Asia Pacific Solar PV Glass Market: By Glass Type (3.2 mm, 2 mm), By End-User (Residential, Commercial), and Country  

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Asia Pacific Solar PV Glass Market is experiencing significant growth, with installed and glass consumed volume reaching 3,316.6 million sq. mts in 2023 and projected to grow at a CAGR of 6.1%. Solar PV glass, which converts solar energy into electricity using solar cells, is gaining traction in Asia Pacific countries due to increased demand for solar PV installations, decreasing PV module prices, and rising rooftop solar installations, particularly in the residential sector. Technological advancements are revolutionizing the market, enhancing efficiency and affordability through innovations in panel designs, energy storage, and smart grid technologies. The integration of AI and machine learning is optimizing energy production and reducing costs.

In November 2023, perovskite tandem solar cells set a new world record for efficiency, surpassing the previous record set just months earlier. China's 2022 renewable energy accommodation policy maintains the Renewable Portfolio Standards (RPS), emphasizing non-hydro renewable energy in power transmission among provinces. This policy aims to improve energy security, lower carbon emissions, and encourage sustainable energy development. Despite challenges like supply chain limitations and permitting obstacles, the Asia Pacific solar PV glass market is expected to transform, with M&A activity predicted to increase significantly in 2024. Researchers have made progress with multi-junction PV cells, achieving efficiencies over 45%. Bifacial solar panels, capturing light on both sides, show 30-40% higher efficiency when combined with sun-tracking technology. Agrivoltaics, integrating solar panels with farmland, addresses land-use conflicts and can increase farm yields.

However, limitations on PV efficiency, geographic constraints, and lack of awareness hinder adoption. In India, dependency on Chinese imports led the government to launch programs like the Production Linked Incentive (PLI) plan to boost domestic production capacity and competitiveness. The local solar sector was further supported by government initiatives such as the basic customs duty on imported solar modules, aiming to reduce reliance on imports and strengthen the domestic industry.

Asia Pacific Solar PV Glass Market Key Developments:
  • In July 2024, Waaree Energies has secured a contract to supply 900 MW of n-type TOPCon dual-glass bifacial modules for Serentica Renewables’ solar PV project in the Jaisalmer district of Rajasthan.
  • In July 2024, Australian scientists and Google's electricity R&D team developed a 'smart' inverter, claimed to be nearly twice as fast and 50% more efficient than existing commercial models. It communicates with grid devices, accurately detects voltages and currents, and acts to maintain grid stability

Asia Pacific Solar PV Glass Market Dynamics

Over the past decade, global solar PV manufacturing capacity has witnessed a significant shift from Europe, Japan, and the United States to China. China's massive investment of over USD 50 billion in new PV supply capacity, along with the creation of more than 300,000 manufacturing jobs since 2011, has propelled it to become the epicenter of solar PV production. Today, China's share in all manufacturing stages of solar panels exceeds 80%, contributing significantly to the reduction in solar PV costs worldwide. China's dominance in solar PV manufacturing is reflected in its export figures, with the value of its solar PV exports surpassing USD 30 billion in 2021 alone. Additionally, Chinese investments in countries like Malaysia and Vietnam have turned them into major exporters of PV products as well. The global PV-related trade has seen a remarkable increase, exceeding USD 40 billion in value in 2021, signaling the growing significance of solar PV products in international trade. Moreover, the growth of Asia Pacific solar PV glass market is also attributed to the M&As in the region. For instance, Adani Green Energy Ltd (AGEL), the world's largest solar power developer, completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal, making SB Energy India a 100% subsidiary of AGEL. The transaction, valued at USD 3.5 billion, marks the largest acquisition in India's renewable energy sector. Additionally, Adani Group Chairman Gautam Adani announced plans to invest over 20 billion dollars in renewable energy generation over the next decade.

Asia Pacific Solar PV Glass Market Segmentation

By Glass Type
  • 2 mm
  • 2 mm
By End User
  • Residential
  • Commercial
Country
  • China
  • India
  • Japan
  • ASEAN
  • Australia & New Zealand
  • Rest of Asia-Pacific

Frequently Asked Questions

The Asia Pacific solar PV glass market was valued at USD 9,218.3 million in 2023 and is expected to grow at a 4.7% CAGR from 2024 to 2030.

AGC Inc., Nippon Sheet Glass Co., Ltd., Xinyi Solar Holdings Ltd., Saint-Gobain S.A., Borosil Renewables Limited, Euroglas GmbH, and Trina Solar Limited are some of the major players operating in Asia Pacific solar PV glass market.

Limitations on PV efficiency, geographic constraints, and lack of awareness are expected to limit the growth of the Asia Pacific solar PV glass market.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030).
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory frameworks, and reimbursement scenarios.
1.Executive Summary
2. Asia Pacific Solar PV Glass Market Introduction 
2.1. Asia Pacific Solar PV Glass Market  - Taxonomy
2.2. Asia Pacific Solar PV Glass Market  - Definitions
2.2.1.Glass Type
2.2.2. End User
3. Asia Pacific Solar PV Glass Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Asia Pacific Solar PV Glass Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Asia Pacific Solar PV Glass Market  By Glass Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. 2 mm
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. 2 mm
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6. Asia Pacific Solar PV Glass Market  By  End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Residential
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Commercial
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
7. Competition Landscape
7.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
7.2.1.AGC Inc.
7.2.2.Nippon Sheet Glass Co., Ltd.
7.2.3.Xinyi Solar Holdings Ltd.
7.2.4.Saint-Gobain S.A.
7.2.5.Borosil Renewables Limited
7.2.6.Euroglas GmbH
7.2.7.Trina Solar Limited
7.2.8.Canadian Solar Inc.
7.2.9.JA Solar Holdings Co., Ltd.
7.2.10.JinkoSolar Holding Co., Ltd.
7.2.11.SunPower Corporation
7.2.7.Sisecam Flat Glass
7.2.8.PPG Industries, Inc.
7.2.9.Corning, Inc.
7.2.15.Guardian Industries
8. Research Methodology 
9. Appendix and Abbreviations 
  • AGC Inc.
  • Nippon Sheet Glass Co., Ltd.
  • Xinyi Solar Holdings Ltd.
  • Saint-Gobain S.A.
  • Borosil Renewables Limited
  • Euroglas GmbH
  • Trina Solar Limited
  • Canadian Solar Inc.
  • JA Solar Holdings Co., Ltd.
  • JinkoSolar Holding Co., Ltd.
  • SunPower Corporation
  • Sisecam Flat Glass
  • PPG Industries, Inc.
  • Corning, Inc.
  • Guardian Industries

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