South & Central America BIPV Glass Market Forecast to 2031 - Regional Analysis - by Material, Glazing Type, Component Type, and End Use

The South & Central America BIPV glass market was valued at US$ 117.40 million in 2023 and is expected to reach US$ 316.55 million by 2031; it is estimated to register a CAGR of 13.2% from 2023 to 2031.

Rising Adoption Rate of Renewable Energy Solutions in Emerging Economies Fuel South & Central America BIPV Glass Market

Emerging economies such as Asia Pacific, the Middle East & Africa, and South & Central America are proactively accelerating the adoption of renewable energy. Investments in setting up solar energy capacity in countries such as Brazil, China, India, Indonesia, the Philippines, and Turkey have increased in recent years. The BIPV installation of this company is specified to government buildings, hospitals, schools, exhibition centers, and other public buildings. According to the International Renewable Energy Agency (IRENA), Brazil ranked for the first time on the list of the top ten countries with the highest accumulated installed capacity of photovoltaic solar.

As per the data published by the Brazilian Solar Photovoltaic Energy Association (ABSOLAR), the new investments in the photovoltaic sector could exceed US$ 7.8 billion in 2024. The solar photovoltaic sector is expected to generate more than 281,600 new jobs in 2024 across all regions of Brazil. The solar photovoltaic developers in the country are expected to install more than 9.3 GW of solar capacity in 2024, which includes small and medium-scale systems such as roofs, building facades, and ground-mounted units and utility-scale systems such as large-scale plants, reaching a cumulative total of over 45.5 GW. BIPV glass is meant to be a substitute for traditional construction materials. Thus, the shift in trends toward the adoption of renewable energy solutions by developing nations is expected to boost the South & Central America BIPV glass market in the future.

South & Central America BIPV Glass Market Overview

The growing adoption of BIPV systems in the residential, commercial, and industrial sectors and the growth of the building & construction industry propel the BIPV glass market growth in South & Central America. Various environmental policies and energy policies are playing an important role in the development of BIPV technology in the region. The regulations related to building energy efficiency are boosting the adoption of BIPV glass in the region.

Further, in 2022, Brazil ranked fourth in the world on the US Green Building Council's annual list of Top 10 Countries and Regions for LEED. The country's dedication to sustainable architecture, environmental consciousness, and innovative energy solutions are fueling the BIPV glass market growth. With growing urbanization, a rising number of high-rise buildings, and increasing commercial construction activities, the application prospects of BIPV technology are extensive.

South & Central America BIPV Glass Market Revenue and Forecast to 2031 (US$ Million)

South & Central America BIPV Glass Market Segmentation

The South & Central America BIPV glass market is categorized into material, glazing type, component type, end use, and country.

Based on material, the South & Central America BIPV glass market is segmented into crystalline silicone, amorphous silicone, and others. The crystalline silicone segment held the largest share of South & Central America BIPV glass market share in 2023.

In terms of glazing type, the South & Central America BIPV glass market is bifurcated into single module and double module. The double module segment held a larger share of South & Central America BIPV glass market in 2023.

By component type, the South & Central America BIPV glass market is divided into BIPV glass roofs, BIPV glass facades, and others (windows and floors). The BIPV glass roofs segment held the largest share of South & Central America BIPV glass market in 2023.

Based on end use, the South & Central America BIPV glass market is categorized into residential, commercial, industrial, and others. The commercial segment held the largest share of South & Central America BIPV glass market in 2023.

By country, the South & Central America BIPV glass market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America BIPV glass market share in 2023.

Koch Industries, Inc.; AGC Inc.; Nippon Sheet Glass Co., Ltd.; Vitro, S.A.B de C.V; and Onyx Solar Group LLC. are some of the leading companies operating in the South & Central America BIPV glass market.