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Pulished Date February, 2020
ID: 8569
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Solar Photovoltaic Glass Market by Application (Utility, Residential, and Non-Residential), Type (AR Coated, Tempered, TCO, and Others), End User (Crystalline Silicon PV Modules and Thin Film PV Modules), Region - Global Forecast to 2025

Pulished: February, 2020
ID: 8569
Pages: 170

The global Solar Photovoltaic Glass Market is anticipated to develop at a CAGR of 25.70% during the forecast period, reaching a size of US $ 28.721 billion in 2025 from US $ 8.255 billion in 2020.

Solar photovoltaic glass is a technology that converts light into electricity by incorporating transparent solar cells. In photovoltaic solar glass, solar cells are inserted between two sheets of glass panels and are used for photovoltaic applications in different ways. Photovoltaic solar glass is made of crystalline or thin-film silicon. Photovoltaic solar glass is designed to replace building materials traditionally used in rooms such as windows, roofs and facades. This helps in the creation of renewable energy through creative architectural design.

This growth of the photovoltaic glass market is further attributed to the granting of subsidies by the governments of various countries, as well as the rapid reduction in the prices of solar panels around the world. Supportive government initiatives, policies and programs to increase the adoption of solar energy further contribute to the growth of the solar photovoltaic glass market. Demand for photovoltaic solar panels is increasing across the residential sector due to the net metering policy. Under this policy, net metering gives credit to the owner of solar photovoltaic systems for the sale of excess output from the system. This allows customers to be billed for their “net” energy used, which means savings in electricity and even generate income by selling excess production.

In some places, net metering is voluntary or a regulatory decision dependent on the government. Rising electricity tariffs encourage people to install solar roofs that generate electricity profitably, to which lower prices for solar panels have also added financial incentives. The business sector will grow due to the increasing focus of companies on CSR to reduce the carbon footprint. In addition, many governments have made it mandatory for the commercial sector to produce a certain percentage of energy from renewable energy sources, which has positively impacted the growth of the market.

Recent Developments 

  • In February 2020, Trina Solar is launching new 500 Wp + bifacial double glass modules. Trina Solar, one of the world's leading providers of integrated photovoltaic modules and smart power solutions, officially introduced its latest Duomax V double-sided glass modules and Tallmax V backsheet.

  • In July 2020, solar glass could transform the windows of all buildings into power generation panels. Not only are organic solar cells non-toxic, lightweight and semi-transparent, they also offer the potential for low production costs. However, they tend to have low efficiency and their reliability over time has so far not been ideal.

  • In September 2019, Vikram Solar launches its first bifacial photovoltaic modules with the half-cell module in the United States Solar module manufacturer.

Drivers in the Solar Photovoltaic Glass Market  

Factors driving the growth of the solar photovoltaic glass market include the support of government regulations for the installation of solar photovoltaic power plants. In addition, the growing demand for solar systems at the residential, commercial and utility scale is fueling the growth of the solar photovoltaic glass market. However, the high cost associated with installing, storing and purchasing solar devices is expected to hamper the growth of the market. The global solar photovoltaic glass market has yet to explore its full potential. The increased demand for renewable energy is expected to provide growth opportunities in the market.

The feed-in tariff program (FIT) allows owners, communities and contractors to generate renewable energy and market it at a price guaranteed by a fixed contract under multiple terms and conditions. The price paid for the electricity produced varies depending on the renewable energy technology used and the size of the project. Feed-in tariff programs were launched in 2009 in countries like Canada and the United States to encourage the development of renewable energy technologies and attract investment to reduce the increased dependence on fossil fuels through the phase-out progressive methods of coal-fired power plants. . Therefore, the ongoing investments and commitments for the development and expansion of renewable energies are expected to significantly boost the demand for solar photovoltaic glass.

