BIPV Glass Market Forcasted for Accelerated Growth by 2024

Global BIPV Glass Market: Overview

BIPV stands for building integrated photovoltaic. It is mainly panes of glass with embedded photovoltaic cells between two glass sheets. BIPV glass is used to make construction parts such as atrium roof, skylights, curtain walls, and facades. BIPV glass resists harmful radiation and allows entry of clean energy. This glass is sound and heat resistant in nature and allows entry of natural light. BIPV glass supports electricity generation and provides glare protection, thermal management, effective shading, and light management. For instance, Solaria Corp.—a solar technology firm based in California—and Asahi Glass Co. Ltd.—a Japanese glass producer—declared to launch a new BIPV solution for markets in Japan and South East Asia. The Solaria incorporate this new technology for windows and building facades and the new product is called as Sudare powered-by-Solaria.

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Global BIPV Glass Market: Segmentation

The global BIPV glass market is segmented on the basis of end-use as industrial buildings, commercial buildings, residential buildings, and others. Of these, residential buildings segment is the leading end-use segment in the global BIPV glass market and is anticipated to grow at faster rate in the near future. Geographically, the global market is segmented as North America, Europe, Middle East, Latin America, and Rest of World.

Global BIPV Glass Market: Growth Factors

Increasing awareness about the reduction of carbon footprint is positively impacting the growth of the global BIPV glass market. People are moving towards electricity generation through renewable and conventional sources at lower cost, this, in turn, is expected the boost the global market in near future. The construction sector accommodates the largest market share in the global BIPV glass market. BIPV modules are extensively used in the construction of commercial buildings, educational, corporate, residential buildings, hospitals, retail outlets, and hotels, which drives the demand for BIPV glass in the market. Rising investments in the architectural segment are also anticipated to propel the growth of the global market.

Global BIPV Glass Market: Regional Analysis

Asia Pacific accommodated for the highest market share in BIPV glass market owing to higher investments in the construction sector. Increasing disposal income and changing lifestyle are anticipated to further boost the growth of the global market. North America is the second highest regional segment due to changing demand of buyers for more attractive construction, which is expected to fuel the market in the near future. Moreover, the U.S. holds for the largest market chunk in the BIPV glass market. Exponential growth in Europe for zero-net energy buildings is positively impacting the global market growth. The government initiatives in North America are anticipated to foster the BIPV glass market in the coming years.

Global BIPV Glass Market: Competitive Players

Some of the major companies operating in the global BIPV glass market include EMMVEE Solar Systems Private Limited, Hanwha Solar One, Suntech Power Co., Ltd., Hanergy, Onyx Solar, Asahi Glass Co., Ltd., First Solar, Canadian Solar, DuPont, and Ascent Solar. Other key players influencing the global market are Sun Power, Centrosolar Group AG, GE, Pythagoras Solar, Solar Frontier Pilkington, and Power Film, Inc.

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