Albany, NY -- (SBWIRE) -- 01/22/2018 -- For many solar companies, developing building-integrated photovoltaic (BIPV) glass has been the next step towards increasing the presence of renewable energy in urban power landscape. Glass manufacturers are actively partnering with solar firms to reap profits from increasing demand for renewable energy. BIPV glass panels are observed to enable energy-efficient maintenance of skyscrapers, lowering their imprint on the overall energy costs of a city. Companies namely, Compagnie de Saint-Gobain SA, Nippon Sheet Glass Co., Asahi Glass Co., Ltd., Trony Solar Holdings Co. Ltd., Solaria Corporation, E. I. DuPont de Nemours and Company, Canadian Solar Inc., Hanwha Chemical Corp., RWE AG, and First Solar are being recognized as the leading manufacturers of BIPV glass in the world.
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In the latest report by Transparency Market Research, the rising need for alternative energy source in high-rise buildings is addressed as a key driver for the growth of global BIPV glass market. The report offers an in-depth analysis on the global BIPV glass market, and delivers insightful forecast on the market's expansion for the assessment period, 2017-2022. During this forecast period, the global BIPV glass market is estimated to expand at a CAGR of 13.1%. The report also projects that the value of global BIPV glass market will surge from an estimated US$ 1.78 Bn in 2017 to around US$ 3.3 Bn by the end of 2022.
The report has identified a range of factors influencing the growth of the global BIPV glass market. Emergence of near zero-energy building concept in Europe is observed to be among the leading drivers for adoption of BIPV glass across the globe. Environmental regulations are being enforced to lower the consumption of electricity in skyscrapers. BIPV glass is also finding lucrative adoption avenues in retrofitting of buildings. Although, high volatile properties of electrolyte solvents used for converting energy through BIPV panels are creating a concern for manufacturers.
Regional analysis offered in the report reveals Europe as the leading market for BIPV glass. During the forecast period, the Europe BIPV glass market is anticipated to expand at a CAGR of 14.8%. Increasing adoption of near zero-energy building concept among the EU member nations will factor the region's dominance in the global BIPV glass market. North America is also expected to record stellar growth in BIPV glass sales. By 2022, close to US$ 1 Bn BIPV glass will be sold across the US and Canada. Rapid urbanization and limited energy supply is observed to propel the adoption of BIPV glass in the Asia-Pacific excluding Japan (APEJ) region. The APEJ BIPV glass market is forecasted to touch a value of US$ 293 Mn by the end of the assessment period.
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The study has also segmented the global BIPV glass market on the basis of glazing type, materials, and end-user settings. In 2017, over three-fourth of revenues procured in the global BIPV glass market will be accounted by crystalline silicon materials. BIPV glass made of amorphous silicon will also witness considerable demand in the near future. The study projects that double module glazing will lose traction on global revenues, accounting for just over one-fourth share in 2017. Between 2017 and 2022, end-use of BIPV glass in the residential settings across the globe will create an absolute $ opportunity of more than US$ 370 Mn.