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The solar cover glass market size is estimated to increase by USD 4.27 billion and grow at a CAGR of 10.24% between 2023 and 2028. The solar power market is witnessing a surge in growth driven by various factors. Government regulations favoring solar PV installations have spurred expansion, alongside a decline in the Levelized Cost of Energy (LCOE) and the cost of solar inverters, making solar power more accessible. However, challenges persist, notably the intermittent nature of solar energy, which poses reliability concerns. Additionally, competition from alternative energy sources remains fierce, requiring continuous innovation. High initial investments and maintenance costs for solar PV systems also deter widespread adoption. Addressing these challenges requires advancements in energy storage technology to mitigate intermittency and ongoing efforts to drive down costs. Despite hurdles, the solar power market holds immense potential as a sustainable energy solution, driving towards a cleaner and more resilient energy future.
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The utility segment is estimated to witness significant growth during the forecast period. Solar cover glass, such as tempered and plate glass, is extensively used across solar power utilities to increase the life and quality of solar panels. A large number of solar panels are installed at utility-scale solar power plants.
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The utility segment was the largest segment and was valued at USD 2.36 billion in 2018. Furthermore, the repair and maintenance requirements are frequent in large-scale settings. Thus, with the growing presence of utility-scale solar energy capabilities, the demand is increasing globally. The increasing demand for energy and the rising population are major growth drivers for the utility segment of the global market. The utility segment accounted for the highest market share in 2023 and is expected to hold a significant share during the forecast period.
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APAC is estimated to contribute 62% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is a dominating and fastest-growing region in the global market, with China, India, South Korea, and Japan as the leading revenue-generating countries. The market in APAC is expected to grow rapidly during the forecast period. APAC has witnessed rapid growth in the solar systems market over the past few years. According to the IEA, China has sustained its position as a global leader in solar power generation, surpassing the US in annual solar installed capacity. Grew Energy, a solar energy firm based in Gujarat, proposed to invest USD 590 million in March 2023 to develop up to 4 GW of backward-integrated solar module manufacturing capacity. However, Increasing environmental concerns, new government regulations, growing demand for energy, and declining cost of solar cells are increasing the demand for solar systems and, subsequently, the demand during the forecast period.
In response to rapid urbanization and a growing focus on sustainable construction practices, the building sector is increasingly turning to solar technology to enhance energy efficiency and achieve green building certifications. With solar photovoltaic glass, cities are embracing renewable energy sources to mitigate climate change impacts and bolster energy security. Government incentives such as subsidies and tax credits are driving adoption, though permitting processes remain a challenge. Innovations in crystalline silicon PV modules and thin film technology, along with the use of figured glass and advanced coatings and encapsulants, are transforming solar cells efficiency. From glass substrates to float glass and beyond, PV applications are reducing carbon footprints and greenhouse gas emissions, addressing pressing environmental concerns in building design and construction. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Government regulations supporting solar power generation are notably driving the market growth. Various policy renewals and reformations have been proposed by governments with regard to emission rates in power plants over the past few years. Most of the countries have formulated policies to support the growth of renewable power generation due to the growing focus on climatic change. In addition, governments have also introduced separate guidelines for solar panel installations on rooftops, buildings, and free-standing facilities. Countries such as China have also set goals to reduce non-renewable energy production. China had initially set a target of 20 GW capacity of solar PV annually till 2020.
Moreover, such a trend is expected to continue in the near future as the Chinese government has formulated various plans, such as tax reductions and grants, for the promotion of residential and commercial solar projects. Such initiatives from the government are helping reduce the dependency of the country on fossil fuels and gain economic stability. Thus, the government regulations supporting solar power generation will drive the growth of the global market during the forecast period.
Increasing adoption of solar curtain walls is an emerging trend shaping the market growth. Modern architects are adopting curtain walls embedded with solar cells for tall buildings. Glass panels are covered with organic solar cells and kept away from direct sunlight and excessive heat to power the batteries. This technology, also known as building-integrated photovoltaics (BIPV), is being increasingly used in rooftop curtain walls. Companies such as Onyx Solar Energy have introduced photovoltaic curtain walls that help retain the design appeal, efficiency, aesthetics, and functionality of buildings. BIPV incorporates solar power panels to generate the power required to run the building.
