The Building-Integrated Photovoltaic Market was valued at US$14.42 billion in 2021 and is estimated to reach US$81.76 billion by 2027, with a CAGR of 20.1% from 2022 to 2027.

Building-integrated photovoltaics are solar power-generating elements that are utilized to construct building facades, roofs, and skylights (BIPVs). These elements include, but are not limited to, photovoltaic module integration, a backup generator supply system, a charge controller, a power storage system, and other supporting equipment. BIPV materials outperform their conventional counterparts in a number of aspects, such as onsite power generation, zero emissions, significant energy savings, improved architectural integration, and ideal shading. BIPVs also reduce labor and installation costs by, among other things, replacing gable roof membranes, skylight glass, and facade cladding. Due to these advantages, building-integrated photovoltaic materials are frequently used in the manufacturing, residential, and business sectors.

In recent years, renewable energy sources have rapidly gained popularity in many regions of the world. The expansion of the building and energy sectors has also been aided by the expanding world population. One of the most significant sources of renewable energy is solar photovoltaics. Building-integrated photovoltaics are solar PV modules that are used on the building's façade, such as its roof, windows, and curtain walls. Building-integrated photovoltaics improve the building's aesthetic appeal and financial viability. Traditional building materials are being replaced in both commercial and residential construction with building-integrated photovoltaics.

Market Drivers and Restraints:

The market for building integrated photovoltaic materials is being driven by the increased integration of solar energy solutions in commercial infrastructures for architectural optimization and energy reduction. The demand for solar power generation is also rising as environmental concerns about non-renewable energy sources like coal and oil grow. Furthermore, accelerated modernization in the building and construction industry as well as a heightened emphasis on clean energy have led to an increase in demand for green or zero-emission structures. Additionally, as consumer awareness of BIPV's many environmental advantages increases, so does home use of solar energy harvesting equipment.

As national governments intensify their efforts to install solar energy panels, the sector is expected to expand during the next five years. As people become more conscious of infrastructure development, particularly energy-efficient buildings, the demand for building-integrated photovoltaics is anticipated to increase (BIPV). BIPV is a long-term and economical approach to transform the facade, increase fuel efficiency, and decrease traditional power use. Furthermore, increased consumer knowledge of the health advantages of BIPV has led to a larger home adoption of solar energy harvesting systems. The global demand for building-integrated photovoltaics market growth has also been boosted by favorable government policies, supported by a host of programs highlighting the need to minimize carbon footprints.

When using BIPV (building-integrated photovoltaics) technology, buildings stop being energy consumers and start producing energy. Building technology and BIPV technology must be coupled in order to achieve this. Photovoltaic (PV) technology is expensive and new, and it can be used for curtain walls and other structural elements. The building-integrated photovoltaics market is also anticipated to face challenges throughout the projection period in Vietnam, the Philippines, and a few African countries due to a lack of awareness and insufficient BIPV product marketing.

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The report is segmented as follows:

The Building-Integrated Photovoltaic Market is segmented by Technology; the Market is segmented by Application; the Market is segmented by End-Use:

By Technology (Crystalline Silicon, Thin Film, and Others)

By Application (Roofs, Walls, Glass, Façade, and Others)

By End-Use (Residential, Commercial, and Industrial)

Geographical Segmentation:

The Asia-Pacific area has had great success in implementing solar PV technologies in a number of sectors in the most economical way. The technology in the area is mature, and costs are still declining. In the sphere of solar power generation, nations like China, India, Japan, and ASEAN have made a name for themselves with innovative new technology for BIPV, rooftop, and a variety of other uses. More than half of the world's PV industry production for each technology was produced in China, and this trend is expected to continue in the near future. Similar patterns were present in the region's other regions.

Similar patterns were present in the region's other regions. The new Punggol campus of the Singapore Institute of Technology, which is scheduled to open in 2024, will use BIPV glass, according to AGC Inc., a Japanese glass, chemicals, and high-tech materials company, which announced this in September 2021. In September 2021, China Southeast Space Frame Group (SSFG) and the manufacturer of back sheets First PV established a new joint venture company with the goal of installing 950 MW of BIPV capacity in China during the ensuing five years. The new business's headquarters will be in the province of Zhejiang, in Hangzhou. These changes are expected to cause Asia-Pacific to see the fastest growth rate over the coming years.

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Impact of COVID-19 on the Market

The sector was unaffected by the COVID-19 pandemic, as solar PV installed capacity steadily expanded from 583.87 GW in 2019 to 709.67 GW in 2020. Due to two factors—lower energy expenses from self-power usage and a less carbon footprint for the building—the BIPV business is expected to expand quickly in the near future. The high installation cost, however, compared to rooftop PV systems, is predicted to have a negative impact on market growth.

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