Photovoltaic Noise Barrier Market - Forecasts from 2024 to 2029

The Photovoltaic noise barrier market is expected to grow at a compound annual growth rate (CAGR) of 25.87% from US$5,744.998 million in 2024 to US$18,152.932 million in 2029.

Photovoltaic noise barriers are wall-like structures that block traffic commotion and produce solar power. They are outlined to address noise contamination close thruways and active roads, providing a substantial benefit over traditional noise barriers by combining noise diminishment with renewable vitality generation. The market for photovoltaic (PV) noise barriers is positively impacted by increasing renewable energy requirements, rising infrastructure development as well as government incentives for solar energy establishments. This can essentially increase the adoption of PV innovations in infrastructure projects initiated by many governments that utilize PV technologies, including noise barrier applications, in the coming years.

For instance, China's Belt and Road Initiative (BRI) aims to invest over $1 trillion in various infrastructure projects across various countries, including Asia, Europe, and Africa, including broad road and railway systems. These government development initiatives will result in noise pollution and will demand noise cancellation technology like PV noise barriers, which will expand the market in the future.

Additionally, technological innovation and advanced PV noise barrier systems are being developed for more efficient solar power generation and noise cancellation. It will act as a driving force behind the expansion of the photovoltaic noise barrier market in the coming years.

The photovoltaic noise barrier market is estimated to grow at a moderate rate. Research and development (R&D) enhances the efficiency, durability, and affordability of photovoltaic cells, which may lead to improvements in their technology. Hence, photovoltaic noise barriers are more effective than conventional means in reducing noise pollution while generating clean power from sunlight, which is leading to market growth.

Photovoltaic Noise Barrier Market Drivers

• Rising infrastructure development is anticipated to propel market growth.

The market is primarily driven by the rapidly increasing urbanization, which requires broad advancement of transportation systems like highways, railways, and urban transit frameworks, which in turn requires noise mitigation arrangements such as noise barriers. As per the UNCTAD Handbook of Statistics 2023, the urban population is anticipated to reach 56.9%, with developed nations having a better share at 79.7% compared to the developing countries at 52.3% in t 2022. In addition, the urban population will observe a constant increase, with it being 4,162 million in 2017 and rising to 4,540 million in 2022. It is predicted to grow to 6,605 million by 2050.

Further, with new roads, highways, railways, and airports being constructed in urban cities, noise pollution becomes a concern for adjacent communities. Photovoltaic noise barriers offer an arrangement by relieving commotion amid the construction and after the infrastructure is fully operational. For instance, in June 2022, Mitrex, a Toronto-based manufacturer of integrated photovoltaics, introduced the world's first sound-absorptive solar highway noise barrier, a photovoltaic noise barrier (PVNB). The obstruction offers a Noise Reduction Coefficient (NRC) rating of up to 0.7, solar power generation, and improved aesthetics for roads and highways, making the path for an economical future.

Photovoltaic Noise Barrier Market Geographical Outlook

• The market is projected to grow in the North American region.

The United States is experiencing a significant increase in noise pollution, which is anticipated to propel market growth in the long term. For instance, according to the estimates from the American College of Cardiology, those living in areas with high levels of noise pollution are at higher risk of suffering from heart attacks compared to others. In addition to this, one out of twenty persons in New Jersey suffered from a heart attack mainly due to noise pollution from air traffic, highways, and trains, among others. These factors represent a lucrative opportunity for applying photovoltaic noise barriers with favourable R&D investment in upcoming years by key players.

Additionally, the rising adoption of solar energy in the country will expand till the forecast period. It is driven by increasing environmental consciousness among the population and the functionality of Photovoltaic noise barriers in the generation of clean and renewable solar energy. For instance, as per the estimates of the Office of Energy Efficiency and Renewable Energy, five states of the United States, namely California, Hawaii, Nevada, Vermont, and Massachusetts, generated more than 15% of their total electricity using solar energy, with California leading at 27.5%. This represents that the growing penetration of solar energy will aid the development of photovoltaic noise barriers.

In 2020, Peachtree Corners emerged as the first in the United States to implement solar roadways. The deployed panels are expected to deliver 21% increased performance, creating a new solar system overall.

The demand for noise barriers will expand till the forecast period due to numerous government initiatives in the country. For instance, in 2022, in Massachusetts, solar noise barriers are placed across the highways and are anticipated to generate 802,000kWh of electricity on an annual basis

Furthermore, the application of photovoltaic noise barriers will expand multifold in upcoming years due to the growing number of densely populated urban cities in the United States, which contribute to more noise pollution. For instance, according to the Centre for Sustainable Systems, around 89% of the country's population is expected to live in urban areas by 2050.

Photovoltaic Noise Barrier Key Market Developments:

• Mitrex, one of the leading players in the United States market, introduced its latest product related to photovoltaic noise barrier (PVNB), in 2022. The company is focused on bringing sustainable products across the North American region that provide an enhanced level of aesthetics for application on highways and roads. Therefore, Key developments in the market are anticipated to support innovations under the photovoltaic noise barrier in coming years.

Photovoltaic Noise Barrier Market Key Players:

• Solar Innova designs, manufactures and supplies high-quality PV modules and systems that convert sunlight into energy. It also provides high-quality technical support to all, accommodating both technical and commercial needs. Solar Innova has fulfilled various internal quality control requirements and is consistently striving to enhance the quality and functionality of its technologies.
• SoliTek, a European family-owned company, is a top choice for a variety of solar solutions. It has been providing a comprehensive solar energy package since 2023 by adding energy storage batteries for residential use to its product line.
• Mitrex is a leader in sustainable solutions, skillfully fusing innovative architecture and solar technology. Every stage of the process, from automated manufacturing to solar product installation, is planned with environmental consciousness.

The Photovoltaic Noise Barrier Market is segmented and analyzed as:

By Configuration

• Top-Mounted
• Integrated

By Solar Panel Type

• Monocrystalline
• Polycrystalline
• Thin-Film Solar Panel

By Application

• Motorways
• Freeways
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Italy
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Thailand
• Indonesia
• Others