The building-integrated photovoltaics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Building-integrated Photovoltaics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The building-integrated photovoltaics market size has grown exponentially in recent years. It will grow from $16.65 billion in 2023 to $20.81 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. The growth in the historic period can be attributed to increased environmental awareness and demand for sustainable building solutions, stricter building energy codes and green building certifications, urbanization and the need for space-efficient renewable energy generation, energy price volatility, and growing investment in research and development of bipv products.
The building-integrated photovoltaics market size is expected to see exponential growth in the next few years. It will grow to $48.44 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%. The growth in the forecast period can be attributed to rising electricity prices and grid resilience considerations, expansion of bipv applications beyond rooftops, growing demand for aesthetically pleasing and customizable bipv solutions, support from architectural and construction industries, and increasing environmental concerns. Major trends in the forecast period include integration of bipv into smart building and iot systems, advances in solar technology, partnerships between solar manufacturers, architects, and construction firms, net-zero energy and carbon-neutral building trends, and technological innovations in bipv materials and designs..
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing demand for zero-energy buildings is expected to fuel the growth of the building-integrated photovoltaics market going forward. Zero-energy buildings combine energy efficiency and renewable energy generation to consume only the amount of energy that can be produced onsite using renewable resources over a certain period of time. The global concern regarding the carbon emissions from buildings and buildings construction is the rising demand for zero-energy buildings. Building-integrated photovoltaics materials provide a reasonable option for building skins and help in achieving zero energy levels in buildings. For instance, in November 2022, according to United Nations Environment Programme, investments in building energy efficiency rose by 16% to reach USD 237 billion, but the expansion of floor space outstripped the progress in energy efficiency measures globally. The sector’s 2021 operational energy-related CO2emissions were up 5 per cent over 2020 and 2 per cent over the pre-pandemic peak in 2019. Therefore, the growing demand for zero-energy buildings will contribute to the growth of the building-integrated photovoltaics market.
Market Trends –
The favourable government initiatives to support the adoption of solar energy panel is promoting the growth of the building-integrated photovoltaics system market. Governments around the world are introducing initiatives and investments to support the clean energy transition and reduce the dependency on non-renewable energy sources, including coal and petroleum. Building-integrated photovoltaics systems are integrated into a building during construction and help to capture solar energy and convert it into electricity. For instance, in May 2021, The US Department of Energy (DOE) announced a slew of new initiatives, including $15.5 million in new funding, to assist underrepresented communities in adopting solar energy and developing a diverse and capable workforce. Hence, the supportive government initiatives to adopt solar panels will contribute to the growth of the building-integrated photovoltaics system market going forward.
The building-integrated photovoltaics market covered in this report is segmented –
1) By Product Type: Polyscrystaline, Thin-Film, Other Product Types
2) By Application: Roof, Facade, Glass, Other Applications
3) By End-User: Residential, Commercial, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the building-integrated photovoltaics market in 2023. The regions covered in the building-integrated photovoltaics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the building-integrated photovoltaics market include First Solar Inc., Sharp Corporation, Yingli Solar, Solar Frontier, SunPower Corporation, Hanwha Solar, Renewable Energy Corporation, Panasonic Corporation, Kyocera Document Solutions Company, Canadian Solar Inc., Suntech Power Holdings Co. Ltd., Harsha Abakus Solar Private Limited, Ascent Solar Technologies Inc., Greatcell Energy Limited, Global Solar Energy Inc., Hanergy Holding Group Ltd., Onyx Solar Energy S.L., ISSOL SA, Solarcentury Holdings Limited, Trina Solar Limited, Hanwha Q CELLS Co. Ltd., GAF Energy LLC, RGS Energy, NanoFlex Power Corporation, Tesla Inc., Jinko Solar Holding Co. Ltd., LG Electronics Inc., SolarWorld Americas Inc., Sanyo Electric Co. Ltd., Mitsubishi Electric Corporation, SolarCity Corporation, REC Solar Holdings AS, Enphase Energy Inc., SolarEdge Technologies Inc., SMA Solar Technology AG, ABB Ltd., Schneider Electric SE, Siemens AG, General Electric Company
Table of Contents
1. Executive Summary
2. Building-integrated Photovoltaics Market Report Structure
3. Building-integrated Photovoltaics Market Trends And Strategies
4. Building-integrated Photovoltaics Market – Macro Economic Scenario
5. Building-integrated Photovoltaics Market Size And Growth
…..
27. Building-integrated Photovoltaics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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