The need for integrated photovoltaic (PV) materials has paved way for the evolution of building-integrated photovoltaic (BIPV) materials in the chemical and materials industry. BIPV roofing materials are made up of monolithically integrated photovoltaic materials through which the roofing and energy subsystems cannot be distinguished clearly. Building integrated photovoltaic materials are used in place of conventional materials in the construction of facades, skylights, and roofs.
The mounting electricity requirements of people across the world have impelled various industries to look for alternative sources of energy to fulfill their power needs. As a result, advanced building integrated photovoltaic roofing materials were developed by manufacturers of building materials to meet the energy requirement and aesthetic expectations of high-end structures and buildings.
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The report presents a detailed overview of the different applications of building integrated photovoltaic materials such as commercial buildings, residential buildings, and industrial buildings. This study also presents an insight into the various products in which building integrated photovoltaic materials are used such as windows, facades, glass, wall integrated solution, cladding, shading, glazing, and roofing. The BIPV roofing material segment dominated the global BIPV roofing market in 2015 is expected to exhibit a strong CAGR of 51% from 2016 to 2024.
The report analyzes all the key elements at play in the building integrated photovoltaic roofing market at the global as well as the regional level. The report projects the market figures and also presents an analysis of the current market situation, historical growth trajectory, and future development prospects. The study answers questions relating to the prevailing trends, key market players, strength, weakness, opportunity, and threats of the market along with the competitive landscape of the global building integrated photovoltaic roofing market.
Global BIPV Roofing Market Overview
Owing to the burgeoning demand for alternative sources of energy to power newly constructed structures and buildings, the deployment of building integrated photovoltaic roofing materials has significantly increased to construct roofs, skylines, and facades of buildings. Building integrated photovoltaic roofing materials offer advantages such as compensating the initial cost of construction through reduction of the amount being spent on construction materials.
BIPV roofing also reduces the cost incurred on labor required for construction purposes. The global building integrated photovoltaic roofing market stood at a capacity of 1,392 megawatts in 2015.
The report offers an outline on the geographical segments such as Europe, Asia Pacific, North America, and Rest of World. The deployment of building integrated roofing is anticipated to rise in these regions owing to the rise in the construction activities and the rise in solar energy consumption across various sectors. The increasing awareness regarding the benefits of BIPV roofing is further expected to attract more consumers.
However, seasonal availability of solar energy is likely to impede the growth of the global building integrated roofing market over the next couple of years. As a result of this, owners of buildings in which BIPV technology is deployed are compelled to search for potential substitutes. Nevertheless, manufacturers of BIPV roofing materials can expect to gain lucrative opportunities from the development of advanced BIPV roofing materials.
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