Building integrated photovoltaic (BIPV) skylights Industry to Reach USD 5.3 Billion by 2030

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.

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚: https://www.alliedmarketresearch.com/request-sample/3255

𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝘆𝗻𝗮𝗺𝗶𝗰𝘀

The increasing demand for BIPV skylights is largely driven by the growing awareness among the public and businesses about the importance of renewable energy sources. Governments around the world are also providing incentives and subsidies to promote the use of renewable energy sources, which is further aiding the growth of the BIPV skylight industry.

BIPV skylights offer a huge potential for energy savings, as they are able to produce electricity from the sun's rays and reduce the need for grid-supplied electricity. In addition, they are also aesthetically pleasing and can improve the building's overall appearance. As a result of these benefits, the demand for BIPV skylights is on the rise.

In addition, technological advancements in the field of photovoltaics have made BIPV skylights more efficient, reliable, and cost-effective. This has further boosted the demand for BIPV skylights in the commercial, industrial, and residential sectors.

Limited availability of fossil fuels and implementation of stringent norms by government on reducing carbon emission create strong need for cost-efficient and energy-efficient renewable energy sources such as solar energy, which fuels the growth of the market. In addition, increase in urbanization and industrialization in the emerging countries such as Germany, France, and the U.S. propels the growth of the building-integrated photovoltaic skylights market globally. For instance, degree of urbanization in the U.S. increased by 0.4% from 2017 to 2019.

Rise in disposable income of population and improvement in standard of living foster the adoption of photovoltaic skylights system in residential properties, thereby augmenting the growth of the market. For instance, disposable income of South African population grew by 1.6% from 2019 to 2020. Rise in construction of commercial buildings & industrial buildings is further expected to boost the growth of the market in France. The commercial construction industry in France is expected to reach $227.7 billion by 2024, with a CAGR of 3.8%. These scenarios are favorable for growth of the market in the region during the forecast period.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮: - https://www.alliedmarketresearch.com/purchase-enquiry/3255

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗢𝘂𝘁𝗹𝗼𝗼𝗸

In recent years, the BIPV skylight industry has seen an influx of new players, as well as new products and services. This has increased the competition in the market and has led to innovation and improved quality of products. Companies are now offering BIPV skylights in different sizes, styles, and materials, thus providing customers with more options to choose from.

Rapid development of the residential and commercial industry drives the demand for photovoltaic skylights products such as solar panel, facades, and roof tops, thereby fueling the growth of the global building-integrated photovoltaic skylights market.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁

Increase in commercial and residential construction activities drives the growth of the global building-integrated photovoltaic skylights market. In addition, increase in spending on construction and renovation activities in countries such as Germany, the U.S., and Japan fosters the market growth. For instance, the U.S. Government spending on public and private infrastructure activities increased by 20% from 2012 to 2020.

The growth in the residential and commercial construction activities and rise in government support for construction and renovation activities, which fuels the global building-integrated photovoltaic skylights market. In addition, rise in spending on commercial and residential construction activities fuels the demand for photovoltaic skylights, thereby driving the growth of the global building integrated photovoltaic skylights market.

Overall, it is clear that the BIPV skylight industry is experiencing tremendous growth. The industry is expected to continue to grow in the coming years, driven by the increasing demand for renewable energy sources and technological advancements.

𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: - https://www.alliedmarketresearch.com/checkout-final/69dceb0bd823f04db233cad5aed380e9

𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄 -

Increase in spending on residential and commercial construction industry, which supplements the growth of the global building-integrated photovoltaic skylights market. In addition, tourism in various countries such as India, China, and Brazil, which drives the growth of the global building-integrated photovoltaic skylights market. For instance, in Brazil, according to the Worldbank Group, the government increased its allocation toward tourism sector, which is expected to grow at a rate of 1.48% from 1995 to 2028. China and India are expected to witness increase in new construction activities, which is expected to propel the installation of building-photovoltaic skylights market.

David Correa
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.