Building-Integrated Photovoltaics Market: Explosive Growth Expected by 2032

Building-Integrated Photovoltaics Market

The building-integrated photovoltaics market is anticipated to expand at a 21% value CAGR from 2022 to 2032. This market’s estimated global market size in 2021 was $16.5 billion, and by 2032, it is projected to have grown significantly to a total of $134.31 billion.

Building-integrated Due to the rapid expansion of PV (photovoltaic) capacity across many nations and the surge in demand for renewable energy, the photovoltaics industry is predicted to grow quickly.

Countries that have voluntarily adopted the Kyoto Protocol, a plan to reduce greenhouse gas emissions, include Italy, Germany, France, the United States, China, Japan, and India. Significant factors include good government policy, increased public knowledge of energy security, and self-sufficiency.

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Key Takeaways from the Market Study  

  • In 2021, the market was estimated to have a global valuation of US$ 16.5 Billion.  
  • In 2022, the market is estimated to have a global market size of US$ 19.97 Billion 
  • The building-integrated photovoltaics market in Europe occupied a market share of 37.68% in 2021.  
  • The crystalline silicon segment took over 72% of the global building-integrated photovoltaics market share.  
  • Nearly 62% of building-integrated photovoltaics sales to be for roof applications 
  • As of 2021, the industrial segment accounted for 40.5% of the global market. 

“With strict regulations towards the green building movement and the increasing demand from eco-conscious consumers, the demand for Building-integrated Photovoltaics is increasing globally at a rapid pace. This is also being supported by various government regulations to promote the use for enhanced sustainability and better energy efficiency. New technological development in this field is sure to open up new avenues for the manufacturers in the future,” 

Competitive Landscape  

As a way to gain more market penetration and meet the changing needs of architects and construction contractors, Building-integrated Photovoltaics manufacturers have developed multiple joint ventures, partnerships, agreements, and collaborations.  

  • In October 2021, Meyer Burger, a Swiss manufacturer of PV modules, began offering BIPV systems. Meyer Burger will offer rooftop solar power systems.  
  • In 2021, Onyx Solar, a Spanish producer of BIPV solar systems, installed approximately 3,250 crystalline solar modules on the facade of Sterling Bank’s Nigerian headquarters.  
  • In September 2021, China Southeast Space Frame Group (SSFG) and First PV formed a joint venture to install 950 MW of solar PV in China over the next five years.  

Key Players

  • SolarWindow Technologies, Inc.
  • Hanergy Mobile
  • AGC Inc.
  • Energy Holding Group Limited
  • The Solaria Corporation
  • Carmanah Technologies Corp.
  • Heliatek GmbH,
  • Greatcell
  • BELECTRIC
  • Tesla
  • ertex solartechnik GmbH

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Key Segments Covered In The Building-Integrated Photovoltaics Market Report

Building-integrated Photovoltaics Market by Technology:

  • Thin Film Building-integrated Photovoltaics
  • Crystalline Silicon Building-integrated Photovoltaics
  • Other Building-integrated Photovoltaics Technology

Building-integrated Photovoltaics Market by Application Type:

  • Building-integrated Photovoltaics for Roofs
  • Building-integrated Photovoltaics for Walls
  • Building-integrated Photovoltaics for Façades
  • Building-integrated Photovoltaics for Glass
  • Building-integrated Photovoltaics for Other Applications

Building-integrated Photovoltaics Market by End-User:

  • Industrial Building-integrated Photovoltaics
  • Residential Building-integrated Photovoltaics
  • Commercial Building-integrated Photovoltaics

Building-integrated Photovoltaics Market by Region:

  • North American Building-integrated Photovoltaics Market
  • Europe Building-integrated Photovoltaics Market
  • Asia Pacific Building-integrated Photovoltaics Market
  • Middle East & African Building-integrated Photovoltaics Market
  • Latin America Building-integrated Photovoltaics Market

Future Market Insights (FMI), an ESCOMAR certified market research and consulting firm, has published an in-depth report on the Building-Integrated Photovoltaics (BIPV) Market. The report predicts a promising future for the BIPV market, with a surge in global revenue in the coming years. It explores the top regions contributing to market growth, key players and their market share, driving factors, and challenges faced by the industry. The study emphasizes the significant role of BIPV in sustainable energy solutions and highlights opportunities for businesses seeking to invest in this dynamic sector.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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