Building Integrated Photovoltaic (BIVP) Market

Building Integrated Photovoltaic (BIVP) Market Outlook (2022-2032)

The global building integrated photovoltaic (BIVP) market is currently valued at US$ 16.1 billion and is projected to surge to US$ 88.6 billion by the end of 2032. Fact.MR predicts that worldwide demand for building integrated photovoltaics will increase at a stellar CAGR of 18.1% through 2032.

Increasing focus on sustainability has boosted the integration of renewable energy systems in infrastructure and stringent mandates to conserve the environment will fuel building integrated photovoltaic demand over the coming years.

Report Attributes	Details
BIVP Market Size (2022E)	US$ 16.1 Billion
Forecasted Market Value (2032F)	US$ 88.6 Billion
Global Market Growth Rate (2022-2032)	18.1% CAGR
North America Market Share (2022)	28%
Europe Market Share (2022)	32.6%
Key Companies Profiled	Scheuten Solar Holding First Solar Ertex Solar Suntech Power Holdings Heliatek Sharp Ascent Solar Technology Centrosolar Dyesol Trina Solar Yingli Green Energy Holding

Building Integrated Photovoltaic Demand Analysis (2017-2021) in Comparison to Market Forecasts (2022-2032)

The world has witnessed a prominent increase in focus on sustainability owing to the climate emergency and increasing global warming. Governments across the world are imposing strict laws to regulate environmental safety and this is expected to boost building integrated photovoltaic market potential over the coming years.

Increasing popularity of solar energy systems, supportive government initiatives to adopt renewable energy resources, increasing investments in research and development of novel integrated photovoltaics, rising consumer awareness for clean energy, and increasing demand for smart infrastructure development are prime factors that propel building integrated photovoltaic shipments.

However, high costs of implementation are anticipated to have a constraining effect on the overall consumption of building integrated photovoltaics throughout the forecast period.

The BIVP market is projected to witness evolution at an astronomical CAGR of 18.1% from 2022 to 2032.

What’s Augmenting Building Integrated Photovoltaic Demand?

“Supportive Government Initiatives Promoting Adoption of Renewable Energy”

Governments across the world are implementing stringent mandates to conserve the environment and are promoting the adoption of renewable by providing incentives to consumers and companies as well.

• For instance, the government of France offers a high feed-in tariff for electricity generated via photovoltaic components that are integrated into buildings.

Such favorable initiatives by various governments across the world are expected to positively influence the demand for building integrated photovoltaic.

How Can New Entrants Make a Mark in the BIVP Marketplace?

“New Companies Should Focus on Innovation to Enhance their Revenue Generation Potential”

• SunDrive, an Australian startup that created the most efficient commercial-sized silicon solar cell, has also fabricated the cell and is one step closer to commercializing the technology. The company is aiming to optimistically compete with big players in the market and will be eyeing the Asian market with the commercialization of its new solar cells.

Start-ups can focus on bringing such novel solutions and disrupt the market and improve their presence. Advancements in the efficiency of solar energy generation systems are expected to be a key area where new companies can focus their research and development over the coming years.

Supportive government initiatives to advance the adoption of renewable energy resources are anticipated to provide incentives for new entrants that could help them advance their research.

What is the Regional Outlook of the Building Integrated Photovoltaic Market?

“Consumption of Building Integrated Photovoltaics Highest in Europe”

The Europe building integrated photovoltaic market is projected to emerge as a highly rewarding one in the global landscape. At present, building integrated photovoltaic market in Europe accounts for a dominant market share of 32.6% and holds a valuation of US$ 5.24 billion. The rising focus on sustainability and stringent mandates to conserve the environment is expected to be leading factors that drive building integrated photovoltaic market growth in this region.

The BIVP market in North America stands at a valuation of US$ 4.5 billion in 2022 and accounts for a prominent market share of 28%. Increasing construction activity and high demand for aesthetically appealing solar energy systems for buildings are expected to drive building integrated photovoltaic market growth in this region. The United States and Canada are projected to be the most notable markets in this region.

Increasing efforts by the government to promote the adoption of sustainable solutions in China and Japan are expected to primarily drive BIVP market growth in the Asian region. In 2022, China building integrated photovoltaic market stands at a valuation of US$ 2.89 billion and holds a market share of 18% in the global landscape.

This latest building integrated photovoltaic market survey by Fact.MR, a market research and competitive intelligence provider, is equipped with a complete regional as well as segmental analysis to provide a complete market overview.

Which End-use Industry Leads Demand for Building Integrated Photovoltaics?

“Industrial End Use Accounts for Major Market Share”

The BIPV market, based on end use, is segmented into industrial, commercial, and residential.

The industrial segment is projected to lead consumption of building integrated photovoltaics across the forecast period. Increasing demand for building integrated photovoltaics to minimize reliance on non-renewable energy resources.

Stringent mandates to ensure sustainability by governments across the world are also expected to propel sales of BIPV transparent solar panels and other integrated photovoltaics over the coming years.

Competitive Landscape

Building integrated photovoltaic manufacturers are focusing on launching new and innovative products to maximize their sales potential and gain a competitive edge over other market players in the global landscape.

• In April 2022, Risen Energy, a China-based solar module manufacturer, announced the launch of its new BIPV products. The new lineup is claimed to be more environment-friendly and has an improved energy generation performance than the previous lineup.

Key Segments of Building Integrated Photovoltaic Industry Research

• By Technology :

  • Crystalline Silicon
    • Multicrytalline Silicon
    • Monocrystalline Silicon
  • Thin Films
    • Dye-sensitized Solar Cells
    • Copper Indium Gallium Selenide
    • Organic Photovoltaic
    • Amorphous Silicon
    • Cadmium Telluride
  • Others

• By Application :

  • Roofs
  • Walls
  • Glass
  • Facades
  • Others

• By End Use :

  • Residential
  • Commercial
  • Industrial

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA