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

  • ID: 3275703
  • Report
  • April 2021
  • Region: Global
  • 605 pages
  • Global Industry Analysts, Inc
Focus Will Be Shed on Resilient Smart Cities & Buildings in the Future. BiPV to Reach $23.3 Billion by 2027

The global market for Building Integrated Photovoltaics (BiPV)is projected to reach US$23.3 billion by the year 2027, trailing a CAGR of 12.4% over the analysis period 2020 through 2027.Demand for BIPV materials is broadly linked to the growth of construction and infrastructure development as well as renovation activities across the world. The state of the construction industry in each geographic region, both new constructions as well as refurbishments, has a heavy bearing on the demand for BiPV materials. With the global construction industry facing severe challenges amidst the COVID-19 pandemic, demand for building integrated photovoltaics (BiPV) is expected to decline in the 2020. The significant disruption caused to materials supplies, labor shortage, and rising cost of construction projects are all affecting growth outlook for the BiPV market. The lockdowns, quarantines, and travel restrictions in place around the world are affecting prospects in residential, commercial and industrial construction sectors, whereby the supplies of materials, equipment and labor is affected. With the short term economic outlook being bleak in view of the continuous surge in COVID-19 cases around the world, there will be significant impact on construction investments, while delays or cancellations are likely in planned new build as well as retrofit projects. Investments in new construction projects will also be impacted considerably. The weakening economy and rising unemployment levels are expected to significantly impact the construction activity. Public spending on infrastructure projects is also likely to be impacted, as governments allocate funds for management of COVID-19 pandemic. With residential, commercial and industrial construction activity under severe stress due to the health crisis, the market for BiPV materials is also poised to be impacted in 2020 and 2021.

Smart buildings are important in creating economic development opportunities. Not surprisingly in the post pandemic period, smart buildings will emerge to be a rich source of revenues for building-integrated photovoltaics (BiPV). Smart buildings are all about maximizing building efficiency & BiPV is an important component of this concept. The rush to turn residential & commercial buildings into smart buildings will be greater post Covid-19 & beyond, as sustainability & safety become top priority for a pandemic scarred world focused on resilience. The scenario bodes well for long-term growth in the market. Also expected to influence growth during this period will be the emphasis on energy-efficient, green, LEED buildings. 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. 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.

Since its first adoption in few government constructions, green building has evolved to become a global phenomenon, and transformed from a niche space to a mainstream concept. Rising awareness about environmental conservation and the adoption of government mandates and voluntary standards are fostering growth in green buildings, and hence driving up demand for a wide range of Green/LEED building technologies and techniques, including BIPV, energy-efficient residential windows and lighting, smart-window coatings, green roofing, solar-thermal and rain water recycling, among others. BIPV is more promising most of the other Green/LEED technologies due to their electricity-generating prowess and enhanced energy efficiency of the building. In particular, architects are displaying greater interest in building integrated PV, due to the emphasis on saving costs by increasing energy efficiency and for aesthetic benefits. Further, the higher occupancy rates of rental buildings with Green/LEED appeal and substantial operational savings achieved by building owners is encouraging the shift towards Green/LEED building, thereby stimulating investment in BIPV refurbishment works. Against this backdrop, demand for BIPV systems will expand in the coming years. Development of renewable energies, specifically solar photovoltaic is one area that will regain focus among governments across the world to deal with rapid depletion of conventional resources. The European Union (EU)has already set the target of achieving approximately 20% renewable energy by 2020 and announced mandates pertaining to nearly zero-energy buildings, in an effort to curb CO2 emissions. All new buildings are required to be carbon neutral, and new public buildings are required to comply with the regulations. Building-integrated renewable energy will therefore gain popularity for ensuring reliable supply of power, while reducing carbon footprint.

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.
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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
  • Exhibit 1: World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Introduction to Building Integrated Photovoltaics (BIPV)
  • An Insight into BIPV Technologies
  • Exhibit 2: Cell and Module Efficiency of Commercial PV Technologies: A Comparison
  • Comparison between Crystalline Silicon and Thin Film Technologies
  • Exhibit 3: 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
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
  • Exhibit 4: Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • Exhibit 5: Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • Exhibit 6: 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
  • Exhibit 7: 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
  • Exhibit 8: Targets for Electricity Production from Renewable Energy Sources in Select Countries
  • Exhibit 9: Leading Countries with Renewable Energy as % of total Energy
  • Exhibit 10: 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
  • Exhibit 11: Top 10 Countries Worldwide by Annual PV Installed Capacity (2019)
  • Exhibit 12: 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
  • Exhibit 13: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Exhibit 14: 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
  • 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
  • Exhibit 15: Key Indicators for US Residential Construction Market
  • Exhibit 16: New Privately-Owned Housing Units (in ‘000) Authorized in Permit-Issuing Places, and Completed
  • CANADA
  • JAPAN
  • CHINA
  • Market Overview
  • Focus on Building Energy Conservation to Drive Market Growth Post COVID-19 Pandemic
  • EUROPE
  • Europe: The Largest BIPV Market
  • Need to Reduce Energy Consumption Drives Demand for BIPV Products
  • Exhibit 17: 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
  • Exhibit 18: Price Comparison of BIPV Roofing Solutions, Traditional Roofing Materials and In-Roof Mounting System in Europe
  • Exhibit 19: 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
  • Exhibit 20: Renovation Rate of Residential Buildings (%) in Select Countries across the EU
  • Restraining Factors
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Escalating Energy Demand: A Major Growth Factor for BIPV
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • An Overview
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 104
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