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
The global bifacial solar market is estimated to grow from USD 18.5 billion in 2024 to USD 37.6 billion by 2029; it is expected to record a CAGR of 15.2% during the forecast period. Bifacial solar panels are increasingly achieving grid parity across various global markets, positioning them as viable competitors to conventional energy sources. This parity is driven by advancements in technology and manufacturing efficiencies, which have lowered production costs significantly. Coupled with supportive policies and incentives from governments, these panels offer not only enhanced energy capture from both sides but also improved overall economic feasibility.
“Passivated Emitter Rear Contact (PERC)”: The largest segment of the bifacial solar market, by cell technology“
Based on cell technology, the bifacial solar market has been segmented into Passivated Emitter Rear Contact (PERC), TOPCon, and Heterojunction (HJT). The Passivated Emitter Rear Contact (PERC) segment is expected to be the largest segment during the forecast period. PERC cells demonstrate robust compatibility with cutting-edge advancements such as half-cut cells and multi-busbar designs, significantly amplifying overall panel performance. This synergy enhances energy generation efficiency and durability, optimizing the utilization of sunlight in both conventional and bifacial solar panel configurations. This integration not only boosts power output but also contributes to the scalability and cost-effectiveness of solar energy systems, reinforcing PERC technology's position as a pivotal driver in the evolving solar market landscape.
“By type, the Glass-backsheet Bifacial Solar segment is expected to be the second largest segment during the forecast period.”
Based on type, the bifacial solar market is segmented into glass-backsheet bifacial solar, and dual-glass bifacial solar. The glass-backsheet bifacial solar segment is expected to be the second largest segment of the bifacial solar market during the forecast period. As manufacturers refine their processes, such as the lamination of glass backsheet materials and the application of bifacial cell technology, production efficiencies improve. These advancements not only enhance the overall performance and durability of bifacial panels but also contribute to significant cost reductions over time. Moreover, innovations in materials science and engineering contribute to cost savings by improving the reliability and longevity of glass-backsheet panels, reducing maintenance costs and enhancing their overall lifetime value. Combined with supportive regulatory frameworks and increasing investor confidence in renewable energy technologies, these cost reduction efforts foster a favorable environment for the widespread adoption of glass-backsheet bifacial solar panels in both residential and utility-scale solar installations.
“Asia Pacific” is expected to be the largest region in the bifacial solar market.”
Asia pacific is expected to be the largest region in the bifacial solar market during the forecast period. Enhanced grid integration capabilities and improved grid stability are pivotal factors bolstering the feasibility and attractiveness of deploying bifacial solar projects across the Asia-Pacific region. As countries in this region continue to expand their renewable energy capacities, the integration of bifacial solar into existing grids becomes increasingly seamless. This advancement not only supports the reliability of electricity supply but also facilitates the efficient management of fluctuating renewable energy sources. Furthermore, advancements in grid technology tailored to regional climatic conditions and energy consumption patterns further optimize the performance of bifacial solar installations, promoting their widespread adoption as a sustainable energy solution in the Asia-Pacific context.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: North America- 10%, Europe- 25%, Asia Pacific- 35%, Middle East – 5%, Africa – 15%, South America – 10%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The bifacial solar market is dominated by a few major players that have a wide regional presence. The leading players in the bifacial solar market are LONGi (China), Trinasolar (China), Canadian Solar (Canada), JA SOLAR Technology Co., Ltd. (China), and SHARP CORPORATION (Japan). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global bifacial solar Market based on type, frame type, cell technology, application, and region. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the bifacial solar market.
Key Benefits of Buying the Report
“Passivated Emitter Rear Contact (PERC)”: The largest segment of the bifacial solar market, by cell technology“
Based on cell technology, the bifacial solar market has been segmented into Passivated Emitter Rear Contact (PERC), TOPCon, and Heterojunction (HJT). The Passivated Emitter Rear Contact (PERC) segment is expected to be the largest segment during the forecast period. PERC cells demonstrate robust compatibility with cutting-edge advancements such as half-cut cells and multi-busbar designs, significantly amplifying overall panel performance. This synergy enhances energy generation efficiency and durability, optimizing the utilization of sunlight in both conventional and bifacial solar panel configurations. This integration not only boosts power output but also contributes to the scalability and cost-effectiveness of solar energy systems, reinforcing PERC technology's position as a pivotal driver in the evolving solar market landscape.
“By type, the Glass-backsheet Bifacial Solar segment is expected to be the second largest segment during the forecast period.”
Based on type, the bifacial solar market is segmented into glass-backsheet bifacial solar, and dual-glass bifacial solar. The glass-backsheet bifacial solar segment is expected to be the second largest segment of the bifacial solar market during the forecast period. As manufacturers refine their processes, such as the lamination of glass backsheet materials and the application of bifacial cell technology, production efficiencies improve. These advancements not only enhance the overall performance and durability of bifacial panels but also contribute to significant cost reductions over time. Moreover, innovations in materials science and engineering contribute to cost savings by improving the reliability and longevity of glass-backsheet panels, reducing maintenance costs and enhancing their overall lifetime value. Combined with supportive regulatory frameworks and increasing investor confidence in renewable energy technologies, these cost reduction efforts foster a favorable environment for the widespread adoption of glass-backsheet bifacial solar panels in both residential and utility-scale solar installations.
“Asia Pacific” is expected to be the largest region in the bifacial solar market.”
Asia pacific is expected to be the largest region in the bifacial solar market during the forecast period. Enhanced grid integration capabilities and improved grid stability are pivotal factors bolstering the feasibility and attractiveness of deploying bifacial solar projects across the Asia-Pacific region. As countries in this region continue to expand their renewable energy capacities, the integration of bifacial solar into existing grids becomes increasingly seamless. This advancement not only supports the reliability of electricity supply but also facilitates the efficient management of fluctuating renewable energy sources. Furthermore, advancements in grid technology tailored to regional climatic conditions and energy consumption patterns further optimize the performance of bifacial solar installations, promoting their widespread adoption as a sustainable energy solution in the Asia-Pacific context.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: North America- 10%, Europe- 25%, Asia Pacific- 35%, Middle East – 5%, Africa – 15%, South America – 10%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The bifacial solar market is dominated by a few major players that have a wide regional presence. The leading players in the bifacial solar market are LONGi (China), Trinasolar (China), Canadian Solar (Canada), JA SOLAR Technology Co., Ltd. (China), and SHARP CORPORATION (Japan). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global bifacial solar Market based on type, frame type, cell technology, application, and region. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the bifacial solar market.
Key Benefits of Buying the Report
- Government initiatives at the national and international levels amplify the impact of investment on the bifacial solar market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of bifacial solar. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the bifacial solar.
- Product Development/ Innovation: The bifacial solar market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced bifacial solar for various applications.
- Market Development: Canadian Solar has announced a multi-year agreement with Lightsource BP to supply 1.2 GW of high-efficiency polycrystalline solar modules for projects in the US and Australia. The projects will utilize Canadian Solar's polycrystalline bifacial BiHiKu (CS3W-PB-AG) and HiKu (CS3W-P) modules. Canadian Solar, known globally for its solar cell and module innovations, specializes in bifacial modules that generate power from both the front and rear sides, increasing output compared to standard monofacial modules. The BiHiKu bifacial modules, noted for their high output, are expected to maximize power generation within limited plant areas.
- Market Diversification: Canadian Solar has announced the establishment of a new 5 GW solar PV cell manufacturing facility at the River Ridge Commerce Center in Jeffersonville, Indiana. This state-of-the-art plant will produce approximately 20,000 high-power modules daily, contributing significantly to solar energy production. Representing an investment exceeding $800 million, the facility is projected to generate about 1,200 skilled high-tech jobs once fully operational. The solar cells manufactured here will support Canadian Solar's module assembly plant in Mesquite, Texas, with production set to commence by the end of 2025.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include LONGi (China), Trinasolar (China), Canadian Solar (Canada), JA SOLAR Technology Co., Ltd. (China), and SHARP CORPORATION (Japan) among others in the bifacial solar market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 BIFACIAL SOLAR MARKET SEGMENTATION
1.4.2 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 UNITS CONSIDERED
1.7 LIMITATIONS
1.8 STAKEHOLDERS
1.9 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.2 SECONDARY AND PRIMARY RESEARCH
2.2.1 SECONDARY DATA
2.2.1.1 List of major secondary sources
2.2.1.2 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 List of primary interview participants
2.2.2.2 Key industry insights
2.2.2.3 Breakdown of primary interviews
2.2.2.4 Key data from primary sources
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
2.4.3 DEMAND-SIDE ANALYSIS
2.4.3.1 Calculations for demand-side analysis
2.4.4 SUPPLY-SIDE ANALYSIS
2.4.4.1 Assumptions for supply-side analysis
2.4.4.2 Calculations for supply-side analysis
2.5 GROWTH FORECAST ASSUMPTIONS
2.5.1 RESEARCH LIMITATIONS
2.5.2 RISK ASSESSMENT
2.5.3 IMPACT OF RECESSION ON BIFACIAL SOLAR MARKET
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BIFACIAL SOLAR MARKET
4.2 BIFACIAL SOLAR MARKET, BY REGION
4.3 BIFACIAL SOLAR MARKET, BY TYPE
4.4 BIFACIAL SOLAR MARKET, BY FRAME TYPE
4.5 BIFACIAL SOLAR MARKET, BY CELL TECHNOLOGY
4.6 BIFACIAL SOLAR MARKET, BY APPLICATION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Declining costs of bifacial solar panels
