India Building-integrated Photovoltaics Market Size & Outlook
India building-integrated photovoltaics market, 2019-2030 (US$M)
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India building-integrated photovoltaics market highlights
- The India building-integrated photovoltaics market generated a revenue of USD 879.8 million in 2023 and is expected to reach USD 3,248.0 million by 2030.
- The India market is expected to grow at a CAGR of 20.5% from 2024 to 2030.
- In terms of segment, c-si was the largest revenue generating technology in 2023.
- Thin Film is the most lucrative technology segment registering the fastest growth during the forecast period.
Building-integrated photovoltaics market data book summary
| Market revenue in 2023 | USD 879.8 million |
| Market revenue in 2030 | USD 3,248.0 million |
| Growth rate | 20.5% (CAGR from 2023 to 2030) |
| Largest segment | C-si |
| Fastest growing segment | Thin Film |
| Historical data | 2019 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | C-Si, Thin Film |
| Key market players worldwide | AGC Inc, Nippon Steel Corp, Solaria Energia y Medio Ambiente SA, Eltek Ltd |
Other key industry trends
- In terms of revenue, India accounted for 3.7% of the global building-integrated photovoltaics market in 2023.
- Country-wise, Germany is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China building-integrated photovoltaics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 11,865.7 million by 2030.
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Building-integrated Photovoltaics Market Scope
Building-integrated Photovoltaics Market Companies
| Name | Profile | # Employees | HQ | Website |
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India building-integrated photovoltaics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to building-integrated photovoltaics market will help companies and investors design strategic landscapes.
C-si was the largest segment with a revenue share of 74.54% in 2023. Horizon Databook has segmented the India building-integrated photovoltaics market based on c-si, thin film covering the revenue growth of each sub-segment from 2019 to 2030.
The market for BIPV in the country is estimated to be driven by the growing demand for non-renewable energy sources over the forecast period. However, the product has witnessed limited adoption in India on account of limited consumer awareness.
However, the growing efforts undertaken by companies such as Tata Power are predicted to result in a surge in the demand for building-integrated photovoltaics. In addition, the demand for photovoltaics is expected to register high growth on account of their superior efficiency. The demand for aesthetically pleasing solar energy-harnessing systems is anticipated to drive the market over the forecast period.
The Government of India has exhibited high affinity toward renewable energy sources in a bid to reduce the negative impact of depletion of non-renewable energy sources on the environment. It aims to produce 175 GW of renewable energy by 2022, comprising 100 GW of solar and 60 GW of wind energy.
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Target buyers of India building-integrated photovoltaics market databook
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Our clientele includes a mix of building-integrated photovoltaics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India building-integrated photovoltaics market , including forecasts for subscribers. This country databook contains high-level insights into India building-integrated photovoltaics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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India building integrated photovoltaics market size, by technology, 2019-2030 (US$M)
India Building-integrated Photovoltaics Market Outlook Share, 2023 & 2030 (US$M)
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