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)?
What is the growth rate of the Global Market for Building Integrated Photovoltaics (BiPV)?
What is the forecasted size of the Global Market for Building Integrated Photovoltaics (BiPV)?
Who are the key companies in the Global Market for Building Integrated Photovoltaics (BiPV)?
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
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
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