PORTLAND, Oregon, Nov. 27, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Solar Photovoltaic Glass Market Analysis by Type (Anti-Reflective Coated Glass, Tempered Glass, TCO Glass, and Others) and End-Use Industry (Residential, Commercial, and Utility-Scale): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global solar photovoltaic glass market garnered $4.5 billion in 2018, and is expected to generate $37.6 billionby 2026, registering a CAGR of 30.3% from 2019 to 2026.
Drivers, restraints, and opportunities
Surge in demand for residential applications and supportive government policies for using photovoltaic technology drive the growth of the global solar photovoltaic glass market. However, high initial costs hinder the market growth. On the other hand, rise in demand for renewable energy create new opportunities in the industry.
The tempered glass segment to maintain its leadership status during the forecast period
Based on type, the tempered glass segment held more than two-fifths of the total share of the global solar photovoltaic glass market in 2018, and is expected to maintain its leadership status during the forecast period. This is due to this type being stronger and safer than any other type of glass. However, the anti-reflective coated glass segment is estimated to portray the fastest CAGR of 31.6% from 2019 to 2026, owing to its ability to improve light transmittance and offer better overall efficiency in comparison to other modules.
The utility scale segment to maintain its dominant position in terms of revenue by 2026
Based on end user, the utility scale segment contributed to the highest market share in the global solar photovoltaic glass market in 2018, holding more than half of the total share, and is expected to maintain its dominant position in terms of revenue by 2026. Moreover, this segment is estimated to witness the highest CAGR of 31.4% from 2019 to 2026. This is a lucrative segment, owing to its benefits of providing fixed-priced electricity during peak demand periods. The research also analyzes segments including residential and commercial.
Asia-Pacific to continue its lion's share by 2026, North America to follow
Based on region, Asia-Pacific contributed to the highest share, accounting for more than two-thirds of the global solar photovoltaic glass market in 2018, and is estimated to continue its lion's share during the forecast period. This is due to regulations supporting photovoltaic panel installation and rise in solar panel installations. North America is expected to maintain the second-highest market share during the forecast period. However, LAMEA is expected to portray the largest CAGR of 31.0% from 2019 to 2026, owing to rapid surge in development of renewable power to meet the ever-rising electricity demand.
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 [email protected]