Global BIPV Market is valued approximately at USD 14.4 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 20% over the forecast period 2021-2027. BIPV refers for building-integrated photovoltaics, which are photovoltaic materials that are utilized to replace some traditional construction components. It’s utilized in roofs, skylights, and facades, among other elements. Solar panels are a type of building-integrated photovoltaics that are used in the construction industry. Thin-film solar panels, flexible thin-film solar panels, thin-film or crystalline based solar panels, and semi-transparent solar panels are among the several kinds offered. BIPV is one of the fastest growing segments of the worldwide solar PV industry currently. The market is driven by the key factors such as rise in government initiatives for solar energy panel and rising awareness regarding green infrastructure. For instance, European researchers from the Grenoble Interdisciplinary Research Institute invented solar PV panels with changing colours that can self-adjust to the strength of light and the temperature level of buildings with glass exteriors and huge windows in June 2020. The mini-modules have a 3.68 percent efficiency rating and a 14 square centimeter area, lowering PV panel production costs significantly. However, need for high initial investment, may impede market growth over the forecast period of 2021-2027.
Geographically, Europe is dominating global BIPV market due to increased customer willingness to adopt practices as a result of increasingly stringent environmental regulations, linked with rising pressure to minimize net energy consumption from buildings in order to reduce CO2 emissions. However, North America held a significant market share, with the United States and Canada accounting for the majority of revenue growth in the region. The presence of standards and favorable laws that encourage the expansion of BIPV installations across commercial and industrial enterprises is anticipated to fuel the growth.
Major market player included in this report are:
Changzhou Almaden Co. Ltd
Onyx Solar Group LLC
Nanoflex Power Corporation
Sunovation Produktion GmbH
ertex solartechnik GmbH
Konarka Technologies Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End use:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global BIPV Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers