Solar Roofing is fastest growing segment fueling the growth of the Global Bipv Roofing Market
Bipv
roofing products integrate solar cells into the roof structure or cladding
materials of a building, thereby generating renewable energy from the roofing
material itself. It provides dual benefits of acting as conventional roofing as
well as generating clean electricity from natural sunlight. These products are
lightweight, durable and environment friendly.
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 2023-2030, 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 the development of high
efficiency solar roof tiles. Manufacturers are focused on developing Bipv roof
tiles with higher power conversion efficiencies and lower manufacturing costs
to make them more competitive against conventional solar panels. For instance,
certain companies have developed solar roof tiles that can achieve up to 22%
power conversion efficiency while still retaining the appearance and
functionality of traditional roof tiles. This has boosted their adoption in
residential sector.
Segment Analysis
The Global
BIPV Roofing Market Size can be segmented by type, application, and
region. Based on type, the market is divided into crystalline silicon, thin
film, and others. The crystalline silicon segment accounts for the largest
market share and is expected to remain dominant during the forecast period.
Crystalline silicon solar panels are cheaper to produce with high conversion
efficiency. They have better overall performance and durability compared to
thin film solar panels.
Key Takeaways
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 and initiatives to promote
renewable energy adoption.
Regional analysis
Asia Pacific dominated the global Bipv roofing market in 2023 and is expected
to continue its dominance over the forecast period. Rapid industrialization and
infrastructure development in China, Japan, and India is driving the demand for
Bipv roofing in the region. Europe is expected to be the fastest growing
market, supported by strong government support for renewable energy adoption in
countries like Germany, UK, France, and Italy.
Key players
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. The
global Bipv roofing market is highly fragmented with the presence of several
global and regional manufacturers. Leading players focus on new product
launches and expanding their manufacturing facilities to strengthen their
market position. For instance, in 2022, Tesla launched its Solar Roof product
with integrated Bipv tiles for roof surfaces.
For More Insights, Read- https://www.newsstatix.com/bipv-roofing-market-size-share-analysis-2023-2030/
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