PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1446314
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1446314
The global solar photovoltaic glass market will rise from USD 7.8 billion in 2023 to USD 27.3 billion by 2028 at a CAGR of 28.4% from 2023 to 2028. Growing environmental awareness and the desire for clean energy solutions have influenced individuals, businesses, and governments to invest in solar power. Solar PV glass, a sustainable and environmentally friendly material, aligns with this shift towards conscious energy consumption. This factor is a critical driver fueling the growth of the solar photovoltaic glass market.
Scope of the Report | |
---|---|
Years Considered for the Study | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD Million/Billion), Volume (million square meters) |
Segments | Type, End-use, Application, Installation, and Region |
Regions covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa |
"The AR-coated segment is expected to hold the largest share of the solar photovoltaic glass market during the forecast period."
The AR-coated segment accounted for the largest share of the solar photovoltaic glass industry in 2022 due to its ability to improve light transmission. The coating reduces reflections on the glass surface, allowing more sunlight to reach the solar cells. This increased light transmission enhances the overall energy yield of the solar panels, making them more efficient in converting sunlight into electricity, driving its dominance in the AR-coated segment of the solar photovoltaic glass market.
"Utility is expected to be the largest segment of the solar photovoltaic glass market during the forecast period."
The utility segment is expected to be the most significant volume as global energy demand continues to rise; utilities are increasingly turning to solar power to meet electricity needs while reducing carbon emissions. Large-scale utility solar projects, such as solar farms and solar power plants, require vast quantities of solar PV glass to encapsulate photovoltaic modules and ensure efficient energy conversion.
"Crystalline silicon PV module segment is expected to lead the solar photovoltaic glass market during the forecast period."
Based on end-users, the crystalline silicon PV module segment is estimated to account for the largest share of the solar photovoltaic glass market in 2022 in terms of volume. The continued advancements in crystalline silicon technology, such as the development of bifacial modules and improvements in cell efficiency, further enhance the demand for specialized glass. Bifacial modules, in particular, can capture sunlight from both the front and rear sides, maximizing energy yield. This design requires high-transmission and low-reflectance solar PV glass for efficient light absorption. These factors contribute to the dominant position of crystalline silicon in the solar photovoltaic glass market.
"Patterned glass segment is expected to lead the solar photovoltaic glass market during the forecast period."
Based on installation, the patterned glass segment is estimated to account for the largest share of the solar photovoltaic glass market in 2022 in terms of volume. The growth of this segment is propelled by its effectiveness in BIPV applications, aesthetic appeal, and its potential to address performance challenges in utility-scale solar installations. As the industry continues prioritizing efficiency, durability, and aesthetics, the pattern glass segment is poised to play a vital role in shaping the future of solar energy integration and architecture.
"Asia Pacific is projected to hold the maximum market share of the solar photovoltaic glass market during the forecast period."
The Asia Pacific solar photovoltaic glass industry has been studied for China, Japan, India, South Korea, Vietnam, and the Rest of Asia Pacific. Technological advancements and manufacturing capabilities in the Asia-Pacific region contribute significantly to its solar PV glass market dominance. The region hosts several key players in the solar industry, with a focus on innovation and cost-effective solutions. China, in particular, has emerged as a global leader in solar panel production, driving the demand for specialized glass materials. The scale of production and the ability to cater to domestic and international markets position the Asia-Pacific region as a major hub for solar PV glass manufacturing.
Breakdown of primary interviews for the report on the solar photovoltaic glass market
Some of the leading manufacturers of solar photovoltaic glass profiled in this report include Xinyi Solar Holdings Ltd. (China), IRICO Group New Energy Co., Ltd. (China), Flat Glass Group Co., Ltd (China), Qingdao Jinxin Glass Co., Ltd. (China), Dongguan CSG Solar Glass Co., Ltd. (China), AGC Inc. (Japan), Nippon Sheet Glass Co., Ltd. (Japan), Taiwan Glass Ind. Corp. (Taiwan), and Sisecam (Turkey)
Research Coverage
The report defines, segments, and projects the solar PV glass market size based on type, application, end-user, installation, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as new product development, agreements, acquisitions, and expansions they undertake in the market.
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the solar PV glass market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the market's competitive landscape, gain insights to improve the position of their businesses and develop suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
development activities in the solar photovoltaic glass market.
geographies, recent developments, and investments in the solar photovoltaic glass market.