Solar PV Glass Market

Government policies used for the production of renewable energy are driving the market growth

The main factor promoting the development of solar energy systems and related products is the support given by governments all over the world. These governments are always trying to develop better feed-in-tariff and solar rebate laws to make it easier to connect to the grid and give different photovoltaic projects financial support. Several nations, including the US, China, India, and Germany, are actively pushing the use of solar energy. For example, the US Department of Energy introduced a 26% tax credit program for homes with solar PV systems built within the previous two years.

The government also extended the Investment Tax Credit (ITC), increasing it to 30% for installations completed within the following ten years. Like the United States, China boosted its budget for renewable energy incentives to USD 840 million for 2021, of which around 55% was designated for the solar power sector.

On the other hand, the government of India has projected significant increases in solar power generation capacity, aiming to increase current output from 49.6 GW in 2021 to roughly 300 GW by 2030. Practically all national governments are undertaking similar measures, which is anticipated to increase demand for solar PV modules and, in turn, solar PV glass.

The time it takes for solar to make up for its electricity will continue to decrease as manufacturers hunt for ways to make solar panels more efficient as the solar business expands. Moreover, it is anticipated that encouraging government initiatives to ensure a sustainable future through the use of renewable energy would hasten market CAGR.

Over the past few years, the cost of solar panels and photovoltaic items, including modules, glass, and mirrors, has steadily declined. These systems unquestionably cost more to install than more traditional options. However, these systems require relatively little upkeep after installation and have modest ongoing expenditures. In the PV market, there are several competitors.

These market participants frequently release effective products at reasonable pricing. As a result, the cost of solar products has decreased. Other elements contributing to the decline in photovoltaic/solar system costs include falling raw material prices, government subsidies, and widespread manufacture of these technologies. Thus, driving the solar PV glass market revenue.

The escalating costs of traditional energy sources are driving interest in alternative energy solutions, particularly solar energy. The Global Solar PV Glass Market Industry is benefiting from this trend as consumers and businesses seek to mitigate their energy expenses. With fossil fuel prices fluctuating and often rising, solar energy presents a viable long-term solution. The decreasing costs of solar technologies, including solar glass, further enhance the appeal of solar installations. As energy prices continue to rise, the market is likely to see increased adoption, contributing to its anticipated growth trajectory.

The Global Solar PV Glass Market Industry is characterized by dynamic trends and projections that indicate robust growth. The market is expected to reach a value of 26.9 USD Billion in 2024, with a remarkable CAGR of 29.19% anticipated from 2025 to 2035. By 2035, the market could potentially achieve a staggering value of 450.5 USD Billion. These projections reflect the increasing adoption of solar technologies and the ongoing innovations in solar glass products. The market's trajectory suggests a promising future, driven by technological advancements and supportive government policies.

There is a notable increase in environmental awareness among consumers and businesses, which is positively influencing the Global Solar PV Glass Market Industry. As individuals become more conscious of their carbon footprints, there is a growing preference for sustainable energy solutions. This shift in consumer behavior is prompting investments in solar technologies, including solar PV glass. Companies are also adopting greener practices to meet consumer expectations and regulatory requirements. This heightened awareness is expected to drive demand for solar installations, thereby boosting the market's growth in the coming years.

Government incentives and subsidies are crucial drivers of the Global Solar PV Glass Market Industry. Many countries are offering financial support to encourage the adoption of solar technologies, which can significantly reduce the upfront costs for consumers and businesses. For instance, tax credits, rebates, and feed-in tariffs are common strategies employed by governments to stimulate market growth. This financial backing is likely to enhance the attractiveness of solar PV systems, leading to increased installations and, consequently, a higher demand for solar glass. As the market evolves, these incentives are expected to play a vital role in achieving the projected market value of 450.5 USD Billion by 2035.

