The global building-integrated photovoltaics (BIPV) market is poised for substantial growth, anticipating a remarkable 21% value Compound Annual Growth Rate (CAGR) from 2022 to 2032.
The building-integrated photovoltaics market is anticipated to expand at a 21% value CAGR between 2022 and 2032. This market is predicted to have grown significantly from its projected $16.5 billion global market size in 2021 to a total of $134.31 billion by 2032.
Integrated with structure Since PV (photovoltaic) capacity is increasing quickly in many countries and demand for renewable energy is rising, the photovoltaics industry is predicted to grow dramatically.
Among the countries that have voluntarily accepted the Kyoto Protocol, a plan to reduce greenhouse gas emissions, are Italy, Germany, France, the United States, China, Japan, and India. Important contributing factors include self-sufficiency, improved public understanding of energy security, and sound public policy.
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Key Takeaways from the Market Study
“With strict regulations towards the green building movement and the increasing demand from eco-conscious consumers, the demand for Building-integrated Photovoltaics is increasing globally at a rapid pace. This is also being supported by various government regulations to promote the use for enhanced sustainability and better energy efficiency. New technological development in this field is sure to open up new avenues for the manufacturers in the future,”
Competitive Landscape
As a way to gain more market penetration and meet the changing needs of architects and construction contractors, Building-integrated Photovoltaics manufacturers have developed multiple joint ventures, partnerships, agreements, and collaborations.
Key Players
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Key Segments Covered In The Building-Integrated Photovoltaics Market Report
Building-integrated Photovoltaics Market by Technology:
Building-integrated Photovoltaics Market by Application Type:
Building-integrated Photovoltaics Market by End-User:
Building-integrated Photovoltaics Market by Region:
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Future Market Insights (FMI), an ESCOMAR certified market research and consulting firm, has published an in-depth report on the Building-Integrated Photovoltaics (BIPV) Market. The report predicts a promising future for the BIPV market, with a surge in global revenue in the coming years. It explores the top regions contributing to market growth, key players and their market share, driving factors, and challenges faced by the industry. The study emphasizes the significant role of BIPV in sustainable energy solutions and highlights opportunities for businesses seeking to invest in this dynamic sector.
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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Feb 20, 2024