DUBLIN, March 15, 2022 /PRNewswire/ — The “Building Integrated Photovoltaics (BIPV) – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global Building Integrated Photovoltaic (BiPV) Market to Reach $20.1 billion by 2026
The global Building Integrated Photovoltaic (BiPV) market estimated at US$10.3 billion in 2020, is expected 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 expected to register a CAGR of 12.3% and reach US$16.3 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the thin film segment growth is readjusted to a revised CAGR of 13.6% for the next 7-year period.
The US market is estimated at $1.6 billion in 2021, when China is expected to reach $4.1 billion by 2026
The building-integrated photovoltaic (BiPV) market in the United States is estimated at US$1.6 billion in the year 2021. Chinathe second largest economy in the world, is expected to reach a projected market size of US$4.1 billion by 2026 with a CAGR of 16.2% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 9.6% and 11.8% respectively over the analysis period. In Europe, Germany is expected to grow at around 11.7% CAGR.
A confluence of factors is expected to drive market growth in the post-COVID-19 era, including declining cost per watt; improved aesthetics of BIPV; improving the efficiency of c-Si modules as well as thin-film flexible panels; and the constant desire of residential and commercial building owners to “go green”.
In the post-COVID-19 era, the adoption of BIPV will be driven by the expected uptick in construction activity in countries like the United States. In addition, the adoption of BIPV technology is also promising in developing economies such as China, India, Africaand Latin America, which not only lack the infrastructure to enable traditional solar installations, but also lack the proper grid infrastructure network. This implies that customers in these developing economies will turn to distributed networks rather than choosing grid-tied, thus presenting significant potential for BIPV products.
New constructions, renovations and renovations in the commercial and residential sectors are expected to drive the demand for BIPV products in the coming years. Technological advancements that improve efficiency and reduce silicon prices and hence BIPV costs are also expected to drive market progress in the foreseeable future.
BIPV companies are also eyeing opportunities in emerging markets such as Asia Pacificparticularly India for market expansion. In the future, building-integrated PV is expected to generate significant economic interest in the future development of the low-energy housing market, as well as in PV rooftop applications and curtain wall installations.
By application, segment of roofs to be reached $11.6 billion by 2026
Rooftops are one of the most common applications of BIPV systems. This is because roofs pitched at a specific angle are known to provide the best energy harvest. BIPV roof solutions use thin film technologies as well as C-Si technologies.
Although c-Si is the dominant technology, thin film technology is used where shading from trees or structures such as chimneys could reduce efficiency levels if c-Si panels are used . Thin-film technology is generally used only when crystalline modules cannot be used due to their rigidity and high weight, or when modules must be used on curved roofs.
The global Roofs (application) segment market is estimated at US$6.1 billion in 2020, and should reach US$11.6 billion by 2026 reflecting a compound annual growth rate of 12.0% over the analysis period.
Europe constitutes the largest regional market for the Roofs segment, accounting for 41.6% of global sales in 2020. China is poised to record the fastest compound annual growth rate of 15.7% over the analysis period, reaching US$3.1 billion at the end of the analysis period.
Main topics covered:
1. MARKET OVERVIEW
- Overview of the influencer market
- Global Market Trajectories
- With the COVID-19 pandemic crushing sentiment in the global construction industry, the BIPV market is expected to show a substantial decline in 2020
- COVID-19-induced supply chain disruptions weaken construction activity, reducing demand for BIPV solutions
- Weak global economic environment and negative tide in GDP forecast strongly discourage BIPV market
- Introduction to Building Integrated Photovoltaics (BIPV)
- An overview of BIPV technologies
- Efficiency of Cells and Modules of Commercial Photovoltaic Technologies: A Comparison
- Comparison between crystalline silicon and thin film technologies
- Comparison table of solar cell efficiencies for crystalline silicon and thin films with respect to temperature
- BIPV Applications
- Advantages and disadvantages of BIPV products in various applications
- As the “building envelope material” and “energy generator” of the new era, BIPV is poised to resume incremental gains in the post-COVID-19 environment
- Growth drivers in a nutshell
- Image of BIPV as a renewable, multifunctional and economically viable energy source for buildings to create future opportunities
- Developed countries dominate the market, developing economies spearhead future growth
- Analysis by type of technology
- C-Si: primary technology vertical in the BIPV field
- Thin film technology is poised to make robust gains
- Analysis by type of application
- Roofing remains the largest application segment for the BIPV market
- With solar shingles and roofing tiles gaining popularity, roofing is poised to cement its dominant position
- Glass emerges as a high growth application segment
- BIPV walls seek to expand addressable market
- Facades: niche application area
- Competitive scenario: BIPV market characterized by a high degree of fragmentation
- Recent market activity
- Glass Industry Players Seek Opportunities in Vertical BIPV
2. FOCUS ON CERTAIN PLAYERS (Total 104 featured)
- Ascent Solar Technologies, Inc.
- Canadian Solar, Inc.
- Greatcell Energy Limited
- Premier 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 Power Holding
- AGC Inc.
- BELECTRIC GmbH
- CertainTeed Company
- Ertex solartechnik GmbH
- Onyx Solar Energy SL
- Scheuten Glas Nederland BV
3. MARKET TRENDS AND DRIVERS
- Focus on energy efficient, green and LEED buildings creates a fertile environment for the BIPV market
- The relevance of zero-energy building construction bodes well for future growth
- Smart City, the new urban infrastructure model, to drive the next wave of BIPV market growth
- Sustained increase in global electricity demand creates a favorable scenario for wider adoption of BIPV solutions
- BIPV Market Set to Benefit from Growing Focus on Renewable Energy Sources
- Electricity generation targets from renewable energy sources in selected countries
- With the emergence of solar power as a reliable renewable energy source, BIPV anticipates parallel momentum
- Government involvement in increasing solar energy use is accelerating momentum in BIPV field
- Future prospects remain favorable in a context of population growth and urbanization
- Industrial sector: the largest revenue contributor
- Rapid growth expected in vertical commercial buildings
- BIPV solutions remain highly relevant in residential buildings
- In addition to new installations, strong growth opportunities exist for BIPV in the retrofit market
- Renovation opportunity in government, prestige and historic building verticals
- Technological advancements and product innovations are expanding the addressable market for BIPV solutions
- Advanced R&D Efforts Give Birth to BIPV-T Solar Rooftop Technology
- Colored photovoltaics continue to gain traction in BIPV R&D programs
- Custom photovoltaic systems are emerging as a new area of focus for R&D
- Brilliant PV modules Sonnenstromfabrik
- IRIG develops self-adjusting BIPV panels
- Meyer’s Burger’s SmartWire Connection Technology (SWCT)
- Metal Wrap Technology (MWT)
- Passivated Transmitter and Rear Cell Technology (PERC)
- Organic solar photovoltaic cells
- DysCrete building material
- solar fabric PV
- Perovskite materials
- An overview of BIPV-related standards and codes
- International Electrotechnical Commission (IEC) Standards
- Underwriters Laboratory (UL) Standards
- Obstacles and constraints to growth
4. GLOBAL MARKET OUTLOOK
III. REGIONAL MARKET ANALYSIS
For more information on this report, visit https://www.researchandmarkets.com/r/yrv8wm
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