Summary

The building integrated photovoltaic market is expected to grow from an estimated USD 12.49 billion in 2024 to USD 27.41 billion by 2029, at a CAGR of 17.0% during the forecast period. Environmental restrictions on carbon reduction are becoming more stringent across the world, and governments are rewarding this, giving a boost to numerous goods and technologies, like BIPV systems, for sustainable construction practices. Improved efficiency, flexibility, and aesthetic aspects in photovoltaic technology are making BIPV products more viable for home and commercial applications. These are the key factors driving the growth of the building integrated photovoltaic market. “Thin Film, by technology segment to be the fastest-growing market from 2024 to 2029” Thin-film solar cells permit a large degree of flexibility, which allows them to integrate into much more surfaces and architectural designs, including curved or irregular surfaces, which is a demand that becomes more frequent in modern building designs. Being lighter than crystalline silicon, thin-film panels are easier to install on various structures without significant structural reinforcement. Their sleek, low-profile design also enhances the aesthetic appeal of buildings. Thin film technology works better in low-light conditions and with varied angles of sunlight, so it is more suitable for any urban setting where buildings may not always be exposed to direct sunlight throughout the day. It can be observed that thin-film solar cells have a lower temperature coefficient compared to crystalline silicon, which essentially means they have less efficiency loss at higher temperatures. This characteristic is particularly advantageous in hot climates. “Facades, by application, is expected to be the fastest-growing market from 2024 to 2029” Facades have a larger and more vertical surface area than roofing, allowing them to capture sunlight throughout the day at a variety of angles. This may be particularly relevant in urban locations where roof space is relatively small. Having innovative facades that are able to integrate photovoltaic cells in such a way that they enhance the aesthetic appeal of a building while carrying out their practical function of energy generation may speak well to architects and developers. BIPV systems in building facades—aside from their insulation, which contributes to an energy-efficient reduction of both heating and cooling loads—have the added ability to generate electricity, thus being cost-effective for energy management. Looking at the high rise of buildings in cities, the façade is a gigantic, unexploited field of potential for the integration of solar technology, as most buildings have very small roof surfaces but very large vertical fields. “Residential segment, by end user, is expected to be the fastest-growing market from 2024 to 2029” Homeowners are more sensitive to environmental impact that comes from the consumption of energy. This drives the demand for sustainable energy solutions; hence BIPV, which enables the production of clean energy straight from their homes. For residential consumers, ways of reducing or minimizing the energy bills under relentless upward pressure in terms of the cost of energy used have been a front-burner concern. The BIPV system makes it a long-term solution since a home can independently produce a huge electric power amount that greatly reduces expenses on utilities. BIPVs are designed to fit various building materials; hence, it is also a friendly aesthetic option to homeowners for whom the appearance of their homes is critical. As consumer behavior is growing pro-environment, residential consumers now also wish to fulfill an inner whim of cutting on their carbon footprint. BIPV enables householders to contribute towards