India Solar Photovoltaic Glass Market Assessment, By Product Type, By Application By Region, Opportunities and Forecast, FY2018-FY2032F

India solar photovoltaic glass market is projected to witness a CAGR of 8.32% during the forecast period FY2025- FY2032F, growing from USD 351.80 million in FY2024 to USD 666.50 million in FY2032. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years.

Multiple factors contribute to the rise in demand for solar photovoltaic glass in India such as rapid expansion of solar capacity, technological advancements, supportive government policies to boost domestic production capabilities, and protective measures to promote domestic manufacturing in the country. In addition, manufacturers of solar technologies are looking for high-quality glasses that improve the efficiency and performance of the solar system in harsh climates and create additional opportunities for the solar photovoltaic glass market growth in the coming years.

The country is looking to increase the solar generation capacity and investing in the large solar farm which is driving the demand for solar photovoltaic glass market in the coming years. For instance, as per the report from Central Electricity Authority from November 2024, India's total renewable energy installed capacity surged by 24.2 GW (13.5%) reaching 203.18 GW in October 2024, up from 178.98 GW in October 2023. This development highlights that the country is investing in the solar generation capacity which drives the demand for solar photovoltaic glass in the market.

Rapid Growth in Solar Power Capacity Accelerate Market Growth

The country is looking to boost solar power production while maintaining environmental sustainability. The rapid expansion of solar farms will increase the demand for high-quality solar modules to generate renewable energy, thereby driving demand for solar photovoltaic glass in the country.

India is highly focused on reducing carbon emissions by integrating large solar farms into the power supply. The country is heavily investing in developing large solar power capacity plants to reduce dependence on other energy sources. Solar technology products are being deployed in rooftop solar projects, urban and rural solar parks, and floating solar projects, which will drive the solar photovoltaic glass market share in the coming years. Additionally, the residential and commercial sectors are investing to expand solar capacity, further driving demand for solar photovoltaic glass in the market.

For instance, the Government launched the National Solar Mission (NSM) or Jawaharlal Nehru National Solar Mission (JNNSM), a key initiative by the Indian government with state involvement, which aims to foster environmentally sustainable growth and tackle India's energy security concerns. The mission seeks to position India as a global leader in solar energy by establishing policies that promote the rapid adoption of solar technology throughout the nation. This development will increase the revenue for India's solar photovoltaic glass market in the coming years.

As of January 2025, cumulative solar energy generation stood at 100.33 GW out of which Ground Mounted Solar Plant stood at 76.95 GW, Grid Connected Solar Rooftop at 16.28 GW, Hybrid Projects (Solar Component) at 2.85 GW and Off-Grid Solar with 4.25 GW.

Adoption of Advanced Solar Technology Solutions in the Country

With a growing emphasis on sustainability, the country is adopting advanced solar technologies which are used to reduce carbon footprints and reliance on fossil fuels. The ongoing innovations in solar PV glass technology are enhancing its adoption in various applications. Solar PV glass plays a crucial role in the development of solar technology which helps in the efficient transition to clean energy.

Rapidly increasing energy needs necessitate the deployment of advanced solar technologies such as bifacial solar panels, building integrated photovoltaics (BIVP), and others. The advanced solar technologies are efficient in harnessing sunlight which increases the demand for high-quality solar photovoltaic glass in the market. Solar PV glass is versatile and appealing for various applications which contributes to increasing its market demand.

BIPV technology solutions allow for the seamless integration of solar technology into building materials. The integration transforms traditional building elements into energy-generating surfaces which makes solar photovoltaic glass an essential component in modern architecture. Builders and architects are adopting the BIVP technology in construction which drives the demand for specialized solar glass designed for the application.

In January 2025, Borosil Renewables Limited announced to expand its production capacity 1,000 tons to 1,500 tons per day. This expansion is a response to the government's establishment of a "Reference Price" for imports, which tackles the issue of dumping cheap solar glasses in the country. The initiative seeks to strengthen domestic production, secure a stable supply chain for local PV module manufacturers, and reduce foreign exchange outflows.

Favorable Government Policies and Initiatives Driving Market Opportunity

The government and higher authorities came up with innovative policies for the upliftment of the solar energy market in the country. The schemes include facilitating access to loans, lowering initial costs, providing economic incentives, and promoting market awareness, which drives the demand for solar system installation and further creates opportunities for the solar photovoltaic glass market.

