The BIPV glass market size is expected to grow from US$ 4.63 billion in 2023 to US$ 17.62 billion by 2031; it is estimated to register a CAGR of 18.2% from 2023 to 2031.
The global BIPV glass market has experienced notable growth in recent years, driven by increasing demand from commercial and residential settings. Building-Integrated Photovoltaics (BIPV) is the integration of solar cells into the building structures. Photovoltaic materials are used in various applications such as roofing, skylights, facades, canopies, and spandrel glass. BIPV glass serves as a power generator and building envelope material, thus helping reduce energy costs, fossil fuel use, and greenhouse gases, as well as increasing the building value. Growing commercial construction and rising demand for solar energy envelopes drive the BIPV glass market.
BIPV glass offers many advantages compared to conventional photovoltaic panels. BIPV modules help in reducing the energy consumption of buildings by generating solar energy. The integration of BIPV glasses in the buildings offers an aesthetic view, as these panels can be designed to suit existing building architecture. The use of transparent modules allows the natural light into the building thereby reducing lighting costs. The rising demand for sustainable and energy-efficient buildings is increasing. In December 2023, EU defined the energy efficiency targets aiming at decarbonizing building stock and key measures for the utilization of rooftop solar to cover the remaining electricity demand in the EU. The European Parliament also aims to mandate solar installations on new commercial and residential buildings by the end of 2026.
As economies continue to develop and urbanize, there is a parallel surge in the construction and expansion of commercial facilities, fueling the need for BIPV glasses.
GROWTH DRIVERS AND CHALLENGES
The rapid expansion of commercial facilities such as office buildings, shopping centers, and industrial complexes propels the demand for sustainable building materials and energy-efficient solutions, thus, providing several opportunities for the BIPV glass market growth. Manufacturing plants, warehouses, and other industrial facilities require substantial energy consumption for their operations. As businesses seek to optimize energy efficiency and reduce operational costs, BIPV glass emerges as a viable solution to offset electricity consumption and harness renewable energy directly on-site. The versatility and aesthetic appeal of BIPV glass contribute to its growing demand in industrial and commercial applications. BIPV glass offers a dual-purpose solution by serving as a building material and a renewable energy generator. This integration aligns with the sustainability goals of many commercial projects, allowing them to reduce their carbon footprint and energy costs simultaneously. According to the US Census Bureau, nonresidential construction spending increased to US$ 1,190.23 in January 2024 from US$ 1,016.42 in January 2023, a significant growth of 17.1%. In addition, according to the Center for Sustainable Systems, University of Michigan, commercial building floor space is projected to reach 124.6 billion square feet by 2050, a 29% increase from 2022.
As per the Ministry of Statistics and Programme Implementation, the construction sector in India grew by 10.7% in 2022, a rebound from a decrease of 8.6% in 2021 due to the government's augmented focus on infrastructure projects for commercial and residential segments. Countries such as Uzbekistan and Azerbaijan are also undergoing economic development, leading to rising investments in infrastructure and urban development, including the construction of roads, bridges, residential complexes, and industrial facilities. According to the State Committee of the Republic of Uzbekistan on Statistics, between January and August 2022, in Uzbekistan, the value of construction work performed amounted to US$ 9.28 billion, and the growth rate compared to the corresponding period in 2021 reached 106.2%.
The aesthetic appeal of BIPV glass complements modern architectural designs, making it an attractive option for commercial developers seeking functionality and visual appeal. Further, the Department of Energy of the US has expressed interest in better understanding the relationship between builders, roofing companies, and solar PV installers. As of January 1, 2020, the California building code (California Code of Regulations, Title 24, Part 6) requires all new construction homes to have solar panel technology. The California Energy Commission, a key stakeholder in changing the California Code of Regulations to require residential solar power, brought about this change. In November 2019, local laws 92 and 94 (part of the Climate Mobilization Act) took effect in New York City, mandating that any roof undergoing major construction be covered in solar PV panels or a green roof system (a roof covered in vegetation). As businesses increasingly prioritize sustainability and energy efficiency, BIPV glass emerges as a key solution for integrating renewable energy generation into commercial buildings. The ongoing innovations in BIPV technology and continued government support contribute to the global BIPV glass market size.
Lack of government policy support and incentives for BIPV installations increase the installation cost of building integrated photovoltaics (BIPV) glass. BIPV systems are integrated into the building’s architecture by replacing traditional building materials such as glass, roofing materials, and facade elements. This integration of BIPV systems requires specialized design, manufacturing, and installation processes, which adds to the overall cost of the system. The increased investment cost for BIPV systems makes conventional solar photovoltaic systems a more affordable solution for building owners. In addition, the advanced installation equipment and techniques incur high installation costs. BIPV solar modules are costlier by 2.5 to 3 times as compared with traditional solar modules. Furthermore, conventional solar panels tend to possess better energy efficiency as they are designed for the sole purpose of energy generation. However, compared with traditional panels, BIPV solar modules have an average of 5–10% less efficiency. Thus, high capital investments required for the integration of BIPV modules and less energy efficiency as compared to traditional solar modules restrain the BIPV glass market growth.
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BIPV Glass Market: Strategic Insights
Market Size Value in US$ 4.63 billion in 2023 Market Size Value by US$ 17.62 billion by 2031 Growth rate CAGR of 18.2% from 2023 to 2031 Forecast Period 2023-2031 Base Year 2023
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BIPV Glass Market: Strategic Insights
| Market Size Value in | US$ 4.63 billion in 2023 |
| Market Size Value by | US$ 17.62 billion by 2031 |
| Growth rate | CAGR of 18.2% from 2023 to 2031 |
| Forecast Period | 2023-2031 |
| Base Year | 2023 |
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REPORT SEGMENTATION AND SCOPE
The "Global BIPV Glass Market Forecast to 2031" is a specialized and in-depth study with a significant focus on market trends and opportunities. The report aims to provide an overview of the market with detailed market segmentation on the basis of material, glazing type, component type, end use, and geography. The global BIPV glass market has witnessed significant growth over the past few years and is expected to continue this trend during the forecast period. The report provides key statistics on the use of BIPV glass worldwide, along with their demand in major regions and countries. It also provides a qualitative assessment of various factors affecting the market performance in major regions and countries. The report also includes a comprehensive analysis of the leading market players and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, global BIPV glass market trends, and lucrative opportunities that would, in turn, aid in identifying the significant revenue pockets.
Ecosystem analysis and Porter’s five forces analysis also provide a 360-degree view of the global BIPV glass market analysis, which helps understand the entire supply chain and various factors affecting the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
SEGMENTAL ANALYSIS
The global BIPV glass market is segmented on the basis of material, glazing type, component type, and end use. In terms of material, the market is segmented into crystalline silicone, amorphous silicone, and others. By glazing type, the market is bifurcated into single module and double module. Based on component type, the BIPV glass market is segmented into BIPV glass roofs, BIPV glass facades, and others. By end use, the market is segregated into residential, commercial, industrial, and others.
Based on material, the crystalline silicone segment held a significant global BIPV glass market share in 2023. Solar cells are connected and laminated under toughened, high-transmittance glass in crystalline silicon PV cells to produce reliable, climate-resistant PV modules. This type of glass can generate electricity using the same technology as solar panels. Based on glazing type, the double module segment held a major market share in 2023. The double-glazed module contains two sheets of glass. Traditionally, these two panes of glass are separated by a gap of 12mm and 16mm. However, the gap will be 20mm in a modern double-glazed module. Double glazing has better insulation properties and provides customers with better temperature control indoors. Based on component type, the BIPV glass roofs segment led the market with a significant market share in 2023. The BIPV glasses can be used for solar roofing on buildings, independent houses, industrial buildings, schools, colleges, etc. Moreover, canopies and carports use solar roofing with BIPV technology. BIPV solar roof panels are clean, renewable energy sources. The panels are placed on rooftops and angled toward the sun to provide continuous power to the entire building. Based on end use, the commercial segment led the market with a significant market share in 2023. The commercial sector includes sports facilities, government offices, hotels, corporate offices, and other commercial spaces. Different types of BIPV glasses are used to construct these facilities to reduce energy costs.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
REGIONAL ANALYSIS
The BIPV glass market report provides a detailed regional overview of the market. Europe accounted for a significant global BIPV glass market share in 2023. The market in the region was valued at ~US$ 2 billion in 2023. France is a major contributor to the market growth in this region. Asia Pacific is also expected to witness notable growth, reaching ~US$ 7 billion by 2031. Furthermore, in North America, there has been a widespread use of BIPV glasses. The North America BIPV glass market growth is driven by factors such as the growing adoption of BIPV glass in the construction of buildings owing to their advantages and the increasing demand for sustainable and energy-efficient buildings. The BIPV glass market in North America is expected to report a CAGR of around 20% from 2023 to 2031.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnerships, acquisitions, and new product launches are a few prominent strategies adopted by the players operating in the global BIPV glass market.
In March 2023, Vitro Glass launched Vitro X, which will identify and develop inspired solutions for challenges experienced in the glass industry. It would also support future-focused companies in bringing innovative products and technologies to market.
In September 2022, Grenzebach Group of Germany, a glass and building materials producer, announced the inauguration of a building-integrated PV (BIPV) module production facility by its subsidiary Envelon in the Germany’s Bavaria region with up to 300,000 sq. mtr. annual capacity.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Koch Industries Inc, AGC Inc, Nippon Sheet Glass Co Ltd, Vitro SAB de CV, Onyx Solar Group LLC, MetSolar, Mitrex, Roofit.Solar, Grenzebach Envelon GmbH, and Hanergy Holding Group Ltd. are a few major players analyzed in the global BIPV glass market report.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, Glazing Type, Component Type, and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
In 2023, Europe held the largest share of the global BIPV glass market. The rising adoption of BIPV glass owing to its advantages and government initiatives promoting sustainable construction practices boost the Europe BIPV glass market. Countries such as France, Germany, and Luxembourg have strict regulations regarding incentives for photovoltaic (PV) buildings. This has accelerated the adoption of BIPV in these countries. As a result, the BIPV glass market has huge potential in Europe.
A few players operating in the global BIPV glass market include Koch Industries Inc, AGC Inc, Nippon Sheet Glass Co Ltd, Vitro SAB de CV, Onyx Solar Group LLC, MetSolar, Mitrex, Roofit.Solar, Grenzebach Envelon GmbH, and Hanergy Holding Group Ltd.
The commercial segment held the largest share of the global BIPV glass market in 2023. Rising investments in commercial construction projects and growing commercial construction activities across the world propel the demand for BIPV glasses. Moreover, manufacturers are launching BIPV glass solutions for commercial construction to cater to the increasing demand. In March 2021, Vitro Architectural Glass announced the launch of Solarvolt BIPV glass modules to aid CO2-free power generation for commercial buildings. All these factors led to the dominance of commercial segment in 2023.
The crystalline silicone segment held the largest share in the global BIPV glass market in 2023Crystalline silicon is the most suitable material for canopies, spandrel glass, skylight applications, solid walls, and guardrails. Crystalline silicon glass can be easily customized, especially in shape; even trapezoids can be easily fabricated. The glass installations take up less area for a given amount of kWp (kilowatt 'peak' power) to be reached compared to amorphous silicon glass installations. These factors led to the dominance of the crystalline silicone segment in 2023.
The BIPV glass roofs segment held the largest share of the global BIPV glass market in 2023. The building with BIPV solar roof panel gets most of its energy from sunlight, which helps preserve the earth's resources. Also, the installation of BIPV solar roofs significantly eliminates pollution. Owing to these factors, they are considered environmentally friendly. Federal, state, and local governments provide tax incentives and rebates as solar power roofs benefit the environment. All these factors led to the dominance of BIPV glass roofs segment in 2023.
The List of Companies - BIPV Glass Market
- Koch Industries Inc
- AGC Inc
- Nippon Sheet Glass Co Ltd
- Vitro SAB de CV
- Onyx Solar Group LLC
- MetSolar
- Mitrex
- Roofit.Solar
- Grenzebach Envelon GmbH
- Hanergy Holding Group Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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