reduced greenhouse gas emission while using clean, renewable energy. “Asia Pacific is expected to be the fastest-growing region in the building integrated photovoltaic market.” These countries in the Asia Pacific region are urbanizing at a rapid rate and have new construction markets on a large scale, hence providing much potential for integration of BIPV systems in modern buildings to meet their energy demands in a sustainable way. Another reason is that, in countries like the Asia Pacific region, especially China, Japan, and India, a lot of encouraging policies and financial incentives have been worked out in support of renewable energy and green building technologies, including BIPV. Strong economic growth in Asia Pacific countries drives investments into infrastructure and real estate development. On its side, such growth supports the adoption of state-of-the-art technologies like BIPV in new buildings. As a leading innovation hub for photovoltaic technologies, major manufacturers from the Asia Pacific region keep coming up with advanced BIPV technology, hence making it more efficient and attractive. Ambitious targets in the diffusion of renewable energy set by countries in this region are viewed as a way in which BIPV systems will spur growth in the market. Growing awareness about climate change and environmental sustainability influences building practices. The regional efforts to reduce carbon footprint and green building practices are aligned with the BIPV systems. Breakdown of Primaries: The key players in the market were identified through secondary research, and their market share in the respective regions was obtained through both, primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and in-depth interviews for key insights with industry leaders such as chief executive officers, vice presidents, directors, sales managers, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This study determined and confirmed the exact sizes of the parent market and each market through the data triangulation process and the validation of data through primaries. By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15% By Designation: C-Level- 35%, Director Level- 25%, and Others- 40% By Region: North America – 25%, Europe – 25%, Asia Pacific – 30%, and Rest of the World – 20% Note: Other designations include sales managers, marketing managers, product managers, and product engineers. The tier of the companies is defined based on their total revenue as of 2023. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:

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Table of Contents

1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 MARKET DEFINITION 23
1.3 INCLUSIONS AND EXCLUSIONS 23
1.4 MARKET SCOPE 24
1.4.1 BUILDING INTEGRATED PHOTOVOLTAIC MARKET SEGMENTATION 24
1.4.2 YEARS CONSIDERED 25
1.5 CURRENCY CONSIDERED 25
1.6 LIMITATIONS 25
1.7 STAKEHOLDERS 26
1.8 SUMMARY OF CHANGES 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH APPROACH 27
2.2 DATA TRIANGULATION 28
2.2.1 PRIMARY AND SECONDARY RESEARCH 29
2.2.1.1 Secondary data 29
2.2.1.2 List of major secondary sources 29
2.2.1.3 Key data from secondary sources 29
2.2.2 PRIMARY DATA 29
2.2.2.1 List of primary interview participants 30
2.2.2.2 Key primary insights 30
2.2.2.3 Breakdown of primaries 31
2.3 MARKET SIZE ESTIMATION METHODOLOGY 32
2.3.1 BOTTOM-UP APPROACH 32
2.3.2 TOP-DOWN APPROACH 33
2.4 DEMAND-SIDE ANALYSIS 34
2.4.1 DEMAND-SIDE METRICS 34
2.4.1.1 Assumptions for demand-side analysis 34
2.4.1.2 Calculations for demand-side analysis 35
2.5 SUPPLY-SIDE ANALYSIS 35
2.5.1 ASSUMPTIONS FOR SUPPLY-SIDE ANALYSIS 35
2.5.2 CALCULATIONS FOR SUPPLY-SIDE ANALYSIS 36
2.5.3 MARKET GROWTH RATE FORECAST 37
2.6 RESEARCH LIMITATIONS 37
2.7 RISK ANALYSIS 37
3 EXECUTIVE SUMMARY 38
4 PREMIUM INSIGHTS 42
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BUILDING INTEGRATED
PHOTOVOLTAIC MARKET 42
4.2 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY REGION 43
4.3 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY TECHNOLOGY 43
4.4 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY APPLICATION 44
4.5 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY END USER 44
4.6 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY END USER AND COUNTRY 45
5 MARKET OVERVIEW 46
5.1 INTRODUCTION 46
5.2 MARKET DYNAMICS 46
5.2.1 DRIVERS 47
5.2.1.1 Government incentives, technology advancement, and decentralization of energy generation 47
5.2.1.2 Urbanization and development of smart cities 48
5.2.1.3 Rising demand for solar energy and innovative integration 48
5.2.2 RESTRAINTS 49
5.2.2.1 Complexity in installation and integration 49
5.2.3 OPPORTUNITIES 49
5.2.3.1 Technological advancements enhancing efficiency and aesthetics 49
5.2.3.2 Increasing solar installations in residential and commercial sectors 49
5.2.4 CHALLENGES 50
5.2.4.1 Lack of awareness and knowledge 50
5.2.4.2 High initial costs of building integrated photovoltaics 50
5.2.4.3 Lack of tile uniformity and solar intermittency 51
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES 51
5.4 SUPPLY CHAIN ANALYSIS 52
5.5 GLOBAL MACRO-ECONOMIC OUTLOOK 53
5.6 ECOSYSTEM ANALYSIS 54
5.7 CASE STUDY ANALYSIS 55
5.7.1 INNOVATIVE BIPV INTEGRATION AT SIECT: BALANCING AESTHETICS, EFFICIENCY, AND SEASONAL PERFORMANCE IN SOUTH KOREA 55
5.7.2 BOOSTING BIPV ADOPTION IN GHANA: THE IMPACT OF AWARENESS CAMPAIGNS AND AESTHETIC PREFERENCES 55
5.7.3 ADVANCING INTEGRATED PHOTOVOLTAICS: THE SEAMLESS-PV PROJECT'S ROLE IN SUPPORTING EUROPEAN GREEN DEAL 56
5.8 INVESTMENT AND FUNDING SCENARIO 57
5.9 TECHNOLOGY ANALYSIS 57
5.9.1 KEY TECHNOLOGIES 57
5.9.1.1 Crystalline silicon 57
5.9.1.2 Thin film 57
5.9.1.3 Organic photovoltaic 58
5.9.2 COMPLEMENTARY TECHNOLOGIES 58
5.9.2.1 Passivated emitter and rear contact (PERC) 58
5.9.2.2 TOPCon 59
5.9.2.3 Heterojunction 59
5.9.3 ADJACENT TECHNOLOGIES 59
5.9.3.1 Bifacial solar 59
5.9.3.2 Perovskite 60
5.10 TRADE ANALYSIS 60
5.10.1 HS CODE 854143 60
5.10.1.1 Export scenario 60
5.10.1.2 Import scenario 61
5.10.2 HS CODE 854142 62
5.10.2.1 Export scenario 62
5.10.2.2 Import scenario 63
5.11 PATENT ANALYSIS 65
5.11.1 LIST OF MAJOR PATENTS 66
5.12 KEY CONFERENCES AND EVENTS 70
5.13 PRICING ANALYSIS 71
5.13.1 AVERAGE SELLING PRICE TREND, BY REGION (USD) 71
5.13.2 AVERAGE SELLING PRICE OF PV MODULES OFFERED BY MARKET
PLAYERS, BY END USER 71
5.14 REGULATORY LANDSCAPE 72
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND
OTHER ORGANIZATIONS 72
5.14.2 REGULATORY LANDSCAPE 76
5.14.3 REGULATORY CODES 78
5.15 PORTER'S FIVE FORCES ANALYSIS 81
5.15.1 THREAT OF SUBSTITUTES 82
5.15.2 BARGAINING POWER OF SUPPLIERS 82
5.15.3 BARGAINING POWER OF BUYERS 82
5.15.4 THREAT OF NEW ENTRANTS 82
5.15.5 INTENSITY OF COMPETITIVE RIVALRY 82
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA 83
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS 83
5.16.2 BUYING CRITERIA 84
5.17 IMPACT OF GENERATIVE AI/AI IN BUILDING INTEGRATED PHOTOVOLTAIC MARKET 84
5.17.1 ADOPTION OF GENERATIVE AI/AI IN BUILDING INTEGRATED
PHOTOVOLTAIC MARKET 85
5.17.2 IMPACT OF GENERATIVE AI/AI 85
5.17.3 IMPACT OF AI ON BUILDING INTEGRATED PHOTOVOLTAIC
MARKET, BY REGION 86
 
6 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY TECHNOLOGY 87
6.1 INTRODUCTION 88
6.2 CRYSTALLINE SILICON 89
6.2.1 EFFICIENCY, RELIABILITY, AND VERSATILITY FUELING DEMAND
FOR CRYSTALLINE SILICON 89
6.2.2 MONOCRYSTALLINE 89
6.2.3 POLYCRYSTALLINE 89
6.3 THIN FILM 91
6.3.1 OFFERS FLEXIBLE AND COST-EFFECTIVE SOLUTIONS FOR
SOLAR ENERGY GENERATION 91
6.3.2 THIN FILM A-SI PV PANEL 91
6.3.3 THIN FILM CDTE PV PANEL 92
