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Building Integrated Photovoltaics (BIPV) - Global Market Trajectory & Analytics

  • ID: 3275703
  • Report
  • February 2022
  • Region: Global
  • 605 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • AGC Inc.
  • Canadian Solar, Inc.
  • Ertex solartechnik GmbH
  • Global Solar Energy, Inc.
  • Hanwha Q CELLS Co., Ltd.
  • Onyx Solar Energy S.L.

Global Building Integrated Photovoltaics (BiPV) Market to Reach $20.1 Billion by 2026


Building Integrated Photovoltaics (BIPV) refers to the use of solar panels, shingles and modules for generating electricity in a building, wherein the panels are integrated into roof tiles, facades, awnings, windows, and other building components. BIPV is essentially a new age building material that can be used as replacement of conventional building materials. For instance, in a BIPV project spandrel glass (in arch spaces), skylights, or roofing materials will be substituted with architecturally equivalent PV modules, thereby performing dual function of constructing roof membrane and power generator. Integrated photovoltaic arrays in the buildings are being used as an ancillary or principal source of electricity in many domestic and industrial buildings. BIPV systems are fixed to a utility grid and can be designed as both standalone and off-grid systems. Grid-connected BIPV system supplies power to onsite production facility, which is larger at the time of a building`s peak loads. Peak shaving and demand-side-management (DSM) capabilities deliver energy cost savings.

Amid the COVID-19 crisis, the global market for Building Integrated Photovoltaics (BiPV) estimated at US$10.3 Billion in the year 2020, is projected to reach a revised size of US$20.1 Billion by 2026, growing at a CAGR of 12.4% over the analysis period. C-Si, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$16.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 13.6% CAGR for the next 7-year period.



The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $4.1 Billion by 2026


The Building Integrated Photovoltaics (BiPV) market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.

A confluence of factors is expected to drive growth in the market in the post COVID-19 period, including the declining cost per watt; enhanced aesthetics of BIPV; improving efficiency of c-Si modules as well as flexible thin-film panels; and unabated desire among residential and commercial building owners to 'go green'. In the post COVID-19 period, BIPV adoption will be driven by anticipated rise in the construction activity in countries such as the US. In addition, there is also promise for BIPV technology adoption in developing economies such as China, India, Africa, and Latin America, which not only lack the infrastructure required for enabling traditional solar installations but also do not have the adequate grid infrastructure network. This implies that customers in such developing economies will move to distributed networks rather than choose the grid linked network, thus presenting significant potential for BIPV products. New constructions, retrofits and refurbishment works in both commercial and residential sectors are expected to drive demand for BIPV products in the coming years. Advancements in technology that enhance efficiency as well as reduce silicon prices and thus BIPV costs is also expected to fare well for the market`s progress in the foreseeable future. BIPV companies are also eyeing opportunities in emerging markets such as Asia-Pacific, particularly India for market expansion. Going forwards, building integrated PV is expected to generate significant economic interest in the future development of the low-energy housing market, and in PV roof applications and curtain wall installations.

By Application, Roofs Segment to Reach $11.6 Billion by 2026


Roofs are one of the most common applications of BIPV systems. This is because of the fact that pitched roofs at a specific angle are known to offer best energy harvesting. BIPV roof solutions make use of thin film as well as C-Si technologies. While c-Si is the dominant technology, thin film technology finds use in case of shading caused by trees or structures such as chimneys that could lower efficiency levels if c-Si panels are used. Thin film technology is typically used only when crystalline modules cannot be used owing to their rigidity and heavy weight, or when the modules are required to be used on curved roofs. Global market for Roofs (Application) segment is estimated at US$6.1 Billion in 2020, and is projected to reach US$11.6 Billion by 2026 reflecting a compounded annual growth rate of 12.0% over the analysis period. Europe constitutes the largest regional market for Roofs segment, accounting for 41.6% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 15.7% over the analysis period, to reach US$3.1 Billion by the end of the analysis period.

Select Competitors (Total 104 Featured) -

  • Ascent Solar Technologies, Inc.
  • Canadian Solar, Inc.
  • Greatcell Energy Limited
  • First Solar, Inc.
  • Hanergy Holding Group Ltd.
  • Global Solar Energy, Inc.
  • Hanwha Q CELLS Co., Ltd.
  • Heliatek GmbH
  • Sharp Corporation
  • Trina Solar
  • Wuxi Suntech Power Co., Ltd.
  • Yingli Green Energy Holding
  • AGC Inc.
  • BELECTRIC GmbH
  • CertainTeed Corporation
  • Ertex solartechnik GmbH
  • Onyx Solar Energy S.L.
  • Romag
  • Scheuten Glas Nederland B.V.
Frequently Asked Questions about the Global Market for Building Integrated Photovoltaics (BiPV)

What is the estimated value of the Global Market for Building Integrated Photovoltaics (BiPV)?

