According to a recent research done by Grand View Research, Inc, the global solar photo voltaic glass market will be worth $3.38 billion by 2024. Increasing solar PV installations across the globe is expected to remain a key driving factor for global solar PV glass market over the forecast period.
The report says that favourable regulatory norms across the globe are expected to promote usage of solar PV panels. These regulations are expected to have a direct impact on the solar PV glass market. According to the Kyoto Protocol Act, several countries is obliged to reduce carbon emissions. This protocol is anticipated to create ample opportunities for the green energy development and further create new avenues for market participants.
Moreover the report also says that increased solar PV installation capacities across countries such as Mexico, India, Pakistan, Italy, Spain, the UK, and South East Asia is also expected to have a positive impact on the overall market.
The report says that Asia Pacific is expected to witness the highest growth of 22.7 per cent over the forecast period. More than 45 per cent of the manufacturers for solar PV glass are situated in China and Japan, which is expected to remain a key advantage for the regional market over the forecast period. Lower prices and favourable climatic conditions are also expected to benefit the regional market.
By Atanu Kumar Das
