Report : Asia Pacific Building Integrated Photovoltaics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Colored and Regular), Type (Monocrystalline, Polycrystalline, and Thinflim), Application (Roofs, Walls, Glass, Façade, and Others), and End Use (Commercial, Residential, and Industrial)
Facade Segment to Dominate Asia-Pacific Building Integrated Photovoltaics Market during 2019–2028
According to a new market research study on “Asia-Pacific Building Integrated Photovoltaics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Type, Application, and End Use,” is expected to reach US$ 3,338.76 million by 2028 from US$ 1,032.74 million in 2021. The market is estimated to grow at a CAGR of 18.2% from 2021 to 2028. Increasing demand for renewable power generation across industrial sector the major factor driving the growth of the Asia-Pacific building integrated photovoltaics market. However, low uptake across developing countries may hinder the growth of Asia-Pacific building integrated photovoltaics market. The report provides trends prevailing in the Asia-Pacific building integrated photovoltaics market along with the drivers and restraints pertaining to the market growth.
The Asia-Pacific building integrated photovoltaics market is segmented into technology, type, application, end use, and country. Based on technology, the market is bifurcated into colored and regular. The regular segment accounted for a larger share in 2020. In terms of type, the market is segmented into monocrystalline, polycrystalline, and thinfilm. The monocrystalline segment accounted for the largest share of the market in 2020. Based on application, the market is segmented into roofs, walls, glass, façade, and others. The façade segment accounted for the largest share in 2020. Based on end use, the Asia-Pacific building integrated photovoltaics market is segmented into residential, commercial, and industrial. The residential segment accounted for the highest share in the Asia-Pacific building integrated photovoltaics market in 2020. Similarly, based on country, the market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia-Pacific. China contributed a substantial share in 2020.
AGC Inc., ClearVue Technologies Limited, Heliatek, Onyx Solar Group LLC, Saule Technologies, and Waaree Energies Ltd are among the leading companies in the Asia-Pacific building integrated photovoltaics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, ClearVue signed a Letter of Intent with Jinmao Green Building Technology Co. in China (a subsidiary of Fortune 500 Sinochem) to build a demonstration villa in Hebei Province, China, with the goal of eventually forming a distribution agreement or joint venture to distribute ClearVue's products in mainland China.
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