The global BIPV glass market consist of several dedicated market players who are making concerted efforts to strengthen the renewable energy domain. The market players have resorted to a range of strategies to differentiate themselves from their competitors and are expected to keep enhancing their offerings over the coming years. The competition in the market is expected to intensify as the demand for BIPV glasses reaches new heights across industrial, commercial, and residential units.
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A striking feature of the global market for BIPV glass is the alliance between solar companies and manufacturers of glass. The development of building-integrated photovoltaic (BIPV) glass has been on the to-do list of the solar energy sector in order to encourage renewable energy usage in the urban power landscape. Hence, a number of successful partnerships between solar companies and manufacturers of BIPV glass have come to light in recent times. It is anticipated that the market players in the BIPV glass market would continue to establish partnerships and alliances with solar companies to increase their revenues. Some of the leading market players in the global market for BIPV glass are Solaria Corporation, Nippon Sheet Glass Co., Asahi Glass Co., Ltd., Compagnie de Saint-Gobain SA, Trony Solar Holdings Co. Ltd., Canadian Solar Inc., RWE AG, E. I. DuPont de Nemours and Company, and Hanwha Chemical Corp.
The researchers at Transparency Market Research (TMR) predict the growth pattern of the global market for BIPV glass over the coming years. It is projected that the global market would expand at a stellar CAGR of 13.10% over the forecast period beginning 2017 up until 2022. The market that was valued at US$ 1.78 Bn in 2017 is expected to cruise ahead and reach a valuation of US$ 3.3 Bn by the end of 2022.
Green Building Concepts Propel Demand
The constructions industry has started adopting environment-friendly procedures in order to fulfil its corporate social responsibility. The severe dearth of sources of power across the globe has compelled the industry to adopt renewable resources for the production of electricity. Skyscrapers consume a significant amount of electricity, and hence, strict regulations with regards to the adoption of renewable alternatives have been imposed by governments. This has increased demand within the global market for BIPV glasses while offering growth opportunities to market players. The integration of thin-film technologies including DSC, OPV, and PV with BIPV glasses is expected to further propel demand within the global market. The thermal and sound insulation properties of BIPV glasses has also played a pivotal role in expanding the global market for BIPV glasses.
Europe to Emerge as leading Regional Segment
A number of new policies aimed at safeguarding the environment have been introduced in Europe, which has given an impetus to the market for BIPV glasses in the region. Sustaining natural resources and preventing the depletion of fossil fuels has become the primary concern of several European nations. In North America, the swift adoption of green technologies in the constructions industry has escalated demand within the market for BIPV.
The review is based on a market research report titled, “BIPV Glass Market (Material Type – Crystalline Silicon, Amorphous Silicon, OPV (Organic Photo Voltaic Cell), DSSC (Dye Sensitized Solar Cells), and Others (CdTe, CIGS); Glazing Type – Single Module and Double Module; End Use Sector – Residential and Commercial) Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022”.
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