6.3.4 THIN FILM CIGS PV PANEL 92
6.3.5 CONCENTRATED PV PANELS 92
7 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY APPLICATION 94
7.1 INTRODUCTION 95
7.2 ROOFING 96
7.2.1 ROOFING TO BE LARGEST APPLICATION OF BUILDING INTEGRATED PHOTOVOLTAICS 96
7.2.1.1 Tiles 97
7.2.1.2 Shingles 97
7.2.1.3 Skylights 98
7.2.1.4 Laminates 98
7.2.1.5 Metal seam 98
7.3 FACADES 99
7.3.1 ASIA PACIFIC TO BE LARGEST MARKET FOR BUILDING INTEGRATED PHOTOVOLTAIC IN FACADES APPLICATION 99
7.3.1.1 Windows 100
7.3.1.2 Curtain walls 100
7.3.1.3 Awnings 100
7.3.1.4 Other facades 100
7.4 EXTERNALLY INTEGRATED SYSTEMS 101
7.4.1 INCREASED INTEGRATION OF BIPV SOLUTION INTO CANOPIES, BALUSTRADES, AND SHADING TO PROPEL MARKET 101
7.4.1.1 Shading 101
7.4.1.2 Balustrades 102
7.4.1.3 Canopy 102
8 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY END USER 103
8.1 INTRODUCTION 104
8.2 RESIDENTIAL 105
8.2.1 RESIDENTIAL SEGMENT TO BE FASTEST-GROWING END USER OF BUILDING INTEGRATED PHOTOVOLTAICS 105
8.3 COMMERCIAL 106
8.3.1 INCREASINGLY STRINGENT ENVIRONMENTAL REGULATIONS TO SUPPORT MARKET GROWTH IN COMMERCIAL SECTOR 106
8.4 INDUSTRIAL 107
8.4.1 ASIA PACIFIC TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD 107
9 BUILDING INTEGRATED PHOTOVOLTAIC MARKET, BY REGION 109
9.1 INTRODUCTION 110
9.2 NORTH AMERICA 111
9.2.1 US 114
9.2.1.1 Growing awareness and government incentives to boost BIPV market 114
9.2.2 CANADA 115
9.2.2.1 Increased awareness and technological advancements to support market growth 115
9.2.3 MEXICO 116
9.2.3.1 Growing interest in solar energy and supportive regulations to contribute to market growth 116
9.3 EUROPE 117
9.3.1 GERMANY 121
9.3.1.1 Expansion of overall solar energy sector to support market growth 121
9.3.2 ITALY 122
9.3.2.1 Increase in price of conventional energy to drive demand for
solar energy 122
9.3.3 NETHERLANDS 123
9.3.3.1 Urban renewal and technological advancements driving
demand for building integrated photovoltaics 123
9.3.4 SPAIN 124
9.3.4.1 Growing research & development activities to contribute to
market growth 124
9.3.5 FRANCE 125
9.3.5.1 Significant investments and innovation to drive demand in Spain 125
9.3.6 SWITZERLAND 126
9.3.6.1 High energy costs and stringent regulations to support market growth 126
9.3.7 REST OF EUROPE 127
9.4 ASIA PACIFIC 127
9.4.1 CHINA 131
9.4.1.1 China to lead building integrated photovoltaics market in Asia Pacific 131
9.4.2 JAPAN 132
9.4.2.1 Government incentives and favorable geographical conditions
to support market growth 132
9.4.3 SOUTH KOREA 133
9.4.3.1 Smart city projects and government policies to fuel demand 133
 
9.4.4 AUSTRALIA 134
9.4.4.1 High solar potential, rising electricity costs, and innovative
BIPV advancements to propel market 134
9.4.5 REST OF ASIA PACIFIC 135
9.5 REST OF THE WORLD 136
9.5.1 SOUTH AMERICA 139
9.5.1.1 Investments in solar energy projects to fuel market growth 139
9.5.2 MIDDLE EAST & AFRICA 140
9.5.2.1 Investments in solar energy to support market for building integrated photovoltaic systems 140
10 COMPETITIVE LANDSCAPE 142
10.1 OVERVIEW 142
10.2 STRATEGIES ADOPTED BY KEY PLAYERS 142
10.3 MARKET SHARE ANALYSIS 143
10.4 REVENUE ANALYSIS 146
10.5 COMPANY VALUATION AND FINANCIAL METRICS 146
10.6 BRAND/PRODUCT COMPARISON 147
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 148
10.7.1 STARS 148
10.7.2 EMERGING LEADERS 148
10.7.3 PERVASIVE PLAYERS 148
10.7.4 PARTICIPANTS 148
10.7.5 COMPANY FOOTPRINT, KEY PLAYERS, 2023 150
10.7.5.1 Company footprint 150
10.7.5.2 Region footprint 152
10.7.5.3 Technology footprint 153
10.7.5.4 Application footprint 154
10.7.5.5 End user footprint 155
10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 156
10.8.1 PROGRESSIVE COMPANIES 156
10.8.2 RESPONSIVE COMPANIES 156
10.8.3 DYNAMIC COMPANIES 156
10.8.4 STARTING BLOCKS 156
