Austin, Oct. 24, 2025 (GLOBE NEWSWIRE) -- The Bifacial Solar Panel Market size was valued at USD 7.13 billion in 2024 and is expected to reach USD 17.30 billion by 2032, growing at a CAGR of 11.75% over 2025-2032.
As nations strive for decarbonization and carbon-neutral goals, the need for clean and renewable energy is expected to rise, propelling the growth of the bifurcated solar panel market.
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U.S. IoT in Retail Market was valued at USD 15.15 billion in 2024 and is expected to reach USD 89.37 billion by 2032, growing at a CAGR of 24.83% during 2025-2032.
The U.S. market growth is driven by the increased utility-scale project adoption, robust federal incentives, and improved energy efficiency.
Key Players:
- LONGi Solar
- Trina Solar
- JinkoSolar
- Canadian Solar (CSI Solar)
- JA Solar
- Risen Energy
- Jolywood
- Astronergy (CHINT)
- GCL System Integration (GCL-SI)
- HT-SAAE
- Suntech
- Qcells (Hanwha)
- EGing PV
- Talesun
- DMEGC
- ZNShine Solar
- Adani Solar
- Waaree Energies
- Vikram Solar
- Leapton Solar
Bifacial Solar Panel Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 7.13 Billion |
| Market Size by 2032 | USD 17.30 Billion |
| CAGR | CAGR of 11.75% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Technology (Monocrystalline, Polycrystalline, Thin-film) • By Application (Residential, Commercial, Utility-scale) • By Cell Structure (Half-cut, Shingled, Interdigitated Back Contact (IBC)) • By Bifaciality Factor (Below 80%, 80–90%, Above 90%) |
| Customization Scope | Available upon request |
| Pricing | Available upon request |
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Segmentation Analysis:
By Technology, Monocrystalline Segment Led the Market with 70.55% Share in 2024; Thin-film is the Fastest-Growing at a CAGR of 13.20%
In 2024, the Bifacial Solar Panel Market for Monocrystalline segment leads due to attributes such as higher efficiency, durability, and large-scale utility projects. Thin-film segment is anticipated to experience the fastest growth in 2025–2032, due to its lightweight and flexibility and the adaptability of Thin-film solar panels to floating solar and niche installations.
By Application, Residential Segment Dominated the Market with a Share of 9.10% in 2024; Commercial Segment is the Fastest-growing at a CAGR of 13.01%
In 2024, the Bifacial Solar Panel Market is dominated by the Residential segment due to increasing adoption of rooftop solar panels, favorable incentives, and growing consumer awareness regarding the benefits of clean energy. The Commercial segment is expected to grow at the fastest CAGR in the 2025–2032 period owing to the flexibility provided to businesses in terms of energy independence and effort to reduce operating costs as well as sustainability commitments.
By Cell Structure, Half-cut Segment Led with a Share of 67.80% in 2024, Shingled Segment to Grow at a CAGR of 12.94%
In 2024, half-cut cell structure segment dominates the market and is likely to continue leading in the forecast period due to its higher efficiency along with low power loss and better durability which eventually optimize market to suit large installations. The Shingled cell segment is expected to exhibit the highest growth over the period 2025–2032 due to its unique design of shingled overlap, which offers reduced space consumption, increased performance and greater aesthetics.
By Bifaciality Factor, Below 80% Segment Dominated with a Share of 5.80% in 2024, 80-90% Segment is Growing at the Fastest CAGR of 12.42%
In 2024, the below 80% segment held the largest share of the Bifacial Solar Panel Market, primarily owing to its commercial availability, reduced manufacturing costs, and increased installation in residential and utility-scale applications. The segment over the 80%–90% is expected to record the highest growth in 2024–2032 owing to continuous innovations in cell design, transparent backsheets, and encapsulation techniques.
Regional Insights:
In 2024, North America held a 20.15% share of the Bifacial Solar Panel Market, due to large-scale renewable energy projects, governmental support incentives, and swift adoption of solar power in residential, commercial, and utility-scale projects.
In 2024, Asia Pacific emerged as the fastest-growing bifacial solar panel market with a 12.53% share, supported by due to rapid industrial growth along with favorable government policies coupled with massive investments on renewable energy infrastructure.
Recent Developments:
- In May 2025, LONGi introduced the Ice-Shield bifacial module, featuring a 3.2 mm tempered glass layer for enhanced durability.
- In June 2025, Trina Solar unveiled a perovskite-silicon tandem solar module prototype delivering 841 W and 27.1% efficiency.
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Exclusive Sections of the Report (The USPs):
- Market Share & Competitive Rankings – helps you analyze the dominance of leading players, their regional presence, and ranking dynamics to understand who controls the market and where new entrants can gain ground.
- Growth & Technology Adoption Trends – helps you uncover the latest shifts in technology (PERC, HJT, TOPCon, single-axis trackers) and end-use adoption patterns across utility, commercial, and residential sectors to spot high-growth segments.
- Pricing & Revenue Benchmarks – helps you evaluate pricing trends between bifacial and monofacial panels, benchmark competitor price points, and assess revenue contribution across product lines for strategic pricing decisions.
- Operational & Capacity Utilization Metrics – helps you identify production efficiencies, regional output trends, and utilization rates to gauge supply-demand balance and manufacturing competitiveness.
- Supply Chain & Trade Flow Analysis – helps you assess import-export dependencies, raw material pricing trends (silicon, glass, aluminum, silver), and supply concentration risks that influence cost stability and production resilience.
- Investment & Policy Landscape – helps you track capital inflows from venture funding, M&A, and fab expansions, along with evaluating the impact of incentives, tariffs, and carbon-neutral policies shaping the bifacial solar market.
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