Solar PV Glass Market Size, | in-Depth Analysis Report, 2032
Solar PV Glass Market Size, Share Global Analysis Report, 2024-2032

Solar PV Glass Market Share, Size, Trends, Industry Analysis Report, By Type (TCO Coated Solar PV Glass, AR Coated Solar PV Glass, Tempered Solar PV Glass, Others); By Installation; By End Use; By Region; Segment Forecast, 2024- 2032

  • Published Date:Jan-2024
  • Pages: 115
  • Format: PDF
  • Report ID: PM4068
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global solar PV glass market was valued at USD 12.70 billion in 2023 and is expected to grow at a CAGR of 30.2% during the forecast period.

Solar PV Glass plays a pivotal role in enhancing the energy efficiency of solar panels. Its anti-reflective coatings and advanced technologies ensure maximum light absorption, resulting in higher energy yields and cost savings for end-users.

Product innovations, technological advancements, and the introduction of regulatory policies have been detailed in the report to enable businesses to make more informed decisions. Furthermore, the impact of the COVID-19 pandemic on the Solar PV Glass Market demand has been examined in the study. The report is a must-read for anyone looking to develop effective strategies and stay ahead of the curve.

Solar PV Glass Market Size

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Ongoing research and development efforts have yielded innovations in Solar PV Glass technology, resulting in higher energy-conversion efficiency. These technological advancements make Solar PV Glass a compelling choice for both residential and commercial applications.

In addition, several companies are investing in expansion to cater to the growing consumer demand.

  • In August 2022, NSG Group declared the investment in more production capability of TCO (transparent conductive oxide) covered glass in Malaysia. The investment is aimed at supporting the rising solar market.

Residential and commercial rooftop solar installations represent a significant opportunity for the Solar PV Glass market. Consumers are increasingly adopting solar energy to generate their electricity, reduce energy costs, and contribute to environmental sustainability. The adoption of energy-neutral or net-zero energy buildings is gaining traction, creating a significant market for Solar PV Glass. These buildings generate as much energy as they consume, often relying on Solar PV Glass for sustainable electricity production.

Transparent solar panels and flexible Solar PV Glass are driving innovation in various applications, including windows, facades, and other surfaces. These emerging technologies open doors to new possibilities for solar integration. Solar PV Glass is indispensable for providing reliable electricity in remote and off-grid areas where conventional power infrastructure is absent or unreliable. It empowers communities with access to clean energy. Corporate and government sustainability initiatives, along with environmental regulations, are driving the adoption of solar energy and, by extension, Solar PV Glass. These initiatives promote clean energy sources and reduce greenhouse gas emissions.

Solar PV Glass Market Share

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Industry Dynamics

Growth Drivers

  • Adoption of Clean and Renewable Energy, Supportive Regulatory Framework

The adoption of clean and renewable energy solutions places solar power at the forefront, driving the demand for Solar PV Glass. The emphasis on reducing dependence on fossil fuels is a key driver. Supportive policies, financial subsidies, and tax incentives offered by governments worldwide provide strong drivers for the adoption of solar energy systems, with Solar PV Glass being a critical component.

The escalating environmental consciousness and growing concerns about climate change have led to a substantial shift towards sustainable energy sources. Solar PV Glass, with its renewable attributes, contributes significantly to addressing these concerns.

The global shift towards clean and renewable energy sources has led to a significant increase in solar energy installations. This surge in solar installations has driven the demand for solar PV glass, as it is an essential component in photovoltaic modules. Many governments around the world have introduced supportive policies and incentives to promote the adoption of solar energy. These policies, such as feed-in tariffs, tax credits, and renewable energy targets, encourage the growth of the solar PV industry, boosting the demand for solar PV glass.

Report Segmentation

The market is primarily segmented based on type, installation, end-use, and region.

By Type

By Installation

By End-Use

By Region

  • TCO Coated Solar PV Glass
  • AR Coated Solar PV Glass
  • Tempered Solar PV Glass
  • Others
  • Patterned Glass Technology
  • Float Glass Technology
  • Residential
  • Commercial
  • Industrial
  • Utility
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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By Type Analysis

  • AR-coated solar PV glass segment accounted for the fastest CAGR during the forecast period. 

