According to the report published by Allied Market Research, the global building integrated photovoltaics market generated $14.0 billion in 2020, and is projected to reach $86.7 billion by 2030, witnessing a CAGR of 20.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Demand for continuous power supply from mining and oil & gas industries and rise in need for electrification and continuous power supply in developing regions drive the growth of the global building integrated photovoltaics (BIPV) market. However, strict regulations pertaining to emission reduction in fossil fuel-powered equipment restrains the market to some extent. On the other hand, advent of digital technology solutions for operations enhancement presents new opportunities in the upcoming years.
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The report offers detailed segmentation of the global building integrated photovoltaics market based on technology, application, end use, and region.
Based on technology, the crystalline silicon segment held the highest market share in 2020, holding more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 20.4% from 2021 to 2030.
Based on application, the roofs segment held the largest market share in 2020, holding nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the glass segment is projected to register the highest CAGR of 21.0% from 2021 to 2030.
By end-use, the global BIPV market is studied across residential, commercial, and industrial. The commercial segment emerged as the leader in 2020, owing to the increasing awareness about zero-emission green infrastructure. BIPV installations improve the aesthetic appeal of commercial establishments and provide major savings on electricity consumption, thereby driving the product deployment across the commercial segment. The commercial segment dominated the global building integrated photovoltaics market with more than half of the total market share in 2020.
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Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding around two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, North America is projected to manifest the fastest CAGR of 20.7% during the forecast period.
Leading players of the global building integrated photovoltaics market analyzed in the research include AGC Solar, Belectric, Heliatek GmbH, Carmanah Technologies Corporation, Greatcell Solar Limited, Hanergy Holding Group Limited, Ertex Solartechnik GmbH, Canadian Solar Inc., Tesla Inc., and Solaria Corporation. Other players operating in this building integrated photovoltaics market include ISSOL SA, Onyx Solar Energy S.L., NanoPV Solar Inc., BIPVco Limited, and Solaxess.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to the global lockdown and temporary closure of construction industries, thereby adversely affected the global building integrated photovoltaics market.
- Lockdown had drastically affected manufacturing capacity of China as all major ship container companies had also stopped functioning out of Chinese ports and transporting goods from China to other countries.
- It further disrupted the whole supply chain, leading to difficulty in supply of raw materials and caused labor shortage. This, in turn, affected the market demand and reduced sales. Nevertheless, the market is anticipated to recover soon by the end of 2022.
Key findings of the study
- In 2020, Europe dominated the global building integrated photovoltaics market with around 39.8% share, in terms of revenue.
- North America is projected to grow at the highest CAGR of 20.7% in terms of revenue.
- The crystalline silicon segment dominated the global building integrated photovoltaics market with around 70.0% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 20.4% in terms of revenue.
- The roof segment dominated the global building integrated photovoltaics market with around 38.7% of the share in terms of revenue.
- The glass segment is projected to grow at the highest CAGR of 21.0% in terms of revenue.
- The commercial segment dominated the global building integrated photovoltaics market with around 53.8% of the share in terms of revenue.
- The residential segment is projected to grow at the highest CAGR of 20.7% in terms of revenue.
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.