Transparent Solar Panels Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (Thin Film Photovoltaics (TPVs), Near Infrared Transparent Solar Cell, Polymer Solar Cell (PSC), Perovskite Solar Cell, and Quantum Dot (QD) Solar Cell); Application (Tracking Solar Panels and Stationary Solar Panels); and Region/Country
Global Transparent Solar Panels Market is expected to grow at a significant rate of around 5% during the forecast period. Transparent solar panels are clear/transparent glasses that function exactly like a regular solar panel. The differentiation in transparent solar panels is that they are made using commonplace items like electronics, a sheet of glass, or windows. Transparent solar panels have a huge potential in meeting the world’s energy demand by using renewable sources such as natural light. Some major types of solar panels which are already being used include, glass in skyscraper buildings, windows in homes, sunroofs of cars, and even smartphones. Factors such as the growing transition toward electric vehicles coupled with the growing adoption of transparent solar panels in agriculture and military & defense sectors. Major players in the market are working towards the development of transparent solar panels. For instance, in July 2022, Japan’s researchers fabricated a highly transparent solar cell with a 2D atomic sheet. These near-invisible solar cells were developed using Indium Tin Oxide (ITO) as a transparent electrode and tungsten disulfide (WS2) as a photoactive layer.
Ciel & Terre International, JA SOLAR Technology Co. Ltd, KYOCERA Corp, LONGi Solar, Trina Solar, Vikram Solar Ltd, Wuxi Suntech Power Co. Ltd, First Solar Inc., Hanwha Qcells Co. Ltd., Canadian Solar Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, quantum dot (QD) solar cell category is to grow with the highest CAGR”
Based on type, the market is segmented into thin film photovoltaics (TPVs), near infrared transparent solar cell, polymer solar cell (PSC), perovskite solar cell, and quantum dot (QD) solar cell. The quantum dot (QD) solar cell category is to grow with the highest CAGR. This is because adjusting the size of quantum dots sets the bandgap which enables tuning of energy levels of solar panels. The bandgaps can be expressed by the dots in a variety of sizes without altering the underlying material or production methods which is further increasing the demand for QD solar cells in the market.
“Amongst application, stationary solar panels are expected to have a significant share during the forecast period”
On the basis of application, the market is bifurcated into tracking solar panels and stationary solar panels. Among these, stationary solar panels are expected to have a significant share during the forecast period. This is because these gather and use light energy through a window or glass surface irrespective of the angle and are oriented directly towards the sun’s rays. Also, stationary solar panels have solar concentrators that are comparatively cheaper than solar trackers. This is probably because they are stationary and do not need additional cooling systems which is further increasing the demand in the market. Thus, many players are working towards better designing facilities for solar panels. For instance, In Oct 2022, A team of scientists from École Polytechnique Fédérale de Lausanne in Switzerland specially designed photosensitizer dye molecules. The new transparent solar panels could turn your windows into power sources to keep electricity flowing through towns and cities.
Transparent Solar Panels Market Report Coverage
“Europe is anticipated to grow at a substantial CAGR during the forecast period”
Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to technological advancements, rising environmental pollution, the rising price of fuels, and growing awareness among people toward clean energy, high investments by governments of countries such as Germany, Switzerland, and others are expected to drive the growth of the transparent solar panels market. Also, European nations are among the front runner in the renewable energy sector across the globe. For instance, according to EEA early estimates, by 2021, 22% of the energy consumed in the EU, was generated from renewable sources. In addition, in July 2021, Dutch solar project developer Groenleven, a unit of German renewable energy company BayWa re, completed construction on two floating PV plants with an aggregate capacity of 70.9 MW in the Netherlands. Furthermore, with the increasing demand for electricity and low maintenance cost of solar panels leads to cheaper ones in the long run which makes them a good investment in private households. Thus, all these factors are increasing the demand for transparent solar panels in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The Global Transparent Solar Panels Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Transparent Solar Panels Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global transparent solar panels market were the three major steps undertaken to create and analyze the adoption of transparent solar panels in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global transparent solar panels market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the transparent solar panels market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the transparent solar panels market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the transparent solar panels market. Further, we conducted factor analysis using dependent and independent variables such as various type and application of transparent solar panels. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the transparent solar panels market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global transparent solar panels market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the transparent solar panels market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global transparent solar panels market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global transparent solar panels market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global transparent solar panels market.
The main objective of the Global Transparent Solar Panels Market Study
The current & future market trends of the global transparent solar panels market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the transparent solar panels market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of type and application.
- Define and analysis of the regulatory framework for the transparent solar panels
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the transparent solar panels market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the transparent solar panels market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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