According to the latest report by IMARC Group, titled “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. Building-integrated photovoltaics (BIPVs) refer to dual-purpose materials used in building roofs, skylights, and facades. Also known as solar panels, BIPVs serve as the outer layer of a structure and generate electricity for on-site use and exporting to the grid. In recent years, BIPVs have gained traction as they help reduce the incremental cost of PV systems and eliminate the costs and design issues for separate mounting systems by integrating them in the initial construction phase.
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 Trends:
The global building integrated photovoltaics market is primarily driven by the increasing environmental awareness toward the various benefits offered by BIPVs. These systems provide savings in material and electricity costs, as well as help reduce pollution. They enhance the architectural appeal of the building, as they can be employed to camouflage unattractive and degraded building exteriors. Governments of different nations are adopting initiatives to promote energy conservation and implement BIPVs in housing, commercial, and industrial infrastructures. In addition to this, there have been several technological advancements, such as the introduction of automated BIPVs components. Furthermore, the integration of solar energy solutions for energy conservation is providing a positive impact on the market growth. Looking forward, the market value is expected to grow at a CAGR of around 18% during the forecast period (2021-2026).
- Based on the product type, the market has been segmented into polycrystalline, thin film, and others.
- On the basis of the application, the market has been classified into roof, facades, glass, and others.
- The market has been categorized based on the end use into commercial, residential, and industrial sectors.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Ankara Solar AS, ErtexSolartechnik GmbH, Hanergy Holding Group Ltd, HermansTechniglaz, ISSOL SA, Navitas Green Solutions Pvt. Ltd, NanoPV Solar Inc., Polysolar Ltd., Sphelar Power Corporation and VIASOLIS.
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