Building-integrated Photovoltaic (BIPV) Skylights Market Research: 2030

WILMINGTON, DE, UNITED STATES, December 5, 2024 /EINPresswire.com/ -- Building-Integrated Photovoltaic Skylights Market Report Overview

A recent report by Allied Market Research titled “Building-Integrated Photovoltaic Skylights Market by Type, Application, and Construction: Global Opportunity Analysis and Industry Forecast, 2021–2030” reveals the global market was valued at $1.5 billion in 2020. It is projected to grow at a compound annual growth rate (CAGR) of 15.3%, reaching $5.3 billion by 2030. In 2020, Europe held a leading position, contributing nearly one-third of the total market share.

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Market Segmentation and Regional Analysis
The report categorizes the market based on type, application, construction, and region. The types of panels analyzed include crystalline and thin-film panels. Applications span residential, commercial, and industrial sectors, while construction activities are divided into new construction and renovation.

In 2020, crystalline panels dominated the market, driven by increased adoption in residential and commercial projects. Europe witnessed significant growth due to urbanization and economic advancements in countries like Germany, the U.K., and Italy. Meanwhile, Asia-Pacific, including China, Japan, and India, also experienced strong momentum.

Key Market Drivers
The global demand for photovoltaic skylights is fueled by rapid development in residential and commercial sectors. These skylights, including solar panels, facades, and rooftops, contribute to sustainability and energy efficiency. Increased investments in construction and renovation activities across countries like the U.S., Japan, and Germany bolster market growth. For instance, the U.S. government increased public and private infrastructure spending by 20% from 2012 to 2020.

Economic growth and urbanization in developing countries further support the market's expansion. Rising consumer awareness about green buildings and energy-efficient solutions has amplified the adoption of photovoltaic skylights globally.

Challenges and Opportunities
Despite its promising growth, the market faces challenges, such as fluctuating raw material costs and the impact of unfavorable weather conditions. The COVID-19 pandemic significantly disrupted market activities in 2020. Lockdowns, supply chain interruptions, and restricted construction activities affected demand and production. For example, ClearVue Technologies Limited reported a 29.6% decline in net sales between January and December 2020.

However, the market is expected to recover post-pandemic due to resumed construction activities, reduced restrictions, and the availability of vaccines. The rise in green building projects is anticipated to provide lucrative growth opportunities in the coming years.

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As restrictions eased in 2021, market recovery began, supported by a renewed focus on sustainable infrastructure. With increasing adoption of renewable energy solutions and innovative building designs, the market is projected to grow steadily.

Segmental Insights
By Type: Crystalline panels dominated the market in 2020, while thin-film panels are projected to grow at a CAGR of 17.5% during the forecast period.
By Application: The commercial segment recorded the highest growth in 2020, driven by rising adoption of photovoltaic skylights in office spaces, malls, and public infrastructure.
By Construction: Renovation projects led the market in 2020, reflecting growing interest in upgrading existing structures with energy-efficient solutions.
Regional Insights
Europe dominated the market in 2020 due to advanced construction technologies and stringent environmental regulations promoting sustainable building practices. In Asia-Pacific, growing urbanization and large-scale construction projects drive market expansion. Countries like China and India show high potential, supported by government initiatives and private investments in green buildings.

Competitive Landscape
Key players profiled in the report include:

EnergyGlass
ClearVue Technologies Limited
Kaneka Corporation
ML System S.A.
Onyx Solar Group LLC
Norsk Hydro ASA
Polysolar Ltd.
Super Sky Products Enterprises LLC
Wuxi Suntech Power Co Ltd.
Solaria Corporation
Key Findings
Crystalline panels dominated in 2020, while thin-film panels exhibit strong growth potential.
The commercial segment experienced the highest growth in 2020.
Renovation projects are projected to lead in growth rate in the coming years.

David Correa
Allied Market Research
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