Building Integrated Photovoltaics (BIPV) Market to Receive Overwhelming Hike in Revenues By 2030

Building Integrated Photovoltaics (BIPV) Market

Building Integrated Photovoltaics (BIPV) Market is Expected to Reach $86.7 Billion by 2030

PORTLAND, OREGON, UNITED STATES, February 16, 2023 /EINPresswire.com/ -- The global building integrated photovoltaics market was valued at $14.0 billion in 2020 and is projected to reach $86.7 billion by 2030, growing at a CAGR of 20.1% from 2021 to 2030. Building-integrated photovoltaics (BIPVs) refers to solar power-generating components that are used in constructing facades, roofs, and skylights in buildings. Generally, these components include the integration of photovoltaic modules, a backup power supply system, a charge controller, a power storage system, and other supporting hardware. BIPV materials offer several benefits over their traditional counterparts as they provide onsite power generation, zero emissions, high energy conservation, superior architectural integration, and optimal shading. In addition, BIPVs also help in reducing labor and installation costs by replacing high-end roof membranes, skylight glazing, and façade cladding.

Get a PDF brochure for Industrial Insights and Business Intelligence @ https://www.alliedmarketresearch.com/request-sample/187

The global demand for building integrated photovoltaics market is primarily driven by an increase in efforts by national governments the installation of solar energy panels. A rise in awareness regarding green infrastructure, including buildings with energy efficiency, is expected to boost demand for building-integrated photovoltaics (BIPV). BIPV provides a sustainable and effective solution for enhancing the energy efficiency of a structure, retrofitting the exterior of a structure, and providing significant savings in conventional power consumption. In addition, a rise in the implementation of supportive government regulations including financial benefits and incentives to promote green infrastructure, and a rise in investments in the solar industry across the globe is expected to increase solar energy integration in residential and commercial sectors during the forecast period. However, the high initial costs of investments are expected to hamper the building integrated photovoltaics market growth during the forecast period. Furthermore, heat generation from BIPV modules is expected to provide growth opportunities for the global market during the forecast period.

By technology, the global building integrated photovoltaics market size is studied across crystalline silicon, thin film, and others. The crystalline silicon segment accounted for the largest market share in 2020, owing to its superior resistance to adverse weather conditions and high strength. The crystalline silicon segment dominated the global building integrated photovoltaics market, with more than two-thirds of the total market share in 2020.

By application, the global building integrated photovoltaics market is studied across roofs, walls, glass, façade, and others. The roof segment accounted for the largest market share in 2020, owing to the availability of a larger panel installation area for BIPV. The roof segment dominated the global market with one-third of the total market share in 2020.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/187

By end-use, the global building integrated photovoltaics market is studied across residential, commercial, and industrial. The commercial segment emerged as the leader in 2020, owing to the increasing awareness of zero-emission green infrastructure. BIPV installations improve the aesthetic appeal of commercial establishments and provide major savings on electricity consumption, thereby driving product deployment across the commercial segment. The commercial segment dominated the global building integrated photovoltaics market with more than half of the total market share in 2020.

Region-wise, the global building integrated photovoltaics market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe emerged as the leader in 2020, owing to the European Commission's supportive directives in the form of financial incentives, such as subsidies on photovoltaic integration. Europe accounted for a major building integrated photovoltaics market share in 2020 and dominated the global market with more than one-third of the total market share in 2020.

The major players studied and profiled in the global building integrated photovoltaics market are AGC Solar, Belectric, Heliatek GmbH, Carmanah Technologies Corporation, Greatcell Solar Limited, Hanergy Holding Group Limited, Ertex Solartechnik GmbH, Canadian Solar Inc., Tesla Inc., and Solaria Corporation.

Procure Complete Report @ https://www.alliedmarketresearch.com/checkout-final/bc80e105bd0fda94ab19bd01d3129ed7?utm_source=AMR&utm_medium=research&utm_campaign=P21776

Key findings of the study

- In 2020, Europe dominated the global building integrated photovoltaics market with around 39.8% share, in terms of revenue.
- North America is projected to grow at the highest CAGR of 20.7% in terms of revenue.
- The crystalline silicon segment dominated the global building integrated photovoltaics market with around 70.0% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 20.4% in terms of revenue.
- The roof segment dominated the global building integrated photovoltaics market with around 38.7% of the share in terms of revenue.
- The glass segment is projected to grow at the highest CAGR of 21.0% in terms of revenue.
- The commercial segment dominated the global building integrated photovoltaics market with around 53.8% of the share in terms of revenue.
- The residential segment is projected to grow at the highest CAGR of 20.7% in terms of revenue.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
+ +1 503-894-6022
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.