At 18.5% CAGR, North America BIPV Glass Market is Projected to be Worth US$ 3,201.23 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the North America BIPV glass market was valued at US$ 822.89 million in 2023 and is expected to reach US$ 3,201.23 million by 2031, registering a CAGR of 18.5% from 2023 to 2031. Growing commercial construction sector and rising popularity of solar energy are among the critical factors attributed to drive the North America BIPV glass market growth.

The rapid expansion of commercial facilities such as office buildings, shopping centers, and industrial complexes propels the demand for sustainable building materials and energy-efficient solutions. Manufacturing plants, warehouses, and other industrial facilities require substantial energy consumption for their operations. As businesses seek to optimize energy efficiency and reduce operational costs, BIPV glass emerges as a viable solution to offset electricity consumption and harness renewable energy directly on-site. The versatility and aesthetic appeal of BIPV glass contribute to its growing demand in industrial and commercial applications. BIPV glass offers a dual-purpose solution by serving as a building material and a renewable energy generator. This integration aligns with the sustainability goals of many commercial projects, allowing them to reduce their carbon footprint and energy costs simultaneously. According to the US Census Bureau, nonresidential construction spending increased to US$ 1,190.23 in January 2024 from US$ 1,016.42 in January 2023, a significant growth of 17.1%. In addition, according to the Center for Sustainable Systems, University of Michigan, commercial building floor space is projected to reach 124.6 billion square feet by 2050, a 29% increase from 2022. The aesthetic appeal of BIPV glass complements modern architectural designs, making it an attractive option for commercial developers seeking functionality and visual appeal. Further, the Department of Energy of the US has expressed interest in better understanding the relationship between builders, roofing companies, and solar PV installers. For instance, as of January 1, 2020, the California building code (California Code of Regulations, Title 24, Part 6) requires all new construction homes to have solar panel technology. The California Energy Commission, a key stakeholder in changing the California Code of Regulations to require residential solar power, brought about this change. As businesses increasingly prioritize sustainability and energy efficiency, BIPV glass emerges as a key solution for integrating renewable energy generation into commercial buildings. With ongoing innovations in BIPV technology and continued government support, the demand for BIPV glass is rising steadily.

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

Based on material, the North America BIPV glass market is segmented into crystalline silicone, amorphous silicon, and others. The crystalline silicone segment held 71.2% share of North America BIPV glass market share in 2023, amassing US$ 586.16 million. It is projected to garner US$ 2,335.55 million by 2031 to register 18.9% CAGR during 2023–2031.

In terms of glazing type, the North America BIPV glass market is bifurcated into single module and double module. The double module segment held 61.4% share of North America BIPV glass market in 2023, amassing US$ 505.53 million. It is anticipated to garner US$ 2,035.98 million by 2031 to expand at 19.0% CAGR during 2023–2031.

By component type, the North America BIPV glass market is divided into BIPV glass roofs, BIPV glass facades, and others (windows and floors). The BIPV glass roofs segment held 55.9% share of North America BIPV glass market in 2023, amassing US$ 459.73 million. It is projected to garner US$ 1,759.08 million by 2031 to expand at 18.3% CAGR from 2023 to 2031.

Based on end use, the North America BIPV glass market is categorized into residential, commercial, industrial, and lightweight hybrid construction. The commercial segment held 41.5% share of North America BIPV glass market in 2023, amassing US$ 341.64 million. It is predicted to garner US$ 1,349.51 million by 2031 to expand at 18.7% CAGR between 2023 and 2031.

By country, the North America BIPV glass market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 87.6% share of North America BIPV glass market in 2023. It was assessed at US$ 720.60 million in 2023 and is likely to hit US$ 2,830.18 million by 2031, registering a CAGR of 18.6% during 2023–2031.

Key players operating in the North America 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.; Mitrex; Roofit.Solar; GRENZEBACH ENVELON GMBH.; and Hanergy Holding Group Ltd., among others.

• In December 2021, Mitrex Integrated Solar Technology announced the release of their Solar Roof panels. The distinguishing feature of Mitrex BIPV Solar Roof is that they mimic the most popular roofing patterns. It also features a unique hidden and standard frame technology that allows visual integration with the non-solar roof sections, combining self-sufficient solar energy generation with architectural design.
• In May 2023, Vitro X™ Innovation Partnerships will identify and develop inspired solutions to challenges in the glass industry and support future-focused companies in bringing innovative products and technologies to market. This strategic partnership program is focused on identifying and developing inspired solutions to existing and future challenges in the glass industry.

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