The potential for a rise in demand for renewable energy, combined with the electrification of transportation and increased involvement of oil and gas companies in the electricity value chain, is accelerating the convergence of the industries mentioned above. The surge in initiatives among states, cities, and utilities to pursue decarbonatization plans over the years is increasing the demand for renewable energy. The new administration is required to exercise its executive power to facilitate the implementation of renewables. This can include government land, procurement, foreign relations, trade, and agency appointments. Fossil fuels have dominated the energy production of most countries around the region since the industrial revolution. This significantly affects both the climate and human health. The combustion of fossil fuels for electricity results in three-quarters of greenhouse gas emissions. Fossil fuels are responsible for significant quantities of local air pollution. To reduce carbon dioxide emissions, renewable energy consumption has increased. Thus, the rise in investments in renewable power generation by major economies is expected to influence the uptake of building integrated photovoltaics during the forecast period.
North America Building Integrated Photovoltaics Market Segmentation
The North America 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 North America building integrated photovoltaics market is segmented into residential, commercial, and industrial. The residential segment accounted for the highest share in the North America building integrated photovoltaics market in 2020. Similarly, based on country, the market is segmented into the US, Canada, and Mexico. The US contributed a substantial share in 2020.
AGC Inc., ClearVue Technologies Limited, Heliatek, Onyx Solar Group LLC, and Saule Technologies are among the leading companies in the North America building integrated photovoltaics market.