At 16.9% CAGR, Europe BIPV Glass Market is Projected to be Worth US$ 6,528.67 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe BIPV glass market was valued at US$ 1,877.46 million in 2023 and is expected to reach US$ 6,528.67 million by 2031, registering a CAGR of 16.9% from 2023 to 2031. Growing commercial construction sector and rising popularity of solar energy are among the critical factors attributed to drive the Europe BIPV glass market growth.

The upsurging use of solar energy is revolutionizing the construction industry and sustainable energy landscape. As societies across the world grapple with the urgent need to transition toward renewable energy sources and mitigate the impacts of climate change, solar power has emerged as a frontrunner due to its abundance, accessibility, and environmental benefits. The growing solar energy adoption fuels the demand for innovative solutions such as BIPV glass to seamlessly integrate solar technology into building structures. Governments, businesses, and individuals are increasingly embracing solar power to reduce carbon emissions, combat air pollution, and enhance energy security. BIPV glass plays a pivotal role in this transition by enabling buildings to generate their renewable energy while simultaneously fulfilling their functional and aesthetic requirements. Moreover, the versatility and design flexibility offered by BIPV glass contribute to its growing popularity in the construction industry. Unlike traditional solar panels, which are often bulky and visually intrusive, BIPV glass can be seamlessly integrated into building facades, windows, and roofing systems without compromising architectural aesthetics. This versatility allows architects and developers to incorporate solar energy solutions into their designs while maintaining the desired aesthetic appeal and enhancing the overall value of the property. Thus, rising popularity solar energy drives the growth of the BIPV glass market.

On the contrary, high initial investment cost and less energy efficiency for BIPV system hampers the growth of Europe BIPV glass market.

Based on material, the Europe BIPV glass market is segmented into crystalline silicone, amorphous silicone, and others. The crystalline silicone segment held 70.0% share of Europe BIPV glass market share in 2023, amassing US$ 1,313.32 million. It is projected to garner US$ 4,666.43 million by 2031 to register 17.2% CAGR during 2023-2031.

In terms of glazing type, the Europe BIPV glass market is bifurcated into single module and double module. The double module segment held 61.0% share of Europe BIPV glass market in 2023, amassing US$ 1,145.61 million. It is anticipated to garner US$ 4,091.42 million by 2031 to expand at 17.2% CAGR during 2023-2031.

By component type, the Europe BIPV glass market is divided into BIPV glass roofs, BIPV glass facades, and others (windows and floors). The BIPV glass roofs segment held 57.5% share of Europe BIPV glass market in 2023, amassing US$ 1,079.30 million. It is projected to garner US$ 3,685.84 million by 2031 to expand at 16.6% CAGR from 2023 to 2031.

Based on end use, the Europe BIPV glass market is categorized into residential, commercial, industrial, and lightweight hybrid construction. The residential segment held 43.5% share of Europe BIPV glass market in 2023, amassing US$ 816.89 million. It is predicted to garner US$ 3,033.64 million by 2031 to expand at 17.8% CAGR between 2023 and 2031.

By country, the Europe BIPV glass market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 30.4% share of Europe BIPV glass market in 2023. It was assessed at US$ 570.00 million in 2023 and is likely to hit US$ 1,831.20 million by 2031, registering a CAGR of 15.7% during 2023-2031.

Key players operating in the Europe BIPV glass market are Koch Industries, Inc.; AGC Inc.; Nippon Sheet Glass Co., Ltd.; Vitro, S.A.B de C.V; Onyx Solar Group LLC.; MetSolar; Roofit.Solar; GRENZEBACH ENVELON GMBH; and Hanergy Holding Group Ltd., among others.

• In December 2023, Pilkington United Kingdom Limited, part of the NSG Group, announced the successful launch of Europe's first carbon capture trial in the flat glass industry alongside partners C-Capture and Glass Futures.
  
  
• In May 2022, NSG Group announced the launch of its new "High-Performance Materials Website," a communication platform for promoting the unique functions and values of its various functional glass products.

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