(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 17, 2025 (GLOBE NEWSWIRE) -- The "Building Integrated Photovoltaics Market - Forecasts from 2025 to 2030" report has been added to ResearchAndMarkets.com's offering.
The building integrated photovoltaics market is projected to grow at a CAGR of 12.63% over the forecast period, increasing from US$6.910 billion in 2025 to US$12.526 billion by 2030.
Photovoltaics (PV) technology converts sunlight into electrical energy, and building-integrated photovoltaics (BIPV) specifically refers to PV materials that replace traditional building components like roofs, facades, and skylights to generate electricity. BIPV solutions not only facilitate solar energy generation but also contribute to reducing the carbon footprint of buildings. The market for BIPV is experiencing significant growth, driven primarily by the increasing adoption of PV technology in the residential sector. The National Renewable Energy Laboratory (NREL) reported substantial growth in the residential adoption of standalone and storage solutions of BIPV technology in California, where installations reached 8.9 MWdc in 2022. Between 2020 and 2022, residential BIPV installations grew by approximately 140%, with Tesla accounting for nearly all new residential BIPV installations in the state during that time.
Drivers of the Building Integrated Photovoltaics Market: Increasing Adoption of Photovoltaic Technology: The global uptake of photovoltaic technology has seen significant growth, driven by a shift in consumer preferences toward sustainable and renewable energy sources, particularly solar energy. As consumer preferences evolve, the demand for solar energy solutions, including BIPV technology, has surged. Favorable government policies and subsidy schemes worldwide have also played a crucial role in promoting the adoption of photovoltaics. According to SolarPower Europe, annual PV installation capacity increased by 87% globally in 2023, reaching 447 GW compared to 239 GW in 2022. China and the USA emerged as the largest solar markets with installed capacities of 253 GW and 32.4 GW, respectively.
Geographical Trends Shaping the Building Integrated Photovoltaics Market:
North America Expected to Lead Market Share: North America is projected to hold a significant share of the building-integrated photovoltaics market during the forecast period. The growth in this region is primarily attributed to increasing demand for renewable energy solutions, government incentives, and a heightened focus on sustainability. The U.S. market is particularly robust due to rising obesity rates driving consumers toward gym memberships and healthier lifestyles. The International Energy Agency (IEA) has projected an increase in renewable electricity capacity from 337.1 GW between 2023-2028 compared to 156.6 GW from 2017-2022.
Federal and state incentives such as tax credits and rebates have made BIPV systems more affordable for consumers. For instance, the Inflation Reduction Act (IRA), introduced in August 2022, aims to significantly boost funding for renewable energy over the next decade through various financial incentives, including $11.7 billion reserved for creating new loans via the Loan Programs Office (LPO). This has made utility-scale solar PV projects more accessible within the national energy mix. The Asia-Pacific region is also expected to experience substantial growth during this period due to increasing awareness of natural and organic products. The growing middle-class population with rising disposable income is creating a favorable environment for market expansion. Countries such as South Korea, Japan, China, Thailand, and India are developing their aesthetic industries, driving demand for innovative healthcare technologies like neuro-navigation systems. In summary, the building integrated photovoltaics market is set for significant growth driven by rising consumer preferences for sustainable energy solutions, increased awareness about environmental impacts, supportive government policies promoting renewable energy adoption, and substantial geographical developments - particularly within North America - that enhance this expanding market landscape.
Reasons for buying this report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub-segments. Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy. Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments. Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
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Report Coverage:
Historical data & forecasts from 2022 to 2030 Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis Competitive Positioning, Strategies, and Market Share Analysis Revenue Growth and Forecast Assessment of segments and regions including countries Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2025 - 2030 |
| Estimated Market Value (USD) in 2025 | $6.91 Billion |
| Forecasted Market Value (USD) by 2030 | $12.53 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
The building integrated photovoltaics market has been segmented as following:
By Technology Crystalline Silicone Thin Film Others
By Application By End-User Industrial Commercial Residential
By Geography North America United States Canada Mexico
South America Europe United Kingdom Germany France Spain Italy Others
Middle East and Africa Saudi Arabia UAE Israel Others
Asia Pacific Region Japan China India South Korea Indonesia Thailand Taiwan Others
Companies Profiled
TrinaSolar Co., Ltd. Kaneka Energy Management Solutions Onyx Solar Group LLC AGC Solarday Mitrex Polysolar Kyocera MetSolar SunTegra Solar Novergy Energy Solutions Pvt. Ltd. Waaree Energies Ltd. SolarScape Enterprises LLP. LONGi Jinko Solar
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