Overview and Scope
The building-integrated photovoltaics refer to solar energy generating products that are perfectly integrated into the building envelope and are a part of building components such as facades, roofs, and windows. Building-integrated photovoltaics (BIPV) serve two main purposes; they act as the building structure’s exterior layer while also generating power for on-site usage or export to the grid. This system can save money on materials and electricity, reduce pollution, and increase the architectural appeal of a building. BIPV systems are often introduced between the development phase of a building or deployed during a rebuild of an existing building when one of the wrap components is important to get replaced.
Sizing and Forecast
The building-integrated photovoltaics market size has grown exponentially in recent years. It will grow from <b>$16.65 billion in 2023 to $20.81 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. </b> The growth in the historic period can be attributed to increased environmental awareness and demand for sustainable building solutions, stricter building energy codes and green building certifications, urbanization and the need for space-efficient renewable energy generation, energy price volatility, and growing investment in research and development of bipv products.
The building-integrated photovoltaics market size is expected to see exponential growth in the next few years. It will grow to <b>$48.44 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%. </b> The growth in the forecast period can be attributed to rising electricity prices and grid resilience considerations, expansion of bipv applications beyond rooftops, growing demand for aesthetically pleasing and customizable bipv solutions, support from architectural and construction industries, and increasing environmental concerns. Major trends in the forecast period include integration of bipv into smart building and iot systems, advances in solar technology, partnerships between solar manufacturers, architects, and construction firms, net-zero energy and carbon-neutral building trends, and technological innovations in bipv materials and designs..
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Segmentation & Regional Insights
The building-integrated photovoltaics market covered in this report is segmented –
1) By Product Type: Polyscrystaline, Thin-Film, Other Product Types
2) By Application: Roof, Facade, Glass, Other Applications
3) By End-User: Residential, Commercial, Industrial
<b>Asia-Pacific</b> was the largest region in the building-integrated photovoltaics market in 2023. The regions covered in the building-integrated photovoltaics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for zero-energy buildings is expected to fuel the growth of the building-integrated photovoltaics market going forward. Zero-energy buildings combine energy efficiency and renewable energy generation to consume only the amount of energy that can be produced onsite using renewable resources over a certain period of time. The global concern regarding the carbon emissions from buildings and buildings construction is the rising demand for zero-energy buildings. Building-integrated photovoltaics materials provide a reasonable option for building skins and help in achieving zero energy levels in buildings. For instance, in November 2022, according to United Nations Environment Programme, investments in building energy efficiency rose by 16% to reach USD 237 billion, but the expansion of floor space outstripped the progress in energy efficiency measures globally. The sector’s 2021 operational energy-related CO2emissions were up 5 per cent over 2020 and 2 per cent over the pre-pandemic peak in 2019. Therefore, the growing demand for zero-energy buildings will contribute to the growth of the building-integrated photovoltaics market.
Key Industry Players
Major companies operating in the building-integrated photovoltaics market include <b> First Solar Inc., Sharp Corporation, Yingli Solar, Solar Frontier, SunPower Corporation, Hanwha Solar, Renewable Energy Corporation, Panasonic Corporation, Kyocera Document Solutions Company, Canadian Solar Inc., Suntech Power Holdings Co. Ltd., Harsha Abakus Solar Private Limited, Ascent Solar Technologies Inc., Greatcell Energy Limited, Global Solar Energy Inc., Hanergy Holding Group Ltd., Onyx Solar Energy S.L., ISSOL SA, Solarcentury Holdings Limited, Trina Solar Limited, Hanwha Q CELLS Co. Ltd., GAF Energy LLC, RGS Energy, NanoFlex Power Corporation, Tesla Inc., Jinko Solar Holding Co. Ltd., LG Electronics Inc., SolarWorld Americas Inc., Sanyo Electric Co. Ltd., Mitsubishi Electric Corporation, SolarCity Corporation, REC Solar Holdings AS, Enphase Energy Inc., SolarEdge Technologies Inc., SMA Solar Technology AG, ABB Ltd., Schneider Electric SE, Siemens AG, General Electric Company </b>
The building-integrated photovoltaics market report table of contents includes:
1. Executive Summary
2. Building-integrated Photovoltaics Market Characteristics
3. Building-integrated Photovoltaics Market Trends And Strategies
4. Building-integrated Photovoltaics Market – Macro Economic Scenario
5. Global Building-integrated Photovoltaics Market Size and Growth
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26. South America Building-integrated Photovoltaics Market
27. Brazil Building-integrated Photovoltaics Market
28. Middle East Building-integrated Photovoltaics Market
29. Africa Building-integrated Photovoltaics Market
30. Building-integrated Photovoltaics Market Competitive Landscape And Company Profiles
Top Major Players:
- First Solar Inc
- Sharp Corporation
- Yingli Solar
- Solar Frontier
- SunPower Corporation
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