Moreover, the Indian government has commenced and implemented various policies such as "Make in India" and "Atmanirbhar Bharat" to uplift the production of solar components which drives investment in the solar photovoltaic glass market. Major players like Vishakha Renewables and Borosil Renewables Limited are investing in expanding the production capabilities of solar photovoltaic glass as the domestic supply is expected to grow significantly. Moreover, in 2021, Vishakha Renewable collaborated with Asahi India Glass Limited for the establishment of a large-scale manufacturing facility that enhanced local production.

Furthermore, the Indian government has imposed anti-dumping duties on solar photovoltaic glass which is imported from China and Vietnam to protect domestic manufacturers from unfair pricing practices. The measure aims to level the playing field for local producers and is expected to further boost domestic production capacity in the forecast period.

For instance, in March 2023, the Government of India launched the Production Linked Incentive (PLI) scheme to support the domestic manufacturing of high-efficiency solar modules and components and encourage manufacturers to invest in both domestic and international markets. This development will help the solar manufacturer to produce highly efficient solar panels and components in the country.

Anti-Reflective Coated Glass to Dominate the India Market

Anti-reflective coated glass experienced a high adoption rate in the forecast period which made the segment dominate the Indian market. Anti-reflective (AR) coated glass comes with several advantages that significantly enhance the efficiency and performance of solar panels and BIPV technology. Anti-reflective solar photovoltaic glasses are specifically designed to minimize the reflection of sunlight. The anti-reflective coated glass boosts the absorption of light by the panels which allows for greater energy conversion.

The rise in the deployment of solar panels significantly drives the demand for anti-reflective coated glass. Consumers prefer the enhanced energy efficiency product for the renewable energy generation which fosters the anti-reflective coated glass market size.

Anti-reflective coated glass improves the performance of solar panels and contributes to energy savings in buildings by allowing more natural light while reducing glare. The benefits associated with anti-reflective coated glass encourage consumers and businesses to invest in advanced glass solutions.

West and Central Region Leads the Solar Photovoltaic Glass Market Share in India

The west and central regions dominate the solar photovoltaic glass market in India and are expected to continue their dominance during the forecast period. The regions include states like Gujarat, Maharashtra, and Madhya Pradesh which receive high solar irradiance making the region ideal for solar energy generation. Moreover, the state governments offer various incentives such as subsidies, tax benefits, and net metering policies which make solar installations more financially attractive in the region. Manufacturers are investing in the production of solar photovoltaic glass for different applications which leads the region to dominate

Furthermore, the region has rapid urbanization which has led to increased demand for solar power generation technologies. States like Gujarat and Maharashtra are looking to establish large-scale solar parks which attract significant investments from both domestic and international players. Large-scale solar parks require substantial amounts of solar PV panels. The establishment of large solar farms boosts local economies and drives up the demand for related materials, including solar glass in the market.

Future Market Scenario (FY2025 - FY2032F)

The rise in the adoption of enhanced renewable energy technologies is another significant trend that drives the demand for the solar photovoltaic glass market.

The government taking the initiative and implementing policies to boost local manufacturing of solar components, including PV glass which boosts the solar photovoltaic market size in the forecast period.

Advancements in solar glass technology are expected to enhance efficiency and performance which will drive the adoption rate of solar technologies in different sectors.

The trend towards Building-Integrated Photovoltaics (BIPV) and bifacial panels is gaining momentum which drive the solar photovoltaic glass market in the forecast period.

Key Players Landscape and Outlook

Continuous innovation characterizes the landscape of solar photovoltaic glass globally, as the companies compete in terms of energy efficiency, product life, and unique features. The market outlook remains positive, owing to increased demand for renewable energy and increasing investment in solar panels. Solar photovoltaic glass players are concerned with supply chain resilience, energy efficiency, and environmental practices, which will define the industry's future. Product launches, agreements, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.

For instance, in January 2025, Gold Plus Glass Industry Limited announced the expansion of its phase wise glass manufacturing facility in Karnataka which includes float glass with a capacity of 584,000 metric tons per year and was commissioned in June 2024 and has entered in solar glass manufacturing with an annual capacity of 109,500 metric tons per year. This development will help to fulfil the increasing demand for solar PV glass to produce solar panels which will help the company increase its business and market reach.