by The building integrated photovoltaic (BIPV) roofing market provides a sustainable solution to generate on-site electricity from solar energy. BIPV roofing combines traditional building materials and solar panels as an integral part of new roof or retrofit of existing roof. Made of semi-flexible thin-film solar technology, BIPV roofing tiles can be seamlessly integrated into sloped roofs without compromising on load bearing capacity or durability of roof. BIPV roofing offers an architectural flexibility to customize color, transparency, and strength as an alternative to regular concrete or clay roof tiles.
The Global BIPV Roofing Market is estimated to be valued at US$ 27.63 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the BIPV roofing are XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., AICHI CORPORATION, Altec Industries, Bronto Skylift, Hunan RUNSHARE Heavy Industry Company, Ltd., Dinolift, HAULOTTE GROUP, Hunan Sinoboom Intelligent Equipment Co, Ltd., JLG Industries, Inc., Manitou Group, Niftylift (UK) Limited, Skyjack, Zhejiang Dingli Machinery Co, Ltd., Linamar Corporation, Manitex International. The growing awareness about renewable energy and carbon emission reduction is fueling the demand for BIPV roofing globally. Government incentives and investments in solar energy space also driving the expansion of BIPV roofing market. Major players are focusing on strategic collaborations and agreements to tap new regional markets in Europe, Asia Pacific and Middle East regions.
The increasing adoption of renewable sources of energy across commercial and residential sectors to meet their annual electricity requirements is a key factor driving the growth of BIPV roofing market. Government policies and regulations promoting use of solar energy through incentives and subsidies is further augmenting the market expansion. Moreover, continuous technological advancements to improve solar cell efficiency and develop new reliable materials for BIPV modules is expected to provide new growth opportunities over the forecast period.
Market Key Trends
The adoption of net-zero building codes by various developed countries is a major trend governing the Global BIPV Roofing Market. The rising focus toward developing net-zero or pluses energy buildings have accelerated the deployment BIPV systems that can generate renewable energy onsite. Furthermore, increasing investment by private and public organizations in research of solar shingles, solar slates, and transparent solar glazing are expected to shape the future development of BIPV roofing market. Growing popularity of small-scale solar rooftop installations among homeowners is another key trend in residential sector. The improving economics and falling prices of solar technology are helping BIPV roofing emerge as a viable alternative to conventional roofing materials.
Porter’s Analysis
Threat of new entrants: The BIPV roofing market requires large capital investments and established supply chains. So the threat of new entrants is moderate.
Bargaining power of buyers: Individual buyers have low bargaining power against established BIPV roofing suppliers due to lack of alternatives. However, large construction companies can negotiate better prices.
Bargaining power of suppliers: A few large companies dominate the supply of key components like solar cells and panels. So their bargaining power is high.
Threat of new substitutes: New substitutes like solar shingles pose a moderate threat as they aim to achieve price parity with conventional roofs.
Competitive rivalry: The market has large players competing aggressively on technology, quality and pricing. This leads to high competitive rivalry.
By value, Europe accounts for over 35% of the global BIPV roofing market due to supportive policies and awareness. Government incentives for solar power in countries like Germany, Italy, and France etc. have boosted adoption.
The Asia Pacific region is poised to be the fastest growing market during the forecast period. This is attributed to rising construction activities, increasing electricity demand and focus shifting toward renewable sources in populous nations such as China and India. Massive investments planned in this sector will further accelerate the growth.
Geographical Regions
By 2024, Europe is estimated to hold the largest share of over 35% in the global BIPV roofing market value owing to existence of favorable government incentives and rising environmental concerns. Countries such as Germany, Italy, and France have introduced tax benefits and subsidies promoting solar installations on rooftops, thereby driving the regional market.
The Asia Pacific region is anticipated to demonstrate the highest growth rate during 2024-2030. Burgeoning industrial and construction activities coupled with increasing power needs of vast population in China and India will boost the regional market. Huge investments scheduled for developing renewable energy infrastructure along with focus shifting toward eco-friendly alternatives will further propel the APAC BIPV roofing market growth over the forecast period.
