Building Integrated Photovoltaics (BIPV) Market - Global Industry Analysis, Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2021 to 2030

The global building integrated photovoltaics market size was valued at USD 15 billion in 2021 and is expected to hit USD 86 billion by 2030, poised to grow at a CAGR of 20% from 2021 to 2030.

Building-integrated photovoltaics are photovoltaic materials, which are used as substitutes to certain conventional building materials. They are used in building parts, which include roof, skylights, and facades. Building-integrated photovoltaics is also known as solar panels, which are incorporated into the construction sector. It offers different categories such as thin-film solar panels, flexible thin-film solar panels, thin-film or crystalline based solar panels, and semi-transparent solar panels. BIPV is currently one of the rapidly expanding segments of the global solar PV industry.

Rise in demand for building integrated photovoltaic materials can be attributed to increase in integration of solar energy solutions in commercial infrastructures for architectural optimization and energy conservation. Moreover, growth in environmental concerns toward depleting non-renewable power resources, such as oil and coal further propel demand for solar power generation. In addition, rapid modernization in the construction and building sector along with increase in focus on clean energy has led to rise in demand for green or zero-emission buildings. Furthermore, rise in consumer awareness toward several ecological benefits of BIPV has resulted in rise in adoption of solar energy harnessing systems in the residential sector. Apart from this, implementation of favorable government policies supported by several initiatives for promoting the need for reducing carbon footprints have also catalyzed demand for building-integrated photovoltaics on a global level. Furthermore, rise in demand for BIPV components in developed regions, such as North America and Europe, is primarily driven by supporting infrastructural developments in the form of optimum grid-parity of photovoltaic solutions supported by several financial incentives offered by regional governments. On the other hand, several emerging economies, such as India, China, and Vietnam are experiencing high product demand due to reduced solar installation costs and wide availability of BIPV materials across these countries. Moreover, various technological advancements, coupled with rise in penetration of wireless connectivity have led to introduction of automated BIPV components, which propels the building integrated photovoltaics market growth. In addition, rise in investments in several R&D activities for superior integration of advanced module technologies also propel the product demand.

However, high initial cost of investments is expected to hamper growth of the building integrated photovoltaics market during the forecast period. Furthermore, heat generation from BIPV modules is expected to provide growth opportunities for the building integrated photovoltaics market during the forecast period.

Citing an instance, in June 2020, European researchers from the Interdisciplinary Research Institute of Grenoble developed solar PV panels with changing colors that can automatically adjust to the intensity of light and the temperature level of buildings with glass exteriors and huge windows. The mini modules have a 3.68% efficiency rating and a 14 sq.cm. area, reducing costs of PV panel production significantly. Such innovations in solar technology will continue to enhance the overall BIPV (building integrated photovoltaic) industry remuneration scope.  

COVID-19 analysis:

The building integrated photovoltaics market is expected to decline in 2020, mainly due to the impact of COVID-19. Governments of several major economies have enforced lockdowns to curb the spread of COVID-19. With lockdown in place, manufacturing activities have been affected significantly. For instance, in January 2020, the Chinese government announced a lockdown of more than 30 days to tackle COVID-19. As the majority of the PV modules are manufactured in China, the production and supply chain has taken a significant hit. For instance, India imports ~80% of its solar value chain supplies from China.

Lockdown had drastically affected manufacturing capacity of China as all major ship container companies had also stopped functioning out of Chinese ports and transporting goods from China to other countries.

This resulted in supply chain disruptions in March and April 2020. In addition, lockdown implemented in other countries caused supply chain disruptions and labor shortages in the PV industry. Companies were not able to source the required labor for their operations due to travel restrictions. Though the market is expected to be impacted in 2020, recovery is expected to commence in 2021, with full recovery by 2022.

Market By Region

As per expert analysts, Europe BIPV (building integrated photovoltaic) market accounts for a significant part of the overall share and is likely to showcase consistent growth throughout 2021-2027. Rise in customer inclination to adopt green practices due to increasingly stringent environmental regulations, in line with rising pressure to reduce net energy consumption from buildings to minimize CO2 emissions is favoring the regional market expansion.

Meanwhile, North America captured substantial market share in the recent past, with the U.S. and Canada majorly contributing to the revenue growth in the region. This can be ascribed to favorable laws and standards that foster the expansion of BIPV installations across industrial and commercial enterprises in the region.

Market By Technology

The crystalline silicon segment accounted for a major share in the building integrated photovoltaics market in 2020, which is attributed to its superior resistance to adverse weather conditions and high strength. The global market is expected to be driven primarily by declining price of crystalline silicon cells, which, in turn, is expected to lower installation cost during the forecast period.

Market, By Application

The roof segment accounted for a major share in the building integrated photovoltaics market in 2020, owing to the availability of a larger panel installation area for BIPV. Countries such as the U.S., the UK, Germany, and France are expected to witness increased demand for roof installations in the residential sector. In addition, growing deployment of energy storage systems is expected to facilitate demand for off-grid solar PV systems during the forecast period.

Market, By End-use

The commercial segment accounted for a major building integrated photovoltaics market share in 2020 owing to the increasing awareness about zero-emission green infrastructure. BIPV installations improve the aesthetic appeal of commercial establishments and provide major savings on electricity consumption, thereby driving the product deployment across the commercial segment.

Key Players

The major key players operating in the global building integrated photovoltaics industry include 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. Other players operating in this building integrated photovoltaics market include ISSOL SA, Onyx Solar Energy S.L., NanoPV Solar Inc., BIPVco Limited, and Solaxess.

Market Segmentation

The Building Integrated Photovoltaics (BIPV) market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Building Integrated Photovoltaics (BIPV) market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Building Integrated Photovoltaics (BIPV) market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Building Integrated Photovoltaics (BIPV) market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Building Integrated Photovoltaics (BIPV) market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Building Integrated Photovoltaics (BIPV) capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Building Integrated Photovoltaics (BIPV) by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Building Integrated Photovoltaics (BIPV) market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Building Integrated Photovoltaics (BIPV) market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Building Integrated Photovoltaics (BIPV) market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Building Integrated Photovoltaics (BIPV) industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Building Integrated Photovoltaics (BIPV) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Building Integrated Photovoltaics (BIPV) market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Building Integrated Photovoltaics (BIPV) market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Building Integrated Photovoltaics (BIPV) market. These factors have benefited the growth of the global market for Building Integrated Photovoltaics (BIPV). Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Building Integrated Photovoltaics (BIPV). The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Building Integrated Photovoltaics (BIPV) are as follows:

• History Year: 2016-2019
• Base Year: 2019
• Estimated Year: 2020
• Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.