Building Integrated Photovoltaics (BIPV) Market to Reach $86.7 Billion by 2030: Allied Market Research
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The market across Europe would hold the largest share, However the market across North America is projected to manifest the highest CAGR of 20.7%.
PORTLAND, OREGON, UNITED STATES, February 24, 2022 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global building integrated photovoltaics (BIPV) market is projected to reach $86.7 billion by 2030, registering at a CAGR of 20.1% from 2021 to 2030. The report outlines market characteristics, growth by segmentation, market potential, and competitive landscape.
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Eswara Prasad, Manager, Energy and Power at Allied Market Research, said, “Rise in demand for solar photovoltaic among residential applications and surge in government initiatives and programs have boosted the growth of the global building integrated photovoltaics (BIPV) market. However, surge in grid connection issues and interconnection delays and insufficient grid capacity hinders the market growth. On the contrary, surge in price of fossil fuels is expected to open new opportunities for the market players in the future.”
Covid-19 pandemic scenario:
• The Covid-19 pandemic resulted in lockdown across the countries which hampered the manufacturing activities. This negatively affected the market growth.
• The prolonged lockdown resulted in disruption of the supply chain and created labor shortages in the PV industry.
The report includes a comprehensive analysis of the segmentation of the global building integrated photovoltaics (BIPV) market on the basis of technology, application, end-use, and region. The study is vital for investors, new market entrants, and stakeholders to understand the fastest-growing segment and highest-growing segment during the historic period and forecast period.
On the basis technology, the crystalline silicon market held the fastest CAGR2 of 20.4% during the forecast period. Moreover, the segment is expected to hold the largest share during the forecast period.
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Based on application, the roofs segment is expected to hold the largest share during the forecast period. However, the glass segment is projected to manifest the highest CAGR of 21.0% from 2021 to 2030.
The global building integrated photovoltaics (BIPV) market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe would hold the largest share throughout the forecast period. However, the market across North America is projected to manifest the highest CAGR of 20.7% during the forecast period.
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The global building integrated photovoltaics (BIPV) market report includes a detailed study of the major market players such as AGC Solar, Heliatek GmbH, Belectric, Greatcell Solar Limited, Carmanah Technologies Corporation, Ertex Solartechnik GmbH, Hanergy Holding Group Limited, Tesla Inc., Canadian Solar Inc., and Solaria Corporation.
David Correa
Allied Analytics LLP
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