Solar Photovoltaic Glass Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Solar Photovoltaic Glass Market is segmented by Type (Thin Film Silicon Glass, Cadmium Telluride Thin Film Glass, Crystalline Solar Glass, Amorphous Silicon Solar Glass, and Other Types), Application (Residential and Non-Residential), and Geography (Asia-Pacific, North America, Europe, South America and Middle-East and Africa). The report offers market size and forecasts for the solar photovoltaic market in revenue (USD million) for all the above segments.

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Solar Photovoltaic Glass Market Size

Solar Photovoltaic Glass Market Summary
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Study Period 2018 - 2028
Market Volume (2023) 13.35 Million tons
Market Volume (2028) 26.23 Million tons
CAGR (2023 - 2028) 14.47 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

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*Disclaimer: Major Players sorted in no particular order
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Solar Photovoltaic Glass Market Analysis

The Solar Photovoltaic Glass Market size is expected to grow from 13.35 million tons in 2023 to 26.23 million tons by 2028, at a CAGR of 14.47% during the forecast period (2023-2028).

Major factors driving the solar photovoltaic glass market are increasing the demand from non-residential sector and increasing number of subsidy schemes from government. High capital costs for installation and maintenance of photovoltaic glass is expected to hinder the growth of the market studied.

  • The non-residential sector dominated the solar photovoltaic glass market and is expected to grow during the forecast period, owing to the increasing demand for generation of green electricity.
  • The growing demand for producing green electricity to reduce air pollution is offering various opportunities for the growth of solar photovoltaic glass market.
  • Asia-Pacific region dominated the market for solar photovoltaic glass with China, Japan, and India representing major countries for consumption.

Solar Photovoltaic Glass Market Trends

Increasing Demand from Non-Residential Sector

  • Solar photovoltaic glass is a technology that enables the conversion of light into electricity. The glass is incorporated with transparent semiconductor-based photovoltaic cells, which are also known as solar cells. These cells are sandwiched between two sheets of glass, which enables them to capture these solar rays and convert them into electricity.
  • The power generated from solar photovoltaic cells reduces carbon footprints and greenhouse gas emissions and also ensures energy cost savings. Variance in photovoltaic efficiency and light penetration among these products enables multiple options for architectural design.
  • Solar photovoltaic glass can be easily integrated into buildings and rooftop systems, thereby creating renewable energy through the economical use of solar energy and creative architectural design.
  • Moreover, due to the rise of industrial activity in India, industry power demand will increase. As a result, rooftop solar installations would provide a robust option for enterprises to become self-reliant, which is expected to increase the rooftop solar market in India. For instance, in the fourth quarter (Q4) of 2022, India’s rooftop solar installations increased by almost 51% quarter-over-quarter, adding 483 MW compared to 320 MW. This represents a year-on-year growth of 20%. The industrial sector accounted for approximately 42% of all installations during the year. Therefore, increasing rooftop solar installations is expected to create an upside demand for the solar photovoltaic glass market.
  • The Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion). This is expected to complete between 2019 and 2023, creating scope for the application of solar photovoltaic glass in the non-residential sector.
  • Non-residential sector leads in the utilization of solar photovoltaic cells, with China, the United Kingdom, the United States, India, Japan, and Malaysia playing a major role in the solar photovoltaic glass market.
  • Due to all such factors, the market for solar photovoltaic glass is expected to have steady growth during the forecast period.
Solar Photovoltaic Glass Market: Solar PV Installed Capacity, in MW, World, 2018 - 2022

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the market for solar photovoltaic glass market. In developing countries, such as China, India, and Japan, the crisis in the supply of electricity has resulted in increasing the scope for the self-production of electricity using solar photovoltaic glass in the region.
  • The largest producers of solar photovoltaic glasses are located in the Asia-Pacific region. Some of the leading companies in the production of solar photovoltaic glasses are Jinko Solar, Mitsubishi Electric Corporation, Onyx Solar Group LLC, JA Solar Co. Ltd, and Infini Co. Ltd.
  • According to the International Renewable Energy Agency (IREA), solar photovoltaic energy capacity in India reached over 62.8 gigawatts in 2022, a 21.5% increase over 2021. As a result, an increase in the capacity of solar photovoltaic energy is expected to boost the solar photovoltaic glass market in the country.
  • The power generated from solar photovoltaic cells reduces carbon footprints and greenhouse gas emissions and also ensures energy cost savings.
  • Moreover, Japan is trying to expand its installed solar capacity due to efforts to reduce the share of nuclear in their energy mix and aims to expand installed solar capacity to nearly 108 GW by 2030. However, due to the high solar penetration rate in the residential sector, the ground-mounted segment is expected to grow at the fastest pace, creating a demand for larger, central inverters for large utility-scale projects.
  • Furthermore, as of 2021, China has an installed solar power capacity of over 300 gigawatts. China has made enormous strides in building up its solar power capacity within the past decade, growing its cumulative capacity from only 4.2 gigawatts in 2012 to 306.56 gigawatts in 2021.
  • The aforementioned factors, coupled with government support, are contributing to the increasing demand for the solar photovoltaic glass market during the forecast period.
Solar Photovoltaic Glass Market - Growth Rate by Region

Solar Photovoltaic Glass Industry Overview

The solar photovoltaic glass market is fragmented in nature. The major players in this market (not in a particular order) include Jinko Solar, Mitsubishi Electric Corporation, Onyx Solar Group LLC, JA Solar Technology Co., Ltd., and Infini Co. Ltd, among others.

Solar Photovoltaic Glass Market Leaders

  1. Jinko Solar

  2. Mitsubishi Electric Corporation

  3. INFINI Co. Ltd

  4. Onyx Solar Group LLC

  5. JA SOLAR Technology Co.,Ltd.

*Disclaimer: Major Players sorted in no particular order

Solar Photovoltaic Glass Market Concentration

Solar Photovoltaic Glass Market News

April 2023: Canadian Solar announced its majority-owned subsidiary CSI Solar Co., Ltd.'s 2024 capacity expansion plans. By the end of Q1 2024, CSI Solar intends to add 30 GW of ingot, 15 GW of the wafer, 10 GW of the cell, and 25 GW of module capacity.

November 2022: EE North America, a European Energy company, partnered with Elio Energy to develop a Solar Power Plant and Energy Storage in Arizona, USA. The construction of the 2 GW project will tentatively start in 2023.

Solar Photovoltaic Glass Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Non-residential Sector

      2. 4.1.2 Increasing Number of Subsidy Schemes from Government

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 High Capital Costs for Installation and Maintenance

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Thin Film Silicon Glass

      2. 5.1.2 Cadmium Telluride Thin Film Glass

      3. 5.1.3 Crystalline Solar Glass

      4. 5.1.4 Amorphous Silicon Solar Glass

      5. 5.1.5 Other Types

    2. 5.2 Application

      1. 5.2.1 Residential

      2. 5.2.2 Non-residential

        1. 5.2.2.1 Commercial

        2. 5.2.2.2 Industrial/Institutional

        3. 5.2.2.3 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/ Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Canadian Solar

      2. 6.4.2 INFINI Co. Ltd

      3. 6.4.3 JA SOLAR Technology Co.,Ltd.

      4. 6.4.4 Jinko Solar

      5. 6.4.5 KANEKA CORPORATION

      6. 6.4.6 KYOCERA Corporation

      7. 6.4.7 Mitsubishi Electric Corporation

      8. 6.4.8 Onyx Solar Group LLC.

      9. 6.4.9 SunPower Corporation

      10. 6.4.10 Trina Solar

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Demand for Producing Green Electricity

    2. 7.2 New Models Of Solar Cells Made of Thin Film Technology that use Narrow Coatings of Cadmium Telluride in Solar Cells, which have Higher Efficiency and Lower Cost

**Subject to Availability

Solar Photovoltaic Glass Industry Segmentation

Solar photovoltaic (PV) glass is a type of glass used to generate electricity from the sun using solar cells. It is put within a building's roof or facade to generate power for the building as a whole. In these glasses, solar cells are mounted between two glass panels that have a specific resin filling. These polymers completely enclose solar cells in security. Each cell in a module is joined to the other cells by two electrical connections. 

The market is segmented based on type, application, and geography. By type, the market is segmented into thin film silicon glass, cadmium telluride thin film glass, crystalline solar glass, amorphous silicon solar glass, and other types. By application, the market is segmented into residential and non-residential. The report offers market size and forecasts for 15 countries across major regions. 

For each segment, market sizing and forecasts have been done on the basis of revenue (USD million) for all the above segments.

Type
Thin Film Silicon Glass
Cadmium Telluride Thin Film Glass
Crystalline Solar Glass
Amorphous Silicon Solar Glass
Other Types
Application
Residential
Non-residential
Commercial
Industrial/Institutional
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Solar Photovoltaic Glass Market Research FAQs

The Solar Photovoltaic Glass Market size is expected to reach 13.35 million tons in 2023 and grow at a CAGR of 14.47% to reach 26.23 million tons by 2028.

In 2023, the Solar Photovoltaic Glass Market size is expected to reach 13.35 million tons.

Jinko Solar, Mitsubishi Electric Corporation, INFINI Co. Ltd, Onyx Solar Group LLC and JA SOLAR Technology Co.,Ltd. are the major companies operating in the Solar Photovoltaic Glass Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Solar Photovoltaic Glass Market.

Solar Photovoltaic Glass Industry Report

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Solar Photovoltaic Glass Market Report Snapshots

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