Global Building Integrated Photovoltaics (BIPV) Market to Exhibit 18.7% CAGR 2013-2019 due to Growing Demand for Renewable Energy Sources
A comprehensive report on the global building integrated photovoltaics market has been published by Transparency Market Research. The report, titled “Building Integrated Photovoltaics (BIPV) Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” anticipates the global BIPV market to expand at a CAGR of 18.7% during the period from 2013 to 2019. The global BIPV market registered 343.1MW in 2012 and is expected to reach 1,152.3MW by 2019. The report analyzes the growth of the market across some of the key regions and profiles some of the prominent players in the market.
Browse the full Building Integrated Photovoltaics (BIPV) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 report at https://www.transparencymarketresearch.com/building-integrated-photovoltaics-market.html
The building integrated photovoltaic systems or BIPV systems implement integrated solar panels for electricity generation. Solar radiations are transformed into electrical energy with the help of BIPV systems. The electricity generated through the BIPV systems is widely used across residential and commercial sectors. The BIPV systems offer decentralization of grid power and hence, are preferred.
The report identifies that the growing awareness about the reduction of carbon footprints and the increasing focus on electricity generation from renewable resources of energy have propelled the growth of the global BIPV market. The low cost of electricity generation through BIPV, coupled with various government schemes and feed-in tariff’s rates, has supported the market’s growth. However, the high cost of BIPV systems is expected to restrain the growth of the market during the forecast period. Emerging technologies in BIPV hold immense opportunities for the growth of the market.
On the basis of technology, the global BIPV market has been segmented into thin film, C-Si, and others including DSC and OPV. The C-Si technology dominated the overall market with a share of 60% in 2012. The increasing adoption of the technology has been fuelled by its low cost. This technology is anticipated to lead the market throughout the forecast horizon. However, the thin film technology segment is projected to witness expansion at a CAGR of 19.1% during the forecast period.
According to end users, the global BIPV market has been divided into commercial, industrial, and residential. In 2012, the commercial sector accounted for 67% of the market and emerged as the leading end-use segment. However, during the forecast period, the industrial and residential categories are expected to display health growth.
Asia Pacific, Europe, North America, and Rest of the World are the key regions in the global BIPV market. The market was dominated by Europe in 2012 and the region held 41% of the market in terms of annual installations. Europe was followed by North America that accounted for 27% of the market. The rapid economic development and industrialization across the developing economies are expected to propel the growth of the market across Asia Pacific during the forecast period.
The global BIPV market is fragmented due to the presence of a number of players operating in the market. Some of the prominent names in the global BIPV market are Onyx Solar Group LLC, First Solar Inc., Sapa Solar, Sharp Solar, CENTROSOLAR Group AG, Ascent Solar Technologies Inc., Ecotemis, ertex solartechnik GmbH, Power Film Inc., Heliatek GmbH, and Pythagoras Solar. In 2012, players such as First Solar Inc., Sapa Solar, CENTROSOLAR, Ascent Solar Technologies Inc., and Pythagoras Solar dominated the overall market and accounted for 40% of the market.
Global building integrated photovoltaics (BIPV) market has been segmented as:
BIPV Market: Product Analysis
- Curtain wall
- BIPV windows
BIPV Market: Technology Analysis
- Thin film
- Other (DSC & OPV)
BIPV Market: End-user Analysis
BIPV Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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