Bifacial Solar Market

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

Report Code: EP 9081 Jul, 2024, by marketsandmarkets.com

[280 Pages Report] The global bifacial solar market is projected to reach USD 37.6 billion by 2029 from an estimated USD 18.5 billion in 2024, at a CAGR of 15.2% during the forecast period. Cutting-edge innovations in materials, manufacturing techniques, and panel design are significantly enhancing the performance and lowering the costs of bifacial solar panels. Advanced materials increase energy absorption efficiency, while streamlined manufacturing processes reduce production expenses. Additionally, innovative panel designs maximize energy capture from both sides, further boosting overall output. These technological breakthroughs not only make bifacial solar panels more efficient and cost-effective but also expand their applicability in various settings, driving wider adoption and market growth.

Bifacial Solar Market

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Bifacial Solar Market  Opportunities

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Bifacial Solar Market Dynamics

Driver: Higher Efficiency and Durability

Bifacial solar panels are notably more durable than traditional monofacial panels, primarily due to their double-glass construction, which provides exceptional resistance to environmental challenges like hail, strong winds, and heavy snow. This sturdy design not only extends the panels' operational lifespan but also ensures consistent performance over time, making them an excellent choice for those seeking a secure, long-term investment in solar energy.

Additionally, bifacial solar panels significantly enhance efficiency compared to conventional panels. By capturing sunlight on both the front and back sides, these panels can generate up to 30% more energy under optimal conditions. This considerable boost in energy production is particularly advantageous in high-reflectivity environments, such as snow-covered fields, sandy deserts, and reflective rooftops. The dual-sided energy capture maximizes the energy output from a given installation area, making bifacial solar panels an appealing option for those looking to optimize their solar energy systems.

Restraint: Dependence on Albedo

The performance of bifacial solar panels heavily depends on the albedo, or reflectivity, of the surface beneath them, which enhances their energy production by capturing reflected sunlight. However, high-albedo surfaces are not always available, leading to potential reduced returns on investment in areas with low reflectivity. This reliance on albedo introduces a significant limitation for bifacial technology.

Additionally, the ideal placement of bifacial panels requires large, unobstructed areas with high reflectivity. However, limited land availability, especially in urbanized and densely populated regions, makes it challenging to find suitable locations for these installations. These constraints highlight the complexities in adopting bifacial solar technology broadly, as its benefits are dependent on specific environmental conditions and sufficient space. Addressing these challenges is essential to fully leverage the potential of bifacial solar energy in the renewable energy landscape..

Opportunities: Rise in government initiatives for bifacial solar technology

Governments worldwide are actively encouraging the adoption of bifacial solar technology through various incentive programs to address its slightly higher upfront costs compared to traditional monofacial panels. Key incentive structures include Feed-in Tariffs (FITs), which provide guaranteed payments for electricity generated. Some countries, such as China, offer higher rates for bifacial panels due to their increased output. Additionally, tax credits like the 30% US federal Investment Tax Credit (ITC) for solar installations in 2024 significantly lower initial costs, making bifacial panels more competitive. Grants, such as India's Production Linked Incentive (PLI) Scheme, provide financial incentives specifically for high-efficiency solar module manufacturers, further promoting the adoption of bifacial technology.

As the bifacial solar market evolves and becomes more cost-competitive, additional government incentives are anticipated to emerge, accelerating its widespread adoption. These developing policies, along with the inherent advantages of bifacial panels, will be crucial in transitioning to a cleaner and more sustainable energy future. Keeping up-to-date with the latest incentive programs in various regions is essential for maximizing the benefits of bifacial solar projects.

Challenges: Competition from traditional and other energy sources

In the evolving field of energy production, bifacial solar panels are emerging as a formidable competitor against the long-standing dominance of coal and natural gas. However, this transition faces significant obstacles, particularly the price volatility of traditional energy sources, which presents a major challenge to the adoption of bifacial solar technology. The fluctuating costs of coal and natural gas not only affect consumer choices but also shape governmental policies and industry investments, creating a substantial barrier to the widespread integration of bifacial solar panels into the energy market.

Despite these challenges, there is a promising opportunity for bifacial solar panels to demonstrate their resilience and potential. By utilizing technological advancements and taking advantage of economies of scale, the solar industry can work to lessen the impact of traditional energy price fluctuations. Moreover, proactive strategies such as innovative pricing models, government incentives, and targeted marketing campaigns can enhance the competitiveness of bifacial solar panels, paving the way for a sustainable energy future that surpasses the limitations of fossil fuels.

Bifacial Solar Market Ecosystem

In this market, prominent companies stand out as well-established and financially stable providers of bifacial solar. With years of experience, these companies boast a diverse product portfolio, cutting-edge technologies, and robust global sales and marketing networks. Their proven track record in the industry positions them as reliable and trusted partners for customers seeking bifacial solar. These companies have demonstrated their ability to adapt to market dynamics and consistently deliver high-quality products and services, making them leaders in meeting the demands of the energy and power sector. Prominent companies in this market LONGi (China), Trinasolar (China), Canadian Solar (Canada), JA SOLAR Technology Co., Ltd. (China), and SHARP CORPORATION (Japan).

Top Companies in Bifacial Solar Market

The residential segment, by application, is expected to be the fastest growing market during the forecast period.

The rising awareness of environmental issues and the urgent need to combat climate change are prompting more homeowners to consider renewable energy solutions. As people become more conscious of their carbon footprints, there is a stronger push towards adopting sustainable practices. Bifacial solar panels, which offer higher efficiency and better utilization of sunlight, are increasingly seen as an attractive option for residential energy needs. Homeowners are motivated by the dual benefits of contributing to environmental conservation and achieving greater energy independence, leading to a significant rise in the demand for these advanced solar technologies.

Asia Pacific: The fastest growing region in the bifacial solar market.

Asia Pacific is expected to be the fastest growing region in the bifacial solar market between 2024–2029. Regional market dynamics have a significant impact on the adoption of bifacial solar technologies in the Asia-Pacific region. High solar irradiance levels, diverse climate conditions, and varying stages of economic development are key factors. The plentiful sunlight in many areas creates ideal conditions for bifacial solar panels to maximize energy production. Moreover, the region's varied climates, ranging from tropical to temperate, require durable and adaptable solar technologies that bifacial panels provide. Economic growth across Asia-Pacific, with numerous countries experiencing rapid industrialization and urbanization, further drives the demand for advanced renewable energy solutions. These regional factors collectively shape the market, making bifacial solar technologies a well-suited and promising energy solution for the Asia-Pacific region.

Bifacial Solar Market  Size, and Share

Key Market Players

The bifacial solar market is dominated by a few major players that have a wide regional presence. The major players in the bifacial solar market include LONGi (China), Trinasolar (China), Canadian Solar (Canada), JA SOLAR Technology Co., Ltd. (China), and SHARP CORPORATION (Japan).  Between 2020 and 2024, Strategies such as new product launches, contracts, agreements, partnerships, collaborations, acquisitions, and expansions are followed by these companies to capture a larger share of the bifacial solar market.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD Million)/ Volume (Units)

Segments Covered

Bifacial Solar Market by type, frame type, cell technology, application and region.

Geographies covered

North America, Europe, Asia Pacific, and RoW.

Companies covered

LONGi (China), Trinasolar (China), Canadian Solar (Canada), JA SOLAR Technology Co., Ltd. (China), SHARP CORPORATION (Japan), Tata Power Solar Systems Ltd. (India), First Solar (US), Talesun Solar Co., Ltd (China), Adani Group (India), Wuxi Suntech Power Co., Ltd (China), are Yingli Solar (China), Jinko Solar (China), Hanwha Qcells (Korea), RenewSys India Pvt. Ltd (India), AUXIN SOLAR INC (US), CHINT Group (China), SolarEdge (Israel), SoliTek (Lithuania), SILFAB SOLAR INC. (Canada), SEG Solar (US), Saatvik Solar (India), Neosun Inc (China), ZNSHINE PV- TECH Co., Ltd (China), CROSSROADS SOLAR (US), and HD Hyundai Energy Solutions., Ltd (Korea).  

This research report categorizes the bifacial solar Market based on type, frame type, cell technology, application and region.

On the basis of type, the bifacial solar market has been segmented as follows:
  • Dual-Glass Bifacial Solar
  • Glass-backsheet Bifacial Solar
On the basis of frame type, the bifacial solar market has been segmented as follows:
  • Framed Bifacial Solar
  • Framless Bifacial Solar
On the basis of cell technology, the bifacial solar market has been segmented as follows:
  • Passivated Emitter Rear Contact (PERC)
  • TOPCon
  • Heterojunction (HJT)
On the basis of application, the bifacial solar market has been segmented as follows:
  • Residential
  • Commercial & Industrial
  • Utilities
Based on region, the bifacial solar market has been segmented as follows:
  • North America
  • Europe
  • Asia Pacific
  • RoW

Recent Developments

  • In June 2024, Canadian Solar has signed a 20-year Power Purchase Agreement (PPA) with Toyota Tsusho Corporation for a project development venture in Japan, encompassing 240 MWp of solar capacity and 1.675 GWh of energy storage. This agreement signifies our dedication to assisting Japanese businesses in fulfilling their renewable energy requirements, both domestically and internationally. The projects utilize CS7N-660W bifacial modules to deliver sustainable energy solutions.
  • In June 2024, ACWA Power and LONGi have inked a framework agreement. ACWA Power has over 4000 employees and 84 projects in operation, construction, or development across 13 countries in the Middle East, Africa, Central Asia, and Southeast Asia, totaling over $87.9 billion in asset investment, 57.071GW of installed power capacity, and 8.044 million tons/day of seawater desalination capacity. LONGi focuses on technological innovation and aims to expand its company into five areas: monocrystalline wafers, cells and modules, distributed generation solar solutions, utility plant system solutions, and hydrogen equipment solutions.
  • In May 2024, LONGi has announced the launch of its latest product, the Hi-MO X6 Max series, at its cutting-edge Jiaxing facility. The Hi-MO X6 Max series marks a key milestone for the corporation, coming after nine manufacturers secured an industry-wide consensus on module size standards and six manufacturers later agreed on wafer size requirements in July and August 2023, respectively. The launch marks LONGi's first large-scale switch to rectangular silicon wafers.

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1. OBJECTIVE OF THE STUDY 
    1.2. MARKET DEFINITION 
    1.3. INCLUSIONS AND EXCLUSIONS 
    1.4. MARKET SCOPE 
           1.4.1. MARKET SEGMENTATION
           1.4.2. REGIONAL SCOPE
    1.5. YEARS CONSIDERED 
    1.6. CURRENCY 
    1.7. LIMITATIONS 
    1.8. STAKEHOLDERS 
    1.9. IMPACT OF RECESSION 
 
2 RESEARCH METHODOLOGY  
    2.1. RESEARCH DATA 
    2.2. MARKET BREAKDOWN AND DATA TRIANGULATION 
           2.2.1. SECONDARY DATA
                    2.2.1.1. KEY DATA FROM SECONDARY SOURCES
           2.2.2. PRIMARY DATA
                    2.2.2.1. KEY DATA FROM PRIMARY SOURCES
                    2.2.2.2. BREAKDOWN OF PRIMARY INTERVIEWS
    2.3. MARKET SIZE ESTIMATION 
           2.3.1. BOTTOM-UP APPROACH
           2.3.2. TOP-DOWN APPROACH
           2.3.3. DEMAND-SIDE ANALYSIS
                    2.3.3.1. ASSUMPTIONS FOR DEMAND-SIDE ANALYSIS
                    2.3.3.2. CALCULATION FOR DEMAND-SIDE ANALYSIS
           2.3.4. SUPPLY-SIDE ANALYSIS
                    2.3.4.1. ASSUMPTION FOR SUPPLY-SIDE ANALYSIS 
                    2.3.4.2. CALCULATION FOR SUPPLY-SIDE 
    2.4. FORECAST 
           2.4.1. IMPACT OF RECESSION
           2.4.2. RESEARCH ASSUMPTIONS
           2.4.3. LIMITATIONS OF RESEARCH
           2.4.4. RISK ASSESSMENT
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1. INTRODUCTION 
    5.2. MARKET DYNAMICS  
           5.2.1. DRIVERS
           5.2.2. RESTRAINTS
           5.2.3. OPPORTUNITIES
           5.2.4. CHALLENGES
    5.3. TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS  
    5.4. SUPPLY/VALUE CHAIN ANALYSIS  
    5.5. ECOSYSTEM  
    5.6. CASE STUDY ANALYSIS  
    5.7. INVESTMENT AND FUNDING SCENARIO  
    5.8. TECHNOLOGY ANALYSIS  
           5.8.1. KEY TECHNOLOGIES
                    5.8.1.1. MONOCRYSTALLINE
                    5.8.1.2. POLYCRYSTALLINE
                    5.8.1.3. NANOCRYSTALLINE
           5.8.2. COMPLEMENTARY TECHNOLOGIES
                    5.8.2.1. P-TYPE SOLAR PANEL
                    5.8.2.2. N-TYPE SOLAR PANEL
                    5.8.2.3. P-N TYPE SOLAR PANEL
           5.8.3. ADJACENT TECHNOLOGY
                    5.8.3.1. MONOFACIAL SOLAR PANEL
                    5.8.3.2. PEROVSKITE
    5.9. TRADE ANALYSIS  
           5.10. PATENT ANALYSIS 
           5.11. KEY CONFERENCES & EVENTS IN 2024–2025 
           5.12. PRICING ANALYSIS - REMAINING
                    5.12.1. AVERAGE SELLING PRICE TREND, BY REGION
                    5.12.2. INDICATIVE PRICING ANALYSIS, BY TYPE
           5.13. REGULATORY LANDSCAPE 
                    5.13.1. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.13.2. REGULATORY FRAMEWORK
           5.14. PORTER’S FIVE FORCES ANALYSIS 
           5.15. KEY STAKEHOLDERS AND BUYING CRITERIA  
                    5.15.1. KEY STAKEHOLDERS IN BUYING PROCESS
                    5.15.2. BUYING CRITERIA
 
6 BIFACIAL SOLAR MARKET, BY POWER CAPACITY          
    6.1. INTRODUCTION 
    6.2. UPTO 200 WP 
    6.3. 200 - 400 WP 
    6.4. ABOVE 400 WP 
 
7 BIFACIAL SOLAR MARKET, BY TYPE 
(Value (USD Million) – 2019 - 2022, 2023, 2024, 2029)          
    7.1. INTRODUCTION 
    7.2. DUAL-GLASS BIFACIAL SOLAR  
    7.3. GLASS-BACKSHEET BIFACIAL SOLAR  
 
8 BIFACIAL SOLAR MARKET, BY FRAME TYPE 
(Value (USD Million) - 2019 - 2022, 2023, 2024, 2029)          
    8.1. INTRODUCTION 
    8.2. FRAMED BIFACIAL SOLAR 
    8.3. FRAMELESS BIFACIAL SOLAR 
 
9 BIFACIAL SOLAR MARKET, BY CELL TECHNOLOGY 
 (Value (USD Million) - 2019 - 2022, 2023, 2024, 2029)          
    9.1. INTRODUCTION 
    9.2. PASSIVATED EMITTER REAR CONTACT (PERC) 
    9.3. PASSIVATED EMITTER REAR TOTALLY DIFFUSED (PERT)  
    9.4. HETEROJUNCTION (HJT)  
 
10 BIFACIAL SOLAR MARKET, BY PANEL TYPE 
(Value (USD Million) - 2019 - 2022, 2023, 2024, 2029)             
     10.1. INTRODUCTION 
     10.2. MONOCRYSTALLINE 
     10.3. POLYCRYSTALLINE 
 
11 BIFACIAL SOLAR MARKET, BY APPLICATION 
(Value (USD Million) - 2019 - 2022, 2023, 2024, 2029)         
     11.1. INTRODUCTION 
     11.2. RESIDENTIAL 
     11.3. COMMERCIAL & INDUSTRIAL 
     11.4. UTILITIES 
 