5.2.1.2 Higher efficiency and durability
5.2.2 RESTRAINTS
5.2.2.1 Complexity of installations
5.2.2.2 Dependence on albedo
5.2.3 OPPORTUNITIES
5.2.3.1 Government initiatives on bifacial solar technology
5.2.3.2 Emergence of advanced technologies such as TOPCon and IBC
5.2.4 CHALLENGES
5.2.4.1 Grid injection challenges
5.2.4.2 Competition from other energy sources
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES
5.4 PRICING ANALYSIS
5.4.1 AVERAGE PRICE TREND OF BIFACIAL SOLAR, BY REGION
5.4.2 INDICATIVE PRICE TREND OF BIFACIAL SOLAR, BY CELL TECHNOLOGY
5.5 SUPPLY CHAIN ANALYSIS
5.5.1 RAW MATERIAL PROVIDERS
5.5.2 BIFACIAL SOLAR MANUFACTURERS
5.5.3 BIFACIAL SOLAR SUPPLIERS
5.5.4 END USERS
5.6 ECOSYSTEM ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Monocrystalline
5.7.1.2 Polycrystalline
5.7.1.3 Nanocrystalline
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 P–Type solar panels
5.7.2.2 N–Type solar panels
5.7.2.3 P-N Type solar panels
5.7.3 ADJACENT TECHNOLOGIES
5.7.3.1 Monofacial solar panel
5.7.3.2 Perovskite solar cells
5.8 CASE STUDY ANALYSIS
5.8.1 SHARP HELPED BIG C SUPERMARKET (THAILAND) IN INSTALLATION OF ROOFTOP SOLAR PANELS
5.8.2 HEWLETT PACKARD (HP) INSTALLED SOLAR PANELS ON ITS ROOFTOPS WITH HELP OF SHARP (JAPAN)
5.8.3 ASHOK TEXTILES' STRATEGIES FOR TERRAIN-DRIVEN EFFICIENCY
5.9 PATENT ANALYSIS
5.9.1 LIST OF MAJOR PATENTS
5.10 TRADE ANALYSIS
5.10.1 HS CODE 854143
5.10.1.1 Export scenario
5.10.1.2 Import scenario
5.10.2 HS CODE 854142
5.10.2.1 Export scenario
5.10.2.2 Import scenario
5.11 KEY CONFERENCES AND EVENTS
5.12 REGULATORY LANDSCAPE
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12.2 BIFACIAL SOLAR MARKET: REGULATORY FRAMEWORK
5.13 PORTER'S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.14.2 BUYING CRITERIA
5.15 INVESTMENT AND FUNDING SCENARIO
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
7.1 INTRODUCTION
7.2 DUAL-GLASS BIFACIAL SOLAR
7.2.1 ENHANCED DURABILITY TO DRIVE DEMAND FOR DUAL-GLASS SEGMENT
7.3 GLASS-BACKSHEET BIFACIAL SOLAR
7.3.1 GOVERNMENT POLICIES TO BOOST ADOPTION OF GLASS-BACKSHEET BIFACIAL SOLAR TECHNOLOGY
8 BIFACIAL SOLAR MARKET, BY PANEL TYPE
8.1 INTRODUCTION
8.2 MONOCRYSTALLINE
8.2.1 LONGEVITY AND EFFICIENCY OF MONOCRYSTALLINE SOLAR PANELS T0 DRIVE MARKET
8.3 POLYCRYSTALLINE
8.3.1 LOWERING INVESTMENT BARRIERS IN POLYSILICON MANUFACTURING TO FUEL MARKET GROWTH
9 BIFACIAL SOLAR MARKET, BY FRAME TYPE
9.1 INTRODUCTION
9.2 FRAMED BIFACIAL SOLAR
9.2.1 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR FRAMED
BIFACIAL SOLAR
9.3 FRAMELESS BIFACIAL SOLAR
9.3.1 LOWER MAINTENANCE REQUIREMENTS IN EXTREME WEATHER
CONDITIONS TO FUEL MARKET
10 BIFACIAL SOLAR MARKET, BY CELL TECHNOLOGY
10.1 INTRODUCTION
10.2 PASSIVATED EMITTER AND REAR CONTACT (PERC)
10.2.1 STRENGTHENING GRID STABILITY WITH COMMUNITY SOLAR AND
PERC PANELS TO DRIVE MARKET
10.3 HETEROJUNCTION (HJT)
10.3.1 INNOVATIONS IN LID RESISTANCE WITH HJT SOLAR CELLS TO FUEL
MARKET GROWTH
10.4 TOPCON
10.4.1 OPTIMAL PERFORMANCE OF TOPCON CELLS IN FREEZING CLIMATES TO SUPPORT MARKET GROWTH
10.5 OTHER CELL TECHNOLOGIES
10.5.1 PASSIVATED EMITTER REAR LOCALLY-DIFFUSED (PERL)
10.5.2 INTERDIGITATED BACK CONTACT (IBC)
10.5.3 PASSIVATED EMITTER REAR TOTALLY DIFFUSED (PERT)
11 BIFACIAL SOLAR MARKET, BY APPLICATION
11.1 INTRODUCTION
11.2 RESIDENTIAL
11.2.1 ASIA PACIFIC TO BE LARGEST MARKET FOR BIFACIAL SOLAR IN RESIDENTIAL SECTOR
11.3 COMMERCIAL & INDUSTRIAL
11.3.1 RISING ELECTRICITY COSTS AND SHIFT TOWARDS SOLAR POWER TECHNOLOGY TO FUEL MARKET
11.4 UTILITIES
11.4.1 ENVIRONMENTAL BENEFITS OF SOLAR POWER PLANTS TO SUPPORT MARKET GROWTH
12 BIFACIAL SOLAR MARKET, BY REGION
12.1 INTRODUCTION
12.2 ASIA PACIFIC
12.2.1 RECESSION IMPACT: ASIA PACIFIC
12.2.2 BY TYPE
12.2.3 BY FRAME TYPE
12.2.4 BY CELL TECHNOLOGY
12.2.5 BY APPLICATION
12.2.6 BY COUNTRY
12.2.6.1 China
12.2.6.1.1 China to remain dominant market in Asia Pacific
12.2.6.2 Japan
12.2.6.2.1 Government initiatives to drive market growth
12.2.6.3 South Korea
