Solar PV Glass Market Size To Reach $47.16 Billion By 2030

Solar PV Glass Market Growth & Trends

The global solar PV glass market size is expected to reach USD 47.16 billion by 2030, registering a CAGR of 29.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing social and political consensus aimed at adopting clean energy sources is expected to drive the market in the coming years.

Solar PV glass is being increasingly used in various applications such as residential, non-residential and utility sectors. Tempered glass, in particular, is being employed in roofing applications as well as in the manufacturing of glass windows. In developing countries, regional governments are taking various initiatives to install solar panels not only on newly constructed buildings but also on old building structures. Government initiatives to achieve a sustainable future with clean energy are anticipated to positively drive the market over the forecast period.

Residential application segment is witnessing growth due to the rising penetration from untapped markets such as Asia Pacific as well as Central & South America. First-mover advantage and relatively low acquisition cost in untapped regions remain key driving factors in this application segment. However, the cost and length of customer acquisition is a primary concern and is projected to restrain the growth of the application segment over the next eight years.

North America is expected to witness the highest growth rate over the forecast period. The U.S. government is actively investing in solar energy plants to achieve a future with sustainable energy. According to the International Energy Agency (IEA), the U.S. government has passed multi-year extension of tax credits for renewable energy plants such as concentrating solar power (CSP) and solar PV glass stations. The government has laid down supportive environment policies at the state level for the installation and operation of these renewable energy plants & power stations.

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Solar PV Glass Market Report Highlights

• The AR coated segment dominated the market and accounted for a revenue share of 46.7% in 2023. AR coatings reduce sunlight reflected off the glass surface, allowing more light to enter the photovoltaic cells.

• The crystalline solar PV module segment accounted for the largest market revenue share in 2023. Crystalline solar PV modules, including monocrystalline and polycrystalline types, are highly efficient and perform effectively in converting sunlight into electricity.

• The utility segment accounted for the largest market revenue share in 2023. Utility-scale solar projects benefit economically, which reduces the overall cost of solar power generation.

• The Asia Pacific solar PV glass market accounted for the largest revenue share of 59.4% in 2023. The region benefits from favorable climate conditions and abundant solar resources.

Solar PV Glass Market Segmentation

Grand View Research has segmented the global solar PV glass market on the basis of on type, technology, application and region:

Solar PV Glass Type Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• AR Coated

• Tempered

• TCO-coated

Solar PV Glass Technology Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• Crystalline Solar PV Module

• Thin Film Module

• Perovskite Module

Solar PV Glass Application Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• Residential

• Non-residential

• Utility

Solar PV Glass Regional Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Solar PV Glass Market

• First Solar

• Xinyi Solar Holdings Limited

• Nippon Sheet Glass Co., Ltd

• Yingli Solar

• SunPower Corporation

• RENESOLA

• Hanwha Group

• Saint-Gobain S.A

• Guardian Industries

• Borosil Glass Works Limited