Building-Integrated Photovoltaics Global Market Sees Growth Rate Of 26% Through 2022

The global building-integrated photovoltaics market size is expected to grow from $10.31 billion in 2021 to $13.00 billion in 2022 at a compound annual growth rate (CAGR) of 26.1%. The building-integrated photovoltaics market size is expected to reach $30.65 billion in 2026 at a CAGR of 23.9%.

What is the Global Building-Integrated Photovoltaics Market?

The building-integrated photovoltaics market consists of sales of building-integrated photovoltaics products (BIPV) by entities (organizations, sole traders, and partnerships) that refer to solar energy generating products that are perfectly integrated into the building envelope and are a part of building components such as facades, roofs, and windows. Building-Integrated Photovoltaics (BIPV) serve two main purposes, they act as the building structure's exterior layer while also generating power for on-site usage or export to the grid. This system can save money on materials and electricity, reduce pollution, and increase the architectural appeal of a building. BIPV systems are often introduced in between the development phase of a building or deployed within the course of a rebuild of an existing building when one of the wrap components is important to get replaced.

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What drives the Global Building-Integrated Photovoltaics Market?

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 rising the 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, according to New Buildings Institute (NBI) 2020 report, the demand for zero energy buildings in the United States and Canada is increasing at an exponential rate. The number of zero energy and zero waste buildings had nearly doubled to 700, and the total square footage of zero-energy buildings has exceeded 62 million square feet in 2020. Therefore, the growing demand for zero energy buildings will contribute to the building-integrated photovoltaics market growth.

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Global Building-Integrated Photovoltaics Market Segments
The global building-integrated photovoltaics market is segmented:
By Product Type: Polyscrystaline, Thin-Film, Other Product Types
By Application: Roof, Facade, Glass, Other Applications
By End-User: Residential, Commercial, Industrial
By Geography: The regions covered in the building-integrated photovoltaics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Building-Integrated Photovoltaics Global Market Report 2022provides market size and growth forecasts for the global building-integrated photovoltaics market, global building-integrated photovoltaics market share, building-integrated photovoltaics market segments and geographies, building-integrated photovoltaics market competitive landscape including leading competitors’ revenues, profiles and market shares. The building-integrated photovoltaics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Building-Integrated Photovoltaics Industry Playersinclude First Solar Inc., Sharp Corporation, Yingli Solar, Solar Frontier, SunPower Corporation, Hanwha Solar, Renewable Energy Corporation (REC), Panasonic, Kyocera Document Solutions Company, Canadian Solar Inc, Suntech Power Holdings Co. Ltd., Harsha Abakus Solar Private Limited, Ascent Solar Technologies Inc., Greatcell Energy Limited, and Global Solar Energy Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.