What is the global market size of Solar Photovoltaic Glass Market?

Solar Photovoltaic Glass Market size was valued at USD 6.76 billion in 2021 and is poised to grow from USD 8.85 billion in 2022 to USD 85.06 billion by 2030, at a CAGR of 32.5% during the forecast period (2023-2030).

Global Solar Photovoltaic Glass Market Size, Share, Growth Analysis, By Type(Anti-reflective coated glass, tempered glass), By End Use(Residential, commercial) - Industry Forecast 2024-2031

Report ID: SQMIG10B2051 | Region: Global | Published Date: March, 2024
Pages: 178 | Tables: 63 | Figures: 75

Global Solar Photovoltaic Glass Market News

In March 2024, Quanwei Solar Technology (QW Solar) entered the Japanese market at PV Expo Japan, presenting its high-effectiveness HJT bifacial dual-glass modules known as the "GIWA 5" series and the independently created "OrcaEnergy XII" series. They additionally uncovered late progressions from their collaboration with China's Ocean University, called the "Marine Photovoltaic Technology Joint Research and Development Center," which collected attention from participants and industry specialists alike. This marks QW Solar's emergence as a critical player in the HJT area, displaying its obligation to develop and grow its presence in the solar market.

In February 2024, Waaree Energies and Mahindra Susten forged a strategic partnership for a 280 MW solar-based module supply.
In December 2023, Solitek, a Lithuanian solar PV manufacturer under Global BOD, introduced a new PV carport product line designed for single-family homes, commercial, and industrial sites. This system includes frameless glass-glass modules with a load-bearing structure, along with all necessary fasteners, and offers a selection of inverters from reputable manufacturers like Fronius and Huawei.

Global Solar Photovoltaic Glass Market Report Snapshots

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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).

Global 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, global 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 global 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 global renewable energy growth by 2025, which further strengthens the dominance of the region in the solar PV glass market.

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Global Solar Photovoltaic Glass Market Size, Share, Growth Analysis, By Type(Anti-reflective coated glass, tempered glass), By End Use(Residential, commercial) - Industry Forecast 2024-2031

Global Solar Photovoltaic Glass Market News

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