2023: AGC Glass: Delivered its Building Integrated Photovoltaic (BIPV) glass, namely Sunjoule®, at a parking lot at the Shizuoka Station North Exit Square.

According to MarkNtel Advisors study, The Global Building Integrated Photovoltaics Market size is valued at USD 20.80 billion in 2023 & is expected to reach around USD 90 billion in 2030. The market is estimated to grow at a CAGR of around 19.64% during the forecast period, i.e., 2024-30.

Over the years, non-renewable power resources such as Oil, Natural Gas, and Coal have remained the major resources responsible for electricity production. Based on the statistics provided by the Our World Data Organization, the share of these finite resources during power generation is more than 50%. However, the consistent usage of these commodities & over-exploration of the oil fields has led to the depletion of these resources.

Around 90 billion global natural resources are being depleted every year, based on the statistics by the Gitnux Organization. This is becoming a point of concern for the end-users, like industrial & commercial since they rely heavily on these resources to conduct the daily operational tasks. Therefore, to mitigate the energy security risk, these end-users are shifting towards solutions that utilize renewable resources. Hence, the Global Buildings Integrated Photovoltaics Market is witnessing market growth. 

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Key Findings in Building Integrated Photovoltaics Market:

Building Integrated Photovoltaics Market Key Players:

AGC Glass, Canadian Solar, Heliatek GmbH, BIPVco Limited, Yingli Solar Co., Hanergy Holding Group Ltd., Kyocera Corporation, Ascent Solar Technologies, Sharp Corporation, Schott AG, Solaria Corporation, Hanwha Group, Sunpower Corporation, United Solar Ovonic Corp, First Solar Inc., and Others.

Market Segmentation Overview:

By Product Type

-Roofing Products

-Covering & Shading Elements

-Glass products

-Vertical Products

By Technology

-Silicon-based

–Crystalline Silicon (C-Si)

–Amorphous Silicon (A-Si)

–Multi-crystalline Silicon (mc-Si)

–Pseudo-crystalline Silicon (pc-Si)

-Thin Film

–Copper Indium Gallium Diselenide Solar Cells

–Cadmium Telluride Thin-Film Solar Cells

–Others

Silicon-based technology holds a prominent market share in the Global Building Integrated Photovoltaics market. Silicon is non-toxic, i.e., it is safe for both humans & environment. Silicon has a small collector, providing higher output than germanium and other photovoltaic products. Thus, the end-users prefer silicon technology-based solar products to maximize their power generation, enhancing the silicon-based technology’s market share. Along with this, the silicon crystals do not damage in case of excessive sun heat. Thereby, providing electricity without any failure & even during scorching heat, making it preferable among the end-users.

Moreover, silicon is an easily available material. As per the US Department of Energy, Silicon is the second most abundant material on the earth. This abundance & easy accessibility has resulted in the top companies manufacturing photovoltaic products based on silicon. Additionally, the cost of silicon-based products is comparatively lower than the thin-film commodities, further contributing to the market growth.

By Application

-Roof

-Walls & Facade

-Glass

-Others

By End User

-Residential

-Commercial

–Offices

–Retail

–Others

-Hospitality

-Industrial

-Government

-Agrivoltaics

-Others (Educational Institutes, etc.)

By Demand Type

-New Installation

-Retrofitting

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By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

The Building Integrated Photovoltaics Industry Recent Development:

2023: Canadian Solar: Announced to invest around USD800 million to build solar photovoltaic (PV) cells & improve the accessibility of its products across the globe.

About MarkNtel Advisors:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

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