Global Building Integrated Photovoltaic (BIPV) Market: Insights, Market Size, Share, Growth, Trends Analysis and Forecast to 2021
Building integrated photovoltaic (BIPV) systems uses solar panels which are incorporated into buildings for electricity generation by transforming solar energy into electrical energy. In addition, BIPV products are capable of providing natural lighting, thermal insulation, structural stability and protection from water and external elements among others. Government growing support in the form of regulations and incentives is aiding the growth of BIPV market. Furthermore, the developments of aesthetic factors are fueling the growth of the market.
Major factor that is hindering the growth of this market is the high initial investment cost for consumers. Consumers are required to invest huge sum in infrastructure during initial setup of the building integrated photovoltaic restraining the growth of this market. Furthermore, lack of expertise in designing and installing building integrated photovoltaic is also a major drawback for the growth of this industry. In addition, no standard units available for measurement of units of energy for photovoltaic are restraining the growth of the market. Growing trends of building integrated photovoltaic manufacturers collaborating with construction companies are creating new opportunities for the market. In addition, advancement in the field of photovoltaic cells with new cell generation technologies are further creating new opportunities for existing and new players in this market.
Building integrated photovoltaic market is segmented on the basis of products which primarily include: roofing, BIPV cladding, BIPV glazing, BIPV shading, BIPV glass, wall integrated and Windows among others. BIPV roofing is further segmented into Tiles, laminates, metal seam, and shingles. Further BIPV market is segmented based on technology which includes thin film PV and crystalline silicon. Thin film PV is further segmented into copper indium gallium selendie (CIGS)/copper indium diselenide (CIS), amorphous silicon and cadmium telluride among others. BIPV market segmented based on application includes commercial buildings, residential buildings and industrial buildings among others.
The market is segmented on basis of geographic regions into 4 segments including North America, Europe, Asia Pacific and Rest of the world (RoW). Europe is among the largest market share for BIPV mainly accelerated by demands from Germany, France, Spain and Italy. Furthermore, new entrants and financial incentives provided by the government are aiding the growth of BIPV in European market. North America followed Asia Pacific due to growing demand for BIPV modules and implementation of zero emission building policies in U.S driving the growth of the North American market.
Key players in the BIPV market include, First Solar, Pythagoras Solar Ltd, Ascent Solar Technologies and Sapa Solar among others.