The global solar PV glass market was surpassed at USD 7.8 billion in 2021 and is expected to hit around USD 87.5 billion by 2030, growing at a CAGR of 30.81% from 2022 to 2030.
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.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 7.8 billion |
| Revenue Forecast by 2030 | USD 87.5 billion |
| Growth rate from 2022 to 2030 | CAGR of 30.81% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Application ,Region |
| Companies Covered |
Saint-Gobain, Yingli Green Energy Holding Company Ltd., Nippon Sheet Glass Co., Ltd., Trina Solar Ltd., Guardian Industries, and Asahi Glass Co., Ltd. |
Application Insights
In terms of revenue, utility was the largest application segment in 2021 and accounted for 54.3% of the total market share. Increasing demand for efficient and cost-competitive energy resources is expected to drive the product demand in utility segment over the next eight years.
Solar PV glass has become increasingly popular in the small-scale as well as large-scale power generation applications in utility segment. The main factors contributing to the large product demand in the utility sector include the ease of use and installation and the reduction in its prices. It is used in a variety of applications in the utility segment such as PV panels on building facades, utilization for powering specific equipment, cogeneration of power systems, solar energy for home at roof tops, and small & large power generation plants. Such trends have benefitted the demand for solar PV glass in utility application.
Rapid urbanization, increasing disposable income, and rising awareness regarding clean energy usage are anticipated to drive the residential solar PV capacity installation, thereby benefitting the demand for glass in the application. Governments are conducting awareness programs to encourage citizens to install rooftop solar systems. Subsidies are also being granted for such projects. Such trends are expected to benefit the overall segment growth from 2022 to 2030.
Solar PV installations are now designed in a way to ensure that they can withstand harsh environment, thus offsetting the upgrading and maintenance costs. There has been a rise in the adoption of installations by government institutes, non-profit organizations, and commercial entities to achieve sustainability goals. Such factors are expected to benefit the market demand in non-residential applications.
Regional Insights
In terms of volume, North America is anticipated to progress at the highest CAGR of 27.1% over the next eight years. North America has witnessed an increase in the installation of solar systems by a staggering 17% in 2021 as compared to 2020 One such example of a power station is Mojave Project, which was completed in the year 2014 and is based in Barstow, California. The increasing inclination toward renewable energy coupled with rising installations of solar energy plants is anticipated to boost the market over the forecast period.
Asia Pacific is expected to emerge as the largest market by the end of forecast period. Developing countries, such as China, South Korea, Japan, Indonesia, Malaysia, Pakistan, and India, are experiencing rapid growth in urbanization and population. These developing countries have a large number of unreliable power grids and fundamental infrastructure systems. This factor is expected to compel industry participants to invest in these countries, thereby boosting the growth of PV glass installations and distribution grids.
The European market is also expected to witness significant growth over the next eight years. The region is characterized by a high number of solar energy systems, which are utilized for space heating, water heating, district heating & cooling, and power generation. According to IEA, approximately 215,000 solar & battery powered vehicles were sold in the year 2020 in the region. The highly developed infrastructure along with the diligent efforts of the regional government to promote and employ renewable energy technologies is expected to positively drive the market over the next eight years.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1.Research Objective
1.2.Scope of the Study
1.3.Definition
Chapter 2. Research Methodology
2.1.Research Approach
2.2.Data Sources
2.3.Assumptions & Limitations
Chapter 3. Executive Summary
3.1.Market Snapshot
Chapter 4. Market Variables and Scope
4.1.Introduction
4.2.Market Classification and Scope
4.3.Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5.COVID 19 Impact on Solar PV Glass Market
5.1. COVID-19 Landscape: Solar PV Glass Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4.Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1.Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2.Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1.List of Suppliers
7.1.3.2.List of Buyers
Chapter 8. Global Solar PV Glass Market, By Application
8.1.Solar PV Glass Market, by Application Type, 2020-2030
8.1.1. Residential
8.1.1.1.Market Revenue and Forecast (2017-2030)
8.1.2. Non-residential
8.1.2.1.Market Revenue and Forecast (2017-2030)
8.1.3. Utility
8.1.3.1.Market Revenue and Forecast (2017-2030)
Chapter 9. Global Solar PV Glass Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Material (2017-2030)
9.1.2. Market Revenue and Forecast, by Product (2017-2030)
9.1.3. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. U.S.
9.1.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.1.5. Rest of North America
9.1.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.1.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. UK
9.2.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. Germany
9.2.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. France
9.2.6.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.7. Rest of Europe
9.2.7.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.7.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. India
9.3.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. China
9.3.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Japan
9.3.6.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.7. Rest of APAC
9.3.7.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.7.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. GCC
9.4.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. North Africa
9.4.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. South Africa
9.4.6.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.7. Rest of MEA
9.4.7.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.7.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Brazil
9.5.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.5.5. Rest of LATAM
9.5.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.5.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10.Company Profiles
10.1.Saint-Gobain
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2.Yingli Green Energy Holding Company Ltd.
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3.Nippon Sheet Glass Co., Ltd.
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4.Trina Solar Ltd.
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5.Guardian Industries
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
10.6.Asahi Glass Co., Ltd.
10.6.1.Company Overview
10.6.2.Product Offerings
10.6.3.Financial Performance
10.6.4.Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1.About Us
12.2.Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers