The building integrated photovoltaics market in North America is expected to grow from US$ 1,414.93 million in 2021 to US$ 3,704.92 million by 2028; it is estimated to grow at a CAGR of 14.7% from 2021 to 2028.
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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 Strategic Insights
Strategic insights for the North America Building Integrated Photovoltaics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
key company profiles
AGC Inc.
ClearVue Technologies Limited
Heliatek
Onyx Solar Group L
North America Building Integrated Photovoltaics Regional Insights
The geographic scope of the North America Building Integrated Photovoltaics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights