NEW YORK, July 23, 2024 /PRNewswire/ -- The global building
integrated photovoltaics market size is estimated to grow by
USD 36.17 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of almost 21.25% during the forecast period. Rising demand to
reduce energy costs is driving market growth, with a trend towards
growing number of green building. However, intermittent nature of
solar power poses a challenge. Key market players include AGC
Inc., BELECTRIC Solar and Battery GmbH, Canadian Solar Inc., ertex
solar, First Solar Inc., Hanergy Thin Film Power EME BV,
Harsha Abakus Solar Pvt. Ltd., Heliatek GmbH, Kyocera Corp., Meyer
Burger Technology AG, Onyx Solar Group LLC, PowerFilm Solar Inc.,
Reliance Industries Ltd., SCHOTT AG,
Sharp Corp., Solaria Corp., Trina Solar Co. Ltd., United Solar
Ovonic Inc., Wuxi Suntech Power Co. Ltd., and Yingli Green Energy
Holding Co. Ltd..
![Technavio has announced its latest market research report titled Global Building Integrated Photovoltaics Market 2024-2028 Technavio has announced its latest market research report titled Global Building Integrated Photovoltaics Market 2024-2028](https://mma.prnewswire.com/media/2466242/Technavio__Global_Building_Integrated_Photovoltaics_Market.jpg)
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Building Integrated
Photovoltaics Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
21.25%
|
Market growth
2024-2028
|
USD 36.17
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
20.65
|
Regional
analysis
|
Europe, APAC, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
Europe at
41%
|
Key
countries
|
US, China, Japan,
Germany, and Italy
|
Key companies
profiled
|
AGC Inc., BELECTRIC
Solar and Battery GmbH, Canadian Solar Inc., ertex solar, First
Solar Inc., Hanergy Thin Film Power EME BV, Harsha Abakus
Solar Pvt. Ltd., Heliatek GmbH, Kyocera Corp., Meyer Burger
Technology AG, Onyx Solar Group LLC, PowerFilm Solar Inc., Reliance
Industries Ltd., SCHOTT AG, Sharp Corp., Solaria Corp., Trina Solar
Co. Ltd., United Solar Ovonic Inc., Wuxi Suntech Power Co. Ltd.,
and Yingli Green Energy Holding Co. Ltd.
|
Market Driver
The construction industry consumes a significant amount of
energy, with buildings accounting for approximately 40% of the
world's energy consumption and being the largest emitters of
greenhouse gases. Buildings continuously consume energy without
replenishment, leading to the depletion of natural resources and
increased energy costs. Green buildings, designed to minimize
energy consumption and efficiently utilize available energy, have
emerged as a solution to this challenge. These buildings recycle
their by-products and help conserve energy while operating
efficiently. The global green building market is expected to grow
significantly during the forecast period due to increasing
awareness about climate change and energy efficiency. Various green
building associations and councils, including the Indian Green
Building Council, Green Building Japan, The Emirates Green Building
Council, US Green Building Council, Green Building Council of
Australia, China Association of
Building Energy Efficiency, and The German Green Building
Association, are driving the adoption of new technologies to
minimize energy consumption and reduce greenhouse gas emissions.
Building Integrated Photovoltaics (BIPV) systems, which make
buildings environmentally friendly by generating electricity using
solar power, are expected to play a crucial role in this
growth.
The Building Integrated Photovoltaics (BIPV) market is
experiencing a significant recovery as businesses and homeowners
prioritize energy efficiency and renewable energy sources. Labor
shortages in the solar panel industry are driving innovation in
BIPV systems, making installation more streamlined and
cost-effective. Both residential and non-residential sectors are
adopting BIPV, with household adoption increasing due to lower
energy bills and reduced carbon footprint. The commercial and
industrial segments are also investing in BIPV, particularly in
integrated roof systems and solar walls. Thin-film and crystalline
PV technologies, including crystalline silicon and organic
photovoltaics, are key players in the solar panel market. The BIPV
market caters to various applications like BIPV facades, shading
and membranes, and building integrated walls. The trend towards
energy-efficient buildings and fuel efficiency is expected to
continue, making BIPV an attractive option for those seeking to
reduce conventional power usage and improve health
benefits.
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Market Challenges
- Building Integrated Photovoltaics (BIPV) systems have gained
popularity due to the decreasing solar power prices and increasing
adoption. However, the intermittent nature of solar power poses
challenges for grid operators and power systems. Solar panel
efficiency, solar irradiation, and shading significantly impact
power output, which varies throughout the day and with weather
conditions. The mismatch between energy production and demand can
be a significant hurdle, especially during peak demand hours when
the sun is not shining. This intermittency may hinder the growth of
the global Building Integrated Photovoltaics market during the
forecast period.
- The Building Integrated Photovoltaics (BIPV) market is growing
as businesses and homeowners seek to incorporate renewable energy
sources into their structures. However, challenges exist in this
sector. The solar panel market faces competition from disposable
income levels, making residential and commercial building
integrations more attractive. Integrating BIPV into roof systems
and walls presents complexities with crystalline silicon and thin
film photovoltaic materials versus conventional building materials.
