Energy & Power
Global Bifacial Solar Panels Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Bifacial Solar Panels Market, By Solar Panel Type (Monocrystalline Bifacial Solar Panels, Polycrystalline Bifacial Solar Panels, Thin-Film Bifacial Solar Panels), Cell (Heterojunction Cell, Passivated Emitter Rear Cell), Frame (Framed Bifacial Solar Panel, Frameless Bifacial Solar Panel), Installation (Ground-mounted bifacial Solar Panels, Rooftop Bifacial Solar Panels), Application (Residential, Commercial, Others), End-User (Utility-Scale Solar Projects, Commercial and Industrial (C&I) Sector, Residential Sector), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global bifacial solar panels market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Bifacial solar panels are photovoltaic panels that absorb sunlight from both sides, producing power from direct sunlight in the front and reflected light in the back. They are more efficient in a variety of settings because they make use of bifaciality, which can boost energy yield over conventional monofacial panels by up to 20%. The Bifacial Solar Panels market includes the global manufacture, marketing, and installation of these sophisticated solar panels. They are more efficient in low light and have a wider range of applications, including rooftop installations and ground-mounted arrays. These are the main reasons propelling the market's expansion. The demand for sustainable energy solutions is being driven by market characteristics such as increased environmental concerns, cost reductions, and technology improvements. Major market participants rely on innovation and strategic alliances to grow their market position and capitalize on the global uptake of renewable energy technology.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Rising demand for renewable energy sources.
- Government incentives and policies favoring solar power.
RESTRAINTS
- High initial costs compared to traditional panels.
- Variability in energy output due to weather conditions.
OPPORTUNITIES
- Expansion in emerging markets with favorable solar conditions.
- Integration with energy storage solutions for enhanced reliability.
CHALLENGES
- Limited awareness and understanding among consumers.
- Regulatory uncertainties affecting market growth.
SEGMENTATION
- Solar Panel Type
- Monocrystalline Bifacial Solar Panels
- Polycrystalline Bifacial Solar Panels
- Thin-Film Bifacial Solar Panels
- Cell
- Heterojunction Cell
- Passivated Emitter Rear Cell
- Frame
- Framed Bifacial Solar Panel
- Frameless Bifacial Solar Panel
- Installation
- Ground-mounted bifacial Solar Panels
- Rooftop Bifacial Solar Panels
- Application
- Residential
- Commercial
- Others
- End-User
- Utility-Scale Solar Projects
- Commercial and Industrial (C&I) Sector
- Residential Sector
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- LONGi Solar
- Sunpreme
- Prism Solar
- Ankara Solar
- SP Enerji
- Adani Solar
- AE Solar
- LG Electronics
- SoliTek
- JA Solar
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Bifacial Solar Panels Market, by Solar Panel Type
- 3.2 Global Bifacial Solar Panels Market, by Cell
- 3.3 Global Bifacial Solar Panels Market, by Frame
- 3.4 Global Bifacial Solar Panels Market, by Installation
- 3.5 Global Bifacial Solar Panels Market, by Application
- 3.6 Global Bifacial Solar Panels Market, by End-User
- 3.7 Global Bifacial Solar Panels Market, by Geography
- 3.8 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Technological advancements improving panel efficiency.
- 5.1.2 Growing preference for higher efficiency photovoltaic solutions.
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Rising demand for renewable energy sources.
- 5.2.2 Government incentives and policies favoring solar power.
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High initial costs compared to traditional panels.
- 5.3.2 Variability in energy output due to weather conditions.
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Expansion in emerging markets with favorable solar conditions.
- 5.4.2 Integration with energy storage solutions for enhanced reliability.
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Limited awareness and understanding among consumers.
- 5.5.2 Regulatory uncertainties affecting market growth.
