Fact.MR, a market research and consulting firm, goes on record to state that that the global building integrated photovoltaic market is likely be worth US$ 16.1 Billion in 2022 and have a CAGR of 18.1% between 2022 and 2032. Call for sustenance has actually bolstered integrating infrastructure and renewable energy. Therefore, the global building integrated photovoltaic market is expected to reach US$ 88.6 Billion by the year 2032.
With global warming increasing at an alarming rate, being affable to climate-oriented uncertainties is the need of the hour. Stringent laws are being imposed all across for regulating environmental safety. This factor is expected to raise the potential of photovoltaic market in the forecast period.
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With growing popularity of the solar energy systems coupled with increasing awareness amongst the customers regarding clean energy are propelling the shipments of building integrated photovoltaics. At the same time, the fact that higher prices of implementation are likely to hamper the market can’t be ignored.
How Can New Entrants Make a Mark in the BIVP Marketplace?
“New Companies Should Focus on Innovation to Enhance their Revenue Generation Potential”
SunDrive, an Australian startup that created the most efficient commercial-sized silicon solar cell, has also fabricated the cell and is one step closer to commercializing the technology. The company is aiming to optimistically compete with big players in the market and will be eyeing the Asian market with the commercialization of its new solar cells.
Start-ups can focus on bringing such novel solutions and disrupt the market and improve their presence. Advancements in the efficiency of solar energy generation systems are expected to be a key area where new companies can focus their research and development over the coming years.
Supportive government initiatives to advance the adoption of renewable energy resources are anticipated to provide incentives for new entrants that could help them advance their research.
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Key Segments Covered in Building Integrated Photovoltaic Industry Survey
- BIVP Market by Technology :
- Crystalline Silicon
- Multicrytalline Silicon
- Monocrystalline Silicon
- Thin Films
- Dye-sensitized Solar Cells
- Copper Indium Gallium Selenide
- Organic Photovoltaic
- Amorphous Silicon
- Cadmium Telluride
- Others
- Crystalline Silicon
- BIVP Market by Application :
- Roofs
- Walls
- Glass
- Facades
- Others
- BIVP Market by End Use :
- Residential
- Commercial
- Industrial
- BIVP Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Competitive Landscape
Building integrated photovoltaic manufacturers are focusing on launching new and innovative products to maximize their sales potential and gain a competitive edge over other market players in the global landscape.
- In April 2022, Risen Energy, a China-based solar module manufacturer, announced the launch of its new BIPV products. The new lineup is claimed to be more environment-friendly and has an improved energy generation performance than the previous lineup.
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Key players in Building Integrated Photovoltaic Market
- Scheuten Solar Holding
- First Solar
- Ertex Solar
- Suntech Power Holdings
- Heliatek
- Sharp
- Ascent Solar Technology
Key Takeaways from Building Integrated Photovoltaic Market Study
- Globally, North America holds 28% of the overall market.
- Innovative measures like government of France offering high feed-in tariff for power generated through photovoltaic components used for integrating into the buildings to drive the market
- Globally, Europe contributes for 32.6% of the overall market revenue
- “Industrial” end-use to dominate the building integrated photovoltaic market.
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