A building integrated photovoltaic (BIPV) system is a fundamental component for building surface that can convert solar energy into electricity. In addition, it also provides protection from harsh weather conditions. Growing environmental concerns are expected to raise the demand for BIPV systems in the coming years.
The global building integrated photovoltaics market was valued at US$7053.66 mn in 2018 and it is expected to reach US$9486.38 mn by the end of 2025, rising at a CAGR of 4.32% between 2019 and 2025. QY Research analysts have published a detailed report of the market, titled “Global Building Integrated Photovoltaics (BIPV) Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.” The report discusses at length the lucrative opportunities for the market.
Global Building Integrated Photovoltaics (BIPV) Market: Drivers
The growing environmental concerns and various government initiatives to promote renewable energy to tackle climate change have raised the stake for the global market. The construction of ultra-low energy buildings is gaining importance, which is stoking the demand for BIPV technology. The advantage of building integrated photovoltaics offer multiple functions such as thermal insulation and on-site electricity production. BIPV modules are capable of offsetting the initial system costs. BIPV modules may be used across a wide range of applications including roofs, walls, facades, glazing, and windows, among others. These features of BIPV is creating a high demand.
Global Building Integrated Photovoltaics (BIPV) Market: Segment Analysis
The global building integrated photovoltaics market is segmented on the basis of type and application. In terms of type, the market is segmented into single crystal silicon, polycrystalline silicon, and thin film. In terms of application, the market is segmented into residential, commercial, and others. The commercial segment is one of the most popular segments as it is the highest user of BIPV as builders try to make energy savings tangible.
Global Building Integrated Photovoltaics (BIPV) Market: Regional Analysis
On the basis of region, the global building integrated photovoltaics market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Europe is the most flourishing region in the global building integrated photovoltaics market, followed by North America. Asia Pacific is also showing good progress in the global building integrated photovoltaics market.
Global Building Integrated Photovoltaics (BIPV) Market: The Key Players
The key players studied in the global building integrated photovoltaics market are Sharp, First Solar, Yingli Solar, SunPower, Solar Frontier, Hanwha Solar, Solarcentury, Panasonic, REC Group, Canadian Solar, Kyocera, Suntech, Meyer Burger, Trina Solar, Harsha Abakus Solar, AGC Solar, ISSOL, Sapa Group, SolarWorld AG, and Jinko Solar.
This report also studies the global market competition, drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors.