Building-integrated Photovoltaic (BIPV) Skylights Market Research: 2030
The global building-integrated photovoltaic skylights market size was $1,251.6 million in 2020 and is expected to reach $5,447.6 million by 2030, registering a CAGR of 15.3% from 2021 to 2030.
Building-integrated photovoltaic skylight is an application of photovoltaic that involves the installation of photovoltaic materials in the facades, curtain walls, canopies, roofs, and walls of building. Building-integrated photovoltaic skylights are capable of generating electricity as well as providing natural lighting, thermal insulation, and structural stability. building-integrated They exhibit features such as aesthetic look, increased energy efficiency, low noise level, zero carbon footprint, and free power output from the sun. They are widely adopted in residential, commercial, and industrial areas.
Increase in construction activities in various regions such as Asia-Pacific & Europe and rise in demand for high appealing designs for buildings drive the growth of the global building-integrated photovoltaic skylights market. The building-integrated photovoltaic skylights products such as solar panel, and thin film panel are widely being used in the residential, commercial, and industrial projects. This is attributed to rapid industrialization and increase in urbanization.
Limited availability of fossil fuels and implementation of stringent norms by government on reducing carbon emission create strong need for cost-efficient and energy-efficient renewable energy sources such as solar energy, which fuels the growth of the market. In addition, increase in urbanization and industrialization in the emerging countries such as Germany, France, and the U.S. propels the growth of the building-integrated photovoltaic skylights market globally. For instance, degree of urbanization in the U.S. increased by 0.4% from 2017 to 2019. Rise in disposable income of population and improvement in standard of living foster the adoption of photovoltaic skylights system in residential properties, thereby augmenting the growth of the market. For instance, disposable income of South African population grew by 1.6% from 2019 to 2020. Rise in construction of commercial buildings & industrial buildings is further expected to boost the growth of the market in France. The commercial construction industry in France is expected to reach $227.7 billion by 2024, with a CAGR of 3.8%. These scenarios are favorable for growth of the market in the region during the forecast period.
By Type
Thin Film Panel segment is projected to grow at a highest CAGR
The major players such as Wuxi Suntech Power Co Ltd. and Solaria Corporation are adopting business expansion and product launch as their key development strategies to improve the geographical presence of the photovoltaic skylight products. For instance, in September 2019, Solaria Corporation launched a new higher version of leading solar panel named as Solaria PowerXT 370 HP. It has power range of 370 Watts.
It is best suitable for residential and commercial spaces.
However, fluctuation in raw material prices and unreliability in harsh weather condition are anticipated to hamper the growth of the global building-integrated photovoltaic skylights market. Conversely, increase in construction of green buildings is anticipated to provide lucrative opportunities for the growth of the global building-integrated photovoltaic skylights market.
By Application
Commercial segment holds dominant position in 2020
Segmental Overview
The global building-integrated photovoltaic skylights market is segmented into type, application, construction, and region. On the basis of type, the market is fragmented into crystalline panel and thin film panel. The crystalline panel segment dominated the market in 2020. Depending on application, the market in segregated into residential, commercial, and industrial. The commercial segment registered the highest growth in 2020. By construction, the market is fragmented into new construction and renovation. Renovation was the prominent segment in 2020.
Regionally, the global building-integrated photovoltaic skylights market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Europe generated the highest revenue in 2020.
By Construction
Renovation segment holds dominant position in 2020
Competition Analysis
The key players profiled in the market report include EnergyGlass, ClearVue Technologies Limited, Kaneka Corporation, ML System S.A., Onyx Solar Group LLC, Norsk Hydro ASA, Polysolar Ltd., Super Sky Products Enterprises LLC, Wuxi Suntech Power Co Ltd., and Solaria Corporation.
Major players are adopting business expansion and product launch as key developmental strategies to improve the product portfolio of the global building-integrated photovoltaic skylights market. For instance, in August 2020, Wuxi Suntech Power Co Ltd. opened a new manufacturing facility in China. The business expansion was done for around $101.2 million. The business expansion was done for improve the product portfolio of photovoltaic shading products.
By Region
Europe holds a dominant position in 2020 and Asia-Pacific is expected to grow at a significant rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging global building-integrated photovoltaic skylights market trends and dynamics.
- In-depth market analysis is conducted between 2020 and 2030.
- Extensive analysis of the global building-integrated photovoltaic skylights market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global building-integrated photovoltaic skylights market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within the building-integrated photovoltaic skylights market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook.
Building-integrated Photovoltaic (BIPV) Skylights Market Report Highlights
| Aspects | Details |
 By Type |
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 By APPLICATION |
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 By CONSTRUCTION TYPE |
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 By Region |
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 Key Market Players | Wuxi Suntech Power Co Ltd., ClearVue Technologies Limited, Onyx Solar Group LLC, ML System S.A., EnergyGlass, Kaneka Corporation, Super Sky Products Enterprises LLC, Norsk Hydro ASA, Solaria Corporation, Polysolar Ltd. |
Analyst Review
The growth in the residential and commercial construction activities and rise in government support for construction and renovation activities, which fuels the global building-integrated photovoltaic skylights market. In addition, rise in spending on commercial and residential construction activities fuels the demand for photovoltaic skylights, thereby driving the growth of the global building integrated photovoltaic skylights market.
Increase in spending on residential and commercial construction industry, which supplements the growth of the global building-integrated photovoltaic skylights market. In addition, tourism in various countries such as India, China, and Brazil, which drives the growth of the global building-integrated photovoltaic skylights market. For instance, in Brazil, according to the Worldbank Group, the government increased its allocation toward tourism sector, which is expected to grow at a rate of 1.48% from 1995 to 2028. China and India are expected to witness increase in new construction activities, which is expected to propel the installation of building-photovoltaic skylights market.
Silicon, gallium arsenide, metal chalcogenides are some of the materials used in the manufacturing of integrated photovoltaic skylights products, which required high cost, thus restraining for the growth of the global integrated-photovoltaic skylights market. Moreover, rise in environment concerns and increase in construction of green buildings are anticipated to provide lucrative opportunities for the growth of the global building integrated photovoltaic skylights market.
The global building integrated photovoltaic skylights market size was valued at $1,251.6 million in 2020.
Based on type, crystalline panel segment holds the maximum market share of the global building integrated photovoltaic skylights market in 2020.
The global building integrated photovoltaic skylights market is projected to reach $5,447.6 million by 2030.
The urbanization and growing investment in the road and infrastructure sector are the key trends in the global building integrated photovoltaic skylights market.
The product launch is key growth strategy of Global building integrated photovoltaic skylights industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
High fluctuation in raw material cost are the effecting factors for Global building integrated photovoltaic skylights market.
The different applications of building integrated photovoltaic skylights system include its installation in commercial, residential, and industrial spaces.
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