Restraints in the Solar Photovoltaic Glass Market

High installation costs, rising raw material prices, and the need to purchase power conversion devices are factors hampering the solar photovoltaic glass market. Another key limitation in the solar PV glass market is changing environmental conditions. High technological costs in emerging regions are also likely to be a hindrance to market growth.

Market Segmentation

By Application

  • Residential
  • Non-residential
  • Utility

Photovoltaic solar glass has become increasingly popular in both small and large scale power generation applications in the utility segment. The main factors contributing to the high demand for products in the utility industry are ease of use and installation and lower prices. It is used in a variety of applications in the utility segment, such as photovoltaic panels on building facades, use to power specific equipment, cogeneration of electrical systems, solar power on rooftops and small and large power plants. . These trends have benefited the demand for solar photovoltaic glass in utility applications. Rapid urbanization, increasing disposable income and growing awareness of clean energy use are expected to drive the installation of residential solar photovoltaic capacity, which will benefit the demand for glass in the application. 

Governments run awareness programs to encourage citizens to install rooftop solar systems. Grants are also awarded for these projects. These trends are expected to benefit the overall growth of the segment from 2020 to 2025. Solar PV installations are now designed to ensure that they can withstand a harsh environment, thus offsetting upgrade and maintenance costs. There has been an increase in the adoption of facilities by government institutes, non-profit organizations, and commercial entities to achieve sustainability goals. These factors should benefit market demand in the non-residential sector.

By Product

  • Anti-reflective coated glass
  • Tempered glass
  • TCO glass
  • Others

The demand for annealed photovoltaic solar glass was over 350 million square meters in 2020 and is expected to increase significantly from 2020 to 2025. This can be attributed to cost competitiveness, ease of manufacture and product availability. The toughened / tempered solar photovoltaic glass market is expected to grow at a CAGR of 8% during the forecast period due to its high strength and effective safety features than other counterparts. In addition, these products offer high mechanical strength and better resistance to thermal stresses.

By Region

Regionally, the global solar PV glass market is categorized into North America, South America, Europe, Middle East & Africa, and Asia-Pacific. APAC accounted for the largest market share in 2020 due to China's presence as the world's largest producer of solar panels. In 2020, China's National Energy Administration released an action plan to improve the competitiveness of software and equipment that supports PV smart manufacturing and to promote exports. China aims to improve its level of smart manufacturing of photovoltaic base materials, solar cells and their components, which will further increase the market for solar photovoltaic glass. In addition, government initiatives and policies in countries like India and Vietnam to boost the adoption of solar power are further contributing to the growth of the market.

For example, as part of the National Solar Mission, the Indian government aims to promote solar power for power generation with a long-term goal of adding 20,000 MW of grid-connected solar power by 2025. , by creating metrics such as RPO specific solar energy within the framework of the national tariff policy and plan for the implementation of solar parks in various cities of the country. The net metering system has been introduced in Sabah and Peninsular Malaysia with the goal of reaching 500 MW by 2020. According to the 2019 Australia Clean Energy Report, more than 2.4 GW of new renewable capacity emerged in Australia with 38 projects completed in 2020.

The boom in solar panel manufacturing in the United States following the imposition of a 35% tariff by the United States government on imported solar panels and cells in 2020 is driving the growth of the solar photovoltaic glass in this region. For example, in October 2020, thin-film solar panel maker First Solar began production at its new PV module manufacturing facility in Lake Township, Ohio. In addition, government initiatives to support and finance small businesses in the solar market are seen as a beneficial factor for the growth of the solar photovoltaic glass market during the forecast period. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STR) are the respective programs that provide funding opportunities for small businesses based in the United States to have future commercialization potential.

Leading Company

AGC Solar has a long history as a key player in the solar glass industry. The company operates with factories in Europe, North America and Asia and produces glass solutions for three main solar applications: photovoltaic modules, thermal collectors and concentrating solar mirrors, targets the highest production standards for performance higher and works through a global network in the service of its customers.

