Building-integrated Photovoltaics (BIPV) Market Size & Share, by Type (Thin-Film, Crystalline); Application (Industrial, Commercial, Residential Buildings) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3370
  • Published Date: Aug 04, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Building-integrated Photovoltaics Market size is anticipated to reach USD 136 billion by the end of 2035, growing at a CAGR of 20% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of building-integrated photovoltaics was over USD 20 billion. The ability of countries to install solar photovoltaics doubled with increasing demand for renewable energy sources is estimated to boost the market revenue in the projected period. In 2022, the percentage of solar photovoltaics installed in China was 100% and in India was 50% as per a report.

Increased awareness of energy security and self-sufficiency, favorable government legislation, as well as greenhouse gas (GHG) emissions reductions under the Kyoto Protocol by countries such as Germany, Italy, France, the United Kingdom, the United States, China, Japan, and India coupled with significant promise is projected to likely influence the building integrated photovoltaics market growth in the coming years. Moreover, increasing innovations in this area are expected to increase the operational efficiency of the products, which is predicted to raise market revenue.


Building-integrated Photovoltaics Market
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Building-integrated Photovoltaics Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Construction Activities with Solar Panel Installation Around the Globe – The growing prevalence of the residential and commercial sector is expected to raise the demand for green energy consumption which further is leading to demand for solar panel installation in the buildings. Besides, an increasing number of industries and hospitals are anticipated to drive market expansion. As per a report, solar power installations in residential buildings grew by 30% from 3 gigawatts in 2020 to 4 gigawatts in 2021.
  • Growing Demand for Zero-Emission Buildings – The increasing demand for zero-emission buildings in order to reduce carbon footprints is projected to boost the market in the future. Zero emission building investment grew by 15% and reached a revenue of USD 230 billion at the end of 2021.
  • Manufacturer's Focus on Green Materials – Considering the global situation manufacturers now are focusing on using green materials and sustainable products. Solar energy solutions are growing being integrated into commercial infrastructure to optimize architecture and save energy raising demand for building-integrated photovoltaic materials.

Challenges

  • High Installation Cost - High initial investment costs required due to the installation and design of solar power generation are estimated to hamper the market growth during the estimated period. Planning, design, and further complexity of solar power systems may also impede the market growth 
  • Poor Marketing of Products
  • Less Price and Growing Technology

Building-integrated Photovoltaics: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~20%

Base Year Market Size (2022)

~ USD 20 Billion

Forecast Year Market Size (2035)

~ USD 136 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Building-integrated Photovoltaics Segmentation

Type (Thin-Film, Crystalline)

The crystalline segment in the BIPV market is estimated to gain the largest revenue share of 60% in the year 2035. Most solar modules for roof exterior usages are manufactured with crystalline silicon. These are thick specs that generate more power compared to other technologies. Owing to its less price and maturity it is demanded by the consumers.  In 2021, Spanish BIPV system organization Onyx Solar will begin construction of a massive Solar BIPV exterior for the renovation of Sterling Bank's headquarters in Lagos, Nigeria. The manufacturer is planning to install about 3,250 crystalline solar modules on the facade of the building.

Application (Industrial, Commercial, Residential Buildings)

Building-integrated photovoltaics market from the industrial segment is estimated to observe significant growth during the forecast period. The increasing adoption of building-integrated photovoltaics is the significant reason behind the growth of the market. Now less reliability on renewable resources for power consumption of industries is anticipated to offer lucrative growth opportunities for the market.

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

          Type

  • Thin-Film
  • Crystalline

 

   

          Application

  • Industrial
  • Commercial
  • Residential Buildings

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Building-integrated Photovoltaics Industry – Regional Synopsis

North American Market Forecast

The building-integrated photovoltaics market in the North America region is projected to hold the largest market share of 38% by the end of 2035. Many businesses and corporations in North America have adopted sustainability goals, including the integration of renewable energy sources like BIPV. A study found that 73% of surveyed businesses in the United States have adopted clean energy initiatives to reduce their environmental impact and meet sustainability targets. BIPV can enhance energy resilience and independence for buildings, making it an attractive option for regions susceptible to power outages or grid instability. Supportive government policies, tax incentives, and renewable energy targets have encouraged the adoption of BIPV solutions.

APAC Market Statistics

The building-integrated photovoltaics market in the Asia Pacific region is projected to hold the second largest share during the forecast period. The Asia-Pacific region has achieved great success with the most affordable adoption of solar technology across many industries. Technologies in the region have reached maturity and with novel advanced technologies for BIPV, rooftop prices are continuously falling. Countries such as China, India, Japan, and ASEAN countries have made their mark in the field of photovoltaics systems, and numerous other applications. In September 2021, AGC Co., Ltd., a Japanese company of glass, chemical compounds, and advanced technologies substances, declared that its BIPV glass was selected for installation at the Singapore Institute of Technology's latest Punggol campus, which is expected to open by 2024.

Research Nester
Building-integrated Photovoltaics Market Size
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Companies Dominating the Building-integrated Photovoltaics Landscape

top-features-companies
    • Merck KGaA
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • The Dow Chemical Company
    • AGC Inc.
    • Changzhou Almaden Co. Ltd
    • Heliatek GmbH
    • Carmanah Technologies Corporation
    • Dyesol Ltd.
    • Ertex solartechnik GmbH
    • ISSOL SA
    • Tesla Inc.

In-the-news

In The News

  • The Dow Chemical Company announced the extension of its silicone sealant items and unveiled DOWSIL PV Product folio with six silicone-based sealants and adhesives options which were utilized to serve durability and improved performance for construction integrated photovoltaics installation materials.
  • AGC Inc. disclosed 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 places: the wall surfaces in the station and the roof of Takanawa Gateway Station's Tokyo-bound platform.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 3370
  • Published Date: Aug 04, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for zero-emission buildings is the major factor driving the market growth.

The market size of building-integrated photovoltaics is anticipated to attain a CAGR of 20% over the forecast period, i.e., 2023-2035.

The major players in the market are Merck KGaA, The Dow Chemical Company, AGC Inc., Changzhou Almaden Co. Ltd, Heliatek GmbH, Carmanah Technologies Corporation, Dyesol Ltd., Ertex solartechnik GmbH, ISSOL SA, Tesla Inc., and others.

The industrial segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Building-integrated Photovoltaics Market Report Scope
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