According to the latest report by IMARC Group “Building Integrated Photovoltaics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global building integrated photovoltaics market size reached US$ 16.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2027, exhibiting a growth rate (CAGR) of 19.85% during 2022-2027.
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. Note: 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.
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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.
Breakup by Product Type
- Thin Film
Breakup by Application
Breakup by End Use
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
Competitive Landscape with Key Player:
- Ankara Solar AS
- Ertex Solartechnik GmbH
- Hanergy Holding Group Ltd
- Hermans Techniglaz
- ISSOL sa
- Navitas Green Solutions Pvt. Ltd
- NanoPV Solar Inc.
- Sphelar Power Corporation
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