PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1617680
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1617680
Market Overview
The global building-integrated photovoltaics (BIPV) market is projected to grow significantly, reaching USD 32.9 billion by 2030, from an estimated USD 13.6 billion in 2024, at a robust CAGR of 15.8% during 2024-2030. The increasing adoption of BIPV systems is driven by a growing focus on sustainable infrastructure, energy efficiency, and government initiatives promoting clean energy. BIPVs integrate solar energy generation within building components, reducing emissions and reliance on external energy sources.
Technological advancements such as higher solar cell efficiency, improved installation methods, and innovations like wireless power transfer (WPT) are further accelerating market growth. Favorable policies, including net-zero energy building programs and green certification schemes, are also fueling demand for BIPV systems globally.
Key Insights
Market Segmentation:
The crystalline silicon technology segment dominates the market with a 75% revenue share in 2024 due to its resilience to extreme weather conditions and higher efficiency. Additionally, the thin-film segment is witnessing growth for its lightweight structure and aesthetic appeal.
By application, the rooftop category leads as it allows for efficient energy production without requiring major structural changes. The facade and glass applications are also gaining traction, providing dual benefits of power generation and architectural integration.
Among end-use sectors, the residential category holds the largest share, driven by increasing demand for sustainable homes, net-zero energy buildings, and the rising preference for clean energy solutions. The commercial and industrial sectors are also adopting BIPVs to align with corporate sustainability goals and reduce energy costs.
Regional Analysis:
Europe holds the largest market share, driven by stringent environmental regulations and government incentives promoting the integration of renewable energy solutions in buildings. Countries such as Germany and France are leading adopters of BIPV systems.
The Asia-Pacific region is the fastest-growing market, led by rapid urbanization, rising construction activities, and government investments in renewable energy. For instance, India's National Programme on High Efficiency Solar PV Modules promotes BIPV adoption with significant incentives and investments.
North America is experiencing steady growth, with increasing adoption of energy-efficient building practices and advancements in solar technology.
Technological Advancements:
Innovations like wireless power transfer (WPT), improved solar cell efficiency, and cutting-edge fabrication techniques are reducing installation costs and enhancing energy generation capacity. These advancements make BIPV systems a viable, long-term investment for consumers and businesses.
Competitive Landscape:
The market is fragmented, with key players focusing on technological innovations, strategic partnerships, and expanding their product portfolios. Major companies are leveraging government policies and subsidies to strengthen their market position and enhance adoption.