NEW YORK, Nov. 26, 2023 /PRNewswire/ — The solar cover glass market is estimated to grow by USD 4.27 billion from 2023 to 2028, growing at a CAGR of 10.24%. The solar cover glass market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer solar cover glass market are AGC Inc., Borosil Ltd., Central Glass Co. Ltd., Compagnie de Saint Gobain, Corning Inc., CSG Holding Co. Ltd., Flat Glass Group Co. Ltd., Glas Trosch Holding AG, Interfloat Corp., IRICO Group New Energy Co. Ltd., Koch Industries Inc., Nippon Sheet Glass Co. Ltd., Onyx Solar Group LLC, SCHOTT AG, Shenzhen Topray Solar Co. Ltd., Taiwan Glass Ind. Corp., Targray Technology International Inc., TURKIYE SISE VE CAM FABRIKALARI A.S., and Xinyi Solar Holdings Ltd.
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Company Offering:
- AGC Inc. – The company offers solar cover glass such as ultra-low iron solar float glass and ultra-durable solar glass, under its subsidiary AGC Glass Europe SA.
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Based on Geography, the market is classified as APAC, Europe, North America, Middle East and Africa, and South America.
- APAC is estimated to contribute 62% to the growth of the global market during the forecast period. China, India, South Korea, and Japan as major revenue-generating countries in the region. The International Energy Agency states that China has maintained its position as the global leader in photovoltaic generation and surpassed the United States of America annually for installed PV capacity. In March 2023, for example, Grew Energy, a firm from Gujarat that is an energy company specializing in photovoltaics proposed investments worth USD 590 million to establish up to 4 GW of redundant integrated module production capacity.
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- Impactful driver- Rise in solar PV installations
- Key Trend – Rise in deployment of microgrids
- Major Challenges – Competition from alternative sources of energy
Market Segmentation
- Based on Application, the market is classified into utility, commercial, and residential. The utility segment is estimated to witness significant growth during the forecast period. To increase the life and quality of solar panels, cover glass such as tempered or plate glass is widely used by Solar Power Plants. In addition, in large-scale installations, the requirement to repair and maintain solar cover glass is frequent. Thus, there is a growing demand for solar cover glass worldwide due to the increased availability of utility-scale solar energy capacity.
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Solar Cover Glass Market Scope |
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Report Coverage |
Details |
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Historic period |
2018-2022 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.24% |
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YoY growth 2022-2023 (%) |
9.52 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Key countries |
US, Canada, China, India, and Germany |
TOC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Type
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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SOURCE Technavio
