A three-pronged approach was followed for deducing the building-integrated photovoltaics market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for building-integrated photovoltaics market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of building-integrated photovoltaics market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The building-integrated photovoltaics market was categorized into four segments, namely technology (Crystalline Silicon, Thin Film), application (Roof, Glass, Wall, Facade), end-use (Industrial, Commercial, Residential), region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).
The building-integrated photovoltaics market was segmented into technology, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The building-integrated photovoltaics market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into ten countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; China; India; Japan; Brazil.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The building-integrated photovoltaics market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
SolarWindow Technologies, Inc. -SolarWindow Technologies, Inc. develops transparent electricity-generating coatings. The company’s technology named LiquidElectricity Coatings provides the ability to harvest light energy from the sun and artificial sources and generate electricity from a transparent coating of organic photovoltaic solar cells applied to glass and plastics.
AGC Inc. - AGC Inc. specializes in the production of various glass products and glass materials for display & communication devices and energy devices. It operates through four business segments, namely Glass, Electronics, Chemicals, and Ceramics. The company operates in BIPV market through its Glass business segment. The company’s architectural product portfolio includes laminated glass, multi-layered glass, tempered glass, soundproof glass, fireproof/fire-resistant glass, and heat-ray reflection/absorption glass. It owns about 217 consolidated subsidiaries in over 30 countries and has several offices located across Asia, North America, Europe, and the Middle East & Africa.
Hanergy Mobile Energy Holding Group Limited - Hanergy Mobile Energy Holding Group Limited is primarily involved in the establishment of hydropower and solar power generation projects. The company majorly operates in thin film segment of solar energy-harnessing systems market. It is integrated across the value chain from R&D and high-end equipment manufacturing to thin-film solar module production and construction of thin-film solar power plants. The company’s thin-film solar modules are widely used across various sectors such as construction, transportation, and consumer electronics. Its construction sector portfolio includes a variety of BIPV solutions including curtain walls, rooftop solar, and household power generation modules.
The Solaria Corporation - The Solaria Corporation is a designer, developer, and manufacturer of photovoltaic products for commercial and utility customers in the U.S., Europe, and international markets. I The company offers products through two business segments of rooftop solutions and architectural solutions. The company owns 100 patent-encompassing processes, applications, materials, products, and manufacturing automation equipment. It focuses on being a technology leader in the solar industry through mass market penetration and by engaging in partnerships with other companies. The company is engaged with well-established industries, which require technological advancements to improve architectural glass and efficiency of its solar modules for utility and rooftop applications and to minimize its greenhouse gas emissions.
Heliatek GmbH - Heliatek GmbH provides building-integrated and building-attached solar energy-harnessing systems for applications, such as facades, which require solar cell material to be highly flexible. These products are utilized in buildings that are not suitable for conventional solar modules. The company is extensively focusing on expanding its network of product development partners to integrate its high-performance OPV films into novel applications. Its product development partners include AGC, Reckli, Huesker, and Kandil Steel. Furthermore, the company is also developing a high-volume roll-to-roll production facility with a capacity of one million square meters per year
Carmanah Technologies Corp. - Carmanah Technologies Corp., is involved in the production and design of solarpowered lights and LED-powered solutions. The company designs and distributes LED products used for infrastructure within the traffic, marine, aviation, obstruction, and offshore wind verticals. Its products use energy-efficient light-emitting diodes or LEDs, which produce a higher volume of light than heat for their size than several other types of illumination. It functions through three business segments of Signals, Power, and Illumination. The company is engaged in the production and installation of solar-powered systems and energy solutions through the Solar Power Systems Group.
Greatcell - Greatcell is involved in the production of solar energy-harnessing solutions. It is engaged in the installation of photovoltaic cells for various projects across the globe. In addition, the company provides notable building-integrated photovoltaic installations and is one of the upcoming players in the market. It operates its business through patented products and provides advanced high-performance solar energy solutions. The company also manufactures dye solar cell chemicals, components, and manufacturing equipment. It is a leader in the production and development of perovskite solar cell technology and focuses on incorporating it into buildings.
Tesla - Tesla is involved in the production of automobiles and energy-harnessing systems. The company is headquartered in California, U.S., and is known for providing “disruptive” innovation solutions. Its automobiles, namely Model S, Model X, and Model 3 are well-recognized. The company ventured into the field of solar energy harnessing solutions through its subsidiary. The company has gained high profits through the sale of its alternative products.
BELECTRIC – BELECTRIC is involved in installation of solar power plants and energy storage systems. The company is headquartered in Kolitzheim, Germany, and operates its business through four business segments including solar power plants, hybrid, energy storage, and roof systems. It is also a leading provider of operation and maintenance (O&M) services for major solar energy installation projects. The company is engaged in research and development of solar management systems. It has been actively focusing on partnerships to set up building-integrated photovoltaic systems. The company exhibits a high degree of vertical integration and manufactures BoS components including cabling, energy distribution & monitoring systems, inverters, and substructure.
Ertex Solar - Ertex Solar specializes in BIPV solutions. It is involved in the production of advanced glass and solutions used in building-integrated photovoltaics. The company manufactures and distributes solar modules for building integration for industrial and commercial projects. It also provides customized solutions to individual consumers in residential sector. The company’s product portfolio includes four major divisions, namely laminated safety glass modules, laminated safety glass module ISO, laminated safety glass DesignPV, and semi-transparent modules. It primarily caters to customers located within Europe. However, the company has served customers located in Kazakhstan, Sudan, Mexico, Qatar, and the U.S.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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