Building Integrated Photovoltaics Market to Surpass US$ 46.4 Billion at a CAGR of 19.85% by 2027

PRESS RELEASE

Published March 27, 2023

IMARC Group has recently released a new research study titled “Building Integrated Photovoltaics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global building integrated photovoltaics market size reached US$ 16.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2027, exhibiting a growth rate (CAGR) of 19.85% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Building-integrated photovoltaics (BIPVs) refer to dual-purpose materials used in building roofs, skylights, and facades. Also known as solar panels, BIPVs serve as the outer layer of a structure and generate electricity for on-site use and exporting to the grid. In recent years, BIPVs have gained traction as they help reduce the incremental cost of PV systems and eliminate the costs and design issues for separate mounting systems by integrating them in the initial construction phase. Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Building Integrated Photovoltaics Market Trends and Drivers:

The global building integrated photovoltaics market is primarily driven by the increasing environmental awareness toward the various benefits offered by BIPVs. These systems provide savings in material and electricity costs, as well as help reduce pollution. They enhance the architectural appeal of the building, as they can be employed to camouflage unattractive and degraded building exteriors. Governments of different nations are adopting initiatives to promote energy conservation and implement BIPVs in housing, commercial, and industrial infrastructures. In addition to this, there have been several technological advancements, such as the introduction of automated BIPVs components. Furthermore, the integration of solar energy solutions for energy conservation is providing a positive impact on the market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product Type

Polycrystalline
Thin Film
Other

Breakup by Application

Roof
Facades
Glass
Other

Breakup by End Use

Commercial
Residential
Industrial

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Ankara Solar AS
Ertex Solartechnik GmbH
Hanergy Holding Group Ltd
Hermans Techniglaz
ISSOL sa
Navitas Green Solutions Pvt. Ltd
NanoPV Solar Inc.
Polysolar
Sphelar Power Corporation
VIASOLIS,etc.

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