According to the latest market research study, the global building integrated photovoltaics market is expected to grow at a CAGR of close to 10% during the forecast period of 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global BIPV market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
|
END-USER |
MARKET SHARE 2016 (%) |
|
Commercial |
53.8% |
|
Residential |
26.9% |
|
Industrial |
19.3% |
Source: Technavio
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Global BIPV market in commercial sector: The commercial sector is a major end-user of BIP systems. The initiatives undertaken by governments are focusing on energy management system and BIPV technologies as they help improve the overall building efficiency.
“Governments are providing financial incentives for the development of alternative energy sources, such as solar, as they help curb carbon emissions. Such initiatives make the global BIPV market an attractive option for investment,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on energy storage.
Many institutions, offices, hospitals, and small- and medium-sized entrepreneurs are investing heavily in solar energy to reduce their dependency on unreliable grid power.
Global BIPV market in residential sector: Technavio expects that the residential sector will be the fastest-growing sector in the global BIPV market during the forecast period due to the benefits the system offers its end-users. Fall in the prices of solar panels and rising concerns about environmental issues are also expected to drive the demand for BIPV systems in the residential sector.
Global BIPV market in the industrial sector: BIPV systems are installed to cater to the growing need for energy conservation and the rising demand for cost-effective powering solutions. With the help of such systems, companies can create targets, monitor consumption, and reduce their energy consumption. The adoption of BIPV systems in the industrial sector has increased after the introduction of ISO 50001 in 2011.
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The top vendors operating in the global BIPV market are:
- First Solar
- Sharp Solar
- Suntech Power
- Trina Solar
- Yingli Solar
The other prominent vendors in the market include altPOWER, Ascent Solar Technologies, Canadian Solar, Centrosolar, Dyesol, ertex solar, Hanergy, Heliatek, and Scheuten.
A more detailed analysis is available in the Technavio report titled, ‘Global BIPV Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Intelligent Power Module Market 2016-2020
- Global Energy Management Systems Market 2016-2020
- Global Next-generation Building Energy Management Systems Market 2016-2020
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