Learn details of the Building Integrated Photovoltaics (BIPV) Market
Global Building Integrated Photovoltaics (BIPV) Market: Overview
The conventional building materials that are in parts of the infrastructure such as the skylights, roof, or facades are replaced by photovoltaic materials that are known as building-integrated photovoltaics (BIPV). They are being widely adopted in the construction of new buildings as a chief source of electrical power. Owing to the numerous advantages that are provided by BIPV it has become the fastest-growing segment of the photovoltaic industry.
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Global Building Integrated Photovoltaics (BIPV) Market: Segmentation
The building integrated photovoltaics (BIPV) market is globally segmented into application, technology, procedure, and regions. On the basis of application, the global market is segregated into industrial buildings, commercial buildings, and residential buildings. Based on the technology, the market is categorized into crystalline silicon PV and thin film PV. Depending on the procedure, the market is divided into roofing, cladding, glazing, shading, wall integrated, glass, and facades. The geographical segmentation of the BIPV market is diversified into Europe, Asia Pacific, North America, and Rest of the World.
Global Building Integrated Photovoltaics (BIPV) Market: Growth Factors
The chief drivers of the building integrated photovoltaics market growth are the immense government support and the promotion strategies that are adopted by them in order to encourage energy conservation. Higher energy efficiency is ensured owing to the installation of BIPVs, which is the prime factor triggering its uptake across residential, commercial, and industrial sectors. In order to encourage the use of building integrated photovoltaics, governments of promising nations are offering several economic and financial benefits, thus expecting significant growth opportunities for the BIPV market. The improved efforts by the government agencies to persuade the use of solar energy among an increasing number of consumers are propelling the market growth. Furthermore, the diverse uses of BIPV modules along with technological advancements, expects the market to witness immense opportunities in the coming years. Conversely, BIPVs installation requires high initial investment. The technology that is used depends on the various measurements and building codes. Lack of expertise and knowledge to guess the same is a chief restraint for the market.
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Global Building Integrated Photovoltaics (BIPV) Market: Regional Analysis
The BIPV market in the Asia Pacific region expects to display the highest growth owing to factors such as constructive regulations for the increased use of integrated photovoltaics for energy generation along with the increased disposable income. Growing adoption of solar energy along with the rapidly rising construction sector in the developing economies such as India and China expects to propel market growth in the coming years. In Germany the BIPV market witnessed a strong growth owing to the favorable regulations imposed by the European Commission in regards to the use of BIPV. The reduction in the tax and the growing subsidies presented by governments expect to drive the demand of BIPV market.
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Global Building Integrated Photovoltaics (BIPV) Market: Competitive Players
Some of the key market players that are involved in the building-integrated photovoltaics market include CentroSolar AG., Schott Solar Ag., DOW Solar, First Solar, United Solar Ovonic, Wurth Solar GmbH., Ascent Solar Technologies Inc., PowerFilm Inc., Suntech Power Holdings Co. Ltd., Dyesol Ltd., and Kyocera Corp.
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