According to the latest report by IMARC Group “Building Integrated Photovoltaics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global building integrated photovoltaics market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 18% during 2021-2026.
Building integrated photovoltaics (BIPVs) refer to solar power generating systems used in the construction of facades, roofs, and skylights. These systems involve components, such as photovoltaic (PV) modules, charge controller, backup power supply system, and power storage system, to provide buildings with thermal insulation. As compared to their traditional counterparts, BIPVs offer zero emission of harmful gases, onsite power generation, minimizes electricity costs, and provides superior architectural design. On account of these benefits, these systems are widely installed across the commercial, residential, and industrial sectors.
Market Trends:
Growing environmental concerns and rapid depletion of non-renewable power resources have led to an increase in the demand for BIPV materials, which is majorly driving the market growth. This is further supported by favorable policies implemented by governments of various nations to promote the adoption of BIPVs across several industries. Additionally, rising infrastructural development projects in emerging economies is acting as another growth-inducing factor. Apart from this, technological advancements in the construction industry, such as the development of automated BIPV components integrated with wireless connectivity, are creating a positive outlook for the market.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Building Integrated Photovoltaics Market Coverage and Segmentation 2021-2026:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ankara Solar AS
- Ertex Solartechnik GmbH
- Hanergy Holding Group Ltd
- Hermans Techniglaz, ISSOL sa
- Navitas Green Solutions Pvt. Ltd
- NanoPV Solar Inc.
- Polysolar
- Sphelar Power Corporation
- VIASOLIS
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Product Type
- Polycrystalline
- Thin Film
- Other
Breakup by Application
- Roof
- Facades
- Glass
- Other
Breakup by End Use
- Commercial
- Residential
- Industrial
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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