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

Global 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).

The global solar photovoltaic glass market is a rapidly growing market that is expected to witness significant growth in the coming years. The key drivers of the market include the increasing adoption of solar energy as a primary source of renewable energy, the rising demand for solar PV systems across various end-use industries, and the favorable government initiatives and incentives to promote the installation of solar PV systems.

According to recent reports, the global solar PV capacity increased by 13% in 2020, reaching a total of 773.2 GW, with China, the United States, and India leading the way in terms of solar PV installations. However, the market also faces several challenges and restraints, such as high production costs, the limited availability of raw materials, and competition from other renewable energy sources such as wind and hydropower. In addition, the COVID-19 pandemic has also affected the market, with supply chain disruptions and reduced demand due to the economic slowdown. Despite these challenges, the market is witnessing several key trends, such as the increasing use of bifacial solar PV panels, which can capture sunlight from both sides, and the development of innovative solar PV glass technologies, such as anti-reflective coatings and self-cleaning glass.

US Solar Photovoltaic Glass Market is poised to grow at a sustainable CAGR for the next forecast year.