Global Building Integrated Photovoltaics (BIPV) Market 2022-2026 - Developed Countries Lead Market, Developing Economies to Spearhead Future Growth

DUBLIN, March 15, 2022 /PRNewswire/ -- The "Building Integrated Photovoltaics (BIPV) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Building Integrated Photovoltaics (BiPV) Market to Reach $20.1 Billion by 2026

The global market for Building Integrated Photovoltaics (BiPV) estimated at US$10.3 Billion in the year 2020, is projected to reach a revised size of US$20.1 Billion by 2026, growing at a CAGR of 12.4% over the analysis period.

C-Si, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$16.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 13.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $4.1 Billion by 2026

The Building Integrated Photovoltaics (BiPV) market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.

A confluence of factors is expected to drive growth in the market in the post COVID-19 period, including the declining cost per watt; enhanced aesthetics of BIPV; improving efficiency of c-Si modules as well as flexible thin-film panels; and unabated desire among residential and commercial building owners to 'go green'.

In the post COVID-19 period, BIPV adoption will be driven by anticipated rise in the construction activity in countries such as the US. In addition, there is also promise for BIPV technology adoption in developing economies such as China, India, Africa, and Latin America, which not only lack the infrastructure required for enabling traditional solar installations but also do not have the adequate grid infrastructure network. This implies that customers in such developing economies will move to distributed networks rather than choose the grid linked network, thus presenting significant potential for BIPV products.

New constructions, retrofits and refurbishment works in both commercial and residential sectors are expected to drive demand for BIPV products in the coming years. Advancements in technology that enhance efficiency as well as reduce silicon prices and thus BIPV costs is also expected to fare well for the market`s progress in the foreseeable future.

BIPV companies are also eyeing opportunities in emerging markets such as Asia-Pacific, particularly India for market expansion. Going forwards, building integrated PV is expected to generate significant economic interest in the future development of the low-energy housing market, and in PV roof applications and curtain wall installations.

By Application, Roofs Segment to Reach $11.6 Billion by 2026

Roofs are one of the most common applications of BIPV systems. This is because of the fact that pitched roofs at a specific angle are known to offer best energy harvesting. BIPV roof solutions make use of thin film as well as C-Si technologies.

While c-Si is the dominant technology, thin film technology finds use in case of shading caused by trees or structures such as chimneys that could lower efficiency levels if c-Si panels are used. Thin film technology is typically used only when crystalline modules cannot be used owing to their rigidity and heavy weight, or when the modules are required to be used on curved roofs.

Global market for Roofs (Application) segment is estimated at US$6.1 Billion in 2020, and is projected to reach US$11.6 Billion by 2026 reflecting a compounded annual growth rate of 12.0% over the analysis period.

Europe constitutes the largest regional market for Roofs segment, accounting for 41.6% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 15.7% over the analysis period, to reach US$3.1 Billion by the end of the analysis period.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• With COVID-19 Pandemic Crushing the Sentiment in the World Construction Sector, BIPV Market Set to Exhibit Substantial Decline in 2020
• COVID-19 Induced Supply Chain Disruptions Weaken Construction Activity, Curtailing Demand for BIPV Solutions
• Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Strongly Discourage BIPV Market
• Introduction to Building Integrated Photovoltaics (BIPV)
• An Insight into BIPV Technologies
• Cell and Module Efficiency of Commercial PV Technologies: A Comparison
• Comparison between Crystalline Silicon and Thin Film Technologies
• Comparison Chart of Solar Cell Efficiencies for Crystalline Silicon and Thin Films with respect to Temperature
• BIPV Applications
• Merits & Demerits of BIPV Products in Various Applications
• As the New Age 'Building Envelope Material' and 'Power Generator', BIPV Set to Resume Progressive Gains in Post COVID-19 Environment
• Growth Drivers in a Nutshell
• Image of BIPV as an Economically Viable, Multifunctional, Renewable Energy Source for Buildings to Stir Future Opportunities
• Developed Countries Lead Market, Developing Economies to Spearhead Future Growth
• Analysis by Technology Type
• C-Si: Primary Technology Vertical in the BIPV Domain
• Thin Film Technology Set to Make Robust Gains
• Analysis by Application Type
• Roofing Remains the Largest Application Segment for BIPV Market
• With Solar Roofing Shingles & Tiles Gaining Popularity, Roofing Set to Solidify its Dominant Position
• Glass Emerges as High Growth Application Segment
• BIPV Walls Seek to Widen Addressable Market
• Facades: Niche Application Area
• Competitive Scenario: BIPV Market Characterized by High Degree of Fragmentation
• Recent Market Activity
• Glass Industry Players Seek Opportunities in BIPV Vertical

2. FOCUS ON SELECT PLAYERS (Total 104 Featured) 

• Ascent Solar Technologies, Inc.
• Canadian Solar, Inc.
• Greatcell Energy Limited
• First Solar, Inc.
• Hanergy Holding Group Ltd.
• Global Solar Energy, Inc.
• Hanwha Q CELLS Co., Ltd.
• Heliatek GmbH
• Sharp Corporation
• Trina Solar
• Wuxi Suntech Power Co., Ltd.
• Yingli Green Energy Holding
• AGC Inc.
• BELECTRIC GmbH
• CertainTeed Corporation
• Ertex solartechnik GmbH
• Onyx Solar Energy S.L.
• Romag
• Scheuten Glas Nederland B.V.

3. MARKET TRENDS & DRIVERS

• Emphasis on Energy-Efficient, Green, LEED Buildings Builds Fertile Environment for BIPV Market
• Relevance of Zero Energy Building Constructions Bodes Well for Future Growth
• Smart City, the New Urban Infrastructure Model, to Steer Next Wave of Growth in BIPV Market
• Sustained Rise in Global Electricity Demand Creates Conducive Scenario for Wider Uptake of BIPV Solutions
• BIPV Market Stands to Gain from Growing Focus on Renewable Energy Sources
• Targets for Electricity Production from Renewable Energy Sources in Select Countries
• With Solar Energy Emerging as Reliable Renewable, BIPV Anticipates Parallel Momentum
• Government Participation in Boosting Solar Energy Uptake Elevates Momentum in BIPV Domain
• Future Prospects Remain Favorable Amid Growing Population & Urbanization Drive
• Industrial Sector: Largest Revenue Contributor
• Fast Paced Growth Anticipated in Commercial Buildings Vertical
• BIPV Solutions Remain Highly Relevant in Residential Buildings
• Besides New Installations, High-Growth Opportunities Exist for BIPV in Retrofit Market
• Retrofit Opportunity in Government, Prestige, & Historic Buildings Verticals
• Technology Advancements & Product Innovations Widen Addressable Market for BIPV Solutions
• Advanced R&D Efforts Bring Forth BIPV-T Solar Roofing Technology
• Colored Photovoltaic Continue to Gain Traction in BIPV R&D Programs
• Customized PV Systems Emerge as New R&D Focus Area
• Sonnenstromfabrik Brilliant PV Modules
• IRIG Develops Self-Adjusting BIPV Panels
• Meyer Burger's SmartWire Connection Technology (SWCT)
• Metal Wrap Through (MWT) Technology
• Passivated Emitter and Rear Cell (PERC) Technology
• Organic Solar PV Cells
• DysCrete Building Material
• Solar Cloth PVs
• Perovskite Materials
• A Glance at BIPV-Related Standards & Codes
• International Electrotechnical Commission (IEC) Standards
• Underwriters Laboratory (UL) Standards
• Growth Barriers & Restraints

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/yrv8wm

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