Saudi Arabia Solar Photovoltaic (PV) Glass Market Size Zooming More Than 6X to Reach USD 4.8 Billion by 2029

Published | 22 February 2023

Saudi Arabia solar photovoltaic (PV) glass market is gaining traction because of the growing demand for renewable energy and decreasing costs of solar systems and energy storage devices.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia solar photovoltaic (PV) glass market size at USD 725.4 million in 2022. During the forecast period between 2023 and 2029, the Saudi Arabia solar PV glass market size is projected to grow at an impressive CAGR of 9.2% reaching a value of USD 4,770.96 million by 2029. Increasing private and public investment in infrastructure development, as well as increased government support for renewable energy sources and lowering carbon footprint, are key growth factors for the Saudi Arabia solar PV glass market. The need for solar PV glass has increased along with the building of more homes and businesses, economic expansion, and diversification, providing the market with attractive growth opportunities.

Saudi Arabia Solar Photovoltaic Glass Market – Overview

Photovoltaic glass (PV glass) is a technology advancement that makes it possible to convert light into power. Transparent semiconductor-based photovoltaic cells, sometimes referred to as solar cells, are incorporated into the glass to convert sunlight into solar energy. PV Glass transforms buildings into vertical power producers by generating free and renewable electricity due to the sun. Additionally, it offers thermal and acoustic insulation, guaranteeing excellent filtration as up to 95% of infrared radiation and 99% of dangerous UV radiation may be absorbed. The three main PV cell technologies—monocrystalline silicon, polycrystalline silicon, and thin film—control the global market.

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Saudi Arabia Solar Photovoltaic Glass Market – By Installation

Based on installation, Saudi Arabia solar PV glass market is segmented into float glass technology and patterned glass technology. The pattern installation technology segment accounts for a higher share in the Saudi Arabia solar PV glass market. The market share of pattern installation techniques is larger. This type of installation technique provides controlled light directly into the cells, boosting the efficiency of these solar energy systems. They also provide enhanced optical and aesthetic performance. Due to their small size, they also provide a logistical benefit that reduces their total cost.

Impact of COVID-19 on Saudi Arabia Solar Photovoltaic Glass Market

The market for solar photovoltaic glass in Saudi Arabia experienced a substantial slowdown as a result of the unprecedented COVID-19 pandemic. Lockdowns and import-export restrictions imposed by a number of countries hindered the production of solar photovoltaic glass as well as the demand and supply for it. Due to a labor shortage, the infrastructure-related operations associated with the renewable energy sector were also briefly put on hold. During the initial outbreak, all these variables led to significant losses for the Saudi Arabian solar photovoltaic glass sector. Yet, the business experienced great development as energy consumption increased and sustainability consciousness spread in the years after COVID-19.

Competitive Landscape

Major players operating in Saudi Arabia's solar photovoltaic glass market include Saudi Basic Industries Corporation (SABIC), Emirates Insolaire, Guardian Glass, Onyx Glass, Saint-Gobain, Jinko Solar, Trina Solar, Xinyi Solar, Euroglass, and Interpane. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Saudi Arabia Solar Photovoltaic Glass Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Saudi Arabia Solar Photovoltaic (PV) Glass market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Solar Photovoltaic (PV) Glass Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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