Building Integrated Photovoltaics Market (Technology - Thin-film PV, Crystalline Silicon, and Others; Application - Roofs, Walls, Glass, Facade, and Others; End User - Residential, Commercial, and Industrial): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

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, forecast and dollar values of global building integrated photovoltaics market.

Market Insight:

The global building integrated photovoltaics market was valued at USD 23.4 billion in 2022 and is expected to reach USD 107.7 billion in 2030, with a CAGR of 21.02% during the forecast period 2023-2030.

Building-integrated Photovoltaics (BIPV) represents a revolutionary approach to incorporating solar energy harvesting capabilities directly into the architecture of buildings. Unlike traditional solar panels mounted on rooftops or in open spaces, BIPV seamlessly integrates photovoltaic technology into various structural elements of a building, serving the dual purpose of generating renewable energy while maintaining the building's aesthetic appeal. This innovative technology transforms the very fabric of structures, turning surfaces like walls, windows, roofs, and facades into active solar energy generators. One of the distinctive features of BIPV is its versatility in design and application. BIPV systems can be customized to match the specific requirements and aesthetic preferences of a building, providing architects and designers with greater flexibility in incorporating sustainable energy solutions. The integration of solar cells into building materials not only enhances energy efficiency but also contributes to the overall sustainability and eco-friendliness of the built environment. BIPV systems typically utilize various photovoltaic technologies, including thin-film PV and crystalline silicon, among others. These technologies enable the capture and conversion of sunlight into electricity, thereby reducing the reliance on conventional energy sources and lowering the carbon footprint of buildings. As the demand for renewable energy solutions continues to grow, BIPV plays a pivotal role in promoting sustainable practices within the construction and real estate sectors.

The market is experiencing a surge in growth attributed to a rising demand for solar photovoltaics within residential applications. As homeowners increasingly recognize the benefits of harnessing solar energy, the residential sector has become a key driver for the expansion of the market. Furthermore, the market is expected to grow due to an upswing in government initiatives and programs. These efforts are anticipated to further stimulate the adoption of solar photovoltaics, creating a conducive environment for market expansion. Government support, including incentives and policies, plays a pivotal role in shaping the growth of the market. However, the high initial investments required for building integrated photovoltaics and a lack of expertise in designing these systems can hamper the growth of the market. Nonetheless, the growing urbanization and construction boom are expected to provide lucrative opportunities for the growth of the market. As cities expand and construction activities intensify, there is a growing need for sustainable energy solutions, presenting a lucrative opportunity for the market to thrive.

The global building integrated photovoltaics market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe region dominated the market during the forecasted period. European countries have been at the forefront of adopting and promoting renewable energy solutions, driven by stringent environmental regulations and a strong commitment to sustainability. Government policies and incentives in many European nations have encouraged the integration of solar technologies into building structures, thereby boosting the demand for BIPV systems. Additionally, the Europe region has witnessed significant advancements in technology and design within the BIPV sector. This has led to the development of more efficient and aesthetically pleasing BIPV solutions, further attracting consumers and businesses alike. The emphasis on architectural integration and urban planning that incorporates renewable energy sources has been a notable trend in European construction practices, supporting the growth of the BIPV market. Moreover, the North America region is anticipated to grab a significant share of the market due to the increasing recognition and adoption of sustainable energy practices in North America. Governments and regulatory bodies in countries such as the United States and Canada have been actively promoting clean energy solutions, fostering a conducive environment for the growth of building integrated photovoltaics (BIPV).

Report Scope of the Building Integrated Photovoltaics Market:

Segment Covered

The report on global building integrated photovoltaics market covers segments such as technology, application, and end user. 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, facade, and others. On the basis of end user, the sub-markets include residential, commercial, and industrial.

Companies Profiled:

The report provides profiles of the companies in the market such as Hanergy Holding Group Ltd., AGC Inc., Tesla, Heliatek GmbH, Ertex Solar, Onyx Solar Group LLC, NanoPV Solar Inc., Polysolar Ltd, ViaSolis, and TOPSUN ENERGY LIMITED.

Report Highlights:

The report provides deep insights into 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 the building integrated photovoltaics market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. 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.