From 2022 to 2032, the building-integrated photovoltaics market is expected to grow at a 21% value CAGR. The predicted global market size for this market in 2021 was $16.5 billion, and it is expected to increase rapidly to a total of $134.31 billion by 2032.
Building-integrated The photovoltaics business is expected to grow rapidly due to the rapid increase of PV (photovoltaic) capacity across various countries and the surge in demand for renewable energy.
Countries like Italy, Germany, France, the United States, China, Japan, and India have unilaterally joined the Kyoto Protocol, a plan to cut greenhouse gas emissions. Positive governmental policy, heightened public awareness of energy security, and self-sufficiency are all significant elements.
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Key Takeaways from the Market Study
- In 2021, the market was estimated to have a global valuation of US$ 16.5 Billion.
- In 2022, the market is estimated to have a global market size of US$ 19.97 Billion
- The building-integrated photovoltaics market in Europe occupied a market share of 37.68% in 2021.
- The crystalline silicon segment took over 72% of the global building-integrated photovoltaics market share.
- Nearly 62% of building-integrated photovoltaics sales to be for roof applications
- As of 2021, the industrial segment accounted for 40.5% of the global market.
“With strict regulations towards the green building movement and the increasing demand from eco-conscious consumers, the demand for Building-integrated Photovoltaics is increasing globally at a rapid pace. This is also being supported by various government regulations to promote the use for enhanced sustainability and better energy efficiency. New technological development in this field is sure to open up new avenues for the manufacturers in the future,”
Competitive Landscape
As a way to gain more market penetration and meet the changing needs of architects and construction contractors, Building-integrated Photovoltaics manufacturers have developed multiple joint ventures, partnerships, agreements, and collaborations.
- In October 2021, Meyer Burger, a Swiss manufacturer of PV modules, began offering BIPV systems. Meyer Burger will offer rooftop solar power systems.
- In 2021, Onyx Solar, a Spanish producer of BIPV solar systems, installed approximately 3,250 crystalline solar modules on the facade of Sterling Bank’s Nigerian headquarters.
- In September 2021, China Southeast Space Frame Group (SSFG) and First PV formed a joint venture to install 950 MW of solar PV in China over the next five years.
Key Players
- SolarWindow Technologies, Inc.
- Hanergy Mobile
- AGC Inc.
- Energy Holding Group Limited
- The Solaria Corporation
- Carmanah Technologies Corp.
- Heliatek GmbH,
- Greatcell
- BELECTRIC
- Tesla
- ertex solartechnik GmbH
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Key Segments Covered In The Building-Integrated Photovoltaics Market Report
Building-integrated Photovoltaics Market by Technology:
- Thin Film Building-integrated Photovoltaics
- Crystalline Silicon Building-integrated Photovoltaics
- Other Building-integrated Photovoltaics Technology
Building-integrated Photovoltaics Market by Application Type:
- Building-integrated Photovoltaics for Roofs
- Building-integrated Photovoltaics for Walls
- Building-integrated Photovoltaics for Façades
- Building-integrated Photovoltaics for Glass
- Building-integrated Photovoltaics for Other Applications
Building-integrated Photovoltaics Market by End-User:
- Industrial Building-integrated Photovoltaics
- Residential Building-integrated Photovoltaics
- Commercial Building-integrated Photovoltaics
Building-integrated Photovoltaics Market by Region:
- North American Building-integrated Photovoltaics Market
- Europe Building-integrated Photovoltaics Market
- Asia Pacific Building-integrated Photovoltaics Market
- Middle East & African Building-integrated Photovoltaics Market
- Latin America Building-integrated Photovoltaics Market
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