Building-Integrated Photovoltaics Market

Building-Integrated Photovoltaics Market Segmentation by Type (Thin-Film, and Crystalline); by Application (Industrial, Commercial, and Residential Buildings) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3370 | Published On: Feb 08, 2023

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News

·   May 8, 2020: AGC announced that its Building Integrated Photovoltaic (BIPV) product has been adopted for Takanawa Gateway Station (Minato-ku, Tokyo) which recently began functioning on March 14, 2020. The product was installed at two locations: the wall surfaces in the station and the roof of Takanawa Gateway Station's Tokyo-bound platform.


Global Building-Integrated Photovoltaics Market Highlights 2022 – 2030

The global building-integrated photovoltaics market is estimated to garner a large amount of revenue by growing at a CAGR of ∼15% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing efforts by governments of several nations to install solar energy panels and increasing awareness to design buildings in an energy efficient way. Along with these, rising emphasis of developed nations associated with green infrastructure is also expected to drive growth to the market in the near future. According to the European Commission, developing green infrastructure is a key step towards the success of the EU 2020 Biodiversity Strategy. The Strategy's target requires that ecosystems and their services are maintained and enhanced by establishing green infrastructure and restoring at least 15% of degraded ecosystems. Furthermore, building integrated photovoltaics or BIPVs are becoming widely popular around the world as a result of their effectiveness in sustainably retrofitting building envelopes and improving the energy efficiency of buildings. This is considered to be a crucial factor projected to offer ample growth opportunities to the market in the forthcoming years.

Building-Integrated Photovoltaics Market

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The market is segmented by type into thin-film, and crystalline, out of which, the crystalline segment is anticipated to hold the largest share in the global building-integrated photovoltaics market during the forecast period on account of the largescale usage of crystalline material to produce BIPV. In addition, crystalline silicone has high strength and exceptional resistance to difficult weather conditions, which is also assessed to boost the growth of the market segment in the coming years. Moreover, on the basis of application, the industrial buildings segment is predicted to occupy the largest share by the end of 2030, owing to the increasing number of utility scale projects across several countries, and rising use of renewable energy sources in the industrial sector globally. 


Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.


Global Building-Integrated Photovoltaics Market Regional Synopsis

On the basis of geographical analysis, the global building-integrated photovoltaics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Europe is estimated to acquire the largest share over the forecast period on the back of the high reduction in the levelized cost of electricity of solar installations, growing emphasis on the use of clean energy, and rise in number of financial incentives offered by the European Commission for photovoltaic integration. For instance, the European Union launched the EU-China Energy Cooperation Platform on 15 May 2019 to support the implementation of activities announced in the “Joint Statement on the Implementation of EU-China Energy Cooperation”. This enhanced cooperation will help increase mutual trust and understanding between EU and China and contribute to a global transition towards clean energy on the basis of a common vision of a sustainable, reliable and secure energy system. Additionally, the market in North America is also evaluated to grab a significant share during the forecast period, which can be credited to the presence of favorable regulations regarding installation of BIPVs and growing investments for the development of innovative building technologies by prominent market players.

The global building-integrated photovoltaics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Building-Integrated Photovoltaics Market
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Market Segmentation

Our in-depth analysis of the global building-integrated photovoltaics market includes the following segments:

By Type

  • Thin-Film
  • Crystalline

By Application

  • Industrial Buildings
  • Commercial Buildings
  • Residential Buildings

Growth Drivers

  • Increasing Government Efforts to Install Solar Panels
  • Growing Focus of Developed Countries on Green Infrastructure

Challenges

  • Less Awareness about BIPVs in Lower Economic Regions


Electricity Consumption
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Top Featured Companies Dominating the Market

    • Merck KGaA
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • ONYX Solar Group LLC
    • AGC Inc.
    • Changzhou Almaden Co. Ltd
    • Heliatek GmbH
    • Carmanah Technologies Corporation
    • Dyesol Ltd. 
    • Ertex solartechnik GmbH
    • ISSOL SA
    • Tesla Inc.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the building-integrated photovoltaics market?

Ans: The major factors driving market growth are increasing government efforts to install solar panels and growing focus of developed countries on green infrastructure.

2) What would be the CAGR of building-integrated photovoltaics market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ∼15% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the building-integrated photovoltaics market growth?

Ans: Less awareness about BIPVs in lower economic regions is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of building-integrated photovoltaics market in future?

Ans: Europe will provide more business opportunities to the market owing to the high reduction in the levelized cost of electricity of solar installations in the region.

5) Who are the major players dominating the building-integrated photovoltaics market?

Ans: The major players in the market are Merck KGaA, ONYX Solar Group LLC, AGC Inc., Changzhou Almaden Co. Ltd, Heliatek GmbH, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the building-integrated photovoltaics market?

Ans: The market is segmented by type, application, and by region.

8) Which segment captures the largest market size in the application segment in the building-integrated photovoltaics market?

Ans: The industrial buildings segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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