Building-integrated Photovoltaics Facade Market Size Is Poised To Reach $3.96 Billion By 2025: Grand View Research Inc.

 

The global building-integrated photovoltaics facade market size is expected to reach USD 3.96 billion by 2025, expanding at a CAGR of 25.3% over the forecast period, according to a new report published by Grand View Research, Inc. Rising awareness among consumers from the developing economies of Asia Pacific coupled with the superior performance of the product as compared to the traditional facades is anticipated to fuel the growth.

The demand for thin film BIPV facades is estimated to witness considerable growth in the forthcoming years on account of their high performance as well as the introduction of colored BIPV panels that provide better aesthetic value to the overall structure. However, factors such as high price and longer duration for the return of investment are expected to hinder the market growth.

Increasing investments and continuous R&D in BIPV products have led to the introduction of BIPV facades with enhanced efficiency and durability. Moreover, color, ease of application, and customization options offered by the manufacturers are contributing to higher product demand in the BIPV facade market.

Building-integrated photovoltaics (BIPV) are photovoltaic (PV) modules that are either combined with the buildings during their construction or are integrated later on with the outer surface replacing the old facade. Due to technological advancements, colored panels that have high aesthetic value are being implemented on the facade of the commercial buildings. The U.S. market for BIPV façade was dominated by the Crystalline Silicon (C-Si) technology on account of the superior performance exhibited by these panels. Moreover, the growing concerns about the impact of non-renewable energy sources are likely to fuel the demand in the country.

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The demand for integration of photovoltaics with facades is driven by their installation in the commercial sector. Increased emphasis on electricity sharing coupled with high subsidies provided by governments is anticipated to facilitate photovoltaic integration over the forecast period. Furthermore, BIPV in facades is driven by the improved aesthetic appeal and a large number of customized solutions offered by the market players.

Further key findings from the report suggest:

• Crystalline silicon technology captured the highest market share in 2018 and is estimated to reach USD 2.76 billion by 2025 due to high conversion efficiency on a commercial scale
• Thin film technology is anticipated to expand at a significant CAGR of 27.3% over the forecast period due to ease of production, light weight, and flexibility during installation on curved surfaces
• Europe dominated held the leading market share of 34.8% in 2018, attributed to high product penetration due to supportive regulations set by the European Union (EU)
• Asia Pacific is estimated to be the fastest growing region and will reach USD 1.30 billion in 2025 due to increasing consumer awareness and subsidies offered by the local governments in India, China, and Japan
• Some of the prominent players operating in the building-integrated photovoltaics (BIPV) facade market include AVANCIS GmbH, Hanergy Mobile Energy Holding Group Limited, ISSOL SA, Onyx Solar Group LLC, Solaria and Nippon Sheet Glass Co., Ltd.

AGC Inc.; Nippon Sheet Glass Co. Ltd; Solaria; and Heliatek are among the prominent players operating in the market. They focus on the development of BIPV products to cater to the applications in residential, public, and commercial spaces. In November 2017, Heliatek, along with its partner LafargeHalocim, announced that they have developed a unique photovoltaic energy-generating concrete facade.

Increasing investments and continuous R&D in BIPV products have led to the introduction of BIPV facades with enhanced efficiency and durability. For instance, In September 2017, AVANCIS announced the launch of a new CIGS-based architectural PV module PowerMax SKALA. The product is developed as an energy-producing alternative to the traditional facade system.

Grand View Research has segmented the global building-integrated photovoltaics facade market on the basis of technology:

BIPV Facade TechnologyOutlook (Revenue, USD Million, 2014 - 2025)

• C-Si
• Thin Film
• Others

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.

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