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Report
Asia-Pacific Bipv Glass Market Forecast 2024-2032
Market Report I 2024-12-10 I 159 Pages I Inkwood Research
KEY FINDINGS
The Asia-Pacific BIPV glass market is set to grow at a CAGR of 19.08% during the projection period, 2024 to 2032. The market was valued at $1234.66 million in 2023 and is set to reach an estimated revenue of $5948.89 million by 2032. The market growth is driven by the increasing emphasis on integrating renewable energy solutions within the region's rapidly expanding construction industry.
MARKET INSIGHTS
The BIPV (building-integrated photovoltaic) glass market in the Asia-Pacific region is influenced by several factors, including the growing demand for sustainable and energy-efficient buildings, the expansion of the building and construction industry, and other related trends. The application of building-integrated photovoltaics is becoming more common as various countries in Asia-Pacific prioritize sustainability and energy efficiency in building design.
REGIONAL ANALYSIS
The growth analysis of the Asia-Pacific BIPV glass market covers key regions, including China, Japan, India, South Korea, Indonesia, Australia & New Zealand, and Rest of Asia-Pacific.
In recent years, the use of BIPV solar panels has seen increased adoption within the construction industry, particularly in the design of energy-efficient buildings. These panels help contribute to sustainability goals and enhance building performance by reducing reliance on fossil fuels. Energy efficiency and renewable energy are important considerations in the ongoing transition of the region's building sector, which is supporting the demand for BIPV glass. Furthermore, the rising demand for building integrated photovoltaic glass is aligned with policies supporting the development of zero-energy buildings and reducing the environmental impact of urbanization.
In addition, the building and construction industry is experiencing notable growth in the Asia-Pacific region, driven by rising investments in residential and commercial construction, a growing population, and urbanization. This development is positively influencing the demand for BIPV glass in residential, commercial, and industrial sectors. The region is home to several key players in the BIPV industry, alongside numerous smaller firms. Their presence contributes to the growth of the BIPV glass market, as many of these companies collaborate with construction firms and architects to offer solutions tailored to regional needs.
On the other hand, the Asia-Pacific BIPV glass market is characterized by the increasing adoption of solar energy panels in developing economies. Countries such as China, India, and Japan are investing heavily in renewable energy infrastructure and promoting the integration of solar power-generating modules within urban projects. This push is supported by government incentives and initiatives aimed at reducing dependency on fossil fuels, leading to a heightened focus on BIPV technology for both new and existing buildings. The emphasis on carbon footprint reduction further enhances the appeal of sustainable building materials like building integrated photovoltaic (BIPV) materials.
Moreover, companies in the region are adopting various strategies, such as launching new products and investing in research and development. For example, in April 2022, Japanese glass manufacturer AGC introduced a building-integrated PV panel designed for different building requirements. This product can be installed on facades, curtain walls, and canopies where regular glass is used. The SunJoule panels are customizable to meet specific client needs, offering options with monofacial or bifacial cells. Such innovations by market players contribute to the growth of the BIPV glass market in Asia-Pacific.
SEGMENTATION ANALYSIS
The Asia-Pacific BIPV glass market segmentation includes material, glazing type, component type, and end use. The material segment is further classified into crystalline silicon, amorphous silicon, and other materials.
One of the significant market segments by material in this region is amorphous silicon, which is used for its flexibility and suitability in diverse construction projects. Amorphous silicon provides an efficient solution for creating BIPV systems that integrate seamlessly into building facades, offering an alternative to traditional construction materials. This material's adaptability supports its application in a variety of industrial and commercial applications, especially as urban areas expand and the construction sector looks for innovative ways to meet energy needs while managing building aesthetics.
However, the market also faces challenges. High costs associated with BIPV installations and the technical expertise required for integrating building-integrated photovoltaic glass modules into complex building structures pose hurdles for widespread adoption. Additionally, the region's diverse climatic conditions create variability in the efficiency and effectiveness of photovoltaic modules, which can affect the performance of BIPV products across different locations.
COMPETITIVE INSIGHTS
Major companies operating in the Asia-Pacific BIPV glass market are Nippon Sheet Glass Co Ltd, JinkoSolar Holding Co Ltd, Hanergy Holding Group Ltd, etc.
JinkoSolar, headquartered in Shangrao, Jiangxi, China, manufactures a variety of solar products, including silicon ingots, wafers, solar modules, and both monocrystalline and multicrystalline photovoltaic (PV) panels. The company also provides engineering, procurement, and construction (EPC) services for solar systems. JinkoSolar distributes its products under the JinkoSolar brand to distributors, project developers, and system integrators in Asia-Pacific, the Americas, the Middle East, and Africa. The company's products serve applications in furnaces, wire saws, and various machinery, in addition to building-integrated photovoltaics (BIPV) glass.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. CRISIS SCENARIO ANALYSIS
2.4.1. IMPACT OF COVID-19 ON THE BIPV GLASS MARKET
2.5. MAJOR MARKET FINDINGS
2.5.1. INCREASING DEMAND FOR BUILDING INTEGRATED PHOTOVOLTAICS (BIPV) GLASS IN THE INDUSTRIAL SECTOR
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. SUPPORTIVE POLICIES AND TAX INCENTIVES FOR GREEN ENERGY
3.1.2. INCREASING DEMAND FOR ENERGY-NEUTRAL STRUCTURES
3.2. KEY RESTRAINTS
3.2.1. HIGH DEPLOYMENT EXPENSES AND LIMITED EFFICIENCY OF PHOTOVOLTAIC MODULES
3.2.2. CHALLENGING INSTALLATION AND INTEGRATION SLOWS BIPV ADOPTION
4. KEY ANALYTICS
4.1. PARENT MARKET ANALYSIS
4.2. KEY MARKET TRENDS
4.2.1. LIGHTWEIGHT, FLEXIBLE THIN-FILM TECHNOLOGY IMPROVES EFFICIENCY
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
4.5. MARKET MATURITY ANALYSIS
4.6. MARKET CONCENTRATION ANALYSIS
4.7. VALUE CHAIN ANALYSIS
4.7.1. RAW MATERIAL SUPPLIERS
4.7.2. MANUFACTURERS
4.7.3. DISTRIBUTORS
4.7.4. END-USERS
4.8. KEY BUYING CRITERIA
4.8.1. ENERGY EFFICIENCY
4.8.2. COST
4.8.3. DURABILITY
4.8.4. AFTER-SALES AND SERVICES
5. MARKET BY MATERIAL
5.1. CRYSTALLINE SILICON
5.2. AMORPHOUS SILICON
5.3. OTHER MATERIALS
6. MARKET BY GLAZING TYPE
6.1. SINGLE MODULE
6.2. DOUBLE MODULE
7. MARKET BY COMPONENT TYPE
7.1. BIPV GLASS ROOFS
7.2. BIPV GLASS FACADES
7.3. OTHER COMPONENT TYPES
8. MARKET BY END USE
8.1. RESIDENTIAL
8.2. COMMERCIAL
8.3. INDUSTRIAL
8.4. OTHER END USES
9. GEOGRAPHICAL ANALYSIS
9.1. ASIA-PACIFIC
9.1.1. MARKET SIZE & ESTIMATES
9.1.2. ASIA-PACIFIC BIPV GLASS MARKET DRIVERS
9.1.3. ASIA-PACIFIC BIPV GLASS MARKET CHALLENGES
9.1.4. ASIA-PACIFIC BIPV GLASS MARKET REGULATORY FRAMEWORK
9.1.5. KEY PLAYERS IN ASIA-PACIFIC BIPV GLASS MARKET
9.1.6. COUNTRY ANALYSIS
9.1.6.1. CHINA
9.1.6.1.1. CHINA BIPV GLASS MARKET SIZE & OPPORTUNITIES
9.1.6.2. JAPAN
9.1.6.2.1. JAPAN BIPV GLASS MARKET SIZE & OPPORTUNITIES
9.1.6.3. INDIA
9.1.6.3.1. INDIA BIPV GLASS MARKET SIZE & OPPORTUNITIES
9.1.6.4. SOUTH KOREA
9.1.6.4.1. SOUTH KOREA BIPV GLASS MARKET SIZE & OPPORTUNITIES
9.1.6.5. INDONESIA
9.1.6.5.1. INDONESIA BIPV GLASS MARKET SIZE & OPPORTUNITIES
9.1.6.6. AUSTRALIA & NEW ZEALAND
