ASIA-PACIFIC BUILDING INTEGRATED PHOTOVOLTAICS MARKET FORECAST 2023-2032

The Asia-Pacific building integrated photovoltaics market growth study encompasses the assessment of South Korea, Australia, Vietnam, China, Japan, India, and Rest of Asia-Pacific. Japan established a target cumulative photovoltaics (PV) installation capacity of 14 GW by the year 2020. Despite the country’s relatively smaller population, Japan’s energy consumption is significant, with renewable energy contributing to 40% of the overall energy consumption. The rising environmental pollution due to the increased usage of fossil fuels is one of the government’s greatest concerns, owing to which renewable energy generation is gaining high traction in the country. Furthermore, as per PV Tech, Japan is anticipated to install solar power generating a capacity of 111 GW by 2025, in addition to the aim of reaching 154 GW capacity by 2030.

Over the upcoming years, India is set to observe a rising trend of green buildings. The nation also committed to reaching net zero carbon emissions by the year 2070 at the UN Climate Change Conference (COP 26). Moreover, during the 19th edition of the Green Building Congress 2021, the Confederation of Indian Industry’s Indian Green Building Council (IGBC) set a target to net zero carbon buildings by 2050. While green buildings are a significant opportunity to decelerate the earth’s changing temperatures, their promotion and usage are expected to be a competitive advantage in India for decades. Hence, these factors are set to provide the Asia-Pacific building integrated photovoltaics market with lucrative growth opportunities over the estimated years.

The Asia-Pacific building integrated photovoltaics market is segmented into technology, application, and end-user. The end-user segment includes commercial, industrial, and residential. Multiple sub-segments under commercial buildings comprise agricultural buildings, historical buildings, hotels, showroom offices, universities and schools, sports venues and stadiums, big-box stores, green parking garages, public infrastructures, and others. 

The construction industry is also demonstrating high innovation owing to the considerable capital expenditure for developing zero-emission green facilities. As a result, the notable interest in environmentally friendly structures, coupled with the enhanced aesthetic appeal of BIPV facilities, is set to further augment the adoption of photovoltaics technology in commercial buildings.

The top firms operating in the Asia-Pacific building integrated photovoltaics market include Kaneka Corporation, AGC Inc, SunTech Power Co Ltd, etc. 

AGC Inc, formerly known as Asahi Glass Co Ltd and headquartered in Japan, is engaged in the marketing and manufacturing of chemicals, ceramics, electronic components, and glass. It also provides heat insulating and shielding glass, lightening glass products, LCD glass substrates, glass for solar power systems, fluorinated resins, specialty glass for display applications, vinyl chloride monomer, cover glass for car-mounted displays, and others. The company’s operations span the Americas, Europe, and Asia.