Demand for incessant supply of electricity to mining and oil & gas industries coupled with escalating need for electrification in emerging economies will bolster the growth of the global building integrated photovoltaics (BIPV) market.
Allied Market Research published a research report on the global building integrated photovoltaics (BIPV) market. The findings of the report state that the global market for building integrated photovoltaics (BIPV) 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 offers valuable information on changing market trends, key segments, key investment pockets, and the competitive landscape for market players, shareholders, investors, and new entrants.
The report offers an extensive analysis of drivers, restraints, and opportunities to help market players in determining strategies based on driving forces and tap into new opportunities. The demand for incessant supply of electricity to mining and oil & gas industries coupled with escalating need for electrification in emerging economies will bolster the growth of the global building integrated photovoltaics (BIPV) market. Nevertheless, strict laws related to emissions from fossil-fuel-driven devices can put brakes on the expansion of the global market. However, the launching of digital technology solutions for bringing an improvement in operations will open new growth opportunities for the global industry in the years ahead.
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The research provides detailed insights regarding the Covid-19 pandemic along with its impact on the building integrated photovoltaics (BIPV) market across the globe. The COVID-19 pandemic outbreak severely impacted the growth of the global building integrated photovoltaics (BIPV) market with the pandemic causing a lockdown and temporary closure of construction activities. Lockdown had severely impacted the production activities in China with key ship container firms halting operations and transportation of goods from the Chinese ports to other countries. In addition, disruption in supply chain activities led to a lack of raw material supply along with causing labor shortages across the globe. This, in turn, adversely affected the growth of the global market.
The report offers an extensive analysis of segments of the global building integrated photovoltaics (BIPV) market based on technology, application, end-use, and region. Based on technology, the crystalline silicon segment held the largest market share in 2020, contributing more than two-thirds of the global market share, and is expected to continue its domination during the forecast timeline. Moreover, this segment is estimated to register the fastest CAGR of 20.4% from 2021 to 2030. The report also analyzes the segments including thin film and others. Based on application, the roofs segment held the largest market share in 2020, accounting for about two-fifths of the overall market share, and is set to continue its numero uno position during the forecast timeline. However, the glass segment is set to record the fastest CAGR of 21.0% from 2021 to 2030.
The report offers a detailed analysis of regions. The European continent accounted for the highest market share in terms of revenue in 2020, contributing nearly two-fifths of the global market share. The segment is projected to continue its market domination even in 2030. However, North America is projected to record the highest CAGR of 20.7% during the forecast timespan.
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Major players of the global building integrated photovoltaics (BIPV) market analyzed in the research include AGC Solar, ISSOL SA, Belectric, Heliatek GmbH, Carmanah Technologies Corporation, Greatcell Solar Limited, Onyx Solar Energy S.L., Canadian Solar Inc., NanoPV Solar Inc., Ertex Solartechnik GmbH, BIPVco Limited, Solaxess, Hanergy Holding Group Limited, Tesla Inc., and Solaria Corporation.
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