9.1.6.6.1. AUSTRALIA & NEW ZEALAND BIPV GLASS MARKET SIZE & OPPORTUNITIES
9.1.6.7. REST OF ASIA-PACIFIC
9.1.6.7.1. REST OF ASIA-PACIFIC BIPV GLASS MARKET SIZE & OPPORTUNITIES
10. COMPETITIVE LANDSCAPE
10.1. KEY STRATEGIC DEVELOPMENTS
10.1.1. MERGERS & ACQUISITIONS
10.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
10.1.3. PARTNERSHIPS & AGREEMENTS
10.1.4. BUSINESS EXPANSIONS & DIVESTITURES
10.2. COMPANY PROFILES
10.2.1. SHARP CORPORATION
10.2.1.1. COMPANY OVERVIEW
10.2.1.2. PRODUCT LIST
10.2.1.3. STRENGTHS & CHALLENGES
10.2.2. FIRST SOLAR
10.2.2.1. COMPANY OVERVIEW
10.2.2.2. PRODUCT LIST
10.2.2.3. STRENGTHS & CHALLENGES
10.2.3. TESLA
10.2.3.1. COMPANY OVERVIEW
10.2.3.2. PRODUCT LIST
10.2.3.3. STRENGTHS & CHALLENGES
10.2.4. CARMANAH TECHNOLOGIES CORP
10.2.4.1. COMPANY OVERVIEW
10.2.4.2. PRODUCT LIST
10.2.4.3. STRENGTHS & CHALLENGES
10.2.5. BELECTRIC
10.2.5.1. COMPANY OVERVIEW
10.2.5.2. PRODUCT LIST
10.2.5.3. STRENGTHS & CHALLENGES
10.2.6. WUXI SUNTECH POWER CO LTD
10.2.6.1. COMPANY OVERVIEW
10.2.6.2. PRODUCT LIST
10.2.6.3. STRENGTHS & CHALLENGES
10.2.7. BOROSIL RENEWABLES LTD.
10.2.7.1. COMPANY OVERVIEW
10.2.7.2. PRODUCT LIST
10.2.7.3. STRENGTHS & CHALLENGES
10.2.8. TAIYO KOGYO CORPORATION
10.2.8.1. COMPANY OVERVIEW
10.2.8.2. PRODUCTS LIST
10.2.8.3. STRENGTHS & CHALLENGES
10.2.9. ONYX SOLAR GROUP LLC
10.2.9.1. COMPANY OVERVIEW
10.2.9.2. PRODUCT LIST
10.2.9.3. STRENGTHS & CHALLENGES
10.2.10. AGC INC
10.2.10.1. COMPANY OVERVIEW
10.2.10.2. PRODUCTS LIST
10.2.10.3. STRENGTHS & CHALLENGES
10.2.11. SCHEUTEN
10.2.11.1. COMPANY OVERVIEW
10.2.11.2. PRODUCT LIST
10.2.11.3. STRENGTHS & CHALLENGES
10.2.12. GOODWE
10.2.12.1. COMPANY OVERVIEW
10.2.12.2. PRODUCTS LIST
10.2.12.3. STRENGTHS & CHALLENGES
10.2.13. ERTEX SOLAR
10.2.13.1. COMPANY OVERVIEW
10.2.13.2. PRODUCT LIST
10.2.13.3. STRENGTHS & CHALLENGES
10.2.14. NIPPON SHEET GLASS CO LTD
10.2.14.1. COMPANY OVERVIEW
10.2.14.2. PRODUCT LIST
10.2.14.3. STRENGTHS & CHALLENGES
10.2.15. HANERGY HOLDING GROUP LTD.
10.2.15.1. COMPANY OVERVIEW
10.2.15.2. PRODUCT LIST
10.2.15.3. STRENGTHS & CHALLENGES
10.2.16. JINKOSOLAR
10.2.16.1. COMPANY OVERVIEW
10.2.16.2. PRODUCT LIST
10.2.16.3. STRENGTHS & CHALLENGES
10.2.17. CANADIAN SOLAR
10.2.17.1. COMPANY OVERVIEW
10.2.17.2. PRODUCT LIST
10.2.17.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - BIPV GLASS MARKET
TABLE 2: ASIA-PACIFIC BIPV GLASS MARKET, BY MATERIAL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: ASIA-PACIFIC BIPV GLASS MARKET, BY MATERIAL, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: ASIA-PACIFIC BIPV GLASS MARKET, BY GLAZING TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: ASIA-PACIFIC BIPV GLASS MARKET, BY GLAZING TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: ASIA-PACIFIC BIPV GLASS MARKET, BY COMPONENT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: ASIA-PACIFIC BIPV GLASS MARKET, BY COMPONENT TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: ASIA-PACIFIC BIPV GLASS MARKET, BY END USE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: ASIA-PACIFIC BIPV GLASS MARKET, BY END USE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 10: ASIA-PACIFIC BIPV GLASS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 11: ASIA-PACIFIC BIPV GLASS MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 12: ASIA-PACIFIC BIPV GLASS MARKET REGULATORY FRAMEWORK
TABLE 13: KEY PLAYERS OPERATING IN ASIA-PACIFIC BIPV GLASS MARKET
TABLE 14: LIST OF MERGERS & ACQUISITIONS
TABLE 15: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 16: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 17: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR ASIA-PACIFIC
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: ASIA-PACIFIC BIPV GLASS MARKET, GROWTH POTENTIAL, BY MATERIAL, IN 2023
FIGURE 8: ASIA-PACIFIC BIPV GLASS MARKET, BY CRYSTALLINE SILICON, 2024-2032 (IN $ MILLION)
FIGURE 9: ASIA-PACIFIC BIPV GLASS MARKET, BY AMORPHOUS SILICON, 2024-2032 (IN $ MILLION)
FIGURE 10: ASIA-PACIFIC BIPV GLASS MARKET, BY OTHER MATERIALS, 2024-2032 (IN $ MILLION)
FIGURE 11: ASIA-PACIFIC BIPV GLASS MARKET, GROWTH POTENTIAL, BY GLAZING TYPE, IN 2023
FIGURE 12: ASIA-PACIFIC BIPV GLASS MARKET, BY SINGLE MODULE, 2024-2032 (IN $ MILLION)
FIGURE 13: ASIA-PACIFIC BIPV GLASS MARKET, BY DOUBLE MODULE, 2024-2032 (IN $ MILLION)
FIGURE 14: ASIA-PACIFIC BIPV GLASS MARKET, GROWTH POTENTIAL, BY COMPONENT TYPE, IN 2023
FIGURE 15: ASIA-PACIFIC BIPV GLASS MARKET, BY BIPV GLASS ROOFS, 2024-2032 (IN $ MILLION)
FIGURE 16: ASIA-PACIFIC BIPV GLASS MARKET, BY BIPV GLASS FACADES, 2024-2032 (IN $ MILLION)
FIGURE 17: ASIA-PACIFIC BIPV GLASS MARKET, BY OTHER COMPONENT TYPES, 2024-2032 (IN $ MILLION)
FIGURE 18: ASIA-PACIFIC BIPV GLASS MARKET, GROWTH POTENTIAL, BY END USE, IN 2023
FIGURE 19: ASIA-PACIFIC BIPV GLASS MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)
FIGURE 20: ASIA-PACIFIC BIPV GLASS MARKET, BY COMMERCIAL, 2024-2032 (IN $ MILLION)
FIGURE 21: ASIA-PACIFIC BIPV GLASS MARKET, BY INDUSTRIAL, 2024-2032 (IN $ MILLION)
FIGURE 22: ASIA-PACIFIC BIPV GLASS MARKET, BY OTHER END USES, 2024-2032 (IN $ MILLION)
FIGURE 23: ASIA-PACIFIC BIPV GLASS MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 24: CHINA BIPV GLASS MARKET, 2024-2032 (IN $ MILLION)
FIGURE 25: JAPAN BIPV GLASS MARKET, 2024-2032 (IN $ MILLION)
FIGURE 26: INDIA BIPV GLASS MARKET, 2024-2032 (IN $ MILLION)
FIGURE 27: SOUTH KOREA BIPV GLASS MARKET, 2024-2032 (IN $ MILLION)
FIGURE 28: AUSTRALIA & NEW ZEALAND BIPV GLASS MARKET, 2024-2032 (IN $ MILLION)
FIGURE 29: REST OF ASIA-PACIFIC BIPV GLASS MARKET, 2024-2032 (IN $ MILLION)
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