The Global Solar PV Glass Market Industry is experiencing a surge in demand driven by the global shift towards renewable energy sources. Governments worldwide are implementing policies to reduce carbon emissions, which is likely to bolster the adoption of solar technologies. For instance, the International Energy Agency indicates that solar energy capacity is expected to grow significantly, with projections suggesting that solar PV installations could reach unprecedented levels. This increasing focus on sustainability is expected to contribute to the market's growth, with the market value anticipated to reach 26.9 USD Billion in 2024.

Technological innovations are playing a pivotal role in shaping the Global Solar PV Glass Market Industry. Advancements in materials science have led to the development of more efficient and durable solar glass products, enhancing energy conversion rates. For example, the introduction of bifacial solar panels, which utilize glass on both sides, has shown to improve energy output. These innovations not only increase the efficiency of solar installations but also contribute to cost reductions over time. As a result, the market is expected to witness substantial growth, with a projected CAGR of 29.19% from 2025 to 2035.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American solar PV glass market area will dominate this market due to a period of transition during which it is seeing rapid development in a variety of areas, including infrastructure and industries. This is expected to increase demand for solar PV glass in the near future.

A major factor fueling the demand for infrastructure development in this area is the fast-growing population. The market for solar PV glass is then anticipated to grow as a result. North America will experience development in the solar photovoltaic glass market as a result of rising solar energy plant installations and a preference for renewable energy.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Solar PV Glass Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe solar PV glass market accounts for the second-largest market share. Numerous solar energy systems are in the area and employed for power production, district heating & cooling, water heating, and space heating. The well-developed infrastructure and the dedicated efforts of the local government to support and use renewable energy technology are anticipated to positively impact the European market.

The continuous government attempts to encourage rooftop installation and strong regulations against carbon emissions will likely cause an exponential increase in revenue for the UK business over the next few years. Further, the German solar PV glass market held the largest market share, and the UK solar PV glass market was the fastest growing market in the European region

The Asia-Pacific Solar PV glass Market is expected to grow at the fastest CAGR from 2023 to 2032. Urbanization and population are expanding quickly in developing nations like China, Pakistan, India, South Korea, Indonesia, Malaysia, and Japan. Many of these developing nations' basic infrastructure systems and electrical grids are unreliable.

Due to this reason, industry participants are anticipated to spend in these nations, which will accelerate the development of PV glass installations and distribution grids. Moreover, China’s solar PV glass market held the largest market share, and the Indian solar PV glass market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the solar PV glass market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, solar PV glass industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global solar PV glass industry to benefit clients and increase the market sector. In recent years, the solar PV glass industry has offered some of the most significant advantages to market.

Major players in the solar PV glass market attempting to increase market demand by investing in research and development operations include First Solar Inc., Xinyi Solar Holding Ltd., Nippon Sheet Glass Co. Ltd., Yingli Green Energy Holding Company Ltd., Sun Power Corporation, ReneSola Ltd., Hanwha Q CELLS Co., Saint-Gobain S.A and Guardian Industries.

Compagnie de Saint-Gobain manufactures building materials and construction-related products. Its product line includes a range of plastics, pipelines and associated goods, building supplies, gypsum, industrial mortar, roofing and exterior wall products. Additionally, the business sells performance polymers, glass textiles, and mineral ceramics. The company markets these products under a number of names, including ADFORS, Saint-Gobain Gla, British Gypsum, and Isover. The automotive, health, defense, energy, security, aerospace, and food and beverage industries all use Saint-Gobain products.

A supplier of solar technology and energy services is SunPower Corp. The business produces, develops, and distributes various products, including batteries, micro inverters, and AC panels. Additionally, SunPower designs, acquires, finances, builds, and maintains solar power facilities that use solar panels to produce electricity.

Among other things, SunPower also provides rooftop, carport, and grid equipment controllers. The business uses a variety of channels to market and sell its solar power solutions, including direct sales, long-term leases, EPC services, a network of independent global dealers, and O&M services.