Similarly, the company installed amorphous silicon photovoltaic glass in the Bell Labs facility in the US. These projects will increase the product base of solar PV systems. Such new innovations will increase the demand for solar PV systems and drive the growth of the global market during the forecast period.
Competition from alternative sources of energy is a significant challenge hindering the market growth. Various sources of energy, such as wind, hydropower, and fossil fuels, are available to meet the growing energy needs. Solar energy faces stiff competition from these alternative energy sources. For instance, the global wind energy market has witnessed rapid growth in the last five years. Also, there was a large slump in crude oil prices from 2014 to 2019, which increased the investments in the oil and gas sector. Multiple gas power projects were planned during this period, owing to profitability rates and lower investment rates.
Further, the decline in crude oil prices is expected to increase the challenge for the growth of the solar photovoltaic market during the forecast period. Therefore, the lower cost of electricity generation in other alternative renewable sources, such as wind, as well as the prevailing low crude oil prices, will continue to pose major threats to the growth of the global solar photovoltaic systems market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AGC Inc. - The company offers solar cover glass such as ultra-low iron solar float glass and ultra-durable solar glass, under its subsidiary called AGC Glass Europe SA.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
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The market is experiencing rapid growth, driven by the global trend of rapid urbanization and the increasing adoption of sustainable construction practices in the building sector. With a focus on energy efficiency and green building certifications, demand for solar photovoltaic glass is on the rise. Government incentives such as subsidies and tax credits further bolster market expansion, while advancements in technology enhance affordability and attractiveness to consumers and businesses alike. From utility-scale projects to rooftop systems, solar cover glass plays a vital role in maximizing energy output while minimizing carbon footprints and greenhouse gas emissions. With supportive policies and innovations in architectural design, the market is poised for sustained growth, offering promising opportunities for renewable energy solutions in both new construction and rehabilitation projects.
Technology advancements in solar PV applications drive demand for high-quality materials like glass substrates, coatings, and encapsulants. While utility-scale projects harness solar energy efficiency, challenges persist with low-quality PV glass affecting longevity and efficiency. Innovation in AR-coated segments minimizes reflection losses, crucial in diverse weather conditions. Patterned glass enhances light scattering properties, mitigating potential induced degradation in crystalline silicon PV modules, ensuring sustainable energy solutions. Moreover, the market is a crucial component in the global transition towards renewable energy sources amid growing concerns over climate change and energy security. With cities increasingly turning to solar technology to power urban infrastructure, demand for innovative solutions is on the rise. From utility-scale projects to solar farms and off-grid electricity systems, solar PV glass plays a pivotal role in harnessing sunlight absorption and maximizing energy output. However, challenges such as permitting processes and safety risks associated with low-quality glass underscore the need for stringent quality control and technological advancements. With supportive government policies and advancements in green building construction technology, the solar PV glass market holds immense potential to revolutionize the utilities sector and contribute to a sustainable future.
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Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.24% |
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Market growth 2024-2028 |
USD 4.27 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.52 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 62% |
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Key countries |
US, Canada, China, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AGC Inc., Borosil Ltd., Central Glass Co. Ltd., Compagnie de Saint Gobain, Corning Inc., CSG Holding Co. Ltd., Flat Glass Group Co. Ltd., Glas Trosch Holding AG, Interflora Corp., IRICO Group New Energy Co. Ltd., Koch Industries Inc., Nippon Sheet Glass Co. Ltd., Onyx Solar Group LLC, SCHOTT AG, Shenzhen Topray Solar Co. Ltd., Taiwan Glass Ind. Corp., Targray Technology International Inc., TURKIYE SISE VE CAM FABRIKALARI A.S., and Xinyi Solar Holdings Ltd. |
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Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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