Global Building Integrated Photovoltaics (BiPV) Market Report 2021: Emphasis on Energy-Efficient, Green, LEED Buildings Builds Fertile Environment for BIPV Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 20, 2021--
The “Building Integrated Photovoltaics (BiPV) - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Building Integrated Photovoltaics (BiPV) Market to Reach $23.3 Billion by 2027
Amid the COVID-19 crisis, the global market for Building Integrated Photovoltaics (BiPV) estimated at US$10.3 Billion in the year 2020, is projected to reach a revised size of US$23.3 Billion by 2027, growing at a CAGR of 12.4% over the analysis period 2020-2027.
C-Si, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$16.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 13.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 16.2% CAGR
The Building Integrated Photovoltaics (BiPV) market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2027 trailing a CAGR of 16.2% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.
Other Technologies Segment to Record 10% CAGR
In the global Other Technologies segment, USA, Canada, Japan, China and Europe will drive the 9.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$772.8 Million in the year 2020 will reach a projected size of US$1.5 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.8 Billion by the year 2027, while Latin America will expand at a 10.5% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- With COVID-19 Pandemic Crushing the Sentiment in the World Construction Sector, BIPV Market Set to Exhibit Substantial Decline in 2020
- COVID-19 Induced Supply Chain Disruptions Weaken Construction Activity, Curtailing Demand for BIPV Solutions
- Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Strongly Discourage BIPV Market
- Introduction to Building Integrated Photovoltaics (BIPV)
- An Insight into BIPV Technologies
- Comparison between Crystalline Silicon and Thin Film Technologies
- BIPV Applications
- Merits & Demerits of BIPV Products in Various Applications
- As the New Age ‘Building Envelope Material’ and ‘Power Generator’, BIPV Set to Resume Progressive Gains in Post COVID-19 Environment
- Growth Drivers in a Nutshell
- Image of BIPV as an Economically Viable, Multifunctional, Renewable Energy Source for Buildings to Stir Future Opportunities
- Developed Countries Lead Market, Developing Economies to Spearhead Future Growth
- Analysis by Technology Type
- C-Si: Primary Technology Vertical in the BIPV Domain
- Thin Film Technology Set to Make Robust Gains
- Analysis by Application Type
- Roofing Remains the Largest Application Segment for BIPV Market
- With Solar Roofing Shingles & Tiles Gaining Popularity, Roofing Set to Solidify its Dominant Position
- Glass Emerges as High Growth Application Segment
- BIPV Walls Seek to Widen Addressable Market
- Facades: Niche Application Area
- Competitive Scenario: BIPV Market Characterized by High Degree of Fragmentation
- Recent Market Activity
- Glass Industry Players Seek Opportunities in BIPV Vertical
2. FOCUS ON SELECT PLAYERS (Total 104 Featured)
- Ascent Solar Technologies, Inc.
- Canadian Solar, Inc.
- Greatcell Energy Limited
- First Solar, Inc.
- Hanergy Holding Group Ltd.
- Global Solar Energy, Inc.
- Hanwha Q CELLS Co., Ltd.
- Heliatek GmbH
- Sharp Corporation
- Trina Solar
- Wuxi Suntech Power Co., Ltd.
- Yingli Green Energy Holding
- AGC Inc.
- BELECTRIC GmbH
- CertainTeed Corporation
- Ertex solartechnik GmbH
- Onyx Solar Energy S.L.
- Scheuten Glas Nederland B.V.
3. MARKET TRENDS & DRIVERS
- Emphasis on Energy-Efficient, Green, LEED Buildings Builds Fertile Environment for BIPV Market
- Relevance of Zero Energy Building Constructions Bodes Well for Future Growth
- Smart City, the New Urban Infrastructure Model, to Steer Next Wave of Growth in BIPV Market
- Sustained Rise in Global Electricity Demand Creates Conducive Scenario for Wider Uptake of BIPV Solutions
- BIPV Market Stands to Gain from Growing Focus on Renewable Energy Sources
- With Solar Energy Emerging as Reliable Renewable, BIPV Anticipates Parallel Momentum
- Government Participation in Boosting Solar Energy Uptake Elevates Momentum in BIPV Domain
- Future Prospects Remain Favorable Amid Growing Population & Urbanization Drive
- Industrial Sector: Largest Revenue Contributor
- Fast Paced Growth Anticipated in Commercial Buildings Vertical
- BIPV Solutions Remain Highly Relevant in Residential Buildings
- Besides New Installations, High-Growth Opportunities Exist for BIPV in Retrofit Market
- Retrofit Opportunity in Government, Prestige, & Historic Buildings Verticals
- Technology Advancements & Product Innovations Widen Addressable Market for BIPV Solutions
- Advanced R&D Efforts Bring Forth BIPV-T Solar Roofing Technology
- Colored Photovoltaic Continue to Gain Traction in BIPV R&D Programs
- Customized PV Systems Emerge as New R&D Focus Area
- Sonnenstromfabrik Brilliant PV Modules
- IRIG Develops Self-Adjusting BIPV Panels
- Meyer Burger’s SmartWire Connection Technology (SWCT)
- Metal Wrap Through (MWT) Technology
- Passivated Emitter and Rear Cell (PERC) Technology
- Organic Solar PV Cells
- DysCrete Building Material
- Solar Cloth PVs
- Perovskite Materials
- Select Innovations in the Photovoltaic Panels Market: 2020
- A Glance at BIPV-Related Standards & Codes
- International Electrotechnical Commission (IEC) Standards
- Underwriters Laboratory (UL) Standards
- Growth Barriers & Restraints
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/gm8coc
View source version on businesswire.com:https://www.businesswire.com/news/home/20210820005115/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: OTHER ENERGY ENERGY
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 08/20/2021 05:44 AM/DISC: 08/20/2021 05:44 AM