BIPV Glass Market

The global BIPV Glass Market is valued at USD 18.14 Billion in 2022 and is projected to reach a value of USD 93.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 21.45 % between 2023 and 2030.

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Building Integrated Photovoltaics BIPV Glass Market is a versatile technology that can be used in facades, skylights, roofs, windows, and canopies, among other applications. The growing need for energy-efficient and aesthetically pleasing buildings is the primary factor driving the growth of the BIPV Glass market. BIPV systems can generate up to 50% of energy needs in the United States, according to the US Department of Energy. As the price of photovoltaic modules continues to decline, demand for BIPV systems is increasing year on year. The first building project in North America to introduce BIPVs is the Innovation Center of RRC Polytech, which was completed in 2022, located in downtown Winnipeg. For the same period, this glass replaces electricity consumption by 193 megawatts per year enough to power 18.5 average-sized homes.

The building integrated photovoltaics (BIPV Glass) market is also expected to grow rapidly in the coming years, driven by the development of advanced technologies. In 2021, Vitro Architectural Glass introduced SolarvoltTM building integrated photovoltaic glass modules that combine the performance and aesthetics of vitro glass products with CO2-free energy generation and weather protection for commercial buildings. SolarvoltTM BIPV modules are one of the next steps in Vitro's portfolio expansion, as indicated by its Marketing and Innovation Director. The demand for BIPV Glass is likely to surge in residential and commercial applications due to the growing need for solar power generation.

The COVID-19 epidemic has affected the construction industry, leading to project delays and cancellations. However, the increasing focus on sustainable and environmentally friendly construction practices, combined with the potential for government regulations promoting the use of renewable energy, is expected to increase the demand for building integrated photovoltaics (BIPV Glass) market in the post-pandemic era. The growing awareness of the necessity to reduce carbon emissions and combat climate change is another factor driving market expansion.

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Key Highlights:

• Asia Pacific has generated more than 35% of its revenue share in 2022 and is expected to grow at a CAGR of 9.6% during the forecast period.
• North America is expected to witness the fastest CAGR between 2022 and 2030.
• Based on technology, the thin-film segment dominated the market and contributed over 25% of the total revenue share in 2022.
• The curtain wall sector held a substantial share of the product type segment in revenue in 2022.

In addition, advances in building integrated photovoltaics (BIPV Glass) technology have led to the development of flexible, lightweight, and transparent solar panels, which can be easily integrated into building structures. This innovation is expected to revolutionize the building materials industry, providing a new stream of revenue for BIPV Glass manufacturers and driving market expansion. Solarday, an Italian company, has introduced a glass-glass building-integrated monocrystalline PERC panel in red, green, gold, and grey. It has a power conversion efficiency of 17.98% and a temperature coefficient of -0.39% per degree Celsius. crystalline silicon products are particularly suitable for housing buildings, owing to their high-efficiency coefficients.

Economic Insights

The growth of the building-integrated photovoltaics (BIPV) glass market is supported by the growing supportive government initiatives for the adoption of solar energy panels. Initiatives are being put in place by governments to foster the transition towards clean energy and reduce reliance on non-renewable sources, e.g., coal and oil. Integrated Photovoltaics In construction a BIPV Glass is placed in buildings, helping to harvest solar energy and generate electricity. For instance, in 2021 the United States Department of Energy announced a series of new initiatives that will include 15.5 million dollars worth of new funding for supporting underrepresented communities to make their own use of solar energy.

Top Market Trends

1. Growing Demand for Semi-Transparent BIPV Glass: The Building Integrated Photovoltaic (BIPV) Glass Market is anticipated to experience significant growth over the forecast period, driven by advancements in technology, increasing demand for eco-friendly materials, and the shift toward sustainable development within the construction industry. One of the top market trends is the growing demand for semi-transparent building integrated photovoltaics (BIPV Glass) market. Semi-transparent BIPV Glass offers an optimal blend of energy generation and stylish aesthetics, making it an ideal solution for window panels, skylights, and façade claddings. These Glass systems allow for more natural light to penetrate indoor spaces while generating energy, contributing to an energy-efficient and visually appealing building design. The increasing adoption of semi-transparent BIPV Glass is due to several factors, including the growing focus on energy efficiency, the rising number of green buildings, and the increasing government initiatives toward sustainable development.
2. The Adoption of BIPV Glass in the Automotive Industry: Another top market trend is the adoption of BIPV Glass in the automotive industry. The incorporation of BIPV Glass technology in automobiles is gaining pace as manufacturers look to improve energy efficiency and decrease the carbon footprint of their vehicles. BIPV Glass can be integrated into car roof panels, sunroofs, and windows, allowing energy to be harvested from solar radiation while simultaneously enhancing the aesthetics of the vehicle. Moreover, the deployment of building integrated photovoltaics (BIPV Glass) in automobiles can reduce the usage of air conditioning systems, leading to significant energy savings. The rising demand for eco-friendly cars and the implementation of stringent environmental regulations by governments worldwide are expected to drive the growth of the BIPV Glass market in the automotive sector.

Market Segmentation

The global building integrated photovoltaics (BIPV Glass) market can be categorized on the following: Technology, Product Type, End-User, and Regions. Based on Technology, the market can be categorized by the technology used, such as Thin-Film, Crystalline Silicon, and Other Technology. Additionally, based on Product Type, the market can be split into Curtain Wall, Roof, and Facade. In addition, based on End-User, the BIPV Glass Market is segmented as Residential, Commercial, and Industrial. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Technology

Thin-Film to Account for a Higher Ratio of Sales Considering its low manufacturing cost, high efficiency, and easy installation.

