Building-integrated Photovoltaics Industry Overview
The global building-integrated photovoltaics market size is expected to reach USD 88.38 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.5% from 2022 to 2030. The rapid expansion of the solar photovoltaic (PV) installation capacities of different countries, coupled with increasing demand for renewable energy sources, is expected to drive the growth of the market across the world. The rising consumer awareness coupled with the product’s superior performance over the last decade has primarily driven the market for building-integrated photovoltaics (BIPV).
Building-integrated Photovoltaics Market Segmentation
Grand View Research has segmented the global BIPV market based on technology, application, end-use, and region:
Based on the Technology Insights, the market is segmented into Crystalline Silicon, Thin Film, Others.
- The crystalline silicon segment led the market and accounted for 71.02% of the global revenue share in 2021. Crystalline silicon cells can be integrated into building roofs by using smart mounting systems, which replace the sections of the roof while keeping its integrity intact.
- Crystalline silicon has the highest energy conversion efficiency at present; commercial modules typically convert 13%-21% of the incident sunlight into electricity.
- The thin film held a share of 22.05% in the global BIPV market in 2021. The thin-film BIPV market is expected to witness sustained growth over the forecast period due to rapid technological advancements leading to the introduction of advanced products.
- Other technology segment includes advanced integrated photovoltaic manufacturing technologies such as dye-sensitized cells (DSC) and organic photovoltaics (BIOPV). The demand is expected to be driven by the superior energy bandgap of organic photovoltaics.
Based on the Application Insights, the market is segmented into Roof, Glass, Wall, Facade, Others.
- The roof installation segment led the market and accounted for the largest revenue share of more than 61.46% in 2021. The roof segment will maintain its lead throughout the forecast period. Photovoltaics integrated with building roofs are known to exhibit efficiency due to improved incidence of light on the roof surface.
- The market is anticipated to have a steady growth in all segments as the demand for BIPV increases. The superior efficiency of solar walls due to strong incident sunlight is expected to drive the demand for BIPV in walls over the forecast period.
- BIPV facades experience high demand, primarily in the developed economies that have a well-established electricity distribution system. The demand for the integration of photovoltaics with facades is driven by their increasing installation in the commercial sector.
- Glass integrations are expected to grow on account of the high transparency of integrated systems coupled with superior integration of glass and BIPV cells. The development of photovoltaic materials with high absorption is expected to propel the product demand over the forecast period.
- The others application segment includes shading and membranes. The demand for such products is high in residential installations due to the development of lightweight materials for use on uneven surfaces.
Based on the End-use Insights, the market is segmented into Industrial, Commercial, Residential.
- The industrial segment led the market in 2021 and accounted for 40.13% market share. The demand for building-integrated photovoltaics in industrial applications is expected to be fueled by their growing usage to reduce reliance on non-renewable energy sources.
- The demand for building-integrated photovoltaics in commercial establishments is likely to be fueled by the growing number of retrofit projects using these installations. The high emphasis on the aesthetic appeal of solar energy-harnessing systems, primarily in commercial establishments, is likely to fuel the product demand in this sector.
- The demand for building-integrated photovoltaics in the residential sector is expected to be driven over the forecast period owing to increasing awareness regarding the use of renewable sources of energy for electricity generation among consumers.
Building-integrated Photovoltaics Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
BIPV manufacturers have been implementing various strategies such as new product developments, partnerships, joint ventures, agreements, and collaborations, among others, to maximize their market penetration and to cater to the changing requirements of the architects and construction contractors.
Some prominent players in the global building-integrated photovoltaics market include
- SolarWindow Technologies, Inc.
- AGC Inc.
- Hanergy Mobile Energy Holding Group Limited
- The Solaria Corporation
- Heliatek GmbH,
- Carmanah Technologies Corp.
- Greatcell
- Tesla
- BELECTRIC
- ertex solartechnik GmbH
Order a free sample PDF of the Building-integrated Photovoltaics Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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