A recent report published by
Infinium Global Research on building integrated photovoltaics market provides
in-depth analysis of segments and sub-segments in the global as well as
regional building integrated photovoltaics market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional building integrated photovoltaics market over the short term as well
as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global building integrated photovoltaics market. According
to the report, the global building integrated photovoltaics market is projected
to grow at a CAGR of 18.5% over the forecast period of 2020-2026.
Market Insight
Building-integrated photovoltaic
(BIPV) systems are designed throughout the architectural design stage and are
added during initial construction. BIPV systems use solar panels which are
incorporated into buildings for electricity generation by transforming solar
energy into electrical energy. Also, BIPV products are capable of providing
natural lighting, thermal insulation, structural stability, and protection from
water and external elements among others. They can be served as both the outer
layer of a structure and generate electricity for on-site use or export to the
grid.
Rapid urbanization, increasing
demand for photovoltaic’s due to the changing preferences of several
infrastructure developers, and the increasing trend of zero-emission buildings
are driving the global BIPV market growth.
Also, favorable government regulations and policies on the use of solar
photovoltaics are aiding the growth of the BIPV market. However, the high
initial investment for building-integrated photovoltaics and a lack of expertise
in designing is the major hindrance to the growth of this market. Nevertheless,
growing trends of building-integrated photovoltaics and manufacturers
collaborating with construction companies are creating new opportunities for
the market. Also, advancement in the field of photovoltaic cells with new cell
generation technologies is further creating new growth opportunities for
existing and new players in this market. The current concern over the spread of
coronavirus has severely impacted the building and construction industry.
COVID-19 pandemic impacted the growth of the building integrated photovoltaic’s
market as the demand for the materials required in the construction industry
faced a major decline. Further, sudden shutdown of construction projects, restrictions
on-site access along traveling limitations affected the overall value chain and
consumer demand dropped. Although
construction and the industrial outlook are certainly challenged due to the
global pandemic, there are bright spots including residential construction.
Among the geographies, Asia
Pacific region is expected to hold the largest share in the global building
integrated photovoltaics market as countries such as India and China are the
front-runners of the adoption of advanced solar power equipment. Further,
increasing investment in infrastructure development along with rapid
technological advancement escalates market growth. Furthermore, the North
America region is expected to witness the highest growth rate during the
projection period, due to changing consumer preferences, rising demand for BIPV
from the industrial sector, and growing focus on R&D.
Segment Covered
The report on the global building
integrated photovoltaics market covers segments such as technology,
application, and end use. On the basis of technology, the sub-markets include
thin-film PV, crystalline silicon, and others. On the basis of application, the
sub-markets include roofs, walls, glass, façade, and others. On the basis of
end use, the sub-markets include residential, commercial, and industrial.
Companies Profiled:
The report provides profiles of
the companies in the market such as First Solar Inc., Onyx Solar Group LLC.,
Sharp Solar, Sapa Soar, Ascent Solar Technologies Inc, Centrosolar Group AG,
Ertex-solartechnik Gmbh, Ecotemis, Heliatek Gmbh, and Power Film Inc.
Report Highlights:
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of building integrated photovoltaics market. Moreover, the study
highlights current market trends and provides forecasts from 2020-2026. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.