Building Integrated Photovoltaic (BIPV) Market – Global Forecast To 2029
The building integrated photovoltaic market is expected to grow from an estimated USD 12.49 billion in 2024 to USD 27.41 billion by 2029, at a CAGR of 17.0% during the forecast period.
建材一体型太陽光発電(BIPV)市場は、2024年の推定124億9,000万米ドルから2029年までに274億1,000万米ドルに、予測期間中に17.0%のCAGRで成長すると予想されています。
Environmental restrictions on carbon reduction are becoming more stringent across the world, and governments are rewarding this, giving a boost to numerous goods and technologies, like BIPV systems, for sustainable construction practices. Improved efficiency, flexibility, and aesthetic aspects in photovoltaic technology are making BIPV products more viable for home and commercial applications. These are the key factors driving the growth of the building integrated photovoltaic market.
Key Benefits of Buying the Report
- Increasing emphasis on net zero emissions and supporting government regulations are just a few of the primary drivers propelling the building integrated photovoltaic market. Regulatory and legislative uncertainties, as well as costly initial capital expenditure, limit the market’s expansion. The ongoing energy shift to reduce carbon emissions is likely to provide attractive prospects for building integrated photovoltaic market participants.
- Product Development/ Innovation: The building integrated photovoltaic market is seeing substantial product development and innovation, driven by rising environmental concerns. Companies are investing in improved building integrated photovoltaic technology.
- Market Development: LONGi and Ferroglobe PLC have entered a long-term supply agreement starting January 1, 2024, emphasizing high-quality quartzite and metallurgical grade silicon supply for solar technology. LONGi aims to strengthen its position as a leading provider of eco-friendly solar products worldwide, promoting sustainable energy transformation and global cooperation in solar technology.
- Market Diversification: JinkoSolar has partnered with RELC and Vision Industries to establish a joint venture in Saudi Arabia. This venture will build a high-efficiency solar cell and module manufacturing facility with a USD 1 billion investment. Expected to produce 10 GW annually of solar cells and modules, the project aims to advance Saudi Arabia’s renewable energy efforts and global competitiveness, integrating JinkoSolar’s advanced technology with local expertise.
- Competitive Assessment: In-depth analysis of market share, growth plans, and service offerings of top companies in the stations market, including LONGi (China), JinkoSolar (China), JA SOLAR Technology Co.,Ltd. (China), AGC Inc. (Japan), and Canadian Solar (Canada) among others.