The demand for BIPV roofing is driven by rapid growth in residential construction activities globally. According to the National Association of Home Builders, the US residential construction sector is expected to witness high growth between 2023-2030 with rising urbanization. BIPV roofing offer an eco-friendly solution to new homes being constructed and help promote the use of renewable energy. They provide an aesthetic roofing alternative that blends seamlessly into the building architecture. With improved design flexibility and falling prices of solar PV modules, BIPV roofing are gaining more acceptance in the residential segment. The growing consumer demand for sustainable building materials is a major trend fueling the adoption of BIPV roofing worldwide.

Porter’s Analysis

Threat of new entrants: The need for high capital investment in research and development and manufacturing acts as a barrier for new players to enter the market.

Bargaining power of buyers: The presence of many established manufacturers gives buyers power to negotiate on price.

Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials required are commodities and available with many suppliers.

Threat of new substitutes: Emerging solar technologies can potentially replace BIPV roofing but currently there are no direct substitutes.

Competitive rivalry: Intense competition exists between existing players to gain market share and contract projects.

SWOT Analysis

Strength: BIPV panels can directly replace conventional building materials and provide both electricity and roofing. They have lower installation and maintenance costs than traditional solar panels.

Weakness: High initial costs compared to normal roofing materials. Weather dependency and need for battery storage reduce power output at night or during low sunlight hours.

Opportunity: Increasing emphasis on green buildings and carbon neutrality targets among governments and corporations worldwide. Rapid growth expected in commercial sector adoption for reduced electricity bills.

Threats: Fluctuations in price of raw materials like silicon can increase module costs. Dependency on government incentives and subsidies expose to policy changes.

Key Takeaways

The Global BIPV Roofing Market Size is expected to witness high growth, exhibiting CAGR of 21% over the forecast period, due to increasing mandates for use of renewable energy in construction industry. The commercial sector adoption is the major driver and BIPV is widely used in malls, office spaces for its advantages.

Regional analysis: North America dominated the market in 2023 due to tax credits and net metering policies in US & Canada stimulating installations. Asia Pacific is forecasted to be the fastest growing market during the forecast period due to government incentives and booming real estate sector in China, Japan and India.

For More Insights, Read- https://www.feedsfloor.com/other/bipv-roofing-market-estimated-witness-high-growth-owing-trends-residential-construction