The global BIPV roofing market size is expected to witness potential gains in the future, and register a significant CAGR of 14.65 % over the forecast period (2019 - 2027).The market was valued at US$ 2.4 billion in 2016, and is estimated to reach US$ 37.26 billion by 2027.
Photovoltaics is a potential renewable energy source. Photovoltaic materials can be used to replace conventional building materials in parts of the building envelope such as the roof, skylights, or facades. These materials are termed as building-integrated photovoltaics (BIPV). BIPV roofing offers a number of potential benefits and is considered a multifunctional technique. It can be used to generate electricity and replace conventional building materials as a significant weather barrier on residential building surfaces. Roofing systems in BIPV include tiles, shingles, standing seam products, and skylights. BIPV may hold potential to increase PV-suitable space on buildings. A complete BIPV system includes PV modules, a charge controller, a power storage system, a power inverter, backup power supplies, and mounting and support hardware.
Growing consumer interest in distributed PV technologies and industry competition to reduce installation costs are stimulating the development of multifunctional PV products that are integrated with building materials. This in turn is expected to boost growth of the BIPV roofing market. Several governments across the world are also focused on awarding subsidies for BIPV roofing. This is attributed to increasing focus on use of renewable sources of energy to mitigate the impact of greenhouse gases and carbon emission.
However, BIPV roofing is associated with high costs for installation. Although BIPV roofing can be ideal for commercial spaces, individual customers in the residential sector interpret that the product should cost more, owing to its specialty function and their readiness to pay premiums for that function. Installation of BIPV roofing also requires additional materials such as adhesives and framing and flashing materials, which may further increase the cost of installation. BIPV roofing also faces some performance issues. BIPV roofing may witness higher operating temperatures, degrading the semiconducting material and decreasing its efficiency.
Reduction in installation cost, enhanced aesthetic appeal for roofing, increase in technical potential of BIVP systems, interest from players in the solar industry for investing in BIVP roofing, and favorable government support are some of the opportunities that may contribute to the market size for BIPV roofing. Increased PV-suitable space on buildings and BIPV-specific incentives in select international markets can aid in growth of the market. Established players in the solar industry should focus to expanding their business in BIPV roofing. Moreover, increasing regulations and government targets to meet zero emission is expected to boost market share of players.
Europe is expected to account for the largest market share due to European Union (EU) directives for net zero energy components by 2020. Asia Pacific is expected to be the fastest growing market, owing to rapid economic and industrial growth in the region.
Some of the major companies operating in the global BIPV roofing market include, Atlantis Energy Systems, Centrosolar Ag, Ascent Solar Technologies Inc., 3S Swiss Systems, Dyesol Ltd., Ertex Solar GmbH, Dow Solar, Eagle Roofing Products Florida LLC., Konarka Technologies Inc., Heliatek GmbH, Pythagoras Solar, Scheuten Solar, Sharp Corporation, Kyocera Corporation, and Suntech Power Holdings Co. Ltd.
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.