According to the report issued by MRF, the global solar photovoltaic glass market's compound annual growth rate from 2018 to 2023 is expected to reach 34%.
The government's encouragement of renewable energy policies is a key driving force for the development of the global solar photovoltaic glass market. This may be the main driving force for the solar photovoltaic glass market in the future, and product research cannot be separated from the strong support of the government.
As the industry's technical framework matures, the price of solar photovoltaic glass is also gradually falling, which will also become the main driving force for the development of solar photovoltaic glass market. The residential sector is more sensitive to innovative products such as solar photovoltaic glass than the industrial and commercial sectors, so this sector will occupy a major share of the solar photovoltaic glass market.
The global solar photovoltaic glass market size was USD 4.5 billion in 2017, and it is expected to increase to USD 19 billion by 2023.
According to the application area, the global solar photovoltaic glass market can be divided into three major areas: public facilities, residential and non-residential. The residential industry is the main consumer area of solar photovoltaic glass. As people's environmental awareness continues to increase, the housing industry will continue to dominate.
Geographically, the global solar photovoltaic glass market can be divided into North America, Europe, Asia Pacific and the rest of the world. Europe is expected to dominate the global solar photovoltaic glass market. The increased consumer awareness of solar photovoltaic glass and renewable energy, and the support of governments in the region for renewable energy power generation policies have promoted the rapid development of the European solar photovoltaic glass market.