Global Building Integrated Photovoltaics (BiPV) Markets 2021: Market to Reach $23.3 Billion by 2027 - Economically Viable Energy Source for Buildings to Stir Future Opportunities
Dublin, Aug. 19, 2021 (GLOBE NEWSWIRE) -- The "Building Integrated Photovoltaics (BiPV) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Building Integrated Photovoltaics (BiPV) Market to Reach $23.3 Billion by 2027
Amid the COVID-19 crisis, the global market for Building Integrated Photovoltaics (BiPV) estimated at US$10.3 Billion in the year 2020, is projected to reach a revised size of US$23.3 Billion by 2027, growing at a CAGR of 12.4% over the analysis period 2020-2027.
C-Si, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$16.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 13.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 16.2% CAGR
The Building Integrated Photovoltaics (BiPV) market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2027 trailing a CAGR of 16.2% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.
Other Technologies Segment to Record 10% CAGR
In the global Other Technologies segment, USA, Canada, Japan, China and Europe will drive the 9.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$772.8 Million in the year 2020 will reach a projected size of US$1.5 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.8 Billion by the year 2027, while Latin America will expand at a 10.5% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
With COVID-19 Pandemic Crushing the Sentiment in the World Construction Sector, BIPV Market Set to Exhibit Substantial Decline in 2020
COVID-19 Induced Supply Chain Disruptions Weaken Construction Activity, Curtailing Demand for BIPV Solutions
Prevailing Weak Global Economic Environment & Negative Tide in GDP Forecasts Strongly Discourage BIPV Market
Introduction to Building Integrated Photovoltaics (BIPV)
An Insight into BIPV Technologies
Comparison between Crystalline Silicon and Thin Film Technologies
BIPV Applications
Merits & Demerits of BIPV Products in Various Applications
As the New Age 'Building Envelope Material' and 'Power Generator', BIPV Set to Resume Progressive Gains in Post COVID-19 Environment
Growth Drivers in a Nutshell
Image of BIPV as an Economically Viable, Multifunctional, Renewable Energy Source for Buildings to Stir Future Opportunities
Developed Countries Lead Market, Developing Economies to Spearhead Future Growth
Analysis by Technology Type
C-Si: Primary Technology Vertical in the BIPV Domain
Thin Film Technology Set to Make Robust Gains
Analysis by Application Type
Roofing Remains the Largest Application Segment for BIPV Market
With Solar Roofing Shingles & Tiles Gaining Popularity, Roofing Set to Solidify its Dominant Position
Glass Emerges as High Growth Application Segment
BIPV Walls Seek to Widen Addressable Market
Facades: Niche Application Area
Competitive Scenario: BIPV Market Characterized by High Degree of Fragmentation
Recent Market Activity
Glass Industry Players Seek Opportunities in BIPV Vertical
2. FOCUS ON SELECT PLAYERS (Total 104 Featured)
Ascent Solar Technologies, Inc.
Canadian Solar, Inc.
Greatcell Energy Limited
First Solar, Inc.
Hanergy Holding Group Ltd.
Global Solar Energy, Inc.
Hanwha Q CELLS Co., Ltd.
Heliatek GmbH
Sharp Corporation
Trina Solar
Wuxi Suntech Power Co., Ltd.
Yingli Green Energy Holding
AGC Inc.
BELECTRIC GmbH
CertainTeed Corporation
Ertex solartechnik GmbH
Onyx Solar Energy S.L.
Romag
Scheuten Glas Nederland B.V.
3. MARKET TRENDS & DRIVERS
Emphasis on Energy-Efficient, Green, LEED Buildings Builds Fertile Environment for BIPV Market
Relevance of Zero Energy Building Constructions Bodes Well for Future Growth
Smart City, the New Urban Infrastructure Model, to Steer Next Wave of Growth in BIPV Market
Sustained Rise in Global Electricity Demand Creates Conducive Scenario for Wider Uptake of BIPV Solutions
BIPV Market Stands to Gain from Growing Focus on Renewable Energy Sources
With Solar Energy Emerging as Reliable Renewable, BIPV Anticipates Parallel Momentum
Government Participation in Boosting Solar Energy Uptake Elevates Momentum in BIPV Domain
Future Prospects Remain Favorable Amid Growing Population & Urbanization Drive
Industrial Sector: Largest Revenue Contributor
Fast Paced Growth Anticipated in Commercial Buildings Vertical
BIPV Solutions Remain Highly Relevant in Residential Buildings
Besides New Installations, High-Growth Opportunities Exist for BIPV in Retrofit Market
Retrofit Opportunity in Government, Prestige, & Historic Buildings Verticals
Technology Advancements & Product Innovations Widen Addressable Market for BIPV Solutions
Advanced R&D Efforts Bring Forth BIPV-T Solar Roofing Technology
Colored Photovoltaic Continue to Gain Traction in BIPV R&D Programs
Customized PV Systems Emerge as New R&D Focus Area
Sonnenstromfabrik Brilliant PV Modules
IRIG Develops Self-Adjusting BIPV Panels
Meyer Burger's SmartWire Connection Technology (SWCT)
Metal Wrap Through (MWT) Technology
Passivated Emitter and Rear Cell (PERC) Technology
Organic Solar PV Cells
DysCrete Building Material
Solar Cloth PVs
Perovskite Materials
Select Innovations in the Photovoltaic Panels Market: 2020
A Glance at BIPV-Related Standards & Codes
International Electrotechnical Commission (IEC) Standards
Underwriters Laboratory (UL) Standards
Growth Barriers & Restraints
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/i7kqkj
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