Global Building Integrated Photovoltaics (BIPV) Market to Reach US$9486.38 mn by 2025

Publisher: QYResearch
Published Date: 2019/8/1

The growing environmental concerns and various government initiatives to promote renewable energy to tackle climate change have raised the stake for the global market. The construction of ultra-low energy buildings is gaining importance, which is stoking the demand for BIPV technology. The advantage of building integrated photovoltaics offer multiple functions such as thermal insulation and on-site electricity production. BIPV modules are capable of offsetting the initial system costs. BIPV modules may be used across a wide range of applications including roofs, walls, facades, glazing, and windows, among others. These features of BIPV is creating a high demand.

The global building integrated photovoltaics market was valued at US$7053.66 mn in 2018 and it is expected to reach US$9486.38 mn by the end of 2025, rising at a CAGR of 4.32% between 2019 and 2025.

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