10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 158
10.8.5.1 List of key startups/SMEs 158
10.8.5.2 Competitive benchmarking of key startups/SMEs 158
10.9 COMPETITIVE SCENARIO AND TRENDS 159
10.9.1 PRODUCT LAUNCHES 159
10.9.2 DEALS 160
10.9.3 OTHER DEVELOPMENTS 161
 
11 COMPANY PROFILES 162
11.1 KEY COMPANIES 162
11.1.1 LONGI 162
11.1.1.1 Business overview 162
11.1.1.2 Products/Services/Solutions offered 163
11.1.1.3 Recent developments 164
11.1.1.3.1 Deals 164
11.1.1.3.2 Expansions 165
11.1.1.4 MnM view 165
11.1.1.4.1 Key strategies 165
11.1.1.4.2 Strategic choices 165
11.1.1.4.3 Weaknesses and competitive threats 165
11.1.2 JINKOSOLAR 166
11.1.2.1 Business overview 166
11.1.2.2 Products/Services/Solutions offered 167
11.1.2.3 Recent developments 168
11.1.2.3.1 Deals 168
11.1.2.4 MnM view 168
11.1.2.4.1 Key strategies 168
11.1.2.4.2 Strategic choices 168
11.1.2.4.3 Weaknesses and competitive threats 168
11.1.3 JA SOLAR TECHNOLOGY CO., LTD. 169
11.1.3.1 Business overview 169
11.1.3.2 Products/Services/Solutions offered 170
11.1.3.3 MnM view 170
11.1.3.3.1 Key strategies 170
11.1.3.3.2 Strategic choices 170
11.1.3.3.3 Weaknesses and competitive threats 170
11.1.4 AGC INC. 171
11.1.4.1 Business overview 171
11.1.4.2 Products/Services/Solutions offered 172
11.1.4.3 Recent developments 173
11.1.4.3.1 Deals 173
11.1.4.3.2 Other developments 173
11.1.4.4 MnM view 174
11.1.4.4.1 Key strategies 174
11.1.4.4.2 Strategic choices 174
11.1.4.4.3 Weaknesses and competitive threats 174
11.1.5 CANADIAN SOLAR 175
11.1.5.1 Business overview 175
11.1.5.2 Products/Services/Solutions offered 176
 
11.1.5.3 Recent developments 177
11.1.5.3.1 Expansions 177
11.1.5.3.2 Other developments 177
11.1.5.4 MnM view 178
11.1.5.4.1 Key strategies 178
11.1.5.4.2 Strategic choices 178
11.1.5.4.3 Weaknesses and competitive threats 178
11.1.6 SOLARSCAPE ENTERPRISES LLP 179
11.1.6.1 Business overview 179
11.1.6.2 Products/Services/Solutions offered 179
11.1.7 TESLA 180
11.1.7.1 Business overview 180
11.1.7.2 Products/Services/Solutions offered 181
11.1.8 KANEKA CORPORATION 182
11.1.8.1 Business overview 182
11.1.8.2 Products/Services/Solutions offered 183
11.1.8.3 Recent developments 184
11.1.8.3.1 Deals 184
11.1.9 RISEN ENERGY CO., LTD. 185
11.1.9.1 Business overview 185
11.1.9.2 Products/Services/Solutions offered 186
11.1.9.3 Recent developments 186
11.1.9.3.1 Product launches 186
11.1.9.3.2 Deals 187
11.1.10 WAAREE ENERGIES LTD. 188
11.1.10.1 Business overview 188
11.1.10.2 Products/Services/Solutions offered 188
11.1.11 CHINT NEW ENERGY TECHNOLOGY CO., LTD. 189
11.1.11.1 Business overview 189
11.1.11.2 Products/Services/Solutions offered 189
11.1.12 TALESUN SOLAR CO., LTD. 190
11.1.12.1 Business overview 190
11.1.12.2 Products/Services/Solutions offered 191
11.1.13 BIPVCO 192
11.1.13.1 Business overview 192
11.1.13.2 Products/Services/Solutions offered 192
11.1.14 ISSOL SA 193
11.1.14.1 Business overview 193
11.1.14.2 Products/Services/Solutions offered 193
11.1.15 ONYX SOLAR GROUP LLC 194
11.1.15.1 Business overview 194
11.1.15.2 Products/Services/Solutions offered 194
11.1.16 CERTAINTEED, LLC 195
11.1.16.1 Business overview 195
11.1.16.2 Products/Services/Solutions offered 195
11.1.17 VITRO ARCHITECTURAL GLASS 196
11.1.17.1 Business overview 196
11.1.17.2 Products/Services/Solutions offered 196
11.2 OTHER PLAYERS 197
11.2.1 NOVERGY ENERGY SOLUTIONS PVT. LTD. 197
11.2.2 AVANCIS GMBH 198
11.2.3 WUXI SUNTECH POWER CO., LTD. 199
11.2.4 METSOLAR 200
11.2.5 ERTEX SOLAR 201
11.2.6 MIASOLÉ 202
11.2.7 HELIATEK 203
11.2.8 SOLITEK 204
11.2.9 CHANGZHOU ALMADEN CO., LTD. 205
12 APPENDIX 206
12.1 INSIGHTS FROM INDUSTRY EXPERTS 206
12.2 DISCUSSION GUIDE 206
12.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 211
12.4 CUSTOMIZATION OPTIONS 213
12.5 RELATED REPORTS 213
12.6 AUTHOR DETAILS 214