 Key Players

Key players operating in the solar photovoltaic glass market include AGC Solar, Henan Huamei Cinda Industrial Co., Ltd., Borosil Glass Works Ltd., Hecker Glastechnik GmbH & Co. KG, Saint-Gobain Solar, Guangdong Golden Glass Technologies, Euroglas, Nippon Sheet Glass Co., Ltd., Sisecam Flat Glass, Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., and Emmvee Toughened Glass Private Limited.

COVID – 19 Impact

COVID-19 can influence the worldwide economy in 3 major ways: directly influencing production and call, creating supply chain and market disruption, and through its financial impact on businesses and financial markets.

The COVID-19 outburst has had influences in multiple ways, such as flight cancellations; travel bans and quarantines; restaurants closed; all restricted interior events; more than forty countries have declared emergency growing public panic and uncertainty about the future

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 coated solar photovoltaic glass       

                                5.1.3 tempered solar photovoltaic glass

                                5.1.4 others       

                                5.1.5 Y-o-Y Growth Analysis, By Type     

                                5.1.6 Market Attractiveness Analysis, By Type   

                                5.1.7 Market Share Analysis, By Type     

                5.2 Application                 

                                5.2.1 Introduction           

                                5.2.2 residential               

                                5.2.3 public        

                                5.2.4 non-residential     

                                5.2.5 Y-o-Y Growth Analysis, By Application         

                                5.2.6 Market Attractiveness Analysis, By Application       

                                5.2.7 Market Share Analysis, By Application        

                5.3 End User                      

                                5.3.1 Introduction           

                                5.3.2 crystalline silicon photovoltaic modules      

                                5.3.3 thin-film photovoltaic modules      

                                5.3.4 Y-o-Y Growth Analysis, By End User             

                                5.3.5 Market Attractiveness Analysis, By End User           

                                5.3.6 Market Share Analysis, By End User             

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Type

                                                6.1.3.3 By Application

                                                6.1.3.4 By End User

                                                6.1.3.5 By Indication

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Type

                                                6.1.4.3 By Application

                                                6.1.4.4 By End User

                                                6.1.4.5 By Indication

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Type

                                                6.1.5.3 By Application

                                                6.1.5.4 By End User

                                                6.1.5.5 By Indication

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 Interfloat Corporation   

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 AGC Solar                    

                8.3 Nippon Sheet Glass Co                          

                8.4 Taiwan Glass Ind. Corp                          

                8.5 Xinyi Solar Holdings Ltd                          

                8.6 Guardian Glass                          

                8.7  Saint-Gobain Solar                  

                8.8 Borosil Glass Works Ltd                         

                8.9 Henan Huamei Cinda Industrial Co                   

                8.10 Guangfeng Solar Glass                        

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by application,by type,by end user,along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Solar Photovoltaic Glass  Market By Region, From 2020-2025 ( USD Million )

  2. Global Solar Photovoltaic Glass  Market By Type, From 2020-2025 ( USD Million )

  3. Global coated solar photovoltaic glass Market By Region, From 2020-2025 ( USD Million )

  4. Global tempered solar photovoltaic glass Market By Region, From 2020-2025 ( USD Million )

  5. Global others Market By Region, From 2020-2025 ( USD Million )

  6. Global Solar Photovoltaic Glass  Market By Application, From 2020-2025 ( USD Million )

  7. Global residential Market By Region, From 2020-2025 ( USD Million )

  8. Global public  Market By Region, From 2020-2025 ( USD Million )

  9. Global non-residential  Market By Region, From 2020-2025 ( USD Million )

  10. Global Solar Photovoltaic Glass  Market By end-users, From 2020-2025 ( USD Million )

  11. Global crystalline silicon photovoltaic modules  Market By Region, From 2020-2025 ( USD Million )

  12. Global thin-film photovoltaic modules Market By Region, From 2020-2025 ( USD Million )

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