Bright Future Predicted for Solar Photovoltaic Glass Market
Geographically, Asia-Pacific accounted for the largest market share in terms of revenue for the solar photovoltaic glass market in 2016.
The global solar photovoltaic (PV) glass market is expected to grow at a compound annual growth rate (CAGR) of 34% from 2016-2023, according to a report available from Research and Markets. Increasing demand for renewable energy and electricity generation is contributing to growth in the market. However, large installation and storage costs are factors restraining growth.
Geographically, Asia-Pacific accounted for the largest market share in terms of revenue for the solar photovoltaic glass market in 2016; the region is expected to continue to dominate the market during the forecast period. Countries such as China, India, Japan and South Korea are the key contributors for the high demand for solar PV glass in the Asia-Pacific region. In addition, Asia-Pacific is expected to be the fastest-growing region for solar PV glass during the forecast period, due primarily to increasing demand for solar energy and government initiatives to reduce greenhouse gas emissions.
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