Thin-film photovoltaics are made by depositing one or more thin layers of photovoltaic material, such as silicon, cadmium telluride, or copper indium gallium selenide, onto a substrate. This technology offers several advantages over traditional crystalline silicon solar cells, including lower material and manufacturing costs, flexibility, and easy integration into building materials. The demand for thin-film BIPV Glass is increasing due to the growing popularity of green buildings and sustainable construction practices. These glasses are used for various applications such as roofing, skylights, facades, and windows. The demand for thin-film BIPV Glass is highest in developed regions such as North America and Europe, with a significant emphasis on energy-efficient and environmentally friendly buildings.

Based on Product Type

Curtain Wall to Grow Rapidly as it is Increasingly Used in Commercial and Industrial Buildings

Curtain walls are the most common exterior walls in modern buildings that provide an aesthetically appealing and energy-efficient solution. BIPV Glass in curtain walls allows for the integration of solar power generation in the building façade, reducing the dependence on traditional sources of electricity. The growth of building integrated photovoltaics (BIPV Glass) in the curtain wall segment can be attributed to the rising demand for energy-efficient building solutions and increasing government initiatives to promote the use of renewable energy. Moreover, integrating BIPV Glass in curtain walls offers numerous benefits, such as reduced carbon footprint, enhanced indoor comfort, and improved aesthetic appeal.

Based on End-Use

Commercial Segment to Dominate Growth Trajectory Due to the increasing adoption of BIPV Glass in commercial buildings such as shopping malls, airports, and Hospitals

The commercial segment of the BIPV (Building Integrated Photovoltaic) glass market is expected to witness significant growth during the forecast period. Commercial buildings, including offices, retail stores, and educational institutions, increasingly incorporate BIPV Glass to reduce energy consumption and enhance building efficiency. In addition, BIPV Glass is widely used for façade and skylight applications in commercial buildings, which solarize the building and offer an aesthetic appearance. These glasses are also shading devices to control the sun's glare and heat inside the building. Moreover, the rising trend of green buildings is driving the adoption of BIPV Glass in commercial buildings. The concept of Net Zero Energy Buildings (NZEB) aims to produce as much energy as the building consumes. BIPV Glass plays a significant role in achieving NZEB and reducing carbon footprint.

Based on Region

Asia Pacific to Lead Global Sales Owing to the Increasing Demand for Energy-Efficient Buildings in Countries Like China, India, Japan, and South Korea

The Asia Pacific region is the largest region in the BIPV (Building Integrated Photovoltaic) glass market. It is estimated that this region will continue to dominate the market during the forecast period from 2023 to 2030. This domination is attributed to the increasing demand for energy-efficient buildings in countries like China, India, Japan, and South Korea. Also, favorable government initiatives to promote the use of renewable energy sources in this region are expected to drive the growth of the market. China is the most significant contributor to the growth of the BIPV Glass market in this region. The rapid urbanization in China presents an opportunity for the development of the construction and infrastructure sector, which results in increasing demand for BIPV Glass. Japan has pledged to reduce its greenhouse gas emissions by 26% by 2030 and is focused on promoting the use of renewable sources of energy, including BIPV Glass. In India, the increasing awareness about renewable energy and the need to reduce carbon emissions has led to growth in the BIPV Glass market. The Indian government is promoting the use of solar products through various schemes and programs like the 'Jawaharlal Nehru National Solar Mission' and 'Rooftop Solar Program.'

North America is experiencing rapid growth in the Building Integrated Photovoltaic (BIPV) Glass market. The region is witnessing increased adoption of renewable energy sources and government initiatives promoting sustainable construction practices. The demand for BIPV Glass is rising as it offers multiple benefits such as power generation, thermal insulation, and aesthetics. Furthermore, the growing focus on energy-efficient building solutions and the need to reduce carbon emissions are driving the market growth. Factors such as advancements in solar technology, favorable government policies, and increasing investments in building integrated solar solutions are contributing to North America's position as the fastest-growing region in the BIPV Glass market.

Competitive Landscape

Numerous international and regional actors compete fiercely on the global market. Major corporations engage in strategic alliances, mergers & acquisitions, and joint ventures to acquire a market advantage. In addition, manufacturers concentrate on capacity expansions and R&D for new product development to offer consumers products that are on trend. In May 2021, AGC Glass Europe announced the launch of its new range of solar control coated glass products, including BIPV Glass solutions, that offer high thermal insulation and low solar factor for energy-efficient buildings.

The key players in the global BIPV Glass market include - Wuxi Suntech Power Co. Ltd. (China), Borosil Renewables Ltd. (India), Tesla (U.S.), TAIYO KOGYO Corp. (Japan), Onyx Solar Group LLC (Spain), AGC Inc. (Japan), Scheuten (Netherlands), First Solar (U.S.), Sharp Corp. (U.S.), GOODWE (China), Belectric (Germany), Carmanah Technologies Corp. (Canada), Ertex Solar (Austria) among others.

Recent Market Developments

• April 2021: Onyx Solar announced the completion of a BIPV Glass project in the USA, where its custom-made photovoltaic glass modules were installed as the façade of a corporate office building, generating clean energy and reducing the carbon footprint.
• March 2021: Saint-Gobain Glass Solutions introduced its new range of SGG THERMOVIT BIPV Glass solutions that combine thermal insulation, solar shading, and power generation in a single product, suitable for sustainable architecture.
• February 2021: Tesla announced the reintroduction of its Solar Glass Roof tile system, which features solar cells integrated into the glass tiles and allows homeowners to generate their own electricity while enhancing the aesthetics of their roofs.

Segmentation of the Global BIPV Glass Market