Global Building Integrated Photovoltaics Market to Grow at 16.6% During 2024-2032, Bolstered by Favorable Government Policies

June 08, 2021 | Chemical & Materials

According to the latest report by IMARC Group, titled “Building Integrated Photovoltaics Market Report by Product Type (Polycrystalline, Thin Film, and Others), Application (Roof, Facades, Glass, and Others), End Use (Commercial, Residential, Industrial), and Region 2024-2032,” the global building integrated photovoltaics market is expected to grow at a CAGR of 16.6% during 2024-2032. 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.

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.

Market Summary:

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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Application, End Use, Region
Region Covered	Europe, North America, Asia Pacific, Middle East and Africa, Latin America
Companies Covered	Ankara Solar AS, Ertex Solartechnik GmbH, Hanergy Holding Group Ltd., HermansTechniglaz, ISSOL sa, Navitas Green Solutions Pvt. Ltd., NanoPV Solar Inc., Polysolar Ltd., Sphelar Power Corporation and VIASOLIS
Customization Scope	10% Free Customization
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Global Building Integrated Photovoltaics Market to Grow at 16.6% During 2024-2032, Bolstered by Favorable Government Policies

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