Building Integrated Photovoltaics (BIPV) Market is Expected to Reach $86.7 Billion by 2030
WILMINGTON, DELAWARE, UNITED STATES, February 21, 2024 /EINPresswire.com/ — Building-integrated photovoltaics (BIPVs) refer to solar power-generating components that are used in constructing facades, roofs, and skylights in buildings. Generally, these components include the integration of photovoltaic modules, a backup power supply system, a charge controller, a power storage system, and other supporting hardware. BIPV materials offer several benefits over their traditional counterparts as they provide onsite power generation, zero emissions, high energy conservation, superior architectural integration, and optimal shading. In addition, BIPVs also help reduce labor and installation costs by replacing high-end roof membranes, skylight glazing, and façade cladding. The global building integrated photovoltaics market was valued at $14.0 billion in 2020 and is projected to reach $86.7 billion by 2030, growing at a CAGR of 20.1% from 2021 to 2030.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞: https://www.alliedmarketresearch.com/request-sample/187
The global demand for building integrated photovoltaics market is primarily driven by an increase in efforts by national governments for the installation of solar energy panels. A rise in awareness regarding green infrastructure, including buildings with energy efficiency, is expected to boost demand for building-integrated photovoltaics (BIPV). BIPV provides a sustainable and effective solution for enhancing the energy efficiency of a structure, retrofitting the exterior of a structure, and providing significant savings in conventional power consumption. In addition, a rise in the implementation of supportive government regulations including financial benefits and incentives to promote green infrastructure, and a rise in investments in the solar industry across the globe is expected to increase solar energy integration in residential and commercial sectors during the forecast period. However, high initial costs of investments are expected to hamper the building integrated photovoltaics market growth during the forecast period. Furthermore, heat generation from BIPV modules is expected to provide growth opportunities for the global market during the forecast period.
By technology, the global building integrated photovoltaics market size is studied across crystalline silicon, thin film, and others. The crystalline silicon segment accounted for the largest market share in 2020, owing to its superior resistance to adverse weather conditions and high strength. The crystalline silicon segment dominated the global building integrated photovoltaics market, with more than two-thirds of the total market share in 2020.
𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/187
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The Building Integrated Photovoltaics (BIPV) industry’s key market players adopt various strategies such as product launch, product development, collaboration, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐏𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 (𝐁𝐈𝐏𝐕) 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,
CANADIAN SOLAR INC.
CARMANAH TECHNOLOGIES CORPORATION
HANERGY HOLDING GROUP LIMITED
GREATCELL SOLAR LIMITED
TESLA INC.
SOLARIA CORPORATION
AGC SOLAR
Ertex Solartechnik GmbH
HELIATEK GMBH
BELECTRIC
𝐏𝐫𝐞𝐬𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞: https://www.alliedmarketresearch.com/press-release/building-integrated-photovoltaic-market.html
By application, the global building integrated photovoltaics market is studied across roofs, walls, glass, façade, and others. The roof segment accounted for the largest market share in 2020, owing to the availability of a larger panel installation area for BIPV. The roof segment dominated the global market with one-third of the total market share in 2020.
By end-use, the global building integrated photovoltaics market is studied across residential, commercial, and industrial. The commercial segment emerged as the leader in 2020, owing to the increasing awareness of zero-emission green infrastructure. BIPV installations improve the aesthetic appeal of commercial establishments and provide major savings on electricity consumption, thereby driving product deployment across the commercial segment. The commercial segment dominated the global building integrated photovoltaics market with more than half of the total market share in 2020.
Region-wise, the global building integrated photovoltaics market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe emerged as the leader in 2020, owing to the European Commission’s supportive directives in the form of financial incentives, such as subsidies on photovoltaic integration. Europe accounted for a major building integrated photovoltaics market share in 2020 and dominated the global market with more than one-third of the total market share in 2020.
𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/187
𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:
– In 2020, Europe dominated the global building integrated photovoltaics market with around 39.8% share, in terms of revenue.
– North America is projected to grow at the highest CAGR of 20.7% in terms of revenue.
– The crystalline silicon segment dominated the global building integrated photovoltaics market with around 70.0% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 20.4% in terms of revenue.
– The roof segment dominated the global building integrated photovoltaics market with around 38.7% of the share in terms of revenue.
– The glass segment is projected to grow at the highest CAGR of 21.0% in terms of revenue.
– The commercial segment dominated the global building integrated photovoltaics market with around 53.8% of the share in terms of revenue.
– The residential segment is projected to grow at the highest CAGR of 20.7% in terms of revenue.
𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝟏. 𝐓𝐡𝐞𝐫𝐦𝐨𝐩𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 – https://www.globenewswire.com/news-release/2023/07/13/2704638/0/en/Thermophotovoltaics-Market-to-Reach-400-2-million-Globally-by-2032-at-12-8-CAGR-Allied-Market-Research.html
𝟐. 𝐅𝐥𝐨𝐚𝐭𝐢𝐧𝐠 𝐏𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 (𝐅𝐏𝐕) 𝐌𝐚𝐫𝐤𝐞𝐭 – https://www.globenewswire.com/news-release/2023/03/30/2637849/0/en/Floating-Photovoltaics-FPV-Market-Is-Expected-to-Reach-106-0-Million-by-2031-Allied-Market-Research.html
𝟑. 𝐀𝐠𝐫𝐢𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 – https://www.globenewswire.com/news-release/2023/02/28/2617310/0/en/Agrivoltaics-Market-Is-Expected-to-Generate-9-3-Billion-by-2031-Allied-Market-Research.html
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
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