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Middle East and Africa Solar PV Glass Market is experiencing significant growth, with installed and glass consumed volume reaching 172.0 million sq.mts in 2023 and projected to grow at a CAGR of 6.9%. Solar PV glass, which converts solar energy into electricity using solar cells, is gaining traction in MEA countries due to increased demand for solar PV installations, decreasing PV module prices, and rising rooftop solar installations, particularly in the residential sector. Technological advancements are revolutionizing the market, enhancing efficiency and affordability through innovations in panel designs, energy storage, and smart grid technologies.
The integration of AI and machine learning is optimizing energy production and reducing costs. In November 2023, perovskite tandem solar cells set a new world record for efficiency, surpassing the previous record set just months earlier. The availability of funding for household, commercial and industrial, and utility-scale projects has further accelerated the adoption of solar photovoltaic systems. The financial sector in South Africa has created innovative financing options that address the unique requirements of C&I and residential projects. However, challenges such as skill shortages and prolonged equipment delays negatively impact the growth of the solar PV glass installation market across the country.
Moreover, low available grid capacity in high-yield areas, particularly in the Northern Cape, Eastern Cape, and Western Cape is impeding the expansion of the utility-scale sector. In the medium to long term, it is anticipated that the establishment of an independent TSO entity will facilitate the installation of additional transmission infrastructure. Despite challenges like supply chain limitations and permitting obstacles, the MEA solar PV glass market is expected to transform, with M&A activity predicted to increase significantly in 2024. Researchers have made progress with multi-junction PV cells, achieving efficiencies of over 45%. Bifacial solar panels, capturing light on both sides, show 30-40% higher efficiency when combined with sun-tracking technology. Agrivoltaics, integrating solar panels with farmland, addresses land-use conflicts and can increase farm yields. However, limitations on PV efficiency, geographic constraints, and lack of awareness hinder adoption. Installing rooftop solar PV systems has grown in popularity as an affordable method for energy consumers of all sizes to strengthen their resilience against load shedding and rising power prices. The availability of various funding options coupled with supportive legislation and regulations have supported the rooftop installation in the region.
To encourage the development of distributed generation projects, the South African government implemented two tax subsidy programmes for the PV industry totaling 4 billion rands (about $210 million). From March 1, 2023, to March 1, 2024, persons who pay personal income tax and install PV modules with a minimum power output of 275 W or greater will be eligible for a 25% tax credit, up to 15,000 rands ($811) per person. This discount only applies to modules, not other components such as energy storage batteries or diesel generators. The fluctuations in energy addition capacity across South Africa over the historic years due to inconsistent GDP growth, increased unemployment, and energy crises. The average actual GDP growth in the ten years leading up to 2022 was around 1.0%, which was less than the average for Sub-Saharan Africa which was about 3.0%. The main driver of both C&I and residential solar PV installations and solar PV and storage installations has been the shortage in energy generation and the consequent power cuts. Due to the shortage, regulations have had to be changed to allow the private sector to participate in utility-scale power generation projects. However, the South African economy is expected to develop modestly between 2024 and 2027, averaging 1.6% yearly growth. Furthermore, a decrease in inflation is expected, which will boost buying power and encourage consumer spending. In addition, Increased investment in energy production is also anticipated, which may help ease some of the nation's energy shortage.
The MEA solar PV glass market was valued at USD 595.5 million in 2023 and is expected to grow at a 4.9% CAGR from 2024 to 2030.
AGC Inc., Nippon Sheet Glass Co., Ltd., Xinyi Solar Holdings Ltd., Saint-Gobain S.A., Borosil Renewables Limited, Euroglas GmbH, and Trina Solar Limited are some of the major players operating in MEA solar PV glass market.
Limitations on PV efficiency, geographic constraints, and lack of awareness are expected to limit the growth of the MEA solar PV glass market.
1.Executive Summary |
2. Middle East and Africa Solar PV Glass Market Introduction |
2.1. Middle East and Africa Solar PV Glass Market - Taxonomy |
2.2. Middle East and Africa Solar PV Glass Market - Definitions |
2.2.1.Glass Type |
2.2.2.End User |
3. Middle East and Africa Solar PV Glass Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4. Middle East and Africa Solar PV Glass Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Middle East and Africa Solar PV Glass Market By Glass Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. 2 mm |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. 2 mm |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6. Middle East and Africa Solar PV Glass Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Residential |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Commercial |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
7. Competition Landscape |
7.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
7.2.1.AGC Inc. |
7.2.2.Nippon Sheet Glass Co., Ltd. |
7.2.3.Xinyi Solar Holdings Ltd. |
7.2.4.Saint-Gobain S.A. |
7.2.5.Borosil Renewables Limited |
7.2.6.Euroglas GmbH |
7.2.7.Trina Solar Limited |
7.2.8.Canadian Solar Inc. |
7.2.9.JA Solar Holdings Co., Ltd. |
7.2.10.JinkoSolar Holding Co., Ltd. |
7.2.11.SunPower Corporation |
7.2.7.Sisecam Flat Glass |
7.2.8.PPG Industries, Inc. |
7.2.9.Corning, Inc. |
7.2.15.Guardian Industries |
8. Research Methodology |
9. Appendix and Abbreviations |