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.