Building-integrated Photovoltaics Market Size Worth USD 99.7 Bn Globally with Excellent CAGR of 22.8% by 2031, Size, Share, Rising Trends, Market Demand and Revenue Outlook

The global Building-integrated Photovoltaics market is estimated to attain a valuation of US$ 99.7 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 22.8% during the forecast period, 2023-2031.

The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the Building-integrated Photovoltaics industry. The current and historical status of the market together with forecasted market size and trends are demonstrated in the assessment in simple manner. In addition, the report delivers data on the volume, share, revenue, production, and sales in the market.

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Multifunctional features and aesthetic look

BIPV products provide additional functionalities to a building unlike traditional construction materials. Use of the BIPV technology converts buildings from energy consumers into energy producers. In order to achieve this, the construction technology is required to be merged with the BIPV technology. Here, photovoltaic modules serve the purpose of building exteriors, such as roofs, facades, and skylights. BIPVs protect buildings from climatic conditions and noise. Also, they offer thermal insulation. Rooftop solar photovoltaic (PV) systems are gaining popularity, due to scarcity of ground space and availability of unused roof space. The BIPV technology reduces total building material costs and mounting costs, as BIPVs do not require brackets and rails. Hence, their popularity has been increasing continuously. Designers and architects use BIPV products with innovative methods, whereas manufacturers continue to develop new products to meet the rising demand. Companies such as Sanyo, SCHOTT Solar, Sharp, and SUNTECH are working on the new BIPV products for facades, skylights, and windows. 

Crystalline silicon to remain a dominant technology segment

Among technologies, the crystalline silicon segment dominated the global BIPV market in 2017. Two types of crystalline silicon photovoltaics are used i.e. monocrystalline silicon and polycrystalline silicon. Crystalline silicon glass can be easily customized, especially in terms of shape, as trapezoids can be easily fabricated by using this technology. 

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About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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