BIPV components include solar panels on roofs, skylights, and
facades, as well as solar walls and BIPV facades. Shading and
membranes are also essential considerations. The industrial segment
is a significant market for BIPV, with a focus on energy
conservation, environmental concerns, and architectural
optimization. BIPV technology includes thin-film and
semi-transparent solar panels. Solar power generation offers
ecological benefits, reducing carbon footprints and reliance on
non-renewable power resources like oil and coal. Wireless
connectivity and heat generation are additional features of BIPV
systems. Roofs, walls, glass, and facades are the primary focus
areas for BIPV implementation. The construction sector is embracing
this technology to reduce energy costs and promote clean energy.
The Solar PV industry is evolving to meet the demands of commercial
infrastructures, offering innovative solutions for energy-efficient
buildings.
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Segment Overview
This building integrated photovoltaics market report extensively
covers market segmentation by
- End-user
- 1.1 Commercial
- 1.2 Residential
- 1.3 Industrial
- Panel Type
- 2.1 Crystalline panel
- 2.2 Thin-film panel
- Geography
- 3.1 Europe
- 3.2 APAC
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Commercial- The commercial segment dominates
the global Building Integrated Photovoltaics (BIPV) market due to
the higher energy consumption in commercial buildings compared to
residential ones. BIPV systems enable these structures to generate
their electricity on-site, reducing reliance on grid-connected
power and resulting in substantial energy cost savings over time.
Governments worldwide are promoting energy management systems and
BIPV technologies to enhance overall building efficiency. Financial
incentives for alternative energy sources like solar power, which
lower carbon emissions, make the BIPV market an attractive
investment. Commercial end-users, including institutions, offices,
hospitals, and small-medium enterprises, are investing heavily in
solar energy to minimize their dependence on unreliable
grid-connected power. The commercial sector's growth is anticipated
during the forecast period due to increasing demand for office
space, hospitals, and commercial organizations. The US Better
Building Program, aimed at improving commercial building energy
efficiency by 20% by 2020, includes investments in clean energy
technologies and cost-effective upgrades, further boosting the
market. Government policies and incentives significantly influence
the BIPV market's growth. Stimulus packages and green initiatives
support could positively impact the market during the forecast
period.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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The global solar-photovoltaic-services market is experiencing
significant growth, driven by increasing demand for renewable
energy and government incentives. Key players are focusing on
innovative solutions to improve efficiency and reduce costs.
Concurrently, the global solar panel recycling market is expanding
due to the rising need for sustainable disposal of decommissioned
panels. With the growing adoption of solar energy, the market for
recycling services is projected to flourish, ensuring environmental
sustainability and resource recovery. Major companies are investing
in advanced recycling technologies to address the anticipated surge
in end-of-life solar panels.
Research Analysis
Building-integrated photovoltaics (BIPV) is an innovative
approach to harness solar energy by integrating solar panels into
building structures. This method offers several advantages over
traditional solar panel installations, including aesthetic appeal,
increased energy efficiency, and reduced installation costs. The
BIPV market is witnessing significant growth due to the increasing
adoption of renewable energy sources and the expanding solar panel
market. Disposable income levels and energy efficiency concerns are
driving the demand for BIPV systems in both residential and
commercial buildings. BIPV systems can be integrated into various
building components such as roofs, skylights, facades, and even
solar panels themselves. The construction sector is embracing BIPV
as an alternative to conventional building materials, with
thin-film photovoltaic materials gaining popularity due to their
flexibility and cost-effectiveness. Favorable government
regulations, decreasing energy bills, and the desire to reduce
carbon footprint are further fueling the growth of the BIPV market.
BIPV systems come in two main types: thin-film PV and crystalline
PV. Thin-film PV is popular for its flexibility and ease of
integration into building structures, while crystalline PV is known
for its high efficiency and durability. The BIPV market caters to
the residential, commercial, and industrial sectors, with each
segment presenting unique opportunities and challenges.
Market Research Overview
Building Integrated Photovoltaics (BIPV) is an innovative
approach to renewable energy generation, where solar panels are
integrated into the fabric of buildings as roofing systems, walls,
skylights, and facades. The Solar panel market is witnessing
significant growth due to disposable income levels, energy
conservation, and environmental concerns. BIPV systems are
increasingly being adopted in residential and commercial buildings,
as well as industrial segments. Photovoltaic materials such as
crystalline silicon, thin film, and Organic photovoltaics (OPV) are
used in BIPV systems. Integrated roof systems, solar walls,
building-integrated walls, BIPV facades, shading and membranes are
some of the components of BIPV. The construction sector is
embracing BIPV as an alternative to conventional building materials
like roofs, walls, glass, and facade. Thin-film solar panels and
semi-transparent solar panels are popular choices for BIPV due to
their flexibility and aesthetic appeal. BIPV offers ecological
benefits, including reducing carbon footprints, energy
conservation, and clean energy generation. However, labor shortages
and recovery costs can be challenges. The BIPV industry is also
exploring wireless connectivity and heat generation to optimize
energy usage and improve efficiency. The shift towards renewable
energy sources is driven by concerns over non-renewable power
resources like oil and coal, and the need to reduce energy bills
and household adoption of solar energy panels. BIPV systems offer
architectural optimization, fuel efficiency, energy-efficient
buildings, health benefits, and commercial infrastructures.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Commercial
- Residential
- Industrial
- Panel Type
-
- Crystalline Panel
- Thin-film Panel
- Geography
-
- Europe
- APAC
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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