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Building Integrated Photovoltaics (BIPV) Market Analysis

  • Report ID: GMI9377
  • Published Date: May 2024
  • Report Format: PDF

Building Integrated Photovoltaics Market Analysis

Based on product type, the crystalline silicon segment dominated the global market with a share of over 40% in 2023. crystalline silicon cells are known for their high efficiency in converting sunlight into electricity. Monocrystalline silicon, in particular, offers the highest efficiency rates among all solar technologies, which can range from about 15% to over 20%. This high efficiency is crucial for BIPV applications where maximizing energy output from limited surface areas on buildings is essential.


Crystalline silicon solar cells can be integrated into a variety of building materials and structures including glass facades, roofing materials, and shading elements. Their versatility in design allows architects and building designers to incorporate solar energy generation seamlessly into building aesthetics, contributing to the growing adoption of BIPV systems. BIPV systems based on crystalline silicon solar cells offer significant environmental benefits including reduced greenhouse gas emissions, decreased reliance on fossil fuels, and conservation of natural resources. The environment-friendly attributes of crystalline silicon technology resonate with environment-conscious consumers and businesses, driving the demand for BIPV installations.

Building Integrated Photovoltaics (BIPV) Market Share, By Application, 2023

Based on application, the facade segment is expected to register a CAGR of over 20.5% during 2024 to 2032 and is projected to surpass USD 40.5 billion by 2032. One of the primary advantages of BIPV technology in facades is its ability to seamlessly blend with the building’s architecture. Modern BIPV systems can be incorporated into glass and other facade materials that not only look attractive but also maintain the design integrity of the building. This aesthetic appeal is crucial for architects and builders looking to integrate renewable energy solutions without compromising on the visual impacts of their designs.

China Building Integrated Photovoltaics (BIPV) Market Size, 2022-2032 (USD Million)

Asia Pacific building integrated photovoltaics market is expected to grow at a CAGR of over 21.5% through 2032. Governments across the region are increasingly supporting renewable energy through mandates and incentives. Countries including China, Japan, and South Korea have introduced policies that encourage the adoption of solar energy. These policies are crucial in making BIPV solutions more financially attractive and feasible. According to China’s National Energy Administration, the country added over 216 GW of solar capacity in 2023 and according to the IEA Report, China has invested over USD 50 billion in new PV supply capacity.

Moreover, Asia Pacific is experiencing rapid urbanization with extensive new construction and infrastructure development, particularly in countries including China, India, and Southeast Asia. This surge in building activity creates substantial opportunities for integrating BIPV solutions into both new buildings and renovations, driving market growth. With rising populations and economic growth, the demand for energy in the Asia Pacific region is skyrocketing. BIPV provides a way to meet this growing energy demand sustainably, reducing reliance on imported fossil fuels and improving energy security.  

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size of building integrated photovoltaics was reached USD 23.4 billion in 2023 and is expected to register over 20% CAGR from 2024 to 2032, owing to growing concerns about climate change and environmental degradation worldwide.

Building integrated photovoltaics industry from the crystalline silicon cells segment held over 40% share in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to their high efficiency in converting sunlight into electricity.

Asia Pacific building integrated photovoltaics (BIPV) industry and is expected to register over 21.5% CAGR from 2024 to 2032 due to governments across the region, increasingly supporting renewable energy through mandates and incentives.

AGC Inc., ONYX Solar Group LLC, Hanergy Mobile Energy Holding Group Limited, Maxeon Solar Technologies, Ltd. (The Solaria Corporation), Tesla, Inc., SunPower Corporation, and Ertex-Solar, are some of the major building integrated photovoltaics (BIPV) companies worldwide.

Building Integrated Photovoltaics Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 288
  • Countries covered: 21
  • Pages: 250
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