The global BIPV and BIOPV market size is expected to reach
USD 31.14 billion by 2024, according to a new report by Grand View Research,
Inc. Rising adoption of energy generation by renewable sources without
comprising on the aesthetic appeal of buildings is expected to drive growth
over the forecast period.
Increasing demand for integrated installations is expected
to be driven by the growing disposable income of the consumers. In addition,
rising concerns regarding averse environmental impact due to the use of
non-renewable energy sources are likely to account for the growth of the
industry over the next eight years.
The industry has witnessed increased adoption of the
environment-friendly energy sources by the multi-national corporations to limit
the carbon footprints. In addition, growing subsidies and tax reductions
offered by the national governments is expected to bolster the demand for the
product.
The demand for the product has stemmed from the increased
adoption of the integrated roofs, walls and windows owing to superior aesthetic
properties. In addition, the industry has witnessed increased efforts towards
the research & development activities leading to the development of
magnetic nanoparticles incorporated solar cells, leading to an enhanced
efficiency of the overall installation.
Browse full research report on BIPV Market: http://www.grandviewresearch.com/industry-analysis/building-integrated-photovoltaics-bipv-market
Further key findings from the report suggest
- Building
integrated roofs accounted for over 61% of the overall revenue due to
superior efficiency of the roof-integrated systems. In addition, improved
aesthetic appeal coupled with the ease of the integration of the solar
energy harnessing systems for rooftop installations.
- Thin-film
building integrated photovoltaics is expected to witness highest CAGR of
over 20% from 2016 to 2024 due to superior integration with the building
envelopes in comparison to the crystalline silicon.
- The
thin film is expected to grow owing to significant technology advancements
leading to improved performance efficiency as well as superior aesthetic
appeal as compared to its counterparts.
- The
market in Asia Pacific is expected to account for USD 7.48 Billion by 2024
due to increasing demand for the technology from the rapidly developing
building and construction industry in the region.
- The
companies in the market are involved in significant research &
development activities to produce advanced products, in a bid to increase
the market share. Heliatek GmbH introduced the organic building integrated
photovoltaic cells, with high band gap resulting in superior efficiency.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented the global BIPV market on
the basis of technology, application, end-use and region:
- Technology
Outlook (Revenue, USD Million, 2013 - 2024)
- Crystalline
Silicon (C-Si)
- Thin
Film
- Others
- Application
Outlook (Revenue, USD Million, 2013 - 2024)
- Roofs
- Walls
- Glass
- Facade
- Others
- End-Use
Outlook (Revenue, USD Million, 2013 - 2024)
- Residential
- Commercial
- Industrial
- Regional
Outlook (Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Latin
America
- Middle
East & Africa
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-building-integrated-photovoltaics-bipv-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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