Bipv Glass Market to Reach Valuation of USD 93.8 Billion by 2030 – Rising Construction of Green Buildings Drives the Market

In terms of revenue, the Global BIPV Glass Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 21.45 % from 2023 to 2030.

Several factors, such as increasing demand for renewable energy, the rising adoption of green building practices, government initiatives and favorable policies for using solar energy, and technological advancements in BIPV Glass , drive the global Building-Integrated Photovoltaic (BIPV) Glass market. One of the primary drivers of the BIPV Glass market is the increasing demand for renewable energy sources. BIPV Glass systems, which can generate electricity by harnessing solar energy, are gaining popularity as they offer the potential to meet the growing energy demand while reducing carbon emissions. Adopting green building practices is another key driver of the BIPV Glass market. Integrating BIPV Glass systems into building envelopes produces electricity and provides shade and insulation, reducing energy consumption and creating a more sustainable building design.

Key Highlights from Report:

· Among Technology, the thin-film market segment is anticipated to dominate theBIPV Glass market with the largest market share in the forecast period considering its low manufacturing cost, high efficiency, and easy installation.

· Based on Product Type, the curtain wall market segment accounted for the maximum CAGR during the forecast period because of its increasing use in commercial and industrial buildings.

· Among End-User, the commercial segment is expected to hold the largest market share due to the increasing adoption of BIPV Glass in commercial buildings such as shopping malls, airports, and hospitals.

· In terms of Region, Asia Pacific held the major market share in 2022 and is likely to be the most gainful market in the future. The growing awareness regarding the impact of climate change and the benefits of renewable energy sources has also contributed to the growth of the BIPV Glass  market in this region.

Market Dynamics:

BIPV Glass is a type of solar glass that is used in the construction of buildings as an alternative to traditional building materials. It replaces conventional building materials like bricks, concrete, and steel with solar panels that generate electricity. These solar panels are integrated into the building's envelope, such as roofs, walls, and windows, to generate renewable energy while providing the same functions as traditional building materials. The increasing demand for green buildings and sustainable construction practices is driving the growth of the BIPV Glass market. Governments around the world are promoting green building initiatives by providing tax incentives and subsidies for builders and developers who incorporate renewable energy sources into their buildings. BIPV Glass is an ideal solution for such initiatives, and therefore, the demand for this glass is growing rapidly.

The growing demand for energy-efficient buildings and initiatives towards reducing carbon emissions are also driving the BIPV Glass market. This glass helps in reducing the overall energy consumption of buildings by generating renewable energy, which is a clean and environmentally friendly source of energy. In recent years, there have been significant technological advancements in the BIPV Glass market. The development of transparent solar cells, for instance, has increased the efficiency of BIPV Glass and made it more cost-effective. The use of smart glass technology, which can change its transparency and color, is also gaining momentum in the market. These technological advancements are expected to further drive the growth of the BIPV Glass market.

However, one of the major challenges for the BIPV Glass  market is its high initial investment cost. The installation of BIPV Glass is more expensive than traditional glass and requires specialized installation. This cost can deter some consumers from adopting BIPV Glass in their construction projects. However, as technology advances and becomes more widely adopted, the initial cost is likely to decrease.

Asia Pacific BIPV Glass market is expected to witness a noteworthy development with a significant growth rate over the analysis period. This can be attributed to the increasing urbanization, rising disposable income, growing population, and increasing government support for renewable energy in countries like China, India, and Japan.  Notable industry participants like Asahi Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Saint-Gobain SA, Suntech Power Holding Co. Ltd., and Canadian Solar Inc. are anticipated to accelerate market growth in the area. Additionally, the region's large construction industry and growing demand for energy-efficient buildings also drive the market growth. North America and Europe are also significant regions in the BIPV Glass  market due to the implementation of stringent government regulations and growing awareness about sustainable living. However, the Asia Pacific region is projected to witness the fastest growth in the BIPV Glass  market during the forecast period.

The Global BIPV Glass Market is Segmented as follows

• Technology
  • Thin-Film
  • Crystalline Silicon
  • Other Technology
• Product Type
  • Curtain Wall
  • Roof
  • Facade
• End-user
  • Residential
  • Commercial
  • Industrial
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global BIPV Glass Market is

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)

The Global BIPV Glass Market Scope can be Tabulated as below