Solar Photovoltaic Glass Market

Solar Photovoltaic Glass Market Analysis by Type (Anti-Reflective Coated Glass, Tempered Glass, TCO Glass, and Others) By Technology (Float, Pattern) and End-Use Industry (Residential, Commercial, and Utility-Scale): Global Opportunity Analysis and Industry Forecast, 2023-2031

Energy & Power | March 2023 | Report ID: EMR0063 | Pages: 215

The global solar photovoltaic glass market size reached US$ 12.2 Billion in 2022 and the market is expected to reach US$ 51.7 Billion by 2031, exhibiting a growth rate (CAGR) of 25.75% during 2023–2031.

Solar Photovoltaic (PV) glass is a glass that utilizes solar cells to convert solar energy into electricity. It is installed within the roofs or façade areas of buildings to produce power for an entire building. In these glasses, solar cells are fixed between two glass panes, which have a special filling of resin. These resins securely wrap solar cells from all sides. Each cell is connected with two electrical connections and is attached to other cells to form a module.

The factors driving the growth of the solar PV glass market include supportive government regulations toward the installation of Solar PV plants. In addition, the rise in demand for solar systems at the residential, commercial, and utility scales boosts the growth of the solar PV glass market. However, the high cost involved with installation, storage, and the purchase of solar devices is expected to hamper the growth of the market. The global solar PV glass market is yet to explore its full potential. The rise in demand for renewable energy is expected to offer growth opportunities for the market. Feed-in Tariff (FIT) program allows homeowners, communities, and business owners, to generate renewable energy and trade it with a guaranteed price for a fixed contract under multiple terms and conditions. The FIT is the amount paid per kilowatt-hour (kWh) of electricity delivered to a provincial grid under the FIT contract. 

 

Solar Photovoltaic Glass Market REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2022)

$12.2 Bn

Projected Market Value (2031)

$51.7 Bn

Base Year

2022

Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Technology, By End-Use Industry & By Region

Segments Covered

By Type, By Technology, By End-Use Industry & By Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Market Dynamics

Market Drivers

Solar PV glass is expected to become very popular, gradually replacing traditional building materials in areas such as windows, roofs, skylights, and facades. Furthermore, there is a high demand in developing economies for solar photovoltaic glass in the industrial and commercial sectors, which drives market growth.

The growing awareness of the benefits of renewable energy solutions, combined with the constant need to limit environmental degradation, will drive the growth rate of the solar photovoltaic glass market even further. Furthermore, laws to reduce greenhouse gas emissions will drive market value growth. Other market growth determinants expected to support market growth include an increase in demand for green building technology in residential and commercial buildings, as well as the adoption of sustainable energy for building envelopes.

Market Opportunities

Furthermore, governments across multiple countries have worked to encourage the use of renewable energy sources in order to provide profitable opportunities to market participants from 2023 to 2031. Furthermore, the advent of green building construction technology, which increasingly employs solar photovoltaic glasses as part of sustainable construction, expands the market's future growth.

Market Restraints

Solar PV glass technology, on the other hand, has a high installation cost. The cost of installing solar PV glass varies by country and location, but it is frequently higher in emerging and developing economies. This factor will stymie the growth of the solar photovoltaic glass market.

Furthermore, the low operational efficiency of photovoltaic modules is considered a disadvantage for the solar photovoltaic glass market. As a result, the rate of growth of the solar photovoltaic glass market will be challenged.

This solar photovoltaic glass market report discusses recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, and product launches. Contact Econ Market Research for an Analyst Brief to learn more about the solar photovoltaic glass market. Our team will assist you in making an informed market decision to achieve market growth.

COVID-19 Impact on Solar Photovoltaic Glass Market

The recent coronavirus outbreak has had a negative impact on the solar photovoltaic glass market. As a result of the spread of COVID-19, lockdowns and import-export restrictions have been imposed all over the world. Significant interruptions in various production and supply-chain processes have resulted in significant financial losses for the market as a result of numerous precautionary lockdowns imposed by governments to control the spread of disease. This has invariably hampered the global photovoltaic glass market's growth. Solar PV installations are expected to fall significantly in 2020 due to supply issues, shelter-in-place restrictions, and project financing tightening. As a result, growth in the photovoltaic glass market will be slower than usual in the near future.

