Manufacturers of glass are now actively teaming up with solar companies to enjoy the profits from the growing demand for renewable energy. Building integrated photovoltaic glass (BPIV) panels are found to be more efficient in the energy maintenance of skyscrapers, cutting down their impact on the overall costs of energy in the city. Companies such as E. I. DuPont de Nemours, Solaria Corporation, Nippon Sheet Glass Co. Ltd., Trony Solar Holdings Co. Ltd., Compagnie de Saint Gobain SA, Canadian Solar Inc., RWE AG, First Solar, and Hanwha Chemical Corp are considered to be some of the leading players in the global building integrated photovoltaic glass (BPIV) market.
Over the course of the given forecast period of 2017 to 2022, the global building integrated photovoltaic glass (BPIV) market is expected to develop with an impressive CAGR of 13.1%. This strong rate of growth of the global market is expected to take the overall market valuation to US$3.3 bn by the fall of 2022 from the initial market valuation of US$1.78 bn observed in 2017.
From a regional point of view, the global market for building integrated photovoltaic glass (BPIV) is expected to be dominated by Europe. The regional market in Europe for building integrated photovoltaic glass (BPIV) is projected to develop with a strong CAGR of 14.8% over the course of the given forecast period of 2017 to 2022. One of the key reasons behind this growth is the growing adoption of the concept of almost zero-energy buildings amongst the member of European Union. North America market is expected to follow Europe with estimated sales of nearly US$1 bn over the course of the given forecast period. The Asia Pacific except Japan market is expected to show promising growth rate with estimated market valuation of US$293 mn by the end of given forecast period in 2022.
The research report on the global market for building integrated photovoltaic glass (BPIV) segments the market in terms of material used, glazing type, and the end users. Over three fourth of revenues in the year 2017 are expected to be dominated by crystalline silicon materials.
Increasing Concern about Cutting Down Energy Consumption to Drive Market Growth
The global market for building integrated photovoltaic glass (BPIV) is driven by a variety of factors. One of the key factors responsible for the overall growth of the global market for building integrated photovoltaic glass (BPIV) is increasing uptake of near zero energy building idea in Europe. In addition to this, growing concerns about environmental degradation and subsequent regulations to cut down the same is also expected to drive the overall demand for the market. These regulations are being imposed on huge buildings and skyscrapers to cut down their overall energy consumption and thus fuelling the demand for building integrated photovoltaic glass (BPIV) panels. The building integrated photovoltaic glass (BPIV) is also finding lucrative opportunities in the retrofitting of buildings.
High Volatility of Electrolyte Solvents Creating Problems for BPIV Manufacturers
However, there are some factors that are negatively affecting the growth of the market and are stopping it from reaching its full potential. One of the key restraining factor for the growth of the global building integrated photovoltaic glass (BPIV) market is the high volatility of the electrolyte solvents that are used for energy conversion through BPIV panels.
This review is based on the latest report by Transparency Market Research, titled "BIPV Glass Market (Material Type – Crystalline Silicon, Amorphous Silicon, OPV (Organic Photo Voltaic Cell), DSSC (Dye Sensitized Solar Cells), and Others (CdTe, CIGS); Glazing Type – Single Module and Double Module; End Use Sector – Residential and Commercial) Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022"