The Global Market for Building Integrated Photovoltaics (BiPV) was estimated to be valued at $10.3 Billion in 2020.

What is the growth rate of the Global Market for Building Integrated Photovoltaics (BiPV)?

The growth rate of the Global Market for Building Integrated Photovoltaics (BiPV) is 11.8%, with an estimated value of $20.1 Billion by 2026.

What is the forecasted size of the Global Market for Building Integrated Photovoltaics (BiPV)?

The Global Market for Building Integrated Photovoltaics (BiPV) is estimated to be worth $20.1 Billion by 2026.

Who are the key companies in the Global Market for Building Integrated Photovoltaics (BiPV)?

Key companies in the Global Market for Building Integrated Photovoltaics (BiPV) include Ascent Solar Technologies, Inc., Canadian Solar, Inc., Greatcell Energy Limited, First Solar, Inc., Hanergy Holding Group Ltd., Global Solar Energy, Inc., Hanwha Q CELLS Co., Ltd., Heliatek GmbH and Trina Solar.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AGC Inc.
  • Canadian Solar, Inc.
  • Ertex solartechnik GmbH
  • Global Solar Energy, Inc.
  • Hanwha Q CELLS Co., Ltd.
  • Onyx Solar Energy S.L.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • With COVID-19 Pandemic Crushing the Sentiment in the World Construction Sector, BIPV Market Set to Exhibit Substantial Decline in 2020
  • COVID-19 Induced Supply Chain Disruptions Weaken Construction Activity, Curtailing Demand for BIPV Solutions
  • Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Strongly Discourage BIPV Market
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Introduction to Building Integrated Photovoltaics (BIPV)
  • An Insight into BIPV Technologies
  • Cell and Module Efficiency of Commercial PV Technologies: A Comparison
  • Comparison between Crystalline Silicon and Thin Film Technologies
  • Comparison Chart of Solar Cell Efficiencies for Crystalline Silicon and Thin Films with respect to Temperature
  • BIPV Applications
  • Merits & Demerits of BIPV Products in Various Applications
  • As the New Age ‘Building Envelope Material’ and ‘Power Generator’, BIPV Set to Resume Progressive Gains in Post COVID-19 Environment
  • Growth Drivers in a Nutshell
  • Image of BIPV as an Economically Viable, Multifunctional, Renewable Energy Source for Buildings to Stir Future Opportunities
  • Developed Countries Lead Market, Developing Economies to Spearhead Future Growth
  • Analysis by Technology Type
  • C-Si: Primary Technology Vertical in the BIPV Domain
  • Thin Film Technology Set to Make Robust Gains
  • Analysis by Application Type
  • Roofing Remains the Largest Application Segment for BIPV Market
  • With Solar Roofing Shingles & Tiles Gaining Popularity, Roofing Set to Solidify its Dominant Position
  • Glass Emerges as High Growth Application Segment
  • BIPV Walls Seek to Widen Addressable Market
  • Façades: Niche Application Area
  • Competitive Scenario: BIPV Market Characterized by High Degree of Fragmentation
  • Recent Market Activity
  • Glass Industry Players Seek Opportunities in BIPV Vertical
  • Building Integrated Photovoltaics (BiPV) – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Emphasis on Energy-Efficient, Green, LEED Buildings Builds Fertile Environment for BIPV Market
  • Relevance of Zero Energy Building Constructions Bodes Well for Future Growth
  • Smart City, the New Urban Infrastructure Model, to Steer Next Wave of Growth in BIPV Market
  • Sustained Rise in Global Electricity Demand Creates Conducive Scenario for Wider Uptake of BIPV Solutions
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
  • Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
  • BIPV Market Stands to Gain from Growing Focus on Renewable Energy Sources
  • Targets for Electricity Production from Renewable Energy Sources in Select Countries
  • Leading Countries with Renewable Energy as % of total Energy
  • Global CO2 Emissions (2015. 2020, 2040 & 2050): Percentage Breakdown of Volume Emissions by Fuel Type
  • With Solar Energy Emerging as Reliable Renewable, BIPV Anticipates Parallel Momentum
  • Top 10 Countries Worldwide by Annual PV Installed Capacity (2019)
  • Top 10 Countries Worldwide by Cumulative PV Installed Capacity in in GW (2019)
  • Government Participation in Boosting Solar Energy Uptake Elevates Momentum in BIPV Domain
  • Future Prospects Remain Favorable Amid Growing Population & Urbanization Drive
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
  • Industrial Sector: Largest Revenue Contributor
  • Fast Paced Growth Anticipated in Commercial Buildings Vertical
  • BIPV Solutions Remain Highly Relevant in Residential Buildings
  • Besides New Installations, High-Growth Opportunities Exist for BIPV in Retrofit Market
  • Retrofit Opportunity in Government, Prestige, & Historic Buildings Verticals
  • Technology Advancements & Product Innovations Widen Addressable Market for BIPV Solutions
  • Advanced R&D Efforts Bring Forth BIPV-T Solar Roofing Technology
  • Colored Photovoltaic Continue to Gain Traction in BIPV R&D Programs
  • Customized PV Systems Emerge as New R&D Focus Area
  • Sonnenstromfabrik Brilliant PV Modules
  • IRIG Develops Self-Adjusting BIPV Panels
  • Meyer Burger’s SmartWire Connection Technology (SWCT)
  • Metal Wrap Through (MWT) Technology
  • Passivated Emitter and Rear Cell (PERC) Technology
  • Organic Solar PV Cells
  • DysCrete Building Material
  • Solar Cloth PVs
  • Perovskite Materials
  • Select Innovations in the Photovoltaic Panels Market: 2020
  • A Glance at BIPV-Related Standards & Codes
  • International Electrotechnical Commission (IEC) Standards
  • Underwriters Laboratory (UL) Standards
  • Growth Barriers & Restraints

