by Building-integrated photovoltaics (BIPV) are photovoltaic materials that are used to replace conventional building materials in parts of the building envelope such as the roof, skylights, or facades. They are characterized by their primary function being electricity generation while replacing or being integrated into the building materials used in façades or roofs. The advantages offered by BIPV roofing systems such as lower energy costs due to on-site electricity generation, cost savings from reduced roof maintenance needs and additional structural strength, have led to their rising popularity.
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 market 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 key opportunities in the market include supportive government policies and incentives driving BIPV adoption, rising demand for low-maintenance building materials from the construction industry and technological advancements enabling higher efficiencies. BIPV manufacturers are focusing on developing modules with higher efficiencies and stability using new PV materials and integrating roofing functions with electricity generation capabilities to gain market share.
Market Drivers
The rapid decline in the costs of solar PV modules and systems over the past decade has made Global BIPV Roofing Market more economically viable for commercial installations. Government incentives and tax credits for renewable installations in different countries are encouraging greater adoption of BIPV roofing systems. Concerns around energy security and carbon emission reduction targets are also driving the replacement of conventional roofing materials with BIPV variants in the industrial and commercial building segments. Strategic partnerships between module manufacturers, installers and building material companies have further promoted the use of innovative BIPV solutions.
Current challenges in BIPV Roofing Market:
The key challenges faced by the BIPV roofing market are high initial investment costs and lack of consumer awareness about benefits and return on investment. Installing a BIPV roofing system requires considerable upfront capital which deters many potential customers. There is also a lack of proper standards and regulations for BIPV products in some regions. Educating builders, contractors and homeowners about long term savings on energy costs remains a challenge for industry players.
SWOT Analysis
Strength: Renewable source of energy; Generates power on-site thereby reducing transmission and distribution losses.
Weakness: Higher upfront costs compared to traditional roofing materials; Technology may not work well in cloudy climates.
Opportunity: Increasing support through government subsidies and tax incentives; Growing acceptance of solar energy provides vast untapped market potential.
Threats: Cyclical nature of construction industry impacts demand; Stiff competition from conventional solar panel installations.
Geographical Regions:
North America currently holds the largest share of the global BIPV roofing market in terms of value, estimated at over 30% in 2024. Favorable government policies and robust solar sector in the US and Canada are major demand drivers in the region.
Asia Pacific region is poised to be the fastest growing regional market for BIPV roofing between 2024-2030, with China and Japan at the forefront of adoption. Rapid infrastructure growth, strong economic development and rising focus on renewable sources are fueling high installation rates of BIPV roofing systems across APAC nations.
