Growth Projections and Key Market Trends
The solar photovoltaic glass market is poised to witness substantial growth, reaching an estimated value of $27.3 billion by 2028, according to an exclusive report by MarketsandMarkets™. This projection reflects a remarkable CAGR of 28.4% from 2023, fueled by technological advancements, government initiatives promoting renewable energy, and the overall expansion of the solar industry.
Dominance of AR-Coated Glass
The report highlights that AR-coated glass is anticipated to hold the most significant share globally. This type of glass is particularly advantageous in environments with varying light conditions, optimizing solar panel performance during periods of low-angle sunlight or diffuse light. By minimizing reflection losses, AR-coated glass ensures consistent energy harvesting across different weather conditions, contributing to the overall growth of this segment.
Patterned Glass in Building Integrated Photovoltaics (BIPV)
The report indicates that the patterned glass segment is poised to lead in terms of installation. Patterned glass, crucial in Building Integrated Photovoltaics (BIPV), is well-suited for applications where solar modules are integrated into architectural elements. This segment not only generates clean energy but also provides aesthetically pleasing and functional building material, contributing to its growth.
Asia Pacific’s Role in Market Leadership
The Asia Pacific region is projected to lead the global solar photovoltaic glass market during the forecast period. Rapid economic growth and urbanization in countries like China, India, and Southeast Asian nations are driving a surge in electricity demand. As these economies prioritize sustainable and clean energy solutions, solar power, supported by high-quality PV glass, plays a crucial role in meeting their increasing energy needs.
Key Players Shaping the Industry
Leading manufacturers contributing to the growth of the solar photovoltaic glass market include Xinyi Solar Holdings Ltd., IRICO Group New Energy Co., Ltd., Flat Glass Group Co., Ltd, Qingdao Jinxin Glass Co., Ltd., Dongguan CSG Solar Glass Co., Ltd., AGC Inc., Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Borosil Renewables Ltd., and Guardian Glass.
Source：prnewswire.com
