Building-integrated Photovoltaics Market to rear excessive growth during 2031

𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠-𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐏𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏
The global building-integrated photovoltaics market was valued at US$ 11.7 Bn in 2021
It is estimated to advance at a CAGR of 23.2% from 2022 to 2031
The global building-integrated photovoltaics market is expected to reach US$ 94.4 Bn by the end of 2031

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/building-integrated-photovoltaics-market.html

𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠-𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐏𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧
Building-integrated Photovoltaics (BIPV) is the integration of photovoltaics (PV) into the building envelope. PV modules serve the dual function of building skin, i.e. replacing conventional building envelope materials and power generators. BIPV is widely adopted in the construction of new buildings as a principal source of electrical power. Increasing number of countries are accepting the Paris Climate Change Agreement. This is fueling the demand for building-integrated PV systems. The Paris Climate Change Agreement mandates countries to increase the share of renewable sources of energy in their total power generation, thereby providing ample opportunities for the adoption of the BIPV technology. According to the International Energy Outlook 2017, total energy consumption in the world is expected to rise from 575 quadrillion British thermal units (BTUs) in 2015 to 736 quadrillion BTUs in 2040, an increase of 28%. Thus, surge in demand for electricity across the globe, rise in consumer awareness about renewable energy, and increase in adoption of BIPV products and solutions across the world are some of the major growth factors of building-integrated photovoltaics market.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=454

𝐒𝐮𝐩𝐩𝐨𝐫𝐭𝐢𝐯𝐞 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐏𝐨𝐥𝐢𝐜𝐢𝐞𝐬 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠-𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐏𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
Countries in major regions across the world are enacting policies to move toward ultra-low energy buildings in order to address climate challenges. The European Union (EU) Energy Performance of Buildings Directive (EPBD) requires all new buildings to be nearly zero-energy buildings (nZEB) in all EU member countries by the end of 2020. The U.S., Japan, and Korea have also established ZEB policies and goals, and some leading subnational governments, most notably the States of California and Massachusetts in the U.S., have set ambitious ZEB targets. For instance, the U.S. State of California has set an ambitious goal that 'all new residential buildings in California would be zero net energy (ZNE) by 2020, and all new commercial buildings would be ZNE by 2030'. Japan has established targets for ZNE in new public buildings by 2020 and all newly constructed buildings by 2030. In 2014, Korea established the 'Activation Plan of Zero Energy Buildings' and a roadmap to achieve targets, along with a financing strategy and subsidies for pilot projects. Such supportive policies are driving the building-integrated photovoltaics market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=454

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠-𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐏𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
In terms of volume, Europe held 43.06% share of the global building-integrated photovoltaics market in 2021. Favorable outlook toward renewable energy coupled with consumer awareness for the same in countries across Europe is likely to drive the market for BIPV in the region during the forecast period. Germany and Italy are increasingly emphasizing the usage of solar energy. This is expected to boost the adoption of building-integrated solar panels in these countries during the forecast period.
The market in Asia Pacific is also projected to grow during the forecast period. Demand for BIPV products and solutions is anticipated to rise in China and Japan owing to the increase in efforts by governments to adopt these solutions. Customers in the region exhibit high demand for renewable energy sources in order to reduce the impact of non-renewable energy sources on the environment.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=454

𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠-𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐞𝐝 𝐏𝐡𝐨𝐭𝐨𝐯𝐨𝐥𝐭𝐚𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
The global building-integrated photovoltaics market is consolidated, with a small number of large-scale vendors controlling the majority of the share. According to a building-integrated photovoltaics case study, most of the firms are investing significantly in comprehensive research and development in order to develop environment-friendly products. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key players. ISSOL sa, BIPVco Ltd., ViaSolis, ertex solartechnik GmbH, Sphelar Power Corporation, NanoPV Solar Inc., Navitas Green Solutions Pvt. Ltd, Ankara Solar AS, Hermans Techniglaz BV, Onyx Solar Group LLC, Jiaxing Feiya New Energy Co.,Ltd., and Polysolar Ltd are the prominent entities operating in the market.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
Transparency Market Research Inc.
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