The global building-integrated photovoltaics market size is expected to reach USD 36.74
billion by 2025, according to a new report by Grand View Research, Inc. It is
projected to expand at a CAGR of 18.8% from 2019 to 2025. Favorable rules and
regulations to enhance renewable installations will drive the demand. In
addition, policy tools such as financial incentives for BIPV installations will
propel the growth.
Increasing adoption of renewable energy
sources which help maintain the aesthetic appeal of buildings is likely to
boost the demand for building-integrated photovoltaics over the forecast
period. In addition, rise in awareness regarding energy sustainability and
self-sufficiency among the consumers in various countries is projected to
propel the growth of integrated installations over the next seven years.
Demand for integrated rooftop PV
installations is expected to increase over the forecast period as these are one
of the simplest installations. In addition, favorable policies and regulations
supporting net-metering for renewable power sources in countries such as India,
France, U.S., U.K., and Spain will result to boost the demand for roof-top
solar installations in residential as well as commercial establishments over
the forecast period.
Thin-film technology is expected to expand
at a CAGR of over 20% from 2018 to 2025 due to better aesthetic appeal
showcased by thin film technology in comparison to the Crystalline-silicon
(C-Si) technology.
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https://www.grandviewresearch.com/industry-analysis/building-integrated-photovoltaics-bipv-market
https://www.grandviewresearch.com/industry-analysis/building-integrated-photovoltaics-bipv-market
Further key findings from the report suggest:
· Roof-mount photovoltaics held the largest
market share of over 60% in terms of revenue in 2018
· Building-integrated photovoltaics glass is
projected to emerge as the fastest growing application category for BIPV
installations. The segment is estimated to reach a net global market worth
exceeding USD 6.90 billion by 2025
· Improved aesthetic appeal due to its
transparent nature along with significant technological advancements in glass
integrated installations is expected to drive the glass segment over the
forecast period
· Industrial segment led the global BIPV
market due to efforts made by various manufacturers to limit their reliance on
conventional sources and increase their adoption of greener sources of power
generation
· Asia Pacific is expected to witness the
highest CAGR of 20.6% over the forecast period to reach a net worth exceeding
USD 8.30 billion by 2025
· Some of the major players operating in the
global building-integrated photovoltaics market comprise AGC Solar, BIPV Ltd.,
Belectric Holding GmbH, and Heliatek GmbH. The companies are utilizing merger
and acquisition strategy to enhance their global reach
Grand View Research has segmented the
global Building-integrated Photovoltaics market on the basis of technology,
application, end use, and region:
BIPV Technology Outlook (Revenue, USD
Million, 2014 - 2025)
·
C-Si
·
Thin Film
·
Others
BIPV Application Outlook (Revenue, USD
Million, 2014 - 2025)
·
Roofs
·
Walls
·
Glass
·
Façade
·
Others
BIPV End Use Outlook (Revenue, USD Million,
2014 - 2025)
·
Residential
·
Commercial
·
Industrial
BIPV Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America (CSA)
·
Middle East & Africa (MEA)
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
