Reports

Sale

Bifacial Solar Panels Market

Global Bifacial Solar Panels Market Size, Share, Forecast: By Cell: Heterojunction Cell, Passivated Emitter Rear Cell; By Frame: Framed Bifacial Solar Panel, Frameless Bifacial Solar Panel; By Solar Panel Type: Monocrystalline Solar Panels, Others; By Application; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Bifacial Solar Panels Market Outlook

The global bifacial solar panels market is expected to grow at a CAGR of 19.3% during the period 2024-2032. North America, Europe and Asia are expected to be key markets.

 

bifacial solar panels market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Global Market Likely to be Driven by Benefits and Growing Installations of Bifacial Solar Panels

Bifacial solar modules provide several advantages over traditional solar panels. In a bifacial solar module, power can be generated from both sides, increasing total energy generation. As both sides are UV resistant, these panels are generally more durable. Potential-induced degradation (PID) concerns are decreased when the bifacial module is frameless. Further, balance of system (BOS) costs are also decreased as more power can be produced from bifacial modules in a smaller array footprint. When bifacial modules are mounted on a highly reflective surface (such as a white TPO roof or on the ground with light-coloured stones), some bifacial module manufacturers claim up to a thirty percent increase in production just from additional power produced from the rear.

Bifacial modules are available in several designs; these may be framed as well as frameless. Some are dual-glass, while others employ clear backsheets. Most modules use monocrystalline cells, but polycrystalline designs are also available. Power generated from both sides remains constant. There are modules that are frameless and expose the backside of cells, but are not bifacial. Indeed, bifacial modules have contacts/busbars on the front and back sides of their cells.

How a bifacial module is installed depends on its type. A framed bifacial module may be relatively easy to install because traditional mounting and racking systems are already adapted to framed models. Most bifacial module producers offer their own clamps to mount their specific brand, eliminating installation hesitations.

To produce more power through its bifacial properties, the bifacial module is tilted higher. Bifacial modules mounted flat to a rooftop block any reflected light from reaching the rear side of the cells. Thus, bifacial modules deliver superior performance on flat commercial rooftops and ground-mounted arrays (as there is remaining room for tilt and bouncing reflected light to the back of the modules).

 

Competitive Prices Expected to Stimulate Market Growth

Bifacial solar panels are expected to witness increased demand during the forecast period and boost global bifacial solar panels market growth. A key reason for increase in market demand is prices becoming increasingly competitive with those of monofacial solar panels.

Bifacial technology supports the concept of using quality materials for high-energy yields. Bifacial modules carry all advantages of mono PERC modules - high power density leading to significant BOS savings, high energy yield with better low light performance and lower temperature coefficient. Further, bifacial PERC modules also harvest energy from the backside side, exhibiting higher energy yield.

 

Residential Applications of Bifacial Solar Panels Likely to Drive Market Growth

Bifacial solar panel installations have been generally considered for large-scale commercial applications; electric utility companies also used bifacial panels for the greater efficiency these modules offered. However, residential applications of bifacial solar technology are also possible; considerations include goals for energy independence, budget, environment, space, etc. The global bifacial solar panels market is expected to be driven by residential applications.  Bifacial panels offer shade or rain/snow protection while enabling reduction in the electricity bill. Bifacial panels may be integrated into the house’s appearance to enhance aesthetic and functional appeal.

 

Advantages of Bifacial Solar Panels Expected to Boost Market Growth

The global bifacial solar panels market is expected to be driven by advantages afforded by bifacial solar panels. Advantages include:

Enhanced Efficiency - Bifacial modules can generate power from both sides of the panel, leading to an overall increase in energy production.

Better Durability - Bifacial panels are frameless and covered on both sides by tempered glass (which is weather-resistant, UV resistant and can withstand high temperatures and strong winds) making the panels more durable.

Aesthetically Pleasing - Bifacial modules are available in several designs, including frameless. The complete glass frame is considered more aesthetically pleasing as compared to monofacial solar panels.

Functions Well in Diffuse Light - The extra surface area enables better performance of bifacial panels in diffuse light, reducing long-term costs as compared to monofacial panels.

Decreased PID - In frameless bifacial panels, solar cells are less likely to display potential-induced degradation (PID).

Longer Warranties - Bifacial solar panels are often available with a longer warranty of up to 30 years.

 

Market Segmentation

 

bifacial solar panels market by segments

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

By cell, the market is segmented into:

  • Heterojunction Cell
  • Passivated Emitter Rear Cell

By frame, the market is divided into:

  • Framed Bifacial Solar Panel
  • Frameless Bifacial Solar Panel

By solar panel type, the market is classified into:

  • Monocrystalline Solar Panels
  • Polycrystalline Solar Panels
  • Thin-film Solar Panels

By application, the market is segmented into:

  • Residential
  • Commercial

By region, the market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

bifacial solar panels market by region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the global bifacial solar panels market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Ankara Solar AS
  • LONGi Green Energy Technology Co., Ltd.
  • Adani Group
  • LG Electronics Inc. 
  • Canadian Solar Inc.
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Cell
  • Frame
  • Solar Panel Type
  • Application
  • Region
Breakup by Cell
  • Heterojunction Cell
  • Passivated Emitter Rear Cell
Breakup by Frame
  • Framed Bifacial Solar Panel
  • Frameless Bifacial Solar Panel
Breakup by Solar Panel Type
  • Monocrystalline Solar Panels
  • Polycrystalline Solar Panels
  • Thin-film Solar Panels
Breakup by Application
  • Residential
  • Commercial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ankara Solar AS
  • LONGi Green Energy Technology Co., Ltd.
  • Adani Group
  • LG Electronics Inc. 
  • Canadian Solar Inc.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Region
7    Opportunities and Challenges in the Market
8    Global Bifacial Solar Panels Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Bifacial Solar Panels Historical Market (2018-2023) 
    8.3    Global Bifacial Solar Panels Market Forecast (2024-2032)
    8.4    Global Bifacial Solar Panels Market by Cell
        8.4.1    Heterojunction Cell
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Passivated Emitter Rear Cell
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Bifacial Solar Panels Market by Frame 
        8.5.1    Framed Bifacial Solar Panel
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Frameless Bifacial Solar Panel
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Bifacial Solar Panels Market by Solar Panel Type
        8.6.1    Monocrystalline Solar Panels
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Polycrystalline Solar Panels
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Thin-film Solar Panels
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global Bifacial Solar Panels Market by Application
        8.7.1    Residential
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Commercial
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
    8.8    Global Bifacial Solar Panels Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Bifacial Solar Panels Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Bifacial Solar Panels Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Bifacial Solar Panels Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Bifacial Solar Panels Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Bifacial Solar Panels Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Ankara Solar AS
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    LONGi Green Energy Technology Co., Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Adani Group
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    LG Electronics Inc. 
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Canadian Solar Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Bifacial Solar Panels Market: Key Industry Highlights, 2018 and 2032
2.    Global Bifacial Solar Panels Historical Market: Breakup by Cell (USD Million), 2018-2023
3.    Global Bifacial Solar Panels Market Forecast: Breakup by Cell (USD Million), 2024-2032
4.    Global Bifacial Solar Panels Historical Market: Breakup by Frame (USD Million), 2018-2023
5.    Global Bifacial Solar Panels Market Forecast: Breakup by Frame (USD Million), 2024-2032
6.    Global Bifacial Solar Panels Historical Market: Breakup by Solar Panel Type (USD Million), 2018-2023
7.    Global Bifacial Solar Panels Market Forecast: Breakup by Solar Panel Type (USD Million), 2024-2032
8.    Global Bifacial Solar Panels Historical Market: Breakup by Application (USD Million), 2018-2023
9.    Global Bifacial Solar Panels Market Forecast: Breakup by Application (USD Million), 2024-2032
10.    Global Bifacial Solar Panels Historical Market: Breakup by Region (USD Million), 2018-2023
11.    Global Bifacial Solar Panels Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Bifacial Solar Panels Historical Market: Breakup by Country (USD Million), 2018-2023
13.    North America Bifacial Solar Panels Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Europe Bifacial Solar Panels Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Europe Bifacial Solar Panels Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Asia Pacific Bifacial Solar Panels Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Asia Pacific Bifacial Solar Panels Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Latin America Bifacial Solar Panels Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Latin America Bifacial Solar Panels Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Middle East and Africa Bifacial Solar Panels Historical Market: Breakup by Country (USD Million), 2018-2023
21.    Middle East and Africa Bifacial Solar Panels Market Forecast: Breakup by Country (USD Million), 2024-2032
22.    Global Bifacial Solar Panels Market Structure

Key Questions Answered in the Report

The global bifacial solar panels market is projected to grow at a CAGR of 19.3% between 2024 and 2032.

The major drivers of the market include the reduction in the electricity bill, increase in energy production, and longer warranty.

Increased demand for electricity from commercial and industrial sectors and growing investment in the field of solar energy are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various cells in the market are heterojunction cell and passivated emitter rear cell.

The several frames in the market are framed bifacial solar panel and frameless bifacial solar panel.

Based on solar panel type, the market is classified into monocrystalline solar panels, polycrystalline solar panels, and thin-film solar panels.

The major applications of the market are residential and commercial.

The major players in the industry are Ankara Solar AS, LONGi Green Energy Technology Co., Ltd., Adani Group, LG Electronics Inc., and Canadian Solar Inc., among others.

Analyst Review

The global bifacial solar panels market has been driven by the increased demand for electricity from commercial and industrial sectors in the historical period. Aided by the reduction in the electricity bill and growing investment in the field of solar energy, the market is expected to grow at a CAGR of 19.3% in the forecast period of 2024-2032.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various cells in the market are heterojunction cell and passivated emitter rear cell. The several frames in the market are framed bifacial solar panel and frameless bifacial solar panel. Based on solar panel type, the market is classified into monocrystalline solar panels, polycrystalline solar panels, and thin-film solar panels. The major applications of the market are residential and commercial. The major regional markets for bifacial solar panels are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Ankara Solar AS, LONGi Green Energy Technology Co., Ltd., Adani Group, LG Electronics Inc., and Canadian Solar Inc., among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

Purchase Full Report

Mini Report

$ 2199     $1999
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3299     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
most popular

Five User License

$ 4399     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5499     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER