Global HIT HJT Solar Cell Market 2025 Outlook Market Size US 102,170 Million by 2031 at 61.3% CAGR Driven by Huasun and Risen

The heterojunction solar cell (HJT/HIT/SHJ) market is accelerating into mainstream adoption with record-breaking cell and module performance, procurement milestones, and new deployment models. According to the latest industry data from QYResearch, the global HJT solar cell market was valued at US$3,739 million in 2024 and is projected to reach US$102,170 million by 2031, reflecting a CAGR of 61.3% during 2025-2031.

In 2024-2025, manufacturers announced historic breakthroughs: Tongwei's 790.8 W HJT module, Risen's 740 W mass-production HJT, Huasun's 26.5% mass-production cell, and Trina's 25.44% HJT module efficiency record validated by Fraunhofer. At the same time, Meyer Burger's insolvency filing highlighted the pressure on Western manufacturers amid sharp price competition.

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Latest Data
• Market size: US$3,739 million (2024), forecast to US$102,170 million (2031)
• CAGR (2025-2031): 61.3%
• Top five players share: 63%
• Regional sales share: North America 52%, Europe 24%, Asia-Pacific 22%
• By type: Silver-based 96%, Copper-based 4%
• By application: Residential 79%, followed by Commercial & Industrial and Utility

Classification List
• Silver-based
• Copper-based

Application List
• Residential
• Commercial and Industrial
• Utility

Leading Companies
Huasun
Risen Energy
Leascend
Golden Solar
Akcome
GS-Solar
Meyer Burger
TW Solar
REC
Jinneng
EcoSolifer
Hevel
Canadian Solar
Enel
Heliene
Panasonic

Five Flagship HJT Products
Huasun - Himalaya G12-132 HJT module
Delivers 700-720 W with efficiency up to 23.2%; module size 2,384 × 1,303 × 33 mm; weight 39.9 kg; open-circuit voltage ~50 V and short-circuit current ~18 A. In early 2025, Huasun reached a new power benchmark of 730 W, targeting 760 W later this year.

Risen Energy - Hyper-ion HJT series
Achieved a 740 W average mass-production module with 26.61% cell efficiency. Power ratings have been certified up to 767 Wp with module efficiency 24.7% and bifaciality around 90%. Silver consumption is reported at below 5 mg/W due to advanced metallization.

REC Group - Alpha Pure-RX
Compact residential HJT panel rated 470 W, panel efficiency 22.6%, dimensions 1728 × 1205 × 30 mm, and power density 21 W/ft2. Provides a 25-year product warranty with 92% guaranteed performance at year 25. A full-black version was introduced for the Australian and New Zealand markets in mid-2025.

TW Solar (Tongwei) - TH-C-G12 HJT module
Reached 790.8 W power output with 25.46% efficiency, certified by TÜV in March 2025. The design features busbar-free interconnection, microcrystalline bifacial stacks, and copper metallization to replace silver paste.

Meyer Burger - White/Black HJT modules (MB_W120 / MB_B120)
European-manufactured, rated 380-400 W, module efficiency 20.7-21.7%, dimensions 1767 × 1041 × 35 mm, weight 19.7 kg. Built with SmartWire Connection Technology for improved mechanical robustness and reliability, backed by 25-year product and performance warranties.

Verified Downstream Users
State Grid Jibei Power Company
China Datang Corporation
IBC SOLAR
OGT Solar
Next2Sun
BelEnergy
Origin Solar
Arab Consulting Office
ACO Nigeria
Generation Green
POwR CONNECT
Hangzhou Hexing Electrical Technology
PVO International BV
Econergy Renewable Energy Ltd.

Market Trend
Power Ratings Beyond 700 W
HJT module classes have surged in two years from 700 W in 2023 to 720 W in 2024 and now 740-790 W in 2025. This reflects the rapid industrialization of ultra-high-power products, with commercial shipments of 700-740 W already underway and record-setting prototypes nearing 800 W.

Cell Efficiency Exceeding 26%
HJT has firmly established itself as a leader in crystalline silicon efficiency. Huasun reported 26.5% mass-production cell performance in 2024, while Trina's 25.44% module efficiency validated by Fraunhofer in 2025 confirmed HJT's strong potential to compete with or surpass TOPCon.

Silver Thrifting and Copper Metallization
The cost challenge of HJT is being addressed by materials innovation. Risen has reduced silver consumption below 5 mg/W, while multiple players pursue copper plating and busbar-free connections. These steps are expected to bring HJT costs closer to those of TOPCon while maintaining higher efficiency and durability.

Thinner Wafers and Temperature Advantage
Producers are adopting 100 μm wafers, with 90 μm under industrial trial and 80 μm under feasibility study. Combined with HJT's temperature coefficient of -0.24%/°C, this results in better energy yield in high-temperature environments and supports lower material costs.

Vertical and Floating PV Applications
HJT modules are increasingly used in non-traditional deployments. Huasun partnered with Next2Sun in Europe for vertical bifacial PV, where field data shows double-digit yield gains. Risen supplied modules for Germany's largest floating PV HJT project, demonstrating adaptability in land-constrained markets.

Bankability and Procurement Growth
Huasun secured BloombergNEF Tier-1 status in 2025 and won State Grid Jibei's large-scale solar project procurement. Risen was selected for Datang's centralized HJT procurement, signaling utility-scale acceptance of HJT technology in competitive bidding.

Regional Contrasts
China is rapidly scaling HJT production, expected to account for 8% of high-efficiency capacity in 2025, while Western manufacturers face consolidation pressures. Meyer Burger's insolvency in mid-2025 reflects challenges in competing with low-cost Chinese supply, even as European demand for premium HJT modules persists.

Preparing for Tandem Architectures
Looking ahead, manufacturers are developing HJT-perovskite tandem cells aiming at 30%+ efficiency and 800 W+ modules. Prototypes are expected around 2026, representing the next leap in solar performance.

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Company Highlights 2024-2025
• Tongwei (TW Solar): Set a record with 790.8 W HJT module at 25.46% efficiency.
• Risen Energy: Reached 740 W average mass-production output with 26.61% cell efficiency.
• Huasun: Achieved 26.5% mass-production cell peaks; launched vertical PV products with Next2Sun; secured major procurement wins in China.
• REC Group: Expanded its Alpha Pure-RX residential HJT panels to new global markets with 22.6% efficiency.
• Trina Solar: Announced 25.44% module efficiency record for HJT modules in early 2025.
• Meyer Burger: Halted U.S. operations and entered insolvency proceedings, while maintaining supply contracts in Europe.

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of the product manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Sales, revenue of the product in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.

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