Global Building Integrated Photovoltaics Market Growth To Be Driven By Increasing Usage Of Integrated Photovoltaics For The Generation Of Energy Across The Globedate_range
Photovoltaics is the most encouraging field among renewable energy. Photovoltaics is among the best way for the conversion of sunlight into electricity. Building integrated photovoltaics system is helpful in saving a huge amount of electricity and material, at the same time it helps in bringing down the use of fossil fuels and the subsequent harmful releases. Building integrated photovoltaics are used in off-grid, and utility grids, and stand-alone systems. Grid-tied systems offer advantages including maximum efficiency, unlimited capacity, and free storage system.
Increasing usage of conventional photovoltaics materials in window panes, building facade, curtain walls, and spandrels cladding, and rising need for reducing the costs on electricity are propelling the demand for building integrated photovoltaics. Technological advancements including artificial intelligence, voice control, the intelligent assistant have become a feasible control center for many connected and smart homes are among the other factors which help to drive the growth of the target market. However, factors such as high initial investment, Lack of knowledge and expertise to estimate the same, and technology is depended on the different building measurements and codes are the factors that are hampering adoption of these building integrated photovoltaics market.
Mainly three types of building integrated photovoltaics are available in the market currently, including single crystal silicon, polycrystalline silicon, and thin film. Demand for crystal silicon is high as compared to the other two types as they are usually opaque in nature, in dark shades of gray or black, with an optional anti insightful coating over the protective glass and are connected with solar modules.
The building integrated photovoltaics is used in various applications including residential and commercial. Demand for building integrated photovoltaics is increasing in commercial applications, due to the increasing focus for reducing power consumption across industrial buildings and corporate offices.
$ 16,856 Mn
- By Type
- By Region
- By Application
$ XXXX Mn
Rapid technological advancements and increasing constructive procedures for the increasing usage of integrated photovoltaics for the generation of energy and increasing disposable income especially in US and Canada are the factors that are resulting in high demand for the target market in North America. There is increasing popularity for the building integrated photovoltaics in the region of Asia Pacific due to Rapidly rising construction sector and growing adoption of solar energy in the developing economies in this region. In addition, growing subsidies presented by governments expect in countries such as India and China is another factor driving the growth of the market. Demand for building integrated photovoltaics is comparatively less in regions such as Latin America, and the Middle East & Africa.
The building integrated photovoltaics market worldwide is expected to grow at a compound annual growth rate of nearly 15.9% over the next 10 years and was valued at around US$ 16,856 Mn in 2018.
Some of the major players operating in the global building integrated photovoltaics market are Chengdu Xushuang, First Solar, Sharp, Yingli Solar, Solar Frontier, Meyer Burger, Harsha Abakus Solar, SunPower, Solarcentury, REC Group, Panasonic, Kyocera, Canadian Solar, Suntech, Hanwha Solar, Trina Solar, AGC Solar, Sapa Group, Wurth Solar, and Changzhou NESL.