CHICAGO, Aug. 28, 2024 /PRNewswire/ -- Building Integrated Photovoltaic Market in terms of revenue was estimated to be worth $12.49 billion in 2024 and is poised to reach $27.41 billion by 2029, growing at a CAGR of 17.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.
Browse in-depth TOC on "Building Integrated Photovoltaic Market"
324 - Tables
62 - Figures
297 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=509
Crystalline silicon, by technology, is expected to be the largest-growing segment during the forecast period.
Based on technology, the segment is bifurcated into two types such as Crystalline silicon and thin film. The crystalline silicon technology is expected to drive the market. This is due to the efficiency rates of crystalline silicon solar cells are higher, especially for the monocrystalline types, than those for thin-film technologies. This makes it more efficient at transcribing light into electricity and better at providing energy output in a small area, as available on building surfaces. Crystalline silicon is an established technology applied widely in the solar industry. Its long history of reliability and performance record gives it an edge over other newer or less well-proven technologies like thin film, which would make it a more secure option for large-scale BIPV projects. Global crystalline silicon solar panel production capacity is far higher than that of thin film technologies. Such broad availability ensures better access to c-Si products and makes it possible to produce them in quantity, thus meeting growing demand in the BIPV market.
Roofing, by Application, is expected to be the largest-growing segment during the forecast period.
The Application segment is further bifurcated into 3 types: Roofing, Facades and Externally Integrated Systems. The Roofing segment is expected be the largest growing market. In this aspect, since many building codes and regulations require or recommend renewable energy systems, roofing is more likely to be the easiest and most compliant area for: BIPV systems are easy to retrofit onto an existing building, making it practical for older structures to utilize renewable energy capabilities without much structural alteration. Installing BIPV roofing might be more affordable than installing facades or externally attached systems because the expense for traditional roofing materials is replaced with solar technology, lowering the overall building cost. Enthusiasm for more green and sustainable buildings has led to an interest in BIPV roofing in which this roofing solution makes a significant contribution to a variety of different energy efficiency and sustainability targets.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=509
Asia Pacific is expected to be the Fastest growing region during the forecast period.
Most countries in this region have very good climatic conditions in terms of solar energy, with most parts receiving high levels of radiation. This makes BIPV a very viable and efficient way for the generation of renewable energy directly from building surfaces. This simply implies that the demand for BIPV systems forming part of smart building designs in smart city development across the Asia Pacific, enshrining the goals of energy efficiency and sustainability, is on the rise. With robust economic growth in the Asia Pacific region, investments in sustainable infrastructure and renewable energy projects, inclusive of BIPV in commercial, industrial, and residential building applications, will keep on increasing. Countries in the Asia Pacific are increasingly adopting green building standards and certifications, such as China's Green Building Evaluation Standard and India's GRIHA. These standards encourage the integration of renewable energy solutions like BIPV. Countries such as China and India, situated in the Asia Pacific region, have rapid urbanization. On the other hand, the growth of urban areas increases construction activity accordingly, within which BIPV is integrated into new buildings and infrastructure projects.
Key Players
Some of the major players in the Building Integrated Photovoltaic Market are LONGi (China), JinkoSolar (China), JA SOLAR Technology Co.,Ltd. (China), AGC Inc. (Japan), and Canadian Solar (Canada) among others. The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, joint ventures, collaborations, investments, and expansions.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=509
Related Reports:
Bifacial Solar Market by Type (Dual-Glass, Glass-Backsheet), Frame Type (Framed, Frameless), Cell Technology (Passivated Emitter Rear Contact, Heterojunction, TOPCon), Application (Residential, Commercial & Industrial, Utilities) - Global Forecast to 2029
Solar Encapsulation Market by Material (EVA, PVB, PDMS, Ionomer, TPU, Polyolefin), Technology (Crystalline Silicon, Thin-film Solar), Application (Ground-mounted, Building-integrated Photovoltaic, Floating Photovoltaic) & Region - Global Forecast to 2028
Photovoltaics (PV) Market by Component (Modules, Inverters, BOS), Material (Silicon, Compounds), Installation Type (Ground Mounted, BIPV, Floating PV), Application (Residential, Commercial & Industrial, Utilities), Cell Type and Region - Global Forecast to 2028
Get access to the latest updates on Building Integrated Photovoltaic Companies and Building Integrated Photovoltaic Industry Growth
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
SOURCE MarketsandMarkets
Share this article