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Building Integrated Photovoltaic (BIPV) Market Size (2024 - 2029)

The Building Integrated Photovoltaics market is projected to experience significant growth over the forecast period, driven by the increasing construction of high-rise buildings and supportive government initiatives. Despite the challenge posed by the high installation costs compared to traditional rooftop PV systems, the market is poised for expansion due to opportunities presented by rapid urbanization and the development of smart cities. Governments worldwide are increasingly adopting renewable energy policies to achieve carbon neutrality, further bolstering the market. The Asia-Pacific region is anticipated to lead the market, supported by the decreasing costs of solar technology.

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Market Size of Building Integrated Photovoltaic (BIPV) Industry

Building Integrated Photovoltaic (BIPV) Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 11.84 Billion
Market Size (2029) USD 33.51 Billion
CAGR (2024 - 2029) 23.12 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Building Integrated Photovoltaic (BIPV) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Building Integrated Photovoltaic (BIPV) Market Analysis

The Building Integrated Photovoltaic Market size is estimated at USD 11.84 billion in 2024, and is expected to reach USD 33.51 billion by 2029, growing at a CAGR of 23.12% during the forecast period (2024-2029).

  • Factors such as high-rise multi-story buildings and supportive government initiatives are expected to drive the market during the forecast period.
  • On the other hand, the high installation cost compared to rooftop PV systems will likely negatively impact the market’s growth.
  • Nevertheless, the rapid urbanization and development of smart cities are enormous opportunities for BIPV systems. The governments of almost all countries are moving toward renewables-oriented energy policies to reach their carbon neutrality goals.
  • Asia-Pacific is expected to dominate the building-integrated photovoltaics market due to declining solar technology costs.

Building Integrated Photovoltaic (BIPV) Industry Segmentation

Building-integrated photovoltaics (BIPVs) are solar power-producing products or systems that are effortlessly integrated into the building envelope and parts of building apparatuses such as façades, roofs, or windows. A BIPV system serves a dual purpose and is an integral component of the building skin that concurrently converts solar energy into electrical energy.

The building-integrated photovoltaics market is segmented by type, end-user, and geography. By type, the market is segmented into thin-film PV and crystalline PV. By end-user, the market is segmented into residential and commercial and industrial. The report also covers the market size and forecasts across major regions. The market sizing and forecasts have been done for each segment based on revenue (USD).

Type
Thin-film PV
Crystalline PV
End User
Residential
Commercial and Industrial
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Turkey
Spain
NORDIC
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Nigeria
Qatar
Egypt
Rest of Middle East and Africa
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Building Integrated Photovoltaic (BIPV) Market Size Summary

The building-integrated photovoltaics (BIPV) market is poised for significant growth, driven by the increasing adoption of renewable energy solutions in urban development and smart city initiatives. The market is expected to expand substantially over the forecast period, supported by government policies favoring renewable energy and the growing trend of high-rise multi-story buildings. Despite the challenge of higher installation costs compared to traditional rooftop photovoltaic systems, the demand for BIPV is bolstered by rapid urbanization and the global shift towards carbon neutrality. The Asia-Pacific region is anticipated to lead the market, benefiting from declining solar technology costs and the region's mature solar PV industry.

Crystalline silicon technology dominates the BIPV market, with its widespread use in facades, curtain walls, and roofs due to its maturity and efficiency. This technology not only generates electricity but also enhances building performance by providing shade and improving thermal comfort. Recent developments, such as new manufacturing facilities in India and innovative product offerings from companies like Invitaic, are expected to further propel the market. The BIPV market is semi-consolidated, with key players like Onyx Solar Energy SL and AGC Inc. contributing to its growth. As BIPVs continue to gain traction, they are set to play a crucial role in promoting sustainability in the construction industry, aligning with the increasing emphasis on green building certifications and energy efficiency.

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Building Integrated Photovoltaic (BIPV) Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 High-rise Multi-story Buildings

        2. 1.5.1.2 Supportive Government Initiatives

      2. 1.5.2 Restraints

        1. 1.5.2.1 High Installation Cost as Compared to Rooftop PV Systems

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Thin-film PV

      2. 2.1.2 Crystalline PV

    2. 2.2 End User

      1. 2.2.1 Residential

      2. 2.2.2 Commercial and Industrial

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 France

        3. 2.3.2.3 United Kingdom

        4. 2.3.2.4 Turkey

        5. 2.3.2.5 Spain

        6. 2.3.2.6 NORDIC

        7. 2.3.2.7 Russia

        8. 2.3.2.8 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Malaysia

        6. 2.3.3.6 Thailand

        7. 2.3.3.7 Indonesia

        8. 2.3.3.8 Vietnam

        9. 2.3.3.9 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 South Africa

        4. 2.3.5.4 Nigeria

        5. 2.3.5.5 Qatar

        6. 2.3.5.6 Egypt

        7. 2.3.5.7 Rest of Middle East and Africa

Building Integrated Photovoltaic (BIPV) Market Size FAQs

The Building Integrated Photovoltaic Market size is expected to reach USD 11.84 billion in 2024 and grow at a CAGR of 23.12% to reach USD 33.51 billion by 2029.

In 2024, the Building Integrated Photovoltaic Market size is expected to reach USD 11.84 billion.

Building-Integrated Photovoltaics Market Report Snapshots

Building Integrated Photovoltaics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)