Press release
Sustainable Energy Strategies Propel Building-Integrated Photovoltaics Market to $58 Billion
Booming Market Growth Initiated by Aesthetics and Efficiency in Energy Generation
What Is The Projected Market Size and Growth Rate of The Global Building-integrated Photovoltaics Market?
The Building-integrated Photovoltaics market has witnessed notable growth in recent years and is expected to accelerate:
• The market expects to grow from $20.5 billion in 2024 to $25.46 billion in 2025, marking a compound annual growth rate (CAGR) of 24.2%.
• Growth in recent years is credited to environmental consciousness, green building certifications, and energy price volatility, among others.
• The market is forecasted to reach $58 billion by 2029, maintaining a CAGR of 22.9%.
• The growth in the forecast period can be attributed to the expansion of BIPV applications and growing environmental concerns.
What Is Driving The Growth in The Building-integrated Photovoltaics Market?
The burgeoning demand for zero-energy buildings fuels the building-integrated photovoltaics market's forward momentum. With increasing global concern about carbon emissions from buildings, there is a rising demand for buildings that combine energy efficiency with renewable energy to achieve zero energy levels. Investments in building energy efficiency have increased significantly, thus contributing to the growth of the building-integrated photovoltaics market.
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Who Are the Key Players Driving Building-integrated Photovoltaics Market Growth?
Pre-eminent companies operating in the building-integrated photovoltaics market include:
• First Solar Inc.
• Sharp Corporation
• Yingli Solar
• Solar Frontier
• SunPower Corporation
• Hanwha Solar
• Panasonic Corporation
• Kyocera Document Solutions Company
• Canadian Solar Inc.
What Are The Key Trends In The Building-integrated Photovoltaics Market?
Trends shaping the building-integrated photovoltaics market include:
• Integration of BIPV into smart building and IoT systems
• Advancements in solar technology
• Partnerships between solar manufacturers, architects, and construction firms
• Net-zero energy and carbon-neutral building trends
• Innovations in BIPV materials and designs
What Are The Segments Of The Global Building-integrated Photovoltaics Market?
The global Building-integrated Photovoltaics market is categorized as follows:
• By Product Type: Polyscrystaline, Thin-Film, Other Product Types
• By Application: Roof, Facade, Glass, Other Applications
• By End User: Residential, Commercial, Industrial
Which Region Leads The Building-integrated Photovoltaics Market?
Asia-Pacific held the largest share in the building-integrated photovoltaics market in 2024. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Building-integrated Photovoltaics Market Global Market Report?
- Market Size Analysis: Analyze the Building-integrated Photovoltaics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Building-integrated Photovoltaics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Building-integrated Photovoltaics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Building-integrated Photovoltaics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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