12.2.6.3.1 Utilities segment to be largest end user of bifacial solar
12.2.6.4 Australia
12.2.6.4.1 Commercial & industrial application to register highest CAGR during forecast period
12.2.6.5 India
12.2.6.5.1 Strong government initiatives for renewable energy to drive market
12.2.6.6 Rest of Asia Pacific
12.3 NORTH AMERICA
12.3.1 RECESSION IMPACT: NORTH AMERICA
12.3.2 BY TYPE
12.3.3 BY FRAME TYPE
12.3.4 BY CELL TECHNOLOGY
12.3.5 BY APPLICATION
12.3.6 BY COUNTRY
12.3.6.1 US
12.3.6.1.1 Federal policies boosting solar energy integration to support market growth
12.3.6.2 Canada
12.3.6.2.1 Canada to witness scalable production and innovation in solar modules
12.3.6.3 Mexico
12.3.6.3.1 Utilities segment to be largest end user of bifacial solar
12.4 EUROPE
12.4.1 RECESSION IMPACT: EUROPE
12.4.2 BY TYPE
12.4.3 BY FRAME TYPE
12.4.4 BY CELL TECHNOLOGY
12.4.5 BY APPLICATION
12.4.6 BY COUNTRY
12.4.6.1 Germany
12.4.6.1.1 Government initiatives to support market growth
12.4.6.2 Italy
12.4.6.2.1 Utilities to be fastest-growing application of bifacial
solar in Italy
12.4.6.3 Netherlands
12.4.6.3.1 Investments and clean energy initiatives fueling
market growth
12.4.6.4 Spain
12.4.6.4.1 Energy transformation targets to support market growth
12.4.6.5 France
12.4.6.5.1 Supportive legislation to drive market growth in France
12.4.6.6 Rest of Europe
12.5 REST OF THE WORLD
12.5.1 RECESSION IMPACT: NORTH AMERICA
12.5.2 BY TYPE
12.5.3 BY FRAME TYPE
12.5.4 BY CELL TECHNOLOGY
12.5.5 BY APPLICATION
12.5.6 BY COUNTRY
12.5.6.1 Middle East & Africa
12.5.6.1.1 Increased investments in renewable energy to drive market
12.5.6.2 South America
12.5.6.2.1 Brazil to be major driver of bifacial solar market in South America
13 COMPETITIVE LANDSCAPE
13.1 OVERVIEW
13.2 STRATEGIES ADOPTED BY KEY PLAYERS
13.3 MARKET SHARE ANALYSIS
13.4 MARKET EVALUATION FRAMEWORK
13.5 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS
13.6 COMPANY VALUATION AND FINANCIAL METRICS
13.7 BRAND/PRODUCT COMPARISON
13.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
13.8.1 STARS
13.8.2 EMERGING LEADERS
13.8.3 PERVASIVE PLAYERS
13.8.4 PARTICIPANTS
13.8.5 COMPANY FOOTPRINT, KEY PLAYERS
13.8.5.1 Overall footprint
13.8.5.2 Region footprint
13.8.5.3 Type footprint
13.8.5.4 Frame type footprint
13.8.5.5 Cell technology footprint
13.8.5.6 Panel type footprint
13.8.5.7 Application footprint
13.9 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
13.9.1 PROGRESSIVE COMPANIES
13.9.2 RESPONSIVE COMPANIES
13.9.3 DYNAMIC COMPANIES
13.9.4 STARTING BLOCKS
13.9.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
13.9.5.1 List of key startups/SMEs
13.9.5.2 Competitive benchmarking of key startups/SMEs
13.10 COMPETITIVE SCENARIO AND TRENDS
13.10.1 PRODUCT LAUNCHES
13.10.2 DEALS
13.10.3 EXPANSIONS
13.10.4 OTHER DEVELOPMENTS
14 COMPANY PROFILES
14.1 KEY PLAYERS
14.1.1 LONGI
14.1.1.1 Business overview
14.1.1.2 Products/Solutions/Services offered
14.1.1.3 Recent developments
14.1.1.3.1 Product launches
14.1.1.3.2 Deals
14.1.1.3.3 Other developments
14.1.1.4 MnM View
14.1.1.4.1 Right to win
14.1.1.4.2 Strategic choices
14.1.1.4.3 Weaknesses and competitive threats
14.1.2 CANADIAN SOLAR
14.1.2.1 Business overview
14.1.2.2 Products/Solutions/Services offered
14.1.2.3 Recent developments
14.1.2.3.1 Product launches
14.1.2.3.2 Deals
14.1.2.3.3 Expansions
14.1.2.3.4 Other developments
14.1.2.4 MnM View
14.1.2.4.1 Right to win
14.1.2.4.2 Strategic choices
14.1.2.4.3 Weaknesses and competitive threats
14.1.3 TRINASOLAR
14.1.3.1 Business overview
14.1.3.2 Products/Solutions/Services offered
14.1.3.3 Recent developments
14.1.3.3.1 Product launches
14.1.3.3.2 Deals
14.1.3.3.3 Expansions
14.1.3.3.4 Other developments
14.1.3.4 MnM view
14.1.3.4.1 Right to win
14.1.3.4.2 Strategic choices
14.1.3.4.3 Weaknesses and competitive threats
14.1.4 SHARP CORPORATION
14.1.4.1 Business overview
14.1.4.2 Products/Solutions/Services offered
14.1.4.3 Recent developments
14.1.4.3.1 Product launches
