Solar PV Glass Market Size To Reach $47.16 Billion By 2030

Solar PV Glass Market Growth & Trends

The global solar PV glass market size is anticipated to reach USD 47.16 billion by 2030 and is anticipated to expand at a CAGR of 29.5% during the forecast period, according to a new report by Grand View Research, Inc. Growing social and political agreement aimed at adopting clean energy sources is expected to drive the market in the coming years. Rapid modernization across the value chain, the sector is benefiting from technological innovation, expanded manufacturing capacities, and the introduction of new product launches that enhance efficiency and performance, which are also significantly contributing to the market growth. Solar energy stands out as one of the most plentiful and sustainable renewable resources, and its adoption is being accelerated by robust government policies and supportive regulations aimed at promoting clean energy generation. As solar technology advances, the time required for solar panels to offset their energy investment continues to shrink, reflecting improvements in efficiency and manufacturing processes.

The environmental advantages of solar power are substantial, as it produces no emissions during operation and its relative environmental cost is steadily declining compared to the clean energy it generates. The market is also witnessing a consistent drop in the prices of solar panels and related components, including PV glass, due to heightened competition, frequent product innovations, and large-scale production. While the upfront installation costs remain higher than those of conventional energy systems, solar PV systems offer low maintenance requirements and minimal ongoing expenses, making them increasingly attractive.

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Solar PV Glass Market Report Highlights

• The AR-coated segment accounted for the largest revenue share of 46.5% in 2024, driven by its ability to enhance light transmission and minimize reflection losses, resulting in higher energy conversion efficiency.

• The tempered glass type is expected to grow at the fastest CAGR of 30.0% over the forecast period. Its superior strength, durability, and safety features make it highly resistant to environmental stress, impact, and harsh weather.

• The crystalline solar PV module segment had the largest revenue share, 88.8%, in 2024, which was attributed to its proven reliability, high efficiency, and scalability for large-scale energy needs.

• The perovskite module segment is anticipated to witness the fastest CAGR of 31.4% over the forecast period, primarily due to its exceptional energy conversion efficiency, lower production costs, and flexible manufacturing processes.

• The utility segment held the largest revenue share in 2024. The residential segment is expected to register the fastest CAGR of 31.2% over the forecast period.

• Asia Pacific dominated the global solar PV glass market with the largest revenue share in 2024. This growth is attributed to rising demand for solar installations, government policies supporting renewable energy, and significant investments in infrastructure and industrialization.

• The North America solar PV glass market is expected to grow at a significant CAGR of 30.6% over the forecast period, owing to the robust governmental support for clean energy, ambitious decarbonization targets, and increasing adoption of solar power in residential and commercial sectors.

• In April 2024, Bluebird Solar unveiled its n-type TOPCon dual-glass bifacial PV module at RenewX 2024 in Hyderabad, featuring a 600 Wp power output and 23.25% efficiency.

Solar PV Glass Market Segmentation

Grand View Research has segmented the global solar PV glass market on the basis of on type, technology, application, and region:

Solar PV Glass Type Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• AR Coated

• Tempered

• TCO-Coated

Solar PV Glass Technology Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• Crystalline Solar PV Module

• Thin Film Module

• Perovskite Module

Solar PV Glass Application Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• Residential

• Non-Residential

• Utility

Solar PV Glass Regional Outlook (Volume, Million Square Meter; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Solar PV Glass Market

• First Solar

• Xinyi Solar Holdings Limited

• Nippon Sheet Glass Co., Ltd

• Yingli Solar

• SunPower Corporation

• RENESOLA

• Hanwha Group

• Saint-Gobain S.A

• Guardian Industries

• Borosil Glass Works Limited