Solar Photovoltaic Glass Market Size, Share, Growth Analysis, By Type(Anti-reflective coated glass, tempered glass, and others), By End Use(Residential, commercial, and utility-scale solar projects), By Region - Industry Forecast 2024-2031

Solar Photovoltaic Glass Market size was valued at USD 8.85 billion in 2022 and is poised to grow from USD 11.73 billion in 2023 to USD 111.40 billion by 2031, at a CAGR of 32.5% during the forecast period (2024-2031).

Solar Photovoltaic (PV) Glass Market is highly competitive, with several major players competing for market share. To acquire a competitive edge in the market, some of the major competitors are concentrating on various methods like mergers and acquisitions, partnerships, collaborations, and new product development. The market is also observing increased investment in R&D projects to create novel and inventive solar PV glass products with higher durability and efficiency. Furthermore, companies are expanding their geographical reach by expanding their distribution networks and establishing new production facilities in emerging markets. 'AGC Inc. (Japan)', 'Nippon Sheet Glass Co., Ltd. (Japan)', 'Xinyi Solar Holdings Ltd. (Hong Kong)', 'Saint-Gobain S.A. (France)', 'Trina Solar Limited (China)', 'Canadian Solar Inc. (Canada)', 'JA Solar Holdings Co., Ltd. (China)', 'JinkoSolar Holding Co., Ltd. (China)', 'Yingli Green Energy Holding Company Limited (China)', 'First Solar, Inc. (US)', 'SunPower Corporation (US)', 'Hanwha Q Cells Co., Ltd. (South Korea)', 'GCL-Poly Energy Holdings Limited (Hong Kong)', 'Longi Green Energy Technology Co., Ltd. (China)', 'China Sunergy Co., Ltd. (China)', 'Renesola Ltd. (China)', 'Sisecam Flat Glass (Turkey)', 'Borosil Renewables Limited (India)', 'Euroglas GmbH (Germany)', 'Guangdong Golden Glass Technologies Ltd. (China)'

One of the major drivers of the solar PV glass market is the growing demand for clean and renewable sources of energy. The adoption of solar energy is increasing due to the rising concerns over environmental pollution, warming, and the depletion of non-renewable resources. For instance, China, which is the largest market for solar PV glass, is aiming to increase the share of renewable energy in its total energy mix to 35% by 2030, as part of its commitment to the Paris Climate Agreement.

Increasing demand for building-integrated photovoltaics (BIPV): BIPV refers to the integration of solar PV modules into building materials such as glass, facades, and roofing systems. This trend is gaining popularity due to the aesthetic appeal of integrated solar panels, as well as the potential cost savings from using the building material itself as a source of energy. For example, Tesla has launched a range of solar glass roof tiles that can generate electricity and replace traditional roofing materials.

Asia Pacific dominated the solar PV glass market. This can be attributed to the significant investments being made in the renewable energy sector by countries like China and India. Additionally, favorable government initiatives and policies promoting the use of solar energy are driving the growth of the market in the region. According to the International Energy Agency, Asia is expected to account for two-thirds of the renewable energy growth by 2025, which further strengthens the dominance of the region in the solar PV glass market.