Building-integrated Photovoltaics Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3578
Building-integrated Photovoltaics Market size will witness growth owing to surging demand for renewable technologies across commercial establishments along with strict regulation pertaining to GHG emissions. In addition, positive outlook toward research & development activities to enhance solar panel efficiency will complement the industry outlook. For instance, in 2017, United Nations (UN) launched Mission 2020 with a vision to introduce “new urgency” toward “global climate conversation” through reduction in Green House Gas (GHG) emissions by 2020.
Growing demand for uninterrupted electricity supply coupled with strict regulations toward establishment of zero emission buildings will stimulate the building-integrated photovoltaics market share. Favorable government initiatives including subsidies, tax rebates, investment tax credits and FiT have been introduced to enhance product demand. Furthermore, the restructuring of investment flow and trade policies along with growing awareness toward benefit of energy efficiency across emerging nations will complement the business landscape.
Building-integrated photovoltaics market is set to witness significant growth on the account of increasing adoption of smart grid technologies across developed regions. Low operating costs, higher efficiency, and minimal carbon emissions are some of the indispensable factors positively influencing the product demand. In addition, growing investment toward infrastructure sector along with rapid industrialization will augment the industry landscape.
Crystalline silicon building-integrated photovoltaics market will witness growth on account of rising environmental concerns along with surging clean electricity demand. Ease of installation, flexibility, dark shades customization and anti-reflective coating feasibility are some of the prominent factors influencing product demand. Additionally, surging demand for higher efficiency modules coupled with technological innovations in material technologies will stimulate the business landscape.
Favorable government measures toward renewable technologies, low panel manufacturing cost along with abundant solar energy potential will boost the Asia Pacific building-integrated photovoltaics market growth. Rising investments from institutions including World Bank, International Finance Corporation (IFC) toward electrification programs will significantly enhance the business scenario. According to Ministry of New & Renewable Energy (MNRE), in 2017, India’s annual solar manufacturing capacity reached 3 GW.
The U.S. building-integrated photovoltaics market is projected to grow on the account of paradigm shift toward integration of renewable technologies along with government efforts to minimize dependence on the fossil fuels. According to Solar Energy Industries Association (SEIA), in 2018, the solar industry has witnessed investment of USD 17 billion across the U.S.
Increasing demand for replacement of conventional technologies along with government inclination toward smart energy transition in residential sector will enhance the Europe building-integrated photovoltaics market size. For instance, in 2018, European Union established new energy strategy to achieve 32% of power generation from renewable technology by 2030 and further aims that by 2020 all new buildings should be Nearly Zero Energy Buildings.
Major industry players operating across the global building-integrated photovoltaics market are Onyx Solar, ISSOL, Ertex Solartechnik, Sphelar Power, BIPVco, ViaSolis, B Navitas Green Solutions, NanoPV Technologies., Ankara Solar AS, Jiaxing Feiya New Energy, Dyesol; Polysolar and Hermans Techniglaz.
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