Building-integrated Photovoltaics Market

Global Building-integrated Photovoltaics Market Report: By Technology (Crystalline Silicon, Thin Film and Others), Application (Roof, Glass, Wall, Facade and Others), End-use (Industrial, Commercial and Residential), and Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Manufacturing & Construction | February 2024 | Report ID: EMR00607 | Pages: 301

Global Building-integrated Photovoltaics market is predicted to reach approximately USD 74.35 billion by 2032, at a CAGR of 18.35% from 2024 to 2032.

The BIPV market has witnessed significant growth owing to the increasing global emphasis on sustainable energy solutions and the drive towards green building practices. BIPV systems not only generate clean electricity but also serve architectural functions, blending aesthetics with functionality.

The integration of solar cells into building materials such as roofs, facades, and windows offers dual benefits of energy production and architectural enhancement. As urbanization accelerates and environmental concerns escalate, BIPV emerges as a promising solution to meet the energy demands of buildings while reducing carbon footprint.

The market encompasses a diverse range of technologies, including thin-film solar cells, crystalline silicon modules, and organic photovoltaics, catering to various architectural requirements and energy needs. Key market players are actively investing in research and development to enhance the efficiency, durability, and aesthetics of BIPV systems, driving technological advancements and market expansion. Government initiatives, subsidies, and favourable regulatory frameworks further stimulate market growth by incentivizing the adoption of BIPV solutions in both residential and commercial sectors.

 

 

Global Building-integrated Photovoltaics report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 16.32 billion

Projected Market Value (2032)

USD 74.35 billion

Base Year

2023

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Technology, By Application, By End-Use, & Region.

Segments Covered

By Technology, By Application, By End-Use, & By Region.

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Building-integrated Photovoltaics dynamics

BIPV and other sustainable energy solutions are in high demand due to rising environmental consciousness and strict regulations aimed at lowering carbon emissions. The market is significantly boosted as governments around the world enact policies to encourage the adoption of renewable energy and promote green building practices. Furthermore, BIPV technology advancements address critical performance and integration concerns to drive market growth through enhanced efficiency, durability, and aesthetic appeal. Further driving market expansion are growing energy costs and the need for energy independence, which encourage consumers, both residential and commercial, to investigate alternative energy sources.

However, the BIPV market encounters challenges stemming from factors such as high initial costs, limited awareness, and integration complexities. The upfront investment required for BIPV installations remains a deterrent for some consumers despite long-term cost savings and environmental benefits. Moreover, integrating BIPV systems seamlessly into existing infrastructure poses technical challenges, necessitating specialized expertise and architectural considerations. Furthermore, market fragmentation and the presence of numerous technology providers contribute to variations in product quality, standards, and compatibility, complicating decision-making processes for consumers.

 

Global Building-integrated Photovoltaics drivers

  • Government Incentives and Regulatory Support:

Regulatory frameworks and government initiatives are key factors in the adoption of building-integrated photovoltaics (BIPV). Financial incentives, tax credits, and subsidies are provided by numerous governments worldwide to promote the installation of BIPV systems. By reducing the upfront high costs of BIPV installations, these incentives help make them more affordable for both residential and commercial users. Regulations requiring energy-efficient building construction standards also encourage the use of BIPV technologies. The market for BIPV is anticipated to grow as long as governments continue to place a high priority on sustainability and renewable energy, which will benefit producers and installers.

  • Technological Advancements and Cost Reduction Efforts:

Constant innovation and technological progress in BIPV enhances the effectiveness, resilience, and attractiveness of BIPV systems. Building-Integrated Concentrating Photovoltaics (BICPV), thin-film solar cells, and transparent solar panels are examples of innovations that increase the applicability and versatility of BIPV solutions across a range of architectural styles and building materials. In addition, continuous R&D endeavours concentrate on diminishing production expenses and enhancing installation methodologies, rendering BIPV a more formidable contender in comparison to conventional construction materials. For developers, architects, and homeowners looking for sustainable energy solutions, BIPV is becoming a more alluring option as technology advances lower costs and improve performance. The growing sophistication and efficiency of BIPV systems position them as integral components of future green buildings and smart cities, driving market growth and innovation.

 

Restraints:

  • High Initial Costs and Return on Investment Concerns:

The high initial cost of installation is one of the main obstacles preventing BIPV from being widely adopted. Although BIPV systems can result in long-term financial savings by lowering energy bills and possibly generating income from surplus electricity produced, many consumers are still put off by the initial costs. Furthermore, some businesses and homeowners are discouraged from investing in BIPV due to concerns about the payback period and ROI, particularly in areas with lower electricity prices and fewer financial incentives. In order to remove these financial obstacles and increase the affordability and accessibility of BIPV for a larger range of consumers, creative financing solutions like power purchase agreements and solar leasing are needed.

  • Integration and Compatibility Challenges:

Integrating BIPV systems seamlessly into existing building infrastructure poses technical challenges related to compatibility, design constraints, and installation complexity. Architects and developers must consider various factors such as building orientation, shading, structural support, and electrical connections when incorporating BIPV into construction projects. Achieving optimal integration without compromising architectural aesthetics and building functionality requires specialized expertise and coordination among multiple stakeholders. Moreover, the diversity of BIPV technologies and manufacturers contributes to compatibility issues and interoperability concerns, limiting product choices and complicating decision-making processes for consumers. Addressing these integration challenges necessitates standardization efforts, enhanced collaboration among industry stakeholders, and the development of modular BIPV solutions that can be easily customized and integrated into different building designs and environments.

 

Opportunities:

  • Innovation in Material Science and Design:

Advancements in material science, nanotechnology, and design innovation present exciting opportunities for enhancing the performance, efficiency, and aesthetics of BIPV systems. Research into novel materials such as perovskite solar cells, quantum dots, and organic photovoltaics holds promise for developing next-generation BIPV solutions that are lightweight, flexible, and highly efficient. These materials offer opportunities to integrate solar cells into a wider range of building components, including flexible solar films, textiles, and coatings, expanding the scope of BIPV applications beyond traditional rooftops and facades. Furthermore, advances in building-integrated energy storage technologies enable BIPV systems to store excess energy for later use, enhancing grid resilience and enabling greater energy independence for buildings.

 

Segment Overview

  • By Technology:

BIPV systems leverage various technologies for solar energy conversion, including crystalline silicon, thin-film, and other emerging technologies. Crystalline silicon modules are the most common and widely deployed technology in BIPV installations due to their high efficiency and reliability. Thin-film technologies offer advantages such as flexibility and lightweight construction, making them suitable for integration into diverse building materials. Emerging technologies like perovskite solar cells and organic photovoltaics hold promise for further enhancing the efficiency and versatility of BIPV systems.

  • By Application:

BIPV systems can be integrated into different building components, including roofs, windows, walls, facades, and other architectural elements. Rooftop installations represent a significant application segment, where solar panels are seamlessly integrated into building roofs to generate electricity while providing weather protection. Window-integrated BIPV solutions allow natural light penetration while harnessing solar energy, offering dual functionality. BIPV facades and walls serve both aesthetic and functional purposes, contributing to building energy efficiency and design flexibility.

  • By End-use:

The BIPV market caters to various end-use sectors, including industrial, commercial, and residential buildings. Industrial facilities integrate BIPV systems into roofs and facades to offset energy consumption and reduce operational costs while demonstrating corporate sustainability initiatives. Commercial buildings, such as offices, malls, and educational institutions, utilize BIPV solutions to enhance energy efficiency, comply with green building certifications, and showcase environmental stewardship. In the residential sector, homeowners adopt BIPV technologies to reduce utility bills, increase property value, and contribute to renewable energy adoption goals.