Segment Analysis

The global solar PV glass market is classified by type and end-use industry. Anti-reflective coated glass, tempered glass, TCO glass, and other types are available. In the global solar photovoltaic market, the tempered glass segment is dominant. Tempered glass is used in solar panels because it is much stronger than other types of glass and shatters into small pieces when broken. Because solar panel installation requires both strength and safety, the demand for solar tempered glasses is expected to rise.

The residential, commercial, and utility scale segments of the solar photovoltaic glass market application/end-use industry are further subdivided. The market is divided into four regions: North America, Asia-Pacific, Europe, and Latin America and the Caribbean.

Among all end-use industries, the utility scale industry has the largest solar photovoltaic glass market share and is expected to grow at the fastest CAGR during the forecast period. Utility-scale solar plants offer fixed-priced electricity during peak demand periods, when fossil-fuel electricity is the most expensive. It has aided in the development of clean energy, lowering carbon pollution in the atmosphere. The increase in demand for solar glasses in panels for the utility scale industry is expected to provide market growth opportunities.

Regional Analysis

As mentioned above, the solar photovoltaic glass market is analysed, and market size insights and trends are provided by country, type, module, installation technology, and end-user.

Because of the region's increasing use of solar photovoltaic glass in aerospace applications, North America dominates the solar photovoltaic glass market. Asia-Pacific, on the other hand, is expected to grow rapidly due to increased spending on research and development for defence and aerospace applications in the region's emerging economies.

The report's country section also includes individual market impacting factors and changes in market regulation that affect the market's current and future trends. Downstream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the data points used to forecast the market scenario for individual countries. Additionally, the presence and availability of global brands, as well as the challenges they face due to large or scarce competition from local and domestic brands, are taken into account when providing forecast analysis of country data.

Competitive Landscape

Some of the major players operating in the solar photovoltaic glass market are

  • AGC Glass Europe. (Japan)
  • Nippon Sheet Glass Co., Ltd. (Japan)
  • Taiwan Glass Industry Corporation (Taiwan)
  • Xinyi Solar Holdings Limited (China)
  • Sisecam (Turkey)
  • Guardian Glass (Thailand)
  • Saint-Gobain (France)
  • Borosil Limited (India)
  • China-Henan Huamei Chemical Co., Ltd., (China)
  • Interfloat Corporation (Germany)
  • Guangdong Golden Glass Technologies Ltd., (China)
  • Hecker Glastechnik GmbH & Co. KG (Germany)
  • ENF Ltd., (Germany)
  • Emmvee Toughened Glass Private Limited (India)
  • Euroglas GmbH (Germany)

 

Solar Photovoltaic Glass Market Report Segmentation

ATTRIBUTE

DETAILS

By Type

  • Anti-reflective Coated Glass
  • Tempered Glass
  • TCO Glass
  • Others

By Technology

  • Float
  • Pattern

By End-use Industry

  • Residential
  • Commercial
  • Utility-scale

By Geography

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Key Benefits of the Report

  • This study presents an analytical depiction of the Solar Photovoltaic Glass industry along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to market key drivers, restraints, and opportunities, along with detailed analysis of the Solar Photovoltaic Glass Market share.
  • The current market is quantitatively analyzed to highlight the Solar Photovoltaic Glass Market's growth scenario.
  • Porter's five forces research demonstrates the market power of suppliers and buyers.
  • The report provides a detailed Solar Photovoltaic Glass market analysis based on competitive intensity and how the competition will take shape in the coming years.

The Report Answers Questions Such As:

  • What is the potential opportunity for the Solar Photovoltaic Glass Market.
  • What are the major drivers, restraints, and opportunities of the Solar Photovoltaic Glass Market.
  • What is the market share of the leading segments and sub-segments of the Solar Photovoltaic Glass Market in the forecast period (2023-2031).
  • How is each segment of the Solar Photovoltaic Glass Market expected to grow during the forecast period.
  • What is the expected revenue to be generated by each of the segments by the end of 2031.
  • What are the key development strategies implemented by the key players to stand out in this Solar Photovoltaic Glass Market.
  • What is the preferred business model used for building Solar Photovoltaic Glass Market.
  • Which area of application is expected to be the highest revenue generator in the Solar Photovoltaic Glass Market during the forecast period.
  • Which end-user segment is expected to be the highest revenue generator in this industry during the forecast period.
  • What is the potential of Solar Photovoltaic Glass Market in the emerging countries during the forecast period.

 

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

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