14.1.4.3.2 Deals
14.1.4.3.3 Other developments
14.1.4.4 MnM view
14.1.4.4.1 Right to win
14.1.4.4.2 Strategic choices
14.1.4.4.3 Weaknesses and competitive threats
14.1.5 JA SOLAR TECHNOLOGY CO., LTD.
14.1.5.1 Business overview
14.1.5.2 Products/Solutions/Services offered
14.1.5.3 Recent developments
14.1.5.3.1 Product launches
14.1.5.3.2 Deals
14.1.5.3.3 Other developments
14.1.5.4 MnM View
14.1.5.4.1 Right to win
14.1.5.4.2 Strategic choices
14.1.5.4.3 Weaknesses and competitive threats
14.1.6 JINKO SOLAR
14.1.6.1 Business overview
14.1.6.2 Products/Solutions/Services offered
14.1.6.3 Recent developments
14.1.6.3.1 Product launches
14.1.6.3.2 Deals
14.1.6.3.3 Expansions
14.1.6.3.4 Other developments
14.1.7 ADANI GROUP
14.1.7.1 Business overview
14.1.7.2 Products/Solutions/Services offered
14.1.7.2.1 Product launches
14.1.7.2.2 Deals
14.1.8 FIRST SOLAR
14.1.8.1 Business overview
14.1.8.2 Products/Solutions/Services offered
14.1.8.3 Recent developments
14.1.8.3.1 Deals
14.1.8.3.2 Expansions
14.1.8.3.3 Other developments
14.1.9 RENEWSYS INDIA PVT. LTD.
14.1.9.1 Business overview
14.1.9.2 Products/Solutions/Services offered
14.1.9.3 Recent developments
14.1.9.3.1 Product launches
14.1.9.3.2 Deals
14.1.9.3.3 Expansions
14.1.10 HANWHA QCELLS
14.1.10.1 Business overview
14.1.10.2 Products/Services/Solutions offered
14.1.10.3 Recent developments
14.1.10.3.1 Deals
14.1.10.3.2 Expansions
14.1.10.3.3 Other developments
14.1.11 TALESUN SOLAR CO., LTD.
14.1.11.1 Business overview
14.1.11.2 Products/Solutions/Services offered
14.1.11.3 Recent developments
14.1.11.3.1 Deals
14.1.11.3.2 Expansions
14.1.11.3.3 Other developments
14.1.12 HD HYUNDAI ENERGY SOLUTIONS., LTD.
14.1.12.1 Business overview
14.1.12.2 Products/Solutions/Services offered
14.1.12.3 Recent developments
14.1.12.3.1 Expansions
14.1.13 CHINT GROUP
14.1.13.1 Business overview
14.1.13.2 Products/Services/Solutions offered
14.1.13.3 Recent developments
14.1.13.3.1 Deals
14.1.13.3.2 Other developments
14.1.14 SOLAREDGE
14.1.14.1 Business overview
14.1.14.2 Products/Services/Solutions offered
14.1.15 TATA POWER SOLAR SYSTEMS LTD.
14.1.15.1 Business overview
14.1.15.2 Products/Services/Solutions offered
14.1.15.3 Recent developments
14.1.15.3.1 Product launches
14.1.15.3.2 Deals
14.1.15.3.3 Expansions
14.1.15.3.4 Other developments
14.2 OTHER PLAYERS
14.2.1 ZNSHINE PV-TECH CO., LTD.
14.2.2 YINGLI SOLAR
14.2.3 WUXI SUNTECH POWER CO., LTD.
14.2.4 CROSSROADS SOLAR
14.2.5 SEG SOLAR
14.2.6 NEOSUN INC.
14.2.7 AUXIN SOLAR INC.
14.2.8 SOLITEK
14.2.9 SAATVIK SOLAR
14.2.10 SILFAB SOLAR INC.
15 APPENDIX
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
15.4 CUSTOMIZATION OPTIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 BIFACIAL SOLAR MARKET SEGMENTATION
1.4.2 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 UNITS CONSIDERED
1.7 LIMITATIONS
1.8 STAKEHOLDERS
1.9 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.2 SECONDARY AND PRIMARY RESEARCH
2.2.1 SECONDARY DATA
2.2.1.1 List of major secondary sources
2.2.1.2 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 List of primary interview participants
2.2.2.2 Key industry insights
2.2.2.3 Breakdown of primary interviews
2.2.2.4 Key data from primary sources
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
2.4.3 DEMAND-SIDE ANALYSIS
2.4.3.1 Calculations for demand-side analysis
2.4.4 SUPPLY-SIDE ANALYSIS
2.4.4.1 Assumptions for supply-side analysis
2.4.4.2 Calculations for supply-side analysis
2.5 GROWTH FORECAST ASSUMPTIONS
2.5.1 RESEARCH LIMITATIONS
2.5.2 RISK ASSESSMENT
2.5.3 IMPACT OF RECESSION ON BIFACIAL SOLAR MARKET
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BIFACIAL SOLAR MARKET
4.2 BIFACIAL SOLAR MARKET, BY REGION
4.3 BIFACIAL SOLAR MARKET, BY TYPE
4.4 BIFACIAL SOLAR MARKET, BY FRAME TYPE
4.5 BIFACIAL SOLAR MARKET, BY CELL TECHNOLOGY
4.6 BIFACIAL SOLAR MARKET, BY APPLICATION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Declining costs of bifacial solar panels
5.2.1.2 Higher efficiency and durability
5.2.2 RESTRAINTS
5.2.2.1 Complexity of installations
5.2.2.2 Dependence on albedo
5.2.3 OPPORTUNITIES
5.2.3.1 Government initiatives on bifacial solar technology
5.2.3.2 Emergence of advanced technologies such as TOPCon and IBC
5.2.4 CHALLENGES
5.2.4.1 Grid injection challenges
5.2.4.2 Competition from other energy sources
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES
5.4 PRICING ANALYSIS
5.4.1 AVERAGE PRICE TREND OF BIFACIAL SOLAR, BY REGION
5.4.2 INDICATIVE PRICE TREND OF BIFACIAL SOLAR, BY CELL TECHNOLOGY
5.5 SUPPLY CHAIN ANALYSIS
5.5.1 RAW MATERIAL PROVIDERS
5.5.2 BIFACIAL SOLAR MANUFACTURERS
5.5.3 BIFACIAL SOLAR SUPPLIERS
5.5.4 END USERS
5.6 ECOSYSTEM ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Monocrystalline
5.7.1.2 Polycrystalline
5.7.1.3 Nanocrystalline
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 P–Type solar panels
5.7.2.2 N–Type solar panels
5.7.2.3 P-N Type solar panels
5.7.3 ADJACENT TECHNOLOGIES
5.7.3.1 Monofacial solar panel
5.7.3.2 Perovskite solar cells
5.8 CASE STUDY ANALYSIS
5.8.1 SHARP HELPED BIG C SUPERMARKET (THAILAND) IN INSTALLATION OF ROOFTOP SOLAR PANELS
5.8.2 HEWLETT PACKARD (HP) INSTALLED SOLAR PANELS ON ITS ROOFTOPS WITH HELP OF SHARP (JAPAN)
5.8.3 ASHOK TEXTILES' STRATEGIES FOR TERRAIN-DRIVEN EFFICIENCY
5.9 PATENT ANALYSIS
5.9.1 LIST OF MAJOR PATENTS
5.10 TRADE ANALYSIS
5.10.1 HS CODE 854143
5.10.1.1 Export scenario
5.10.1.2 Import scenario
5.10.2 HS CODE 854142
5.10.2.1 Export scenario
5.10.2.2 Import scenario
5.11 KEY CONFERENCES AND EVENTS
5.12 REGULATORY LANDSCAPE
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12.2 BIFACIAL SOLAR MARKET: REGULATORY FRAMEWORK
5.13 PORTER'S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.14.2 BUYING CRITERIA
5.15 INVESTMENT AND FUNDING SCENARIO
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
7.1 INTRODUCTION
7.2 DUAL-GLASS BIFACIAL SOLAR
7.2.1 ENHANCED DURABILITY TO DRIVE DEMAND FOR DUAL-GLASS SEGMENT
7.3 GLASS-BACKSHEET BIFACIAL SOLAR
7.3.1 GOVERNMENT POLICIES TO BOOST ADOPTION OF GLASS-BACKSHEET BIFACIAL SOLAR TECHNOLOGY
8 BIFACIAL SOLAR MARKET, BY PANEL TYPE
8.1 INTRODUCTION
8.2 MONOCRYSTALLINE
8.2.1 LONGEVITY AND EFFICIENCY OF MONOCRYSTALLINE SOLAR PANELS T0 DRIVE MARKET
8.3 POLYCRYSTALLINE
8.3.1 LOWERING INVESTMENT BARRIERS IN POLYSILICON MANUFACTURING TO FUEL MARKET GROWTH
9 BIFACIAL SOLAR MARKET, BY FRAME TYPE
9.1 INTRODUCTION
9.2 FRAMED BIFACIAL SOLAR
9.2.1 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR FRAMED
BIFACIAL SOLAR
9.3 FRAMELESS BIFACIAL SOLAR
9.3.1 LOWER MAINTENANCE REQUIREMENTS IN EXTREME WEATHER
CONDITIONS TO FUEL MARKET
10 BIFACIAL SOLAR MARKET, BY CELL TECHNOLOGY
10.1 INTRODUCTION
10.2 PASSIVATED EMITTER AND REAR CONTACT (PERC)
10.2.1 STRENGTHENING GRID STABILITY WITH COMMUNITY SOLAR AND
PERC PANELS TO DRIVE MARKET
10.3 HETEROJUNCTION (HJT)
10.3.1 INNOVATIONS IN LID RESISTANCE WITH HJT SOLAR CELLS TO FUEL
MARKET GROWTH
10.4 TOPCON
10.4.1 OPTIMAL PERFORMANCE OF TOPCON CELLS IN FREEZING CLIMATES TO SUPPORT MARKET GROWTH
10.5 OTHER CELL TECHNOLOGIES
10.5.1 PASSIVATED EMITTER REAR LOCALLY-DIFFUSED (PERL)
10.5.2 INTERDIGITATED BACK CONTACT (IBC)
10.5.3 PASSIVATED EMITTER REAR TOTALLY DIFFUSED (PERT)
11 BIFACIAL SOLAR MARKET, BY APPLICATION
11.1 INTRODUCTION
11.2 RESIDENTIAL
11.2.1 ASIA PACIFIC TO BE LARGEST MARKET FOR BIFACIAL SOLAR IN RESIDENTIAL SECTOR
11.3 COMMERCIAL & INDUSTRIAL
11.3.1 RISING ELECTRICITY COSTS AND SHIFT TOWARDS SOLAR POWER TECHNOLOGY TO FUEL MARKET
11.4 UTILITIES
11.4.1 ENVIRONMENTAL BENEFITS OF SOLAR POWER PLANTS TO SUPPORT MARKET GROWTH
12 BIFACIAL SOLAR MARKET, BY REGION
12.1 INTRODUCTION
12.2 ASIA PACIFIC
12.2.1 RECESSION IMPACT: ASIA PACIFIC
12.2.2 BY TYPE
12.2.3 BY FRAME TYPE
12.2.4 BY CELL TECHNOLOGY
12.2.5 BY APPLICATION
12.2.6 BY COUNTRY
12.2.6.1 China
12.2.6.1.1 China to remain dominant market in Asia Pacific
12.2.6.2 Japan
12.2.6.2.1 Government initiatives to drive market growth
12.2.6.3 South Korea
12.2.6.3.1 Utilities segment to be largest end user of bifacial solar
12.2.6.4 Australia
12.2.6.4.1 Commercial & industrial application to register highest CAGR during forecast period
12.2.6.5 India
12.2.6.5.1 Strong government initiatives for renewable energy to drive market
12.2.6.6 Rest of Asia Pacific
12.3 NORTH AMERICA
12.3.1 RECESSION IMPACT: NORTH AMERICA
12.3.2 BY TYPE
12.3.3 BY FRAME TYPE
12.3.4 BY CELL TECHNOLOGY
12.3.5 BY APPLICATION
12.3.6 BY COUNTRY
12.3.6.1 US
12.3.6.1.1 Federal policies boosting solar energy integration to support market growth
12.3.6.2 Canada
12.3.6.2.1 Canada to witness scalable production and innovation in solar modules
12.3.6.3 Mexico
12.3.6.3.1 Utilities segment to be largest end user of bifacial solar
12.4 EUROPE
12.4.1 RECESSION IMPACT: EUROPE
12.4.2 BY TYPE
12.4.3 BY FRAME TYPE
12.4.4 BY CELL TECHNOLOGY
12.4.5 BY APPLICATION
12.4.6 BY COUNTRY
12.4.6.1 Germany
12.4.6.1.1 Government initiatives to support market growth
12.4.6.2 Italy
12.4.6.2.1 Utilities to be fastest-growing application of bifacial
solar in Italy
12.4.6.3 Netherlands
12.4.6.3.1 Investments and clean energy initiatives fueling
market growth
12.4.6.4 Spain
12.4.6.4.1 Energy transformation targets to support market growth
12.4.6.5 France
12.4.6.5.1 Supportive legislation to drive market growth in France
12.4.6.6 Rest of Europe
12.5 REST OF THE WORLD
12.5.1 RECESSION IMPACT: NORTH AMERICA
12.5.2 BY TYPE
12.5.3 BY FRAME TYPE
12.5.4 BY CELL TECHNOLOGY
12.5.5 BY APPLICATION
12.5.6 BY COUNTRY
12.5.6.1 Middle East & Africa
12.5.6.1.1 Increased investments in renewable energy to drive market
12.5.6.2 South America
12.5.6.2.1 Brazil to be major driver of bifacial solar market in South America
13 COMPETITIVE LANDSCAPE
13.1 OVERVIEW
13.2 STRATEGIES ADOPTED BY KEY PLAYERS
13.3 MARKET SHARE ANALYSIS
13.4 MARKET EVALUATION FRAMEWORK
13.5 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS
13.6 COMPANY VALUATION AND FINANCIAL METRICS
13.7 BRAND/PRODUCT COMPARISON
13.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
13.8.1 STARS
13.8.2 EMERGING LEADERS
13.8.3 PERVASIVE PLAYERS
13.8.4 PARTICIPANTS
13.8.5 COMPANY FOOTPRINT, KEY PLAYERS
13.8.5.1 Overall footprint
13.8.5.2 Region footprint
13.8.5.3 Type footprint
13.8.5.4 Frame type footprint
13.8.5.5 Cell technology footprint
13.8.5.6 Panel type footprint
13.8.5.7 Application footprint
13.9 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
13.9.1 PROGRESSIVE COMPANIES
13.9.2 RESPONSIVE COMPANIES
13.9.3 DYNAMIC COMPANIES
13.9.4 STARTING BLOCKS
13.9.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
13.9.5.1 List of key startups/SMEs
13.9.5.2 Competitive benchmarking of key startups/SMEs
13.10 COMPETITIVE SCENARIO AND TRENDS
13.10.1 PRODUCT LAUNCHES
13.10.2 DEALS
13.10.3 EXPANSIONS
13.10.4 OTHER DEVELOPMENTS
14 COMPANY PROFILES
14.1 KEY PLAYERS
14.1.1 LONGI
14.1.1.1 Business overview
14.1.1.2 Products/Solutions/Services offered
14.1.1.3 Recent developments
14.1.1.3.1 Product launches
14.1.1.3.2 Deals
14.1.1.3.3 Other developments
14.1.1.4 MnM View
14.1.1.4.1 Right to win
14.1.1.4.2 Strategic choices
14.1.1.4.3 Weaknesses and competitive threats
14.1.2 CANADIAN SOLAR
14.1.2.1 Business overview
14.1.2.2 Products/Solutions/Services offered
14.1.2.3 Recent developments
14.1.2.3.1 Product launches
14.1.2.3.2 Deals
14.1.2.3.3 Expansions
14.1.2.3.4 Other developments
14.1.2.4 MnM View
14.1.2.4.1 Right to win
14.1.2.4.2 Strategic choices
14.1.2.4.3 Weaknesses and competitive threats
14.1.3 TRINASOLAR
14.1.3.1 Business overview
14.1.3.2 Products/Solutions/Services offered
14.1.3.3 Recent developments
14.1.3.3.1 Product launches
14.1.3.3.2 Deals
14.1.3.3.3 Expansions
14.1.3.3.4 Other developments
14.1.3.4 MnM view
14.1.3.4.1 Right to win
14.1.3.4.2 Strategic choices
14.1.3.4.3 Weaknesses and competitive threats
14.1.4 SHARP CORPORATION
14.1.4.1 Business overview
14.1.4.2 Products/Solutions/Services offered
14.1.4.3 Recent developments
14.1.4.3.1 Product launches
14.1.4.3.2 Deals
14.1.4.3.3 Other developments
14.1.4.4 MnM view
14.1.4.4.1 Right to win
14.1.4.4.2 Strategic choices
14.1.4.4.3 Weaknesses and competitive threats
14.1.5 JA SOLAR TECHNOLOGY CO., LTD.
14.1.5.1 Business overview
14.1.5.2 Products/Solutions/Services offered
14.1.5.3 Recent developments
14.1.5.3.1 Product launches
14.1.5.3.2 Deals
14.1.5.3.3 Other developments
14.1.5.4 MnM View
14.1.5.4.1 Right to win
14.1.5.4.2 Strategic choices
14.1.5.4.3 Weaknesses and competitive threats
14.1.6 JINKO SOLAR
14.1.6.1 Business overview
14.1.6.2 Products/Solutions/Services offered
14.1.6.3 Recent developments
14.1.6.3.1 Product launches
14.1.6.3.2 Deals
14.1.6.3.3 Expansions
14.1.6.3.4 Other developments
14.1.7 ADANI GROUP
14.1.7.1 Business overview
14.1.7.2 Products/Solutions/Services offered
14.1.7.2.1 Product launches
14.1.7.2.2 Deals
14.1.8 FIRST SOLAR
14.1.8.1 Business overview
14.1.8.2 Products/Solutions/Services offered
14.1.8.3 Recent developments
14.1.8.3.1 Deals
14.1.8.3.2 Expansions
14.1.8.3.3 Other developments
14.1.9 RENEWSYS INDIA PVT. LTD.
14.1.9.1 Business overview
14.1.9.2 Products/Solutions/Services offered
14.1.9.3 Recent developments
14.1.9.3.1 Product launches
14.1.9.3.2 Deals
14.1.9.3.3 Expansions
14.1.10 HANWHA QCELLS
14.1.10.1 Business overview
14.1.10.2 Products/Services/Solutions offered
14.1.10.3 Recent developments
14.1.10.3.1 Deals
14.1.10.3.2 Expansions
14.1.10.3.3 Other developments
14.1.11 TALESUN SOLAR CO., LTD.
14.1.11.1 Business overview
14.1.11.2 Products/Solutions/Services offered
14.1.11.3 Recent developments
14.1.11.3.1 Deals
14.1.11.3.2 Expansions
14.1.11.3.3 Other developments
14.1.12 HD HYUNDAI ENERGY SOLUTIONS., LTD.
14.1.12.1 Business overview
14.1.12.2 Products/Solutions/Services offered
14.1.12.3 Recent developments
14.1.12.3.1 Expansions
14.1.13 CHINT GROUP
14.1.13.1 Business overview
14.1.13.2 Products/Services/Solutions offered
14.1.13.3 Recent developments
14.1.13.3.1 Deals
14.1.13.3.2 Other developments
14.1.14 SOLAREDGE
14.1.14.1 Business overview
14.1.14.2 Products/Services/Solutions offered
14.1.15 TATA POWER SOLAR SYSTEMS LTD.
14.1.15.1 Business overview
14.1.15.2 Products/Services/Solutions offered
14.1.15.3 Recent developments
14.1.15.3.1 Product launches
14.1.15.3.2 Deals
14.1.15.3.3 Expansions
14.1.15.3.4 Other developments
14.2 OTHER PLAYERS
14.2.1 ZNSHINE PV-TECH CO., LTD.
14.2.2 YINGLI SOLAR
14.2.3 WUXI SUNTECH POWER CO., LTD.
14.2.4 CROSSROADS SOLAR
14.2.5 SEG SOLAR
14.2.6 NEOSUN INC.
14.2.7 AUXIN SOLAR INC.
14.2.8 SOLITEK
14.2.9 SAATVIK SOLAR
14.2.10 SILFAB SOLAR INC.
15 APPENDIX
15.1 INSIGHTS FROM INDUSTRY EXPERTS
15.2 DISCUSSION GUIDE
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
15.4 CUSTOMIZATION OPTIONS
15.5 RELATED REPORTS
15.6 AUTHOR DETAILS
