The report “Solar Photovoltaic Glass Market by Type (AR-Coated, Tempered, TCO-Coated), Application, End User (Crystalline Silicon PV Module, Thin Film Module, Perovskite Module), Installation Technology & Region – Global Forecast to 2028“, size is projected to grow from USD 7.8 billion in 2023 and reach USD 27.3 billion by 2028, at a CAGR of 28.4% from 2023 to 2028. Technological advancements, government policies promoting renewable energy, and the overall growth of the solar industry are the key drivers for the solar photovoltaic glass market.
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• 343 Market data Tables
• 54 Figures
• 243 Pages and in-depth TOC on “Solar Photovoltaic Glass Market – Global Forecast to 2028″
Some of the prominent key players are:
· 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 Solar (Japan)
· Nippon Sheet Glass Co., Ltd. (Japan)
Recent Developments:
· In August 2022, Nippon Sheet Glass Co., Ltd. announced an investment to construct a new production site in Malaysia. The new site is set up to improve the company’s production capacity for TCO-coated solar PV glass.
· In April 2021, Borosil Renewables Ltd. announced the acquisition of two solar glass companies, Interfloat Corporation and Glasmanfaktur Brandenburg (GMB). The acquisition was made to strengthen the company’s supply chain across Europe.
Opportunity: Decreasing costs of solar systems and energy storage devices
The decreasing cost of solar panels presents a significant opportunity for the solar PV glass market. As advancements in technology, manufacturing processes, and economies of scale contribute to the overall affordability of solar energy, the demand for solar installations is on the rise. The reduced cost of solar panels positively influences the market by making solar power more accessible and cost-effective for consumers, businesses, and utility-scale projects. This increased affordability stimulates the demand for high-quality solar PV glass, which is critical in producing efficient and durable solar modules. The opportunity lies in the potential for the solar PV glass market to capitalize on the growing demand for solar panels, further driving innovation and market expansion as the solar industry becomes increasingly competitive and accessible.
During the forecast period, Asia Pacific will lead the global solar photovoltaic glass market.
In 2022, the Asia Pacific region held the dominant share in the global solar photovoltaic glass industry. Forecasts suggest this region will experience a significant Compound Annual Growth Rate (CAGR) between 2023 and 2028. One crucial factor is the rapid economic growth and urbanization in countries like China, India, and Southeast Asian nations, resulting in a surging demand for electricity. As these economies seek sustainable and clean energy solutions, solar power, supported by high-quality PV glass, has become crucial in meeting their increasing energy needs.