IMARC Group, a leading market research company, has released a report titled “Building Integrated Photovoltaics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global building integrated photovoltaics market size reached US$ 19.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.8 Billion by 2028, exhibiting a growth rate (CAGR) of 19.65% during 2023-2028.

Building-integrated photovoltaics (BIPVs) are solar power-generating components employed in constructing the facades, roofs, and skylights of buildings. These components typically include a backup power supply system, a charge controller, a power storage system, photovoltaic modules, and other supporting hardware. They have several advantages: zero emissions, high energy conservation, superior architectural integration, onsite power generation, and optimal shading. Additionally, they can reduce labour and installation costs by replacing high-end roof membranes, skylight glazing, and façade cladding. As a result, building-integrated photovoltaic materials are widely adopted in commercial, residential, and industrial sectors across the globe.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/building-integrated-photovoltaics-market/requestsample

Building Integrated Photovoltaics Market Trends and Drivers:

The market is primarily driven by the increasing demand for building integrated photovoltaic materials. This can be attributed to the integration of solar energy solutions in commercial infrastructures for architectural optimization and energy conservation. In addition, the growing environmental concerns about the depletion of non-renewable power resources, such as oil and coal, and the increasing focus on clean energy and zero-emission buildings are contributing to the market growth. In line with this, the escalating demand for building-integrated photovoltaics due to the surging need for incorporated roof systems in industrial and commercial establishments is influencing the market growth. Moreover, the implementation of favourable government policies to minimize greenhouse gas (GHG) emissions and financial support for building-integrated photovoltaics (BIPVs) represent another major growth-inducing factor. Besides this, several improvements in the manufacturing technology of thin film BIPV modules and the increasing efficiency of the product are accelerating the product adoption rate. Along with this, continuous technological advancements such as dye-sensitized cells (DSC) and organic photovoltaics (BIOPV) providing superior energy bandgap are providing a positive thrust to the market growth. Apart from this, building-integrated photovoltaics (BIPVs) are growing at different rates in numerous regions, with Europe being one of the largest building-integrated photovoltaics (BIPVs) market due to the rising awareness regarding the benefits of building-integrated photovoltaics (BIPVs) among individuals, and favourable initiatives by the government to promote the adoption of BIPVs across the region.

Moreover, the industry is fragmented and is expected to face extreme competition in the coming years as various key players are implementing competitive strategies to sustain their presence in the market. For instance, in January 2020, NanoFlex Power Corporation (NFP), a company that specializes in the development of high-efficiency photovoltaic power generation, collaborated with True Metal Solutions (TMS), a fabricator of building cladding for the development of a business focused on organic photovoltaic (OPV) thin-film materials with cladding for building facades. Moreover, in October 2021, Meyer Burger, a Swiss manufacturer of PV modules, acquired the rights to expand its business into building-integrated photovoltaic (BIPV) systems. The company planned to offer in-roof solar systems and showcased its first self-produced solar tiles at the Smarter E Europe fair held in 2021. Furthermore, the growing consumer awareness of the ecological benefits of BIPVs, infrastructural developments, optimum grid-parity of photovoltaic solutions, the introduction of automated BIPV components, and rising investments in research and development (R&D) activities for advanced module technologies are creating positive market outlook across the globe.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product Type

• Polycrystalline
• Thin Film
• Other

Breakup by Application

• Roof
• Facades
• Glass
• Other

Breakup by End Use

• Commercial
• Residential
• Industrial

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• Ankara Solar AS
• Ertex Solartechnik GmbH
• Hanergy Holding Group Ltd.
• HermansTechniglaz
• ISSOL sa
• Navitas Green Solutions Pvt. Ltd.
• NanoPV Solar Inc.
• Polysolar Ltd.
• Sphelar Power Corporation
• VIASOLIS

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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