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The building-integrated photovoltaic skylights market share is expected to increase by USD 594.41 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.94%.
This building-integrated photovoltaic skylights market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers building-integrated photovoltaic skylights market segmentation by end-user (commercial, residential, and industrial), type (crystalline panel and thin-film panel), and geography (Europe, North America, APAC, MEA, and South America). The building-integrated photovoltaic skylights market report also offers information on several market vendors, including EnergyGlass, Kaneka Corp., ML SYSTEM SA, Norsk Hydro ASA, ONYX SOLAR ENERGY SL, Polysolar Ltd., Romag Ltd., Solaria Corp., Super Sky Products Enterprises LLC, and Wuxi Suntech Power Co. Ltd. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The need to reduce energy costs is notably driving the building-integrated photovoltaic skylights market growth, although factors such as the absence of BIPV-specific standards may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the building-integrated photovoltaic skylights industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Building-Integrated Photovoltaic Skylights Market Driver
The need to reduce energy costs is one of the major drivers of the building-integrated photovoltaic (BIPV) skylights market growth. Commercial buildings, healthcare facilities, and manufacturing plants are the most energy-intensive end-users, as they need to function round-the-clock and use various equipment for the upkeep of their in-house operations. As a result, the demand and amount spent on electricity in these facilities are high. A growing number of commercial buildings with large floor spaces are adding to the energy cost of the building sector. Simultaneously, the steady rise in electricity prices has increased the operational cost of such facilities, resulting in a direct impact on the facility s bottom-line expenses. The global commercial building sector is working toward reducing energy expenses. By implementing energy management practices, a building can save 10%-20% of the energy consumption and extend it above 30% with a comprehensive energy plan. For instance, in healthcare facilities, the BIPV skylight has proven to be a highly cost-effective solution that cuts down energy consumption and enables cost savings.
Key Building-Integrated Photovoltaic Skylights Market Trend
The increasing adoption of smart solar systems is one of the major trends in the building-integrated photovoltaic (BIPV) skylights market growth. One of the major hurdles in the adoption of solar energy renewables is their intermittent nature. Energy storage bridges the gap, and they are also used to increase renewable energy penetration in hybrid systems. A standard PV could produce 20% to 30% of the power; however, with the addition of energy storage (battery), the power from solar PV could go beyond 60% to 70%. Renewable penetration means the number of renewables that can be added to the system output; for instance, 20% penetration means that for 1 MW of installed generator capacity, 200 kW of renewable power can be added. The below chart provides the typical PV penetration level in a hybrid system with dedicated software for power management and an energy storage system. The higher the renewable energy penetration, the greater the savings for the end-user. Smart solar systems using energy storage systems are gaining popularity as they can improve the efficiency of solar panels.
Key Building-Integrated Photovoltaic Skylights Market Challenge
The absence of BIPV-specific standards is one of the major challenges to the building-integrated photovoltaic (BIPV) skylights market growth. Presently, PV modules, including BIPV, are subject to the design and qualification standards devised by the Underwriters Laboratory and the International Electrotechnical Commission. However, BIPV may be required to meet other criteria as a structural component, and this can act as a market inhibitor. For instance, pervasive International Building Codes of the International Code Council have been adopted by all 50 states and Washington, D.C. in the US. This has established criteria for BIPV as a roofing material that dictates its performance on durability, fire safety, stability, and wind resistance. Even something as simple as measurement standards can complicate BIPV deployment. The PV industry uses a watt as a unit, which measures the electrical output, and the construction sector uses the square meter as a unit, which denotes area. If this incongruence remains unsolved, it could create some inconvenience for installers in the building. As BIPV systems lack an integrated set of codes and standards, they must carve out a middle ground in terms of compliance with both the construction and PV industries. Impact of drivers and challenges
This building-integrated photovoltaic skylights market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global building integrated photovoltaic (BIPV) skylight as a part of the global building products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the building-integrated photovoltaic skylights market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the building-integrated photovoltaic skylights market encompasses successful business strategies deployed by the key vendors. The building-integrated photovoltaic skylights market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The building-integrated photovoltaic skylights market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the building-integrated photovoltaic skylights market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the building products market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Panel type
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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