According to the recent report from Transparency Market Research, the market for BIPV is expected to grow 18.7% between 2013 and 2019, with innovation of BIPV products expected to catapult the product segment in the market forefront through the forecast period.
Annual installations of Building Integrated Photovoltaics (BIPV) are anticipated to reach 1,152.3MW by the end of 2019, up from 343.1MW in 2012, according to a recent report from Transparency Market Research. The BIPV industry is expected to register a CAGR of 18.7% between 2013 and 2019, according to the report, ‘Building Integrated Photovoltaics Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019’.
The report has segmented the global building integrated photovoltaics market in terms of product types, technology, end-user applications, and geography. On the basis of product type, the market has been segmented into curtain wall, rooftop, and BIPV windows. According to the findings of the report, rooftop accounted for approximately 67% of the market share in 2012 to emerge as the fastest-growing segment. Considerable increase in demand for curtain wall has been noted in the last couple of years as well. The growing applications of curtain wall across the commercial sector are expected to boost the overall demand for the product segment. Innovation of BIPV products such as insulated, coloured, and transparent BIPV window will catapult the product segment in the market forefront through the forecast period, according to the report.