Building Applied Photovoltaics Market is growing at an impressive CAGR of 12.6% from 2014 to 2020
Transparency Market Research has published a new report that offers an in-depth study on the global building applied photovoltaics (BAPV) market. The report, titled “Building Applied Photovoltaics (BAPV) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2020”, is available for sale on the company’s website. The report offers insight into the current trends and dynamics in the global building applied photovoltaics (BAPV) market. The expert industry analysts have used SWOT analysis and Porter’s five forces analysis to make a fair assessment of the influential factors in this market.
According to the research report, the global BAPV market saw annual installations totaling 313.4 MW in 2013. It has been estimated that this figure will reach 716.7 MW by 2020, growing at an impressive CAGR of 12.6% from 2014 to 2020.The global building applied photovoltaics market is segmented on the basis of product type and region. The key products in this market are for rooftops, facades, and others. Regionally, the report covers the regional segments of Europe, North America, Asia Pacific, and Rest of the World.
Researchers note that the rooftop segment witnessed a sudden surge in demand in 2013. However, as the usage of building applied photovoltaics is majorly seen in facades, this segment will outpace the former.Geographically, North America held the lion’s share in the global building applied photovoltaics market in 2013, accounting for close to 31% of the overall market. This dominance can be attributed to the SunShot initiative, which has given a much-needed financial impetus to this market.
Europe accounted for 28% of the global building applied photovoltaics market in 2013. The credit for the success of the Europe market goes to strict regulations that are forcing the installation of building applied photovoltaics. However, in the coming five years, Asia Pacific is expected to be the next big thing in the global building applied photovoltaics market due to the emerging economy of many APAC countries. The ongoing commercial expansion and business development in this region will also augment the growth of the global building applied photovoltaics market.
In the coming years, expansion of the global building applied photovoltaics market will mainly be due to the supportive regulatory structure and increasing awareness about cost-effective energy solutions. The global building applied photovoltaics market will have its greatest opportunity with Zero Energy Building (ZEB), whose simplicity will win several consumers. Though the cost of the products in the BAPV market has been relatively high, technological developments will help in designing cost-effective solutions.
To offer its reader an understanding of the competitive landscape, the research experts have profiled some of the important players in this market. The companies studied in this report are First Solar, Inc., Ascent Solar Technologies, Inc., Pythagoras Solar Ltd., Sapa Solar, Centrosolar AG, and others (Dyesol, Power Film, Inc., Suntech Holding LLC, and United Solar Ovonic LLC.). The company profile is inclusive of a company overview, financial status, business and marketing strategies, and research and development status.