12 BIFACIAL SOLAR MARKET, BY REGION 
(Value (USD Million) - 2019 - 2022, 2023, 2024, 2029)                        
     12.1. INTRODUCTION 
     12.2.  NORTH AMERICA 
               12.2.1. RECESSION IMPACT
               12.2.2. BY TYPE
               12.2.3. BY FRAME TYPE
               12.2.4. BY PANEL TYPE
               12.2.5. BY APPLICATION
               12.2.6. BY COUNTRY
                               12.2.6.1. US
                     12.2.6.1.1. BY APPLICATION
                               12.2.6.2. CANADA
                               12.2.6.3. MEXICO
     12.3. ASIA PACIFIC 
               12.3.1. RECESSION IMPACT
               12.3.2. BY TYPE
               12.3.3. BY FRAME TYPE
               12.3.4. BY PANEL TYPE
               12.3.5. BY APPLICATION
               12.3.6. BY COUNTRY
                               12.3.6.1. CHINA
                     12.3.6.1.1. BY APPLICATION
                               12.3.6.2. JAPAN
                               12.3.6.3. SOUTH KOREA
                               12.3.6.4. INDIA
                               12.3.6.5. REST OF ASIA PACIFIC
     12.4. EUROPE 
               12.4.1. RECESSION IMPACT
               12.4.2. BY TYPE
               12.4.3. BY FRAME TYPE
               12.4.4. BY PANEL TYPE
               12.4.5. BY APPLICATION
               12.4.6. BY COUNTRY
                               12.4.6.1. GERMANY
                     12.4.6.1.1. BY APPLICATION
                               12.4.6.2. ITALY
                               12.4.6.3. NETHERLANDS
                               12.4.6.4. SPAIN
                               12.4.6.5. FRANCE
                               12.4.6.6. REST OF EUROPE
     12.5. REST OF THE WORLD 
               12.5.1. RECESSION IMPACT
               12.5.2. BY TYPE
               12.5.3. BY FRAME TYPE
               12.5.4. BY PANEL TYPE
               12.5.5. BY APPLICATION
               12.5.6. BY COUNTRY
                               12.5.6.1. MIDDLE EAST & AFRICA
                                                  12.5.6.1.1. BY APPLICATION
                               12.5.6.2. SOUTH AMERICA
 
13 COMPETITIVE LANDSCAPE 
     13.1. KEY PLAYER STRATEGIES OVERVIEW 
     13.2. MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023 
     13.3. REVENUE ANALYSIS OF TOP 5 PLAYERS, 2019-2023 
     13.4. BRAND/PRODUCT COMPARISON 
     13.5. COMPANY VALUATION AND FINANCIAL METRICS 
     13.6. COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
               13.6.1. STARS
               13.6.2. EMERGING LEADERS
               13.6.3. PERVASIVE PLAYERS
               13.6.4. PARTICIPANTS
               13.6.5. COMPANY FOOTPRINT: KEY PLAYERS, 2023
                                 13.6.5.1. Company Footprint
                                 13.6.5.2. Region Footprint
                                 13.6.5.3. Type Footprint
                                 13.6.5.4. Frame Type Footprint
                                 13.6.5.5. Cell Footprint
                                 13.6.5.6. Application Footprint
                                 13.6.5.7. Panel Type Footprint
     13.7. COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 
               13.7.1. PROGRESSIVE COMPANIES 
               13.7.2. RESPONSIVE COMPANIES 
               13.7.3. DYNAMIC COMPANIES 
               13.7.4. STARTING BLOCKS
               13.7.5. COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 
                                 13.7.5.1. Detailed List of Key Startups/SMEs
                                 13.7.5.2. Competitive Benchmarking of Key Startups/SMEs
     13.8. COMPETITIVE SCENARIO AND TRENDS 
 
14 COMPANY PROFILES 
     14.1. KEY PLAYERS   
               14.1.1. SHARP ELECTRONICS
                              14.1.1.1. Business Overview
                              14.1.1.2. Products & Services
                              14.1.1.3. Recent Developments
                              14.1.1.4. MnM View
                                                  14.1.1.4.1. Key strategies/right to win 
                                                  14.1.1.4.2. Strategic choices made
                                                  14.1.1.4.3. Weaknesses/competitive threats
               14.1.2. WUXI SUNTECH POWER CO., LTD.
               14.1.3. HUAWEI TECHNOLOGIES CO., LTD.
               14.1.4. LG ELECTRONICS
               14.1.5. WAAREE ENERGIES LTD. 
               14.1.6. NEXUS SOLAR ENERGY
               14.1.7. LONGI
               14.1.8. JINKO SOLAR
               14.1.9. TRINASOLAR
               14.1.10. CANADIAN SOLAR
               14.1.11. FIRST SOLAR
               14.1.12. RENEWSYS INDIA PVT. LTD.
               14.1.13. NEOSUN INC. 
               14.1.14. SOLAREDGE
               14.1.15. CHINT GROUP
               14.1.16. JA SOLAR TECHNOLOGY CO., LTD.
               14.1.17. ADANI GROUP
               14.1.18. EMMVEE SOLAR
               14.1.19. YINGLI SOLAR
               14.1.20. TATA POWER SOLAR SYSTEMS LTD.
               14.1.21. SEG SOLAR 
               14.1.22. TALESUN SOLAR CO., LTD.
               14.1.23. CROSSROADS SOLAR
               14.1.24. ZNSHINE PV-TECH CO.,LTD
               14.1.25. PIXON
 