AR-coated solar PV glass segment accounted for the fastest CAGR during the forecast period. Solar PV glass featuring an anti-reflective (AR) coating is a specialized type of solar glass engineered to elevate the efficiency and functionality of solar photovoltaic panels. This unique coating serves to curtail light reflection from the glass surface, facilitating a greater influx of sunlight to penetrate and be absorbed by the solar cells. AR coatings prove particularly valuable under conditions of reduced sunlight, such as during overcast or cloudy days. They sustain consistent energy production even when sunlight intensity is subdued. By optimizing energy conversion, AR-coated solar PV glass actively contributes to the reduction of greenhouse gas emissions. AR-coated solar PV glass is applicable across a diverse array of settings, ranging from residential rooftop installations to extensive solar farms and building-integrated photovoltaics (BIPV).

By Installation Analysis

  • The patterned glass technology segment held the largest market in 2022

In 2022, The patterned glass technology segment held the largest market. Patterned glass effectively scatters incoming sunlight in a controlled fashion. This dispersion minimizes glare and ensures uniform solar energy absorption across the entire panel surface, optimizing energy efficiency. These textured patterns mitigate the reflection and glare emanating from the glass, providing a more comfortable environment for those in proximity to the solar panels. It is particularly crucial in densely populated areas where glare reduction is paramount. Patterned glass technology offers the versatility to customize the appearance and functionality of Solar PV Glass, aligning with precise project requirements. It facilitates tailored solutions that harmonize with the desired aesthetics and utility for each installation.

By End-Use Analysis

  • Utility segment to experience considerable growth during the forecast period

The utility segment is expected to experience considerable growth during the forecast period. Solar PV Glass is extensively deployed in utility-scale solar farms, where extensive arrays of solar panels are employed to harness solar energy efficiently. These farms play a significant role in generating substantial electricity, which is then integrated into the power grid for widespread distribution. Solar PV Glass installations in the utility sector contribute to grid power, addressing the energy requirements of residential, commercial, and industrial users. This clean and renewable energy resource enhances grid reliability. Solar PV Glass serves as a critical tool in bringing electricity to remote and rural regions where conventional grid connectivity is challenging. These installations ensure a reliable and sustainable electricity source for underserved communities.

Regional Insights

  • Asia-Pacific held the largest market in 2022

In 2022, Asia-Pacific held the largest market. Government initiatives, including feed-in tariffs, subsidies, tax incentives, and renewable energy targets, fuel Asia-Pacific's solar PV glass market. These policies create a conducive environment for solar adoption. The increasing energy consumption across Asia-Pacific, driven by industrialization and population growth, places a higher demand on power generation. Solar PV glass provides a clean and sustainable solution to meet this rising energy need. The growing environmental consciousness and concerns about climate change have significantly contributed to the adoption of renewable energy sources. Solar PV glass aligns with these concerns by harnessing solar energy to reduce carbon emissions.

North America is expected to experience the fastest growth during the forecast period. Solar PV glass offers an attractive proposition for homeowners looking to lower energy costs, embrace sustainability, and enhance property value. Businesses and industrial facilities are benefiting from on-site electricity generation, reducing operational costs and boosting sustainability. The development of community solar initiatives expands access to renewable energy for multiple households or businesses, encouraging collaborative investments. Transparent solar panels for windows and building-integrated photovoltaics (BIPV) represent exciting growth prospects.

Key Market Players & Competitive Insights

The solar PV glass sector exhibits a fragmented landscape, and competition is expected to intensify due to the active participation of numerous players. Prominent firms in this industry consistently introduce innovative strategies to bolster their market position. These key players prioritize strategies like forming partnerships and fostering collaborations to gain a competitive edge over their peers and establish a significant market presence.

Some of the major players operating in the global market include:

  • AGC Solar
  • Borosil Renewables Ltd.
  • Canadian Solar
  • Flat Glass Group
  • JA SOLAR Technology Co.,Ltd.
  • Jinko Solar
  • KANEKA CORPORATION
  • Mitsubishi Electric Corporation
  • Onyx Solar Group LLC.
  • Saint Gobain
  • Trina Solar
  • Xinyi Solar Holdings Limited

Recent Developments

  • In August 2022, Nippon Sheet Glass Co. unveiled strategies to invest in the construction of a new manufacturing plant in Malaysia. This strategic investment aims to enhance the company's production capabilities for TCO-covered solar PV glass.  

Solar PV Glass Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 16.50 billion

Revenue forecast in 2032

USD 136.69 billion

CAGR

30.2% from 2024 – 2032

Base year

2023

Historical data

2019-2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Type, By Installation, By End Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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