Pune, India, Sept. 02, 2021 (GLOBE NEWSWIRE) -- According to credible sources, global BIPV (Building Integrated Photovoltaic) market was valued at USD 14.4 billion in 2020 and is estimated to record a CAGR of 20% over 2021-2027, subsequently garnering a valuation of USD 51.6 billion by the end of forecast period. Increasing government initiatives for accelerating adoption of solar energy panel and growing awareness regarding green infrastructure are primarily driving the market growth.
Moving on, the study elaborates on various market segmentations including technology, application ambit end-user scope, and regional ambits. It also constitutes detailed profiles of major players to offer a clear understanding of the competitive scenario in the industry sphere.
Citing an instance, in June 2020, European researchers from the Interdisciplinary Research Institute of Grenoble developed solar PV panels with changing colors that can automatically adjust to the intensity of light and the temperature level of buildings with glass exteriors and huge windows. The mini modules have a 3.68% efficiency rating and a 14 sq.cm. area, reducing costs of PV panel production significantly. Such innovations in solar technology will continue to enhance the overall BIPV (building integrated photovoltaic) industry remuneration scope.
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For the uninitiated, building integrated photovoltaics are photovoltaic materials used as a substitute to some traditional construction components. They are utilized in skylights, roofs, facades and many other elements. Solar panels are a type of BIPV which are used in construction industry.
As mentioned in the report, huge initial investment requisite is likely to hinder the market progression over the estimated timeline of 2021-2027.
Market segmentation overview:
Based on technology, the market is segmented into crystalline silicon and thin film. Considering application ambit, the marketplace is categorized into roofs and glass. Speaking of the end user range, the business space is divided into industrial and commercial.
Geographical outlook:
As per expert analysts, Europe BIPV (building integrated photovoltaic) market accounts for a significant part of the overall share and is likely to showcase consistent growth throughout 2021-2027. Rise in customer inclination to adopt green practices due to increasingly stringent environmental regulations, in line with rising pressure to reduce net energy consumption from buildings to minimize CO2 emissions is favoring the regional market expansion.
Meanwhile, North America captured substantial market share in the recent past, with the U.S. and Canada majorly contributing to the revenue growth in the region. This can be ascribed to favorable laws and standards that foster the expansion of BIPV installations across industrial and commercial enterprises in the region.
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Global BIPV (Building Integrated Photovoltaic) Market, by Technology (Revenue, USD Billion, 2018-2027)
- Crystalline Silicon
- Thin Film
Global BIPV (Building Integrated Photovoltaic) Market, by Application Ambit (Revenue, USD Billion, 2018-2027)
- Roofs
- Glass
Global BIPV (Building Integrated Photovoltaic) Market, by End User (Revenue, USD Billion, 2018-2027)
- Industrial
- Commercial
Global BIPV (Building Integrated Photovoltaic) Market, Regional Terrain (Revenue, USD Billion, 2018-2027)
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
North America
- U.S.
- Canada
Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Rest of Europe
Rest of the World
Global BIPV (Building Integrated Photovoltaic) Market, Competitive Dashboard (Revenue, USD Billion, 2018-2027)
- Odersun AG
- Konarka Technologies Inc.
- Ertex Solartechnik GmbH
- AGC Inc.
- Issol SA
- Sunovation GmbH
- Merck KGaA
- NanoFlex Power Corporation
- Onyx Solar Group LLC
- Changzhou Almaden Co., Ltd.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. BIPV Market, by Region, 2019-2027 (USD Billion)
1.2.2. BIPV Market, by Technology, 2019-2027 (USD Billion)
1.2.3. BIPV Market, by Application, 2019-2027 (USD Billion)
1.2.4. BIPV Market, by End use, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global BIPV Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global BIPV Market Dynamics
3.1. BIPV Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Rise in government initiatives for solar energy panel
3.1.1.2. Rising awareness regarding green infrastructure
3.1.2. Market Restraint
3.1.2.1. Need for high initial investment
3.1.2.2. Lack of expertise with respect to design & installation
3.1.3. Market Opportunities
3.1.3.1. Growing new generation cell technologies
3.1.3.2. Increase in collaboration with construction industry
Chapter 4. Global BIPV Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global BIPV Market, by technology
5.1. Market Snapshot
5.2. Global BIPV Market by Technology, Performance - Potential Analysis
5.3. Global BIPV Market Estimates & Forecasts by technology 2018-2027 (USD Billion)
5.4. BIPV Market, Sub Segment Analysis
5.4.1. Crystalline Silicon
5.4.2. Thin Film
Chapter 6. Global BIPV Market, by End use
6.1. Market Snapshot
6.2. Global BIPV Market by End Use, Performance - Potential Analysis
6.3. Global BIPV Market Estimates & Forecasts by End Use 2018-2027 (USD Billion)
6.4. BIPV Market, Sub Segment Analysis
6.4.1. Roofs
6.4.2. Glass
Chapter 7. Global BIPV Market, by Application
7.1. Market Snapshot
7.2. Global BIPV Market by Application, Performance - Potential Analysis
7.3. Global BIPV Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
7.4. BIPV Market, Sub Segment Analysis
7.4.1. Industrial
7.4.2. Commercial
Chapter 8. Global BIPV Market, Regional Analysis
Related Report:
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Global Photovoltaic Market to reach USD 132.1 billion by 2027. Global Photovoltaic Market is valued approximately at USD 70.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2020-2027. The photovoltaic system is used to convert sunlight into electricity without increasing the carbon footprint. It further stores energy for future use and has low operating cost as compared to the traditional systems. It is used in wide range of applications including residential, commercial & industrial and utilities. The rising adoption of renewables in electronics, supportive government policies and initiatives for renewable energy sources and rising demand for PV systems for residential applications are the factors responsible for the growth of Photovoltaic Market over the forecast period 2020-2027.
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