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BIPV Glass Market was valued at US$ 4.63 Billion in 2023 and is expected to reach to US$ 17.62 Billion by 2030; it is estimated to record a CAGR of 18.2% from 2023 to 2031

BIPV Glass Market

The emphasis on sustainability and environmental consciousness is on the rise across the world. As a result, there is a growing preference for green buildings that are energy-efficient, resource-efficient, and environmentally friendly. These green structures rely on construction materials that meet specific sustainability and performance standards, which propels a need for innovative solutions in the construction industry. According to environmental studies experts, nearly 40% of the greenhouse gases and wastes come from the construction industry. The building & construction industry is resource-intensive and consumes vast amounts of energy. According to data published by the International Energy Agency (IEA), in 2022, energy demand in buildings increased by nearly 1% compared to 2021. Electricity consumption accounted for about 35% of energy use in buildings in 2022, up from 30% in 2010. There has been an increase in the demand for electric energy in residential and commercial buildings. Green buildings will reduce the consumption of conventional energy, causing a negligible impact on the natural environment of the project site. BIPV glass is an efficient solution to sustainability concerns, especially in commercial projects such as malls, institutions, manufacturing units, train stations, and airports where huge operating cost and energy utility is involved. BIPV glass generates clean energy for plants, factories, and office premises and enhances the aesthetics of the building by using it as a construction material. Major players operating in the construction industry pay high attention to Leadership in Energy and Environmental Design (LEED) ratings, green points, and sustainable buildings. BIPV glass boasts environmental performance and efficiency ratings in line with nearly zero-energy building (NZEB) standards, which means it helps meet various green building certifications such as Building Research Establishment Environmental Assessment Method (BREEAM) and Leadership in Energy and Environmental Design (LEED). Therefore, the rising demand for green buildings is expected to offer lucrative opportunities for the BIPV glass market during the forecast period.

BIPV Glass Market: Segmental Overview

Based on material, the BIPV glass market is segmented into crystalline silicone, amorphous silicone, and others. In 2023, the crystalline silicone segment held the largest market share and is expected to register the highest CAGR from 2023 to 2031. The amorphous silicone is another attractive segment in the BIPV glass market. Amorphous silicon material can be the perfect substitute for conventional architectural glass placed in buildings as it offers the same mechanical properties. In overcast weather and high temperatures, it produces more power than crystalline silicon glass. This silicon absorbs a higher amount of solar radiation than crystalline silicon.

Based on glazing type, the BIPV glass market is bifurcated into single module and double module. In 2023, the double module segment held a larger market share and is expected to register a higher CAGR from 2023 to 2031. The single module is another attractive segment in the BIPV glass market. Single-module glazing components are made with a singular pane of glass. The glass thickness ranges from 3mm to 10mm. Single-module glazed components are not as thermally efficient as double-module components, and they cannot provide an adequate barrier from the outside. Single pane of glass can be broken easily, and without much force; this makes single glazed components a security risk for homeowners. However, the installation cost for single module components is less than a double module. Thus, price-sensitive consumers majorly prefer single-module glazing type.

Based on component type, the BIPV glass market is segregated into BIPV glass roofs, BIPV glass facades, and others. In 2023, the BIPV glass roofs segment held the largest market share. The BIPV glass facades segment is expected to register the highest CAGR from 2021 to 2031. BIPV glasses are used for skylight facades, curtain walls, and rain screen façade. BIPV glass façades can be installed on existing buildings; it gives a new look to old construction and makes them energy efficient. Many multi-story buildings add curtain walls and façades to maximize energy efficiency or modern design. BIPV solar façade is also used for balcony glazing and provides additional thermal properties and noise reduction to the building. Colored BIPV glass facades are also available. It gives the building a distinctive appearance and attractiveness. Colored and textured BIPV in many different forms will give each building a unique appearance and design. Thus, the demand for BIPV glass façade is high across the world.

Based on end use, the BIPV glass market is segmented into residential, commercial, industrial, and others. In 2023, the commercial segment held the largest BIPV glass market share. The residential segment is expected to register the highest CAGR from 2023 to 2031. Different types of BIPV glass are used to make strong and energy-efficient residential buildings. The residential sector includes private housing, apartments, and buildings. Rising investments and development activities in the residential construction sector are attributed to the rising population and urbanization in different countries across the world. Homeowners and developers increasingly seek eco-friendly solutions and materials that enhance energy efficiency and reduce environmental impact. Moreover, housing programs and favorable government policies for environmentally friendly residential construction projects create a demand for BIPV glasses. Thus, sustainable and energy-efficient construction practices in the residential sector are increasingly emphasized, boosting the adoption of BIPV glasses in the sector.

BIPV Glass Market: Competitive Landscape

Koch Industries Inc, AGC Inc, Nippon Sheet Glass Co Ltd, Vitro SAB de CV, Onyx Solar Group LLC, MetSolar, Mitrex, Roofit.Solar, Grenzebach Envelon GmbH, and Hanergy Holding Group Ltd. are a few key players operating in the global BIPV glass market. Players operating in the market focus on providing high-quality products to fulfill customer demand.

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