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Commercial Availability of Aesthetically-Pleasing Solutions Marks Swift Adoption of BiPV
  • Trend towards Green Constructions and LEED Certification to Favor Growth Post COVID-19 Pandemic
  • Net Zero Building: The Trend to Watch Out for
  • COVID-19-led Construction Slowdown Defuses Enthusiasm Surrounding California’s Solar Mandate
  • COVID-19 Impact on Housing Market
  • Housing Projects Scenario
  • Key Indicators for US Residential Construction Market
  • New Privately-Owned Housing Units (in ‘000) Authorized in Permit-Issuing Places, and Completed

CANADA

JAPAN

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Focus on Building Energy Conservation to Drive Market Growth Post COVID-19 Pandemic

EUROPE

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Europe: The Largest BIPV Market
  • Need to Reduce Energy Consumption Drives Demand for BIPV Products
  • Energy Consumption in EU28 (2017): Percentage Breakdown of Energy Demand by Sector
  • BiPV Drives EU Energy Market towards Renewable and Decentralized System
  • BIPV Product Pricing Impacts Technology Adoption
  • Price Comparison of BIPV Roofing Solutions, Traditional Roofing Materials and In-Roof Mounting System in Europe
  • Price Comparison of BIPV Façade Solutions and Traditional Façade Materials in Europe
  • Favorable Policy Framework to Stimulate Adoption of BIPV Systems
  • Influx of Advanced Solutions to Drive Uptake of BIPV Technology
  • European Companies Seek Newer PV Materials
  • Renovation Market Offer Ample Opportunities for BIPV Products
  • Renovation Rate of Residential Buildings (%) in Select Countries across the EU
  • Restraining Factors

FRANCE

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Escalating Energy Demand: A Major Growth Factor for BIPV

AUSTRALIA

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • An Overview

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Building Integrated Photovoltaics (BiPV) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 104
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Ascent Solar Technologies, Inc.
  • Canadian Solar, Inc.
  • Greatcell Energy Limited
  • First Solar, Inc.
  • Hanergy Holding Group Ltd.
  • Global Solar Energy, Inc.
  • Hanwha Q CELLS Co., Ltd.
  • Heliatek GmbH
  • Sharp Corporation
  • Trina Solar
  • Wuxi Suntech Power Co., Ltd.
  • Yingli Green Energy Holding
  • AGC Inc.
  • BELECTRIC GmbH
  • CertainTeed Corporation
  • Ertex solartechnik GmbH
  • Onyx Solar Energy S.L.
  • Romag
  • Scheuten Glas Nederland B.V.
Note: Product cover images may vary from those shown