Building-Integrated Photovoltaic Skylights Market To Grow At A CAGR Of 15.3% And Is Estimated To Reach $5.3 Billion By 2031

The global building integrated photovoltaic (BIPV) skylights market is expected to witness a significant growth in the upcoming years due to the growing demand for green energy and the rising awareness among people towards the use of renewable energy sources. BIPV skylights are integrated into a building's façade and provide natural light as well as electricity to the building, thereby reducing the need for additional energy sources. BIPV skylights are increasingly being used in commercial buildings, residential buildings, and other structures.

According to a new report published by Allied Market Research, titled, "Building-integrated Photovoltaic Skylights Market by Type, Application, and Construction: Global Opportunity Analysis and Industry Forecast, 2021-2030," the global building-integrated photovoltaic skylights market was valued at $1.5 billion in 2020 and is expected to reach $5.3 billion by 2030, registering a CAGR of 15.3% from 2021 to 2030. In 2020, Europe dominated the global building-integrated photovoltaic skylights market accounting for nearly one-third share of the market.

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Moreover, the increasing focus on environmental sustainability, the growing trend towards the adoption of green architecture, and the increasing demand for energy-efficient buildings are likely to fuel the growth of the BIPV skylights market in the near future.

The increasing trend towards the adoption of green buildings has also led to the growth of the BIPV skylights market. Green buildings use renewable energy sources such as solar energy, wind energy, and geothermal energy, which has led to an increase in the demand for BIPV skylights. Furthermore, the introduction of government subsidies and incentives for the adoption of renewable energy sources is expected to further drive the growth of the market.

The increasing awareness among people towards the use of renewable energy sources, such as solar energy, wind energy, and geothermal energy, is expected to aid the growth of the BIPV skylights market. Additionally, the rising demand for energy-efficient buildings and the need for improved energy efficiency are also driving the growth of the market. Moreover, the rising trend towards the adoption of green architecture and buildings, the increasing focus on environmental sustainability, and the increasing demand for energy-efficient buildings are expected to fuel the growth of the BIPV skylights market in the near future.

Despite the growing demand for BIPV skylights, the high cost of installation and the lack of awareness about the advantages of using these skylights are likely to pose a challenge to the growth of the market. Moreover, the lack of efficient solar energy harvesting technologies and the lack of technical expertise in the installation of BIPV skylights are expected to hamper the growth of the market.

The global BIPV skylights market is highly fragmented, with a large number of industry players operating in the market. Some of the key players operating in the market include Solatube International, Inc., Nippon Sheet Glass Co., Ltd., Eaton Corporation, and Sunoptics.

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In conclusion, the global BIPV skylights market is expected to witness significant growth in the near future due to the growing demand for green energy and the rising awareness among people towards the use of renewable energy sources. Additionally, the increasing trend towards the adoption of green buildings and the increasing focus on environmental sustainability are likely to fuel the growth of the market. However, the lack of awareness about the advantages of BIPV skylights and the high cost of installation are likely to pose a challenge to the growth of the market.

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