LONDON--(BUSINESS WIRE)--#GlobalSolarCoverGlassMarket--The global solar cover glass market size is poised to grow by USD 1.04 billion during 2020-2024, progressing at a CAGR of about 29% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The solar cover glass market is driven by the rise in solar PV installations. Population growth and technological advances in the field of electrical and electronic appliances have increased the demand for energy. In addition, the rise in demand for industrial electric motor systems, growth in the electronic appliances market, and increase in the use of HVAC systems due to variation in temperature will increase the demand for electricity worldwide. With this rise in demand for energy, governments of various countries have started investing in renewable energy. Also, reduced carbon footprints of solar and wind energy compared with coal will drive the renewable energy market during the forecast period. This will stimulate the demand for solar PV installations, thereby driving market growth.

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Report Highlights:

• The major solar cover glass market growth came from the utilities segment. However, the market is expected to generate fastest growth from the commercial segment during the forecast period.
• APAC was the largest solar cover glass market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increased demand for renewable energy in emerging countries.
• The global solar cover glass market is fragmented. AGC Inc., Borosil Glass Works Ltd., Euro Multivision Ltd., Interfloat Corp., Nippon Sheet Glass Co. Ltd., ONYX SOLAR ENERGY SL, Sisecam Group, Taiwan Glass Ind. Corp., Targray Technology International Inc., and Xinyi Solar Holdings Ltd. are some of the major market participants. To help clients improve their market position, this solar cover glass market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global solar cover glass market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Government Regulations Supporting Clean Energy Production will be a Key Market Trend

Government policies supporting clean energy production also drive the market growth of solar PV. Various policy renewals and reformations have been proposed by governments with regard to emission rates in power plants over the past few years. Most of the countries have formulated policies to support the growth of renewable power generation due to the growing focus on climatic change. After the Paris Agreement, countries such as India and the US have decreased their use of coal power production plants to reduce emissions. For instance, in India, coal-fired power generation projects of about 47.4 GW at different stages were canceled in 2019. Such stringent policies have helped increase the number of solar energy projects over the last decade. This is resulting in an increase in demand for solar cover glass, thereby driving the market.

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Solar Cover Glass Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist solar cover glass market growth during the next five years
• Estimation of the solar cover glass market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the solar cover glass market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solar cover glass market vendors

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Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces analysis
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Utility - Market size and forecast 2019-2024
• Commercial - Market size and forecast 2019-2024
• Residential - Market size and forecast 2019-2024
• Market opportunity by Application

Customer landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• AGC Inc.
• Borosil Glass Works Ltd.
• Euro Multivision Ltd.
• Interfloat Corp.
• Nippon Sheet Glass Co. Ltd.
• ONYX SOLAR ENERGY SL
• Sisecam Group
• Taiwan Glass Ind. Corp.
• Targray Technology International Inc.
• Xinyi Solar Holdings Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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