views
Building Integrated Photovoltaics Market
North American Building Integrated Photovoltaics Market Set for Significant Growth
The North American building integrated photovoltaics (BIPV) market is projected to expand robustly, growing from US$ 1,414.93 million in 2021 to US$ 3,704.92 million by 2028. This represents a compound annual growth rate (CAGR) of 14.7% during the forecast period.
πDownload Full PDF Sample Copy of Market Report @
https://wwcw.businessmarketinsights.com/sample/BMIRE00025419
Key Drivers for Market Expansion
Several factors are converging to fuel this growth:
- Soaring Demand for Renewable Energy: A fundamental shift towards sustainable energy sources is accelerating, driven by growing environmental concerns and policy changes.
- Electrification of Transportation: The increasing adoption of electric vehicles is placing greater demands on electricity grids, further boosting the need for renewable generation.
- Oil and Gas Industry Involvement: Major energy companies are increasingly investing in the electricity value chain, indicating a broader industry pivot towards diversified energy portfolios, including renewables.
- Decarbonization Initiatives: Numerous states, cities, and utilities across North America are actively pursuing ambitious decarbonization plans, directly stimulating demand for renewable energy solutions like BIPV.
- Government Support for Renewables: The current administration is expected to leverage its executive power to streamline the deployment of renewable energy projects through various avenues, including land use, procurement policies, foreign relations, trade agreements, and agency appointments.
The Shift Away from Fossil Fuels
Historically, fossil fuels have been the dominant source of energy production in North America since the industrial revolution. However, the environmental and health consequences of this reliance are becoming increasingly clear. The combustion of fossil fuels for electricity accounts for approximately three-quarters of all greenhouse gas emissions and is a significant contributor to local air pollution. To combat these issues and reduce carbon dioxide emissions, there's a concerted effort to increase renewable energy consumption. This has led to a surge in investments in renewable power generation by major economies, which is expected to significantly drive the adoption of building integrated photovoltaics in the coming years.
North America Building Integrated Photovoltaics Strategic Insights
Strategic insights for the North America Building Integrated Photovoltaics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
ο· AGC Inc.
ο· ClearVue Technologies Limited
ο· Heliatek
ο· Onyx Solar Group LLC
ο· Saule Technologies
North America Building Integrated Photovoltaics Regional Insights
The geographic scope of the North America Building Integrated Photovoltaics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
North America Building Integrated Photovoltaics Market Segmentation
The North America building integrated photovoltaics (BIPV) market is analyzed across several key segments: technology, type, application, end-use, and country.
Technology
- The market is divided into colored and regular BIPV. In 2020, the regular segment held a larger market share.
Type
- Segmentation by type includes monocrystalline, polycrystalline, and thin-film BIPV. The monocrystalline segment dominated the market in 2020, accounting for the largest share.
Application
- BIPV applications are categorized into roofs, walls, glass, façade, and others. The façade segment represented the largest share of the market in 2020.
End-Use
- The market's end-use segments are residential, commercial, and industrial. The residential sector accounted for the highest share in the North America BIPV market in 2020.
Country
- Geographically, the market is segmented into the US, Canada, and Mexico. The US was a significant contributor to the market share in 2020.
Leading companies in the North America building integrated photovoltaics market include AGC Inc., ClearVue Technologies Limited, Heliatek, Onyx Solar Group LLC, and Saule Technologies.
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights
Comments
0 comment