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL BIFACIAL SOLAR PANELS MARKET, BY SOLAR PANEL TYPE
- 6.1 Solar Panel Type Summary
- 6.2 Market Attractive Index
- 6.3 Global Bifacial Solar Panels Market, by Solar Panel Type (2019-2032)
- SECTION 7 - GLOBAL BIFACIAL SOLAR PANELS MARKET, BY CELL
- 7.1 Cell Summary
- 7.2 Market Attractive Index
- 7.3 Global Bifacial Solar Panels Market, by Cell (2019-2032)
- SECTION 8 - GLOBAL BIFACIAL SOLAR PANELS MARKET, BY FRAME
- 8.1 Frame Summary
- 8.2 Market Attractive Index
- 8.3 Global Bifacial Solar Panels Market, by Frame (2019-2032)
- SECTION 9 - GLOBAL BIFACIAL SOLAR PANELS MARKET, BY INSTALLATION
- 9.1 Installation Summary
- 9.2 Market Attractive Index
- 9.3 Global Bifacial Solar Panels Market, by Installation (2019-2032)
- SECTION 10 - GLOBAL BIFACIAL SOLAR PANELS MARKET, BY APPLICATION
- 10.1 Application Summary
- 10.2 Market Attractive Index
- 10.3 Global Bifacial Solar Panels Market, by Application (2019-2032)
- SECTION 11 - GLOBAL BIFACIAL SOLAR PANELS MARKET, BY END-USER
- 11.1 End-User Summary
- 11.2 Market Attractive Index
- 11.3 Global Bifacial Solar Panels Market, by End-User (2019-2032)
- SECTION 12 - GLOBAL BIFACIAL SOLAR PANELS MARKET, BY GEOGRAPHY
- 12.1 Regional Summary
- 12.2 Market Attractive Index
- 12.3 Global Bifacial Solar Panels Market, by Geography (2019-2032)
- SECTION 13 - NORTH AMERICA BIFACIAL SOLAR PANELS MARKET
- 13.1 North America Summary
- 13.2 Market Attractive Index
- 13.3 North America Bifacial Solar Panels Market, by Solar Panel Type (2019-2032)
- 13.4 North America Bifacial Solar Panels Market, by Cell (2019-2032)
- 13.5 North America Bifacial Solar Panels Market, by Frame (2019-2032)
- 13.6 North America Bifacial Solar Panels Market, by Installation (2019-2032)
- 13.7 North America Bifacial Solar Panels Market, by Application (2019-2032)
- 13.8 North America Bifacial Solar Panels Market, by End-User (2019-2032)
- 13.9 North America Bifacial Solar Panels Market, by Country (2019-2032)
- 13.9.1 U.S.
- 13.9.2 Canada
- 13.9.3 Mexico
- 13.9.4 Rest of North America
- SECTION 14 - EUROPE BIFACIAL SOLAR PANELS MARKET
- 14.1 Europe Summary
- 14.2 Market Attractive Index
- 14.3 Europe Bifacial Solar Panels Market, by Solar Panel Type (2019-2032)
- 14.4 Europe Bifacial Solar Panels Market, by Cell (2019-2032)
- 14.5 Europe Bifacial Solar Panels Market, by Frame (2019-2032)
- 14.6 Europe Bifacial Solar Panels Market, by Installation (2019-2032)
- 14.7 Europe Bifacial Solar Panels Market, by Application (2019-2032)
- 14.8 Europe Bifacial Solar Panels Market, by End-User (2019-2032)
- 14.9 Europe Bifacial Solar Panels Market, by Country (2019-2032)
- 14.9.1 Germany
- 14.9.2 U.K.
- 14.9.3 France
- 14.9.4 Italy
- 14.9.5 Spain
- 14.9.6 Russia
- 14.9.7 The Netherlands
- 14.9.8 Belgium
- 14.9.9 Turkey
- 14.9.10 Rest of Europe
- SECTION 15 - ASIA-PACIFIC BIFACIAL SOLAR PANELS MARKET
- 15.1 Asia-Pacific Summary
- 15.2 Market Attractive Index
- 15.3 Asia-Pacific Bifacial Solar Panels Market, by Solar Panel Type (2019-2032)
- 15.4 Asia-Pacific Bifacial Solar Panels Market, by Cell (2019-2032)
- 15.5 Asia-Pