BIPV roofing provide several advantages such as reduced cooling costs, protection from the weather and help offset the initial investment over time through lower electricity bills.
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 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing focus on renewable energy sources is one of the major trends accelerating growth of the BIPV Roofing Market. Governments across the globe are promoting use of solar energy for power generation through various initiatives and subsidies. For instance, countries in Europe have set aggressive targets to increase share of renewable energy in total energy production. This is encouraging adoption of solar roofing among both residential and commercial sector. Further, integration of roofing and solar technology helps architects and builders achieve sustainability goals of net-zero energy buildings which is fueling demand of BIPV roofing solutions globally.
Segment Analysis
The Global BIPV Roofing Market Size is dominated by the crystalline silicon photovoltaic (c-Si PV) segment. c-Si PV technology constitutes about 90% of the global BIPV roofing market as it offers high conversion efficiency and versatility in design and installation. The technology allows for semi-transparent and coloured materials to be incorporated, unlike thin-film technologies. It is widely used in residential as well as commercial rooftop installations due to its ability to easily blend with existing roofing designs and materials.
Key Takeaways
The global BIPV Roofing market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 23.98 Bn by 2023.
Regional analysis
Europe currently dominates the global BIPV Roofing market with over 40% share, driven by strong policy support for solar adoption in countries like Germany, UK, France, Italy etc. The region is expected to remain the fastest growing market during the forecast period owing to increasing structural integration of solar into buildings due to space constraints in cities.
Key players
Key players operating in the BIPV Roofing market are Hans Zipperle AG, Archer Daniels Midland Company, Kerry Group, Sensient Technologies, AGRANA Beteiligungs-AG, Kanegrade Natural Ingredients, Taura Natural Food Ingredients, Olam International Limited, Sunopta, Inc., Roquette Freres, Sensoryeffects Ingredient Solutions, Yaax International Ltd, Diana SAS, Svz International BV, DMH Ingredients Inc., Cargill Incorporated, Tate & Lyle PLC, and Dohler Group.
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