Dublin, May 07, 2025 (GLOBE NEWSWIRE) -- The "Bifacial Solar Market by Type (Dual-Glass, Glass-Backsheet), Frame Type (Framed, Frameless), Cell Technology (Passivated Emitter Rear Contact, Heterojunction, TOPCon), Application (Residential, Commercial & Industrial, Utilities) - Global Forecast to 2029" has been added to ResearchAndMarkets.com's offering.
The global bifacial solar market is projected to expand from USD 18.5 billion in 2024 to USD 37.6 billion by 2029, reflecting a CAGR of 15.2% over the forecast period. This growth is spurred by technological advancements and manufacturing efficiencies that have significantly reduced production costs. Supported by governmental policies and incentives, bifacial solar panels offer dual-side energy capture, enhancing their economic viability against traditional energy sources.
Passivated Emitter Rear Contact (PERC): Leading the Bifacial Solar Market
The market categorizes bifacial solar based on cell technologies: Passivated Emitter Rear Contact (PERC), TOPCon, and Heterojunction (HJT). The PERC segment is anticipated to dominate, benefiting from compatibility with innovations like half-cut cells and multi-busbar designs. These technological enhancements improve energy efficiency and durability, solidifying PERC's prominence in the evolving solar landscape.
Glass-backsheet Bifacial Solar: A Strong Contender
Within the market types, glass-backsheet bifacial solar is expected to be the second largest segment. Advances in production processes, especially in lamination and cell technology application, are driving performance improvements and cost reductions. These innovations, along with supportive regulatory frameworks, boost the adoption of glass-backsheet panels across various installations, both residential and commercial.
Asia Pacific: The Largest Market for Bifacial Solar
Asia Pacific is poised to be the largest region in the bifacial solar market during the forecast period. Enhanced grid integration and stability promote the feasibility of bifacial projects in this region. As renewable energy capacities expand, bifacial solar's integration into existing grids ensures reliable electricity supply and efficient energy management, paving the way for widespread adoption. Breakdown of Primaries: Industry insights were gathered through comprehensive interviews with key participants, subject-matter experts, and executives. The interview distribution is categorized as follows:
Key Benefits of Buying the Report:
- Government incentives boost market investment, though high initial costs and infrastructure shortages are challenges. The energy transition and urbanization present numerous opportunities for market players.
- Product Innovation: Market demand for eco-friendly and sustainable products drives significant innovation in bifacial solar technology.
- Market Development: Canadian Solar's multi-year agreement with Lightsource BP for high-efficiency modules in the US and Australia highlights market expansion with advanced bifacial products.
- Market Diversification: Canadian Solar's new facility in Indiana signifies a $800 million investment, aiming to enhance solar energy production with 1,200 high-tech jobs, supporting operations in Texas by 2025.
- Competitive Assessment: Detailed analyses of market shares, growth strategies, and offerings from leading players such as LONGi, Trinasolar, Canadian Solar, among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 337 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $18.5 Billion |
| Forecasted Market Value (USD) by 2029 | $37.6 Billion |
| Compound Annual Growth Rate | 15.2% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Declining Costs of Bifacial Solar Panels
- Higher Efficiency and Durability
Restraints
- Complexity of Installations
- Dependence on Albedo
Opportunities
- Government Initiatives on Bifacial Solar Technology
- Emergence of Advanced Technologies such as Topcon and Ibc
Challenges
- Grid Injection Challenges
- Competition from Other Energy Sources
Case Study Analysis
- Sharp Helped Big C Supermarket (Thailand) in Installation of Rooftop Solar Panels
- Hewlett Packard (Hp) Installed Solar Panels on Its Rooftops with Help of Sharp (Japan)
- Ashok Textiles' Strategies for Terrain-Driven Efficiency
Company Profiles
- Longi
- Canadian Solar
- Trinasolar
- Sharp Corporation
- Ja Solar Technology Co. Ltd.
- Jinko Solar
- Adani Group
- First Solar
- Renewsys India Pvt. Ltd.
- Hanwha Qcells
- Talesun Solar Co. Ltd.
- Hd Hyundai Energy Solutions. Ltd.
- Chint Group
- Solaredge
- Tata Power Solar Systems Ltd.
- Znshine Pv-Tech Co. Ltd.
- Yingli Solar
- Wuxi Suntech Power Co. Ltd.
- Crossroads Solar
- Seg Solar
- Neosun Inc.
- Auxin Solar Inc.
- Solitek
- Saatvik Solar
- Silfab Solar Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qakhwo
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