Photovoltaic Skylights Market to grow up to US$ 5.4 billion by 2031, at a CAGR of 13.8% during the forecast period

New York, The global photovoltaic skylights market was valued at US$ 1.4 billion in 2021 and it is anticipated to grow up to US$ 5.4 billion by 2031, at a CAGR of 13.8% during the forecast period.

Global Photovoltaic Skylights Market report from Global Insight Services is the single authoritative source of intelligence on Photovoltaic Skylights Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Photovoltaic products are widely adopted in commercial, residential, and industrial sectors. A photovoltaic skylight is a window built into a roof to allow light on the surface of a building. The installation of photovoltaic skylights is increasing among buildings, as they provide proper ventilation, aid in energy saving, and help in smoke extraction from buildings. Further, a building-integrated photovoltaic skylight is an application of photovoltaic that involves installing photovoltaic materials in the facades, curtain walls, canopies, roofs, and walls of a building.

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Market Drivers and Trends
Solar energy solutions are being incorporated into commercial infrastructures to conserve energy and optimize the architecture, resulting in significant demand for building integrated photovoltaic materials. Moreover, green materials and the green building movement are major factors accelerating the global photovoltaics skylights market growth. As a result, the key players focus on replacing positive carbon materials with clean building-integrated photovoltaic materials and gaining a competitive edge in the market.

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Global Photovoltaic Skylights Market Segmental Overview
The report analyses the global photovoltaic skylights market based on type, application, construction, and region.

Global Photovoltaic Skylights Market by Type

Based on type, it is segmented into crystalline panel and thin film panel. The thin film panel segment market growth is growing faster owing to rapid technological advancements that lead to the introduction of advanced products. Thin film panels are readily used in case of considerable weight constraints for the building. In such cases, the building envelope can't support the weight of crystalline silicon integration, leading to high demand for thin film integrated installation. Thin film is beneficial as it can be used for curved surfaces due to its superior flexibility. Thus, numerous benefits of the thin film panel segment boost the market's growth.

Global Photovoltaic Skylights Market by Application

Based on application, it is segmented into residential, commercial, and industrial. The commercial segment is likely to hold the major share of the market in 2021. The demand for building-integrated photovoltaics skylights in the commercial sector is likely to be fueled by the rising number of retrofit projects. Further, the high emphasis on the aesthetic appeal of solar energy-harnessing systems, majorly in the commercial sector, is likely to fuel the product demand in this sector.

Global Photovoltaic Skylights Market by Construction

Based on construction, it is segmented into new construction and renovation. The renovation segment is likely to hold the major share of the market in 2021. The renovation market continues to benefit from a strong housing market, including accelerating growth in homebuilding, sales, and home equity. Additionally to routine replacement and repair projects, homeowners are pursuing more and larger discretionary home improvements as the broader economy recovers.

Geographical Analysis of Global Photovoltaic Skylights Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Europe market is expected to hold the majority of the market share in 2021. With Germany and Italy promoting the use of solar energy, the adoption of building-integrated photovoltaics skylights will help in promoting European industry growth. This is because more players in the market are moving towards them. In addition, the European governments have been supporting growth by passing various regulations. This, in turn, boosts the demand for photovoltaic skylights in the European region.

Major Players in the Global Photovoltaic Skylights Market

The key players studied in the global photovoltaic skylights market are AGC Inc. (Japan), Autonic (India), Ertex Solar (Austria), Kingspan Group (SKYCO Skylights) [Ireland], Metsolar (Lithuania), ML SYSTEM S.A. (Poland), Norsk Hydro ASA (Norway), Onyx Solar Group LLC (Spain), Polysolar Ltd (UK), and Super Sky Products Enterprises, LLC (US)

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