15 APPENDIX 
     15.1. INSIGHTS OF INDUSTRY EXPERTS 
     15.2. DISCUSSION GUIDE 
     15.3. KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.4. CUSTOMIZATION OPTIONS 
     15.5. RELATED REPORTS 
     15.6. AUTHOR DETAILS 

The study involved major activities in estimating the current size of the bifacial solar market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

This research study on the bifacial solar market involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg, Factiva, IRENA, International Energy Agency, and Statista Industry Journal, to collect and identify information useful for a technical, market-oriented, and commercial study of the bifacial solar market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The bifacial solar market comprises several stakeholders, such as bifacial solar manufacturers, technology providers, and technical support providers in the supply chain. The demand side of this market is characterized by the rising demand for storage solutions in various applications such as energy, mobility, industrial, and transportation. The supply side is characterized by rising demand for contracts from the industrial sector and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Bifacial Solar Market  Size, and Share

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Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the bifacial solar market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:  

  • The key players in the industry and market have been identified through extensive secondary research, and their market share has been determined through primary and secondary research.
  • The industry’s value chain and market size, in terms of value, have been determined through both primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.  

Bifacial Solar Market Size: Top-Down Approach

Bifacial Solar Market  Top Down Approach

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Bifacial Solar Market Size: Bottom-Up Approach

Bifacial Solar Market  Bottom Up Approach

Data Triangulation

After arriving at the overall market size from the above estimation process, the total market has been split into several segments and subsegments. Data triangulation and market breakdown processes have been employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

The bifacial solar market is a leading segment of the solar energy sector, focusing on the design, manufacturing, and use of bifacial solar panels. These panels are engineered to capture sunlight on both their front and back surfaces, significantly increasing energy production compared to traditional monofacial panels. By utilizing both direct sunlight and light reflected from the ground and nearby surfaces, bifacial panels offer enhanced efficiency and output. This dual-sided capability is particularly advantageous for installations over reflective surfaces such as snow, sand, or concrete, making them ideal for various applications, including large-scale solar farms, commercial rooftops, and residential setups. As global demand for efficient and cost-effective renewable energy solutions grows, bifacial solar technology is emerging as a key driver of industry progress.

Key Stakeholders

  • Bifacial solar Dealers and Suppliers
  • Government and Research Organizations
  • Power and Energy Associations
  • Repairs and Maintenance Service Providers
  • State and National Regulatory Authorities
  • Research And Consulting Companies in the Clean Energy Generation Sector
  • Organizations, Forums, Alliances, And Associations
  • Industrial Authorities and Association

State and National Regulatory Authorities Objectives of the Study

  • To forecast the bifacial solar Market based on type, frame type, cell technology, application and region in terms of value
  • To describe the market for four key regions: Asia Pacific, North America, Europe, and Rest of the World, along with their country-level market sizes in terms of value
  • To provide detailed information regarding key drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market size
  • To provide the supply chain analysis, trends/disruptions impacting customers’ businesses, market map, ecosystem analysis, tariffs and regulations, pricing analysis, patent analysis, case study analysis, technology analysis, key conferences and events, trade analysis, Porter’s five forces analysis, key stakeholders and buying criteria, and regulatory analysis of bifacial solar Market
  • To analyze opportunities for stakeholders in the bifacial solar and draw a competitive landscape of the market
  • To benchmark market players using the company evaluation matrix, which analyzes market players on broad categories of business and product strategies adopted by them
  • To compare key market players with respect to product specifications and utility
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To analyze competitive developments, such as contracts & agreements, investments & expansions, mergers & acquisitions, new product launches, partnerships, joint ventures & collaborations, in the bifacial solar Market.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Product Analysis

  • Product Matrix, which provides a detailed comparison of the product portfolio of each company  

Company Information

  • Detailed analyses and profiling of additional market players
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
EP 9081
Published ON
Jul, 2024
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