 

Global Building-integrated Photovoltaics Overview by Region

In mature markets such as Europe and North America, stringent energy efficiency regulations, favourable feed-in tariffs, and increasing sustainability awareness drive robust demand for BIPV solutions in both commercial and residential sectors. Countries like Germany, the United States, and the United Kingdom lead in BIPV installations, leveraging advanced technologies and innovative architectural designs to integrate solar energy seamlessly into building structures. In Asia Pacific, rapid urbanization, rising energy demand, and government initiatives promoting renewable energy drive significant market growth. Countries like China, Japan, and Australia invest heavily in BIPV infrastructure to address energy security concerns, reduce carbon emissions, and foster sustainable development. Additionally, supportive policies, technological advancements, and collaborations between government agencies, industry players, and research institutions accelerate BIPV adoption in emerging markets across Latin America, the Middle East, and Africa.

 

Global Building-integrated Photovoltaics market competitive landscape

Established companies such as Tesla, Solaria Corporation, Hanergy Thin Film Power Group, and SunPower Corporation dominate the market with their diverse portfolio of BIPV products, technological expertise, and extensive distribution networks. These industry leaders invest heavily in research and development to enhance the efficiency, durability, and aesthetics of BIPV systems, catering to the evolving needs of commercial and residential customers. Moreover, strategic partnerships with architects, building developers, and construction firms enable these companies to integrate BIPV solutions seamlessly into architectural designs and construction projects, further consolidating their market position. In addition to established players, the BIPV market witnesses the emergence of innovative start-ups and niche players specializing in novel materials, design concepts, and installation techniques. These newcomers, including Onyx Solar, Solaria Energía y Medio Ambiente, and Polysolar, disrupt the market with their cutting-edge technologies, customizable solutions, and focus on sustainability. As competition intensifies, companies differentiate themselves through factors such as product performance, pricing strategies, warranty offerings, and customer support services. Furthermore, industry consolidation, mergers, and acquisitions shape the competitive landscape, with larger players seeking to expand their product portfolios, geographic reach, and technological capabilities through strategic alliances and acquisitions of smaller firms.

 

 

Global Building-integrated Photovoltaics Recent Developments

  • Sept 2023, Solarstone has revealed its cutting-edge Building-Integrated Photovoltaics (BIPV) factory, positioning itself as the largest facility of its kind in Europe in terms of production capacity. With the capability to manufacture 13,000 integrated solar panels monthly, the factory can annually equip 6,000 households with 10 kW solar roof installations, sufficient to power an average home. To put its scale into context, while Tesla has introduced its Solar Roof technology seven years ago, they have only implemented it in 3,000 homes across the United States.

 

Scope of global Building-integrated Photovoltaics report

Global Building-integrated Photovoltaics report segmentation

ATTRIBUTE

DETAILS

By Technology

  • Crystalline Silicon
  • Thin Film
  • Others

By Application

  • Roof
  • Window
  • Wall
  • Facade
  • Others

By End-use

  • Industrial
  • Commercial
  • Residential

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Building-integrated Photovoltaics size and forecast: To identify and estimate the market size for global Building-integrated Photovoltaics market segmented by Technology, By Application, By End-Use, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Building-integrated Photovoltaics
  • Market Influencing Factors: To find out the factors which are affecting the market of global Building-integrated Photovoltaics among consumers.
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Building-integrated Photovoltaics forecast period is 2024 - 2032
According to global Building-integrated Photovoltaics research, the market is expected to grow at a CAGR of ~ 18.35% over the next eight years.
The possible segments in global Building-integrated Photovoltaics are based on by Technology, By Application, By End-Use, & by region.
The expected market size for Global Building-integrated Photovoltaics is USD 16.32 billion in 2023.
The major players in the market are Hanergy Mobile Energy Holding Group Limited, AGC Inc., The Solaria Corporation, Heliatek GmbH, Tesla, Ertex Solar, Onyx Solar Group LLC, NanoPV Solar Inc., Polysolar Ltd, and ViaSolis