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.
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Key Takeaways from the report:
- 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.
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Grand View Research has segmented the global building-integrated photovoltaics facade market on the basis of technology and region:
BIPV Facade TechnologyOutlook (Revenue, USD Million, 2014 – 2025)
- Thin Film
BIPV Facade Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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