Demand for Europe Building-integrated Photovoltaics and Impact of COVID-19……..Posted by Mrudula Anil Karmarkar on December 31st, 2020 The Europe building-integrated photovoltaics market size was estimated to be valued at USD 3.1 billion in 2020 and is anticipated to grow at a compound annual growth rate (CAGR) of 27.2% from 2020 to 2027. The demand for crystalline silicon-based Building-integrated Photovoltaics (BIPV) generated the highest revenue share on account of the high strength of the product. In addition, the demand for the product is expected to be driven by the declining product costs on account of a reduction in the price for crystalline silicon wafers. The demand for the product for C-Si based roofs and walls is expected to rise over the forecast period on account of ease of product integration. The market for crystalline silicon building-integrated photovoltaics is expected to grow over the forecast period owing to the rise in demand from residential and commercial sectors. Furthermore, the high demand on account of superior integration with the building envelope is expected to drive the market growth. The market in Germany has emerged as one of the primary adopters of building-integrated photovoltaics on account of the positive government regulations such as the German Renewable Energy Sources Act which introduced feed-in tariffs scheme and encouraged the generation of electricity through solar. The demand for building integrated glass and facade is likely to register a high growth rate over the next seven years owing to the superior integration of building walls with solar panels. Introduction of advanced low weight solar panels is expected to facilitate the demand for building integrated walls. The development of interlocking roof systems that use interlocked tiles, which provide a high conversion efficiency, coupled with a significant reduction in the weight of building integrated roofs is likely to drive the market during the forecast period. Based on technology, the Europe building-integrated photovoltaics market is segmented into crystalline silicon (C-Si), thin-film, and others. Crystalline silicon technology-dominated held the leading revenue share in 2020. High strength of crystalline silicon building-integrated photovoltaics coupled with superior resistance to adverse weather conditions were the major factors for this dominance. The market for crystalline silicon (C-Si) is expected to be driven primarily by the declining price of crystalline silicon cells, which is, in turn, expected to lower the installation cost in the coming years. Thin-film BIPV expected to witness sustained growth over the forecast period due to rapid technological advancements leading to the introduction of advanced products. This technology is readily used in case of considerable weight constraints for the building. In such cases, the building envelope is unable to support the weight of crystalline silicon integration, leading to high demand for thin-film integrated installation. Favorable outlook towards renewable energy coupled with consumer awareness for renewable energy in European countries is likely to drive the market for BIPV during the forecast period. The governments of Germany and Italy exhibit an increased emphasis on the use of solar energy which is expected to translate into higher adoption of building-integrated photovoltaics, thus promoting industry growth over the forecast period. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450297/ibb The market is highly fragmented with the presence of scarce multinational players. These factors make the industry highly competitive in nature, as it also requires high technology and R&D cost. The market witnesses the presence of many players involved in the production of advanced integrated products. Key players operate through patented products, which leads to notable product differentiation. Additionally, Tesla's entry into the market is expected to provide an impetus for the market growth through the introduction of advanced products coupled with a high affinity of the consumers towards the brand. Heliatek, Hanergy, Polysolar, Flisom are some of the companies that are focusing on thin-film solar technology. Black colored solar panels have similar properties as of crystalline silicon solar cells. But, the most significant difference is that black silicon solar cells are further upgraded to have a dark black texture which tend to absorb more sunlight, ultimately leading to more energy efficiency for a solar cell. Due to these factors, the demand for black solar panels in Europe is increasing. The large-scale use of photovoltaics, especially in the built environment, increases the importance of the aesthetics of BIPV modules in Europe. In this regard, the BIPV product portfolio is diversified with products with different appearances and different functions. Examples of this are modules with colored cells, BIPV roof tiles and facade elements, which are to take over the functionality of conventional components in order to enable building-integrated PV. Completely black modules are currently widely used and are highly valued for both building-integrated and building-related applications in countries like France, Italy, and Germany. Some of the prominent players in the Europe BIPV market include:
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com
Like it? Share it! More by this author |