BIPV roofing systems incorporate solar photovoltaic modules into the structural elements of a building such as the roof, skylights, facades or canopy tiles, thereby eliminating the need for traditional roof materials. These systems offer dual benefits of generating clean energy from sunlight while serving as an architectural component of the building. Growing awareness about environmental protection and sustainability has boosted the adoption of BIPV roofing that reduces carbon footprint and energy 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 demand for green building materials: Governments across the world are introducing various policies and incentive programs to promote the use of renewable energy sources in construction sector. Building codes mandating installation of solar rooftops is driving the BIPV roofing market. Industry players are bringing innovative BIPV roofing solutions to meet the growing demands of net-zero buildings. Recent technological advancements have enhanced solar panel efficiencies and lowered costs, making BIPV roofing a commercially viable option for homeowners as well as commercial complexes.
SWOT Analysis
Strength: BIPV roofing systems generate on-site renewable energy while functioning as a building material. This leads to savings on electricity bills and reduces dependence on fossil fuels.
Weakness: High upfront costs of BIPV roofing systems make it unaffordable for many residential and commercial builders. Maintenance and repair of these rooftops also requires specialist skills.
Opportunity: Government incentives and policies promoting renewable energy offer opportunities for growth of BIPV roofing market. Rising environmental awareness is also increasing demand for eco-friendly building materials.
Threats: Fluctuations in raw material prices pose risks. Technological advances in other renewable technologies like solar panels can reduce the competitive advantage of BIPV systems.
Key Takeaways
The Global BIPV Roofing Market Size is expected to witness high growth over the forecast period. Asia Pacific currently dominates the market owing to strong government support and high solar radiation levels ideal for BIPV deployment. Countries like China, Japan and India have emerged as major markets in the region.
Key players operating in the BIPV roofing 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. Major players are focusing on new product launches and mergers & acquisitions to strengthen their market presence.
The global BIPV roofing market is expected to witness high growth. Regional analysis related content comprises Asia Pacific currently dominates the market owing to strong government support and high solar radiation levels ideal for BIPV deployment. Countries like China, Japan and India have emerged as major markets in the region.
Key players related content comprises Key players operating in the BIPV roofing 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. Major players are focusing on new product launches and mergers & acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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