The global photovoltaic skylights market was valued at US$ 1.4 billion in 2021 and it is anticipated to grow up to US$ 5.4 billion by 2031, at a CAGR of 13.8% during the forecast period.
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Photovoltaic products are widely adopted in commercial, residential, and industrial sectors. A photovoltaic skylight is a window built into a roof to allow light on the surface of a building. The installation of photovoltaic skylights is increasing among buildings, as they provide proper ventilation, aid in energy saving, and help in smoke extraction from buildings. Further, a building-integrated photovoltaic skylight is an application of photovoltaic that involves installing photovoltaic materials in the facades, curtain walls, canopies, roofs, and walls of a building.
Market Drivers and Trends
Solar energy solutions are being incorporated into commercial infrastructures to conserve energy and optimize the architecture, resulting in significant demand for building integrated photovoltaic materials. Moreover, green materials and the green building movement are major factors accelerating the global photovoltaics skylights market growth. As a result, the key players focus on replacing positive carbon materials with clean building-integrated photovoltaic materials and gaining a competitive edge in the market.
Further, the rapid modernization of the construction and building sector and the increasing focus on clean energy have also increased the demand for green and zero-emission buildings. Also, solar energy harnessing systems in residential buildings have skyrocketed in popularity as consumers become aware of several ecological benefits of building-integrated photovoltaics skylights. Thus, growing popularity of green building and rapid modernization of the construction and building sector are acting as a driving factor.
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Major Players in the Global Photovoltaic Skylights Market
The key players studied in the global photovoltaic skylights market are AGC Inc. (Japan), Autonic (India), Ertex Solar (Austria), Kingspan Group (SKYCO Skylights) [Ireland], Metsolar (Lithuania), ML SYSTEM S.A. (Poland), Norsk Hydro ASA (Norway), Onyx Solar Group LLC (Spain), Polysolar Ltd (UK), and Super Sky Products Enterprises, LLC (US)
COVID-19 Impact
The COVID-19 pandemic has been affecting several sectors worldwide, adversely affecting the global economy in 2020. The massive outburst of the coronavirus had derailed the entire construction sector heavily, with several construction projects cancelled and several projects postponed indefinitely. The COVID-19 pandemic has also disturbed photovoltaic skylights market growth. Factory shutdowns and travel bans have adversely affected the construction industry, negatively impacting the growth of the photovoltaic skylights market. Also, the housing sector witnessed a huge drop in terms of trade due to lockdown restrictions in different countries, which hindered manufacturing operations during the COVID-19 pandemic. Therefore, the COVID-19 pandemic had negatively affected the global photovoltaic skylights market in 2020.
Global Photovoltaic Skylights Market Segmentation
By Type
- Crystalline Panel
- Thin Film Panel
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By Application
- Residential
- Commercial
- Industrial
By Construction
- New Construction
- Renovation
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