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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Solar PV Glass Market: By Glass Type, By End-User, and Region Forecast 2019-2030
Solar PV Glass Market size was valued at US$ 15,811.9 million in 2023 and is poised to grow at a CAGR of 24.8% from 2024-2030. Solar photovoltaic (PV) glass is a type of glass that converts solar energy into electricity using solar cells. It is installed on the roofs or facades of buildings to generate enough energy to power the entire structure. An increase in the demand for solar photovoltaic glass installation in developed and developing countries coupled with a decrease in PV module prices, and a rise in rooftop solar installation demand, particularly from the residential sector are a few factors burgeoning the solar PV module installation volume.
Moreover, technological advancements are revolutionizing the solar PV industry, enhancing efficiency and affordability. Innovations in panel designs, energy storage, and smart grid technologies are making solar power more accessible and reliable. 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.
According to Mercom Capital Group, the top ten utility-scale solar developers accounted for 145 GW of projects between July 2022 and June 2023, with Total Energies leading at 41.3 GW capacity. Despite challenges like supply chain limitations and permitting obstacles, government support initiatives are expected to transform the energy industry. M&A activity is predicted to increase significantly in 2024. Researchers have made progress with multi-junction PV cells, achieving efficiencies of over 45%. Bifacial solar panels, which capture 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. The U.S. Department of Energy notes that a significant portion of sunlight is lost during the conversion process. Manufacturing costs and material availability remain challenges. Emerging trends include advances in silicon photovoltaic technology, which dominates over 90% of the global market. Floating solar farms are addressing land scarcity in densely populated regions, with South Korea constructing the world's largest floating solar power plant on the Saemangeum tidal flats, expected to generate 2.1 gigawatts of electricity.
Study Period
2024-2030Base Year
2023CAGR
24.8%Largest Market
Asia-PacificFastest Growing Market
Asia-Pacific
Technological advancements are significantly enhancing the efficiency and affordability of solar PV systems. Innovations in solar panel designs, energy storage solutions, and smart grid technologies are making solar power more accessible and reliable. The integration of artificial intelligence (AI) and machine learning in solar operations is optimizing energy production, reducing maintenance costs, and improving overall system performance.
For example, in November 2023, a new solar technology set a world record for efficiency. The previous record, established only five months earlier, was quickly surpassed. This rapid progress is due to the development of perovskite tandem solar cells, a next-generation solar technology. These cells combine traditional silicon with materials possessing a unique crystal structure, enabling them to convert more sunlight into electricity. Over the past decade, perovskite solar technology has continuously broken its efficiency records. Unlike silicon cells, which dominate 95% of the solar market and have a maximum efficiency below 30%, perovskite cells absorb different light wavelengths and can achieve efficiencies of around 26% in experimental settings. However, perovskite tandem cells, which pair silicon and perovskites, have already surpassed 33% efficiency in laboratory conditions
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 15,811.9 million |
Market CAGR |
24.8% |
By Glass |
|
By End User |
|
By Region |
|
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The solar PV glass market size was valued at US$ 15,811.9 million in 2023 and is set to grow at a significant CAGR of 24.8% from 2024-2030.
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 the market.
Asia Pacific accounts for the largest market share and is expected to be the primary market driver in the solar PV glass market. Close to 94% of solar PV production comes from the region and majorly from the China.
Limitations on PV efficiency, geographic constraints, and lack of awareness are expected to limit the growth of the solar PV glass market.
1.Executive Summary |
2.Global Solar PV Glass Market Introduction |
2.1.Global Solar PV Glass Market - Taxonomy |
2.2.Global Solar PV Glass Market - Definitions |
2.2.1.Glass Type |
2.2.2.End-user |
2.2.3.Region |
3.Global 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.Global 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.Global Solar PV Glass Market By Glass Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. 3.2 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.Global 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.Global Solar PV Glass Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. North America |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Europe |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Asia Pacific (APAC) |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Middle East and Africa (MEA) |
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. Latin America |
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
8.North America Solar PV Glass Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. Glass Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.1.1.3.2 mm |
8.1.2.2 mm |
8.2. End-user Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.2.1.Residential |
8.2.2.Commercial |
8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.3.1.United States of America (USA) |
8.3.2.Canada |
9.Europe Solar PV Glass Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Glass Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.3.2 mm |
9.1.2.2 mm |
9.2. End-user Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Residential |
9.2.2.Commercial |
9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Germany |
9.3.2.France |
9.3.3.Italy |
9.3.4.United Kingdom (UK) |
9.3.5.Spain |
10.Asia Pacific (APAC) Solar PV Glass Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Glass Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.3.2 mm |
10.1.2.2 mm |
10.2. End-user Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Residential |
10.2.2.Commercial |
10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.China |
10.3.2.India |
10.3.3.Australia and New Zealand (ANZ) |
10.3.4.Japan |
10.3.5.Rest of APAC |
11.Middle East and Africa (MEA) Solar PV Glass Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Glass Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.3.2 mm |
11.1.2.2 mm |
11.2. End-user Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Residential |
11.2.2.Commercial |
11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.GCC Countries |
11.3.2.South Africa |
11.3.3.Rest of MEA |
12.Latin America Solar PV Glass Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Glass Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.3.2 mm |
12.1.2.2 mm |
12.2. End-user Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Residential |
12.2.2.Commercial |
12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Brazil |
12.3.2.Mexico |
12.3.3.Rest of LA |
13. Competition Landscape |
13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
13.2.1.AGC Inc. |
13.2.2.Nippon Sheet Glass Co., Ltd. |
13.2.3.Xinyi Solar Holdings Ltd. |
13.2.4.Saint-Gobain S.A. |
13.2.5.Borosil Renewables Limited |
13.2.6.Euroglas GmbH |
13.2.7.Trina Solar Limited |
13.2.8.Canadian Solar Inc. |
13.2.9.JA Solar Holdings Co., Ltd. |
13.2.10.JinkoSolar Holding Co., Ltd. |
13.2.11.SunPower Corporation |
13.2.12.Sisecam Flat Glass |
14. Research Methodology |
15. Appendix and Abbreviations |
Key Market Players