The global building-integrated photovoltaics market size was valued at USD 10.97 billion in 2018 and is expected to expand at a CAGR of 18.8% from 2019 to 2025. The growth can be attributed to the enhancement in demand for integrated solar energy solutions in commercial installations. The market is expected to witness high growth as the product is in the growth phase of its lifecycle and is likely to sustain high demand due to the superior integration coupled with increased adoption of solar energy harnessing systems.
Furthermore, rise in awareness of several infrastructure companies regarding zero emission buildings is projected to boost the demand BIPV. In contrast, high initial project costs along with intermittency nature of solar energy and shadowing effect can result to reduce efficiency of BIPV systems, which are likely to limit the growth. The market is expected to rise with enhancement in installation of BIPV systems in commercial installations due to increase in awareness regarding green buildings.
Government from various countries have favorable policies and supportive regulations to enhance growth of BIPV market. They utilize policy tools such as financial incentives and benefits to promote utilization of renewable energy across the country. Countries such as U.S. and China have come up with specific policies for building-integrated photovoltaics with an objective to enhance BIPV installations in the respective country.
Technological advancements in the conventional photovoltaic modules will enhance the potential tapping capacity of newly manufactured modules. Moreover, significant technological advancements and R&D efforts to harness upcoming module technologies will drive the demand for the product over the forecast period.
Based on module technology, the Building-integrated Photovoltaics (BIPV) market is classified into C-Si, thin film, and other technologies which comprises Dye Sensitized Solar Cell (DSSC), and Organic Photovoltaic (OPV). C-Si segment led the market in 2018 with a revenue of USD 7.64 billion due to use of these modules conventionally in solar energy installations. This segment is likely to witness above average growth rates on account of increasing demand for higher efficiency integrated modules coupled with significant developments in material technologies.
Thin film segment is expected to witness the fastest growth over the forecast period due to better aesthetic appeal of these modules. In addition, rise in demand for thin film modules specifically for windows will drive the segment in the forthcoming years. In contrast, limited efficiency of thin film modules compared to C-Si modules would restrict the growth.
Roofs segment accounted for the highest revenue share of over 61% in 2018 due to the availability of higher installation area for BIPVs. Increasing demand for such installations from the residential sectors in mature economies, such as U.S., Germany, France, and U.K., is anticipated to drive the growth over the forecast period.
Glass BIPV segment is projected to witness the fastest CAGR of over 20% from 2018 to 2025 due to better aesthetic appeal of the product. In addition, ease of installation and integration of solar energy systems with glass will drive the demand for facades over the forecast period.
The others segment is likely to rise due to increase in demand for installations for curved building surfaces, which receive high amounts of solar radiations. The curved building surfaces receive more of solar rays and can harness higher energy as compared to roofs, glass, facades, and walls.
The industrial held the largest market share of around 40% in 2018 due to rising adoption of solar installations to decrease their reliance on non-renewable sources of power generation. In addition, rise in awareness for application of renewable energy sources among the various industries is likely to enhance demand for BIPV products in the forecast period.
The commercial segment is projected to expand at a high CAGR over the forecast period, due to increased efforts by developers to project their installations as eco-friendly. In addition, improvement in aesthetic appeal of commercial establishments by BIPV installations and increase in awareness for zero emission buildings is expected to drive the growth.
Asia Pacific is expected to witness the fastest growth due to the presence of favorable regulations and norms to enhance renewable energy installations in industrial as well as commercial establishments in countries such as China, India, Japan, and South Korea. Integrated residential solar installations in several countries such as India and China is likely to grow due to introduction of policies and programs for net metering. In addition, rise in awareness regarding construction of green building is expected to further fuel the growth.
The BIPV market is projected to witness noteworthy growth in Germany, France, Belgium, and Spain due to supportive directives and regulations being enacted by the European Commission for application of integrated photovoltaics. In addition, supporting infrastructural developments in the form of optimum grid-parity of PV systems, reduced Levelized Cost of Electricity (LCOE) for solar installations, and stringent certification and testing norms are further expected to boost growth. Financial incentives such as subsidies and tax incentives by several governments in the European Union (EU) are likely to drive the regional demand for these installations.
Major market players utilize strategies such as new product development, with focus on enhancing the overall efficiency of BIPV installations coupled with mergers and acquisitions to enhance their presence geographically. Key players include AGC Solar; BIPV Ltd.; Belectric; Heliatek GmbH; Dyesol Ltd.; Ertex solartechnik GmbH; Hanergy Holding Group Limited; and Canadian Solar Inc.
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Attribute |
Details |
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Base year for estimation |
2018 |
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Actual estimates/Historical data |
2014 - 2017 |
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2019 - 2025 |
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Market representation |
Revenue in USD Million & CAGR from 2019 to 2025 |
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Regional scope |
North America, Europe, Asia Pacific, CSA, MEA |
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Country scope |
U.S., Canada, Germany, U.K., China, Japan, India |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
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15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global Building-integrated Photovoltaics market based on technology, application, end use, and region:
Technology Outlook (Revenue, USD Million, 2014 - 2025)
C-Si
Thin Film
Others
Application Outlook (Revenue, USD Million, 2014 - 2025)
Roofs
Walls
Glass
Façade
Others
End Use Outlook (Revenue, USD Million, 2014 - 2025)
Residential
Commercial
Industrial
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Italy
Asia Pacific
China
India
Japan
South Korea
Australia
Central & South America (CSA)
Brazil
Middle East & Africa (MEA)
UAE
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