new product launches, expansions, and mergers & acquisitions to enhance their position in the solar PV glass market.
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