Press release
Bifacial Solar Market Report 2024: Size, Share, Growth, Trends, Industry Outlook, Competitive Landscape, Forecast to 2033
Bifacial Solar Market
As per the report, the bifacial solar market size has grown rapidly in recent years. It will grow from $8.02 billion in 2023 to $9.14 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The bifacial solar market size is expected to see rapid growth in the next few years. It will grow to $15.48 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%.
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What Is Driving The Growth Of The Global Bifacial Solar Market?
Surge In Solar Electricity Demand Boosts Bifacial Solar Market Expansion
The increasing demand for solar-based electricity is expected to propel the growth of the bifacial solar market going forward. Solar-based electricity refers to electrical power generated from sunlight using photovoltaic cells or solar thermal systems. The demand for solar-based electricity is experiencing growth due to increasing environmental concerns and the push towards renewable energy sources to mitigate climate change. The bifacial solar enhances solar-based electricity generation by allowing solar panels to capture sunlight from both sides, significantly increasing energy yield compared to traditional monofacial panels.
What Is The Key Trend In The Global Bifacial Solar Market?
Advanced Tunnel Oxide Passivated Contact Bifacial Photovoltaics (PV) Modules Enhance Solar Efficiency And Power Output
Major companies operating in the bifacial solar market are focusing on shifting towards advancements in bifacial solar technology, such as TOPCon bifacial PV modules, to gain a competitive edge in the market. TOPCon (Tunnel Oxide Passivated Contact) bifacial PV modules are advanced photovoltaic modules that combine TOPCon technology with bifacial capability. They are designed to capture sunlight from both sides of the module, enhancing energy generation efficiency compared to traditional monofacial modules.
How Is The Global Bifacial Solar Market Segmented?
The bifacial solar market market covered in this report is segmented -
1) By Type: Monocrystalline Bifacial Solar Panels, Polycrystalline Bifacial Solar Panels, Thin-Film Bifacial Solar Panels
2) By Installation: Ground-Mounted Bifacial Solar Panels, Rooftop Bifacial Solar Panels
3) By Cell Type: Passivated Emitter Rear Cell, Heterojunction, Other Cell Types
4) By End-User: Utility-Scale Solar Projects, Commercial And Industrial (C And I) Sector, Residential Sector
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How Is The Competitive Landscape Of The Global Bifacial Solar Market?
Major companies operating in the bifacial solar market market are Reliance Industries Ltd, LG Electronics, LONGi Green Energy Technology Co. Ltd., Sharp Corporation, Trina Solar Co Ltd, Jinko Solar Holdings, JA Solar Technology Co. Ltd., Hanwha Solutions, Canadian Solar Inc., Risen Energy, First Solar Inc, Sun Power Corporation, GCL System Integration Technology Co Ltd, Wuxi Suntech Power Co. Ltd., Adani Green Energy Ltd, Zhongli Talesun Solar Co. Ltd, SoliTek, Seraphim Solar System Co. Ltd., Jiangsu Sunport Power Corp. Ltd., Yingli Green Energy Holding Co Ltd
Contents Of The Global Bifacial Solar Market
1. Executive Summary
2. Bifacial Solar Market Report Structure
3. Bifacial Solar Market Trends And Strategies
4. Bifacial Solar Market - Macro Economic Scenario
5. Bifacial Solar Market Size And Growth
…..
27. Bifacial Solar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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