Bipv (building integrated photovoltaics) roofing solutions are solar panels which are integrated into roofs and building facades. They serve dual purpose of generating solar power as well as functioning as building material in construction. Bipv roofing panels come in various forms such as tile roofing, glass roofing etc. The advantages of Bipv roofing include generating green renewable energy, energy savings for buildings, enhanced architectural aesthetics of buildings, reduced construction costs etc. With growing focus on green construction and renewable energy, the demand for Bipv roofing solutions is increasing across the globe.
The global Bipv Roofing Market is estimated to be valued at US$ 23.98 Bn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Bipv roofing market is growing adoption of B2B sales model. Major Bipv roofing manufacturers are focusing on bulk sales to construction companies, developers, architects etc involved in commercial and industrial construction projects. This enables better market penetration and economies of scale. Another major trend is technological advancements in building integrated solar panels. Manufacturers are developing highly efficient yet lightweight and flexible Bipv roofing solutions to suit various construction needs. Growing popularity of net zero energy buildings also provides growth opportunities for Bipv roofing market players.
Threat of new entrants: The Global BIPV Roofing Market Size requires high capital investment for setting up manufacturing plants and research & development facilities, thereby acting as a barrier for new players.
Bargaining power of buyers: The presence of many established players gives buyers ample options to choose from, thus increasing their bargaining power.
Bargaining power of suppliers: Key materials used in BIPV roofing systems such as solar panels and batteries have few substitutes. This gives suppliers significant bargaining power over players.
Threat of new substitutes: Ongoing R&D is discovering new materials for enhancing efficiency of solar systems, posing threat of substitution to existing products.
Competitive rivalry: The market comprises major global brands with wide product portfolio and strong distribution networks, leading to fierce competition.
The global Bipv Roofing market is expected to witness high growth, exhibiting CAGR of 21.% over the forecast period, due to increasing awareness about renewable energy sources and government incentives.
The market size for 2023 is US$ 23.98 Bn. Regional analysis – North America dominates currently due to supportive federal and state policies. Asia Pacific is expected to witness fastest growth owing to growing construction industry and expanding middle-class population in China and India.
Key players operating in the Bipv Roofing market are Tesla Inc., First Solar Inc., Hanergy Thin Film Power Group, and Suntech Power Holdings Co., Ltd. Tesla aims to capture major share through its unique solar roof panel design and brand visibility. First Solar is well-positioned to tap opportunities in US residential sector.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it