Building Integrated Photovoltaics System Market Latest Advancements and Business Opportunities 2028

The "Building Integrated Photovoltaics Market" Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Type, Application, and End Use," the market is projected to reach US$ 13,023.97 million by 2028 from US$ 4,605.97 million in 2021 and is expected to grow at a CAGR of 16.0% from 2021 to 2028.

The rising awareness about the adverse impact of using fossil fuels for power generation boosts the adoption of alternative methods for power generation across various sectors. This has influenced players in the building integrated photovoltaics market to increase their investments in strategic partnerships and product innovations & developments.

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Companies Profiled in this report includes:

• Heliatek
• AGC Inc.
• ertex solartechnik GmbH
• ISSOL sa
• MetSolar
• Onyx Solar Group LLC
• ClearVue Technologies Limited
• ASCA SAS
• Saule Technologies
• Waaree Energies Ltd

Europe is the major contributor to the building integrated photovoltaics market, followed by North America and APAC, respectively. In addition to regional diversification, increasing government incentives, renewable energy targets, and rising investments in solar technology are the major factors driving the market in this region. Countries such as the UK, Italy, Spain, and France are major contributors to the European building integrated photovoltaics market. Supportive directives from the European Commission (EC) in the form of financial incentives, such as subsidies, drive the photovoltaic integration in the region. Furthermore, the EC has been significantly lowering the levelized cost of electricity (LCOE) of its solar systems, which is providing lucrative opportunities to the building integrated photovoltaics market in Europe. North America accounted for the second-largest share in the building integrated photovoltaics market in 2020. Increasing support from governments through financial benefits and incentives to encourage green infrastructure favors the building integrated photovoltaics market growth in this region.

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Building Integrated Photovoltaics Market Segmentation:

By Technology:
• Colored
• Regular

By Type:
• Monocrystalline
• Polycrystalline
• Thin-Film

By Application:
• Roofs
• Walls
• Glass
• Facade

By End Use:
• Residential
• Commercial
• Industrial

North America accounted for the second-largest share in the building integrated photovoltaics market in 2020. Increasing support from governments through financial benefits and incentives to encourage green infrastructure favors the market growth in this region. The US and Canada contribute a major share to the revenue growth of the building integrated photovoltaics market in North America. According to the Solar Energy Industries Association, the solar power industry in the US received an investment of US$ 18.0 billion in 2019. Such high investments in this solar industry are likely to boost solar energy integration in the residential and commercial sectors in North America during the forecast period.

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The overall building integrated photovoltaics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the building integrated photovoltaics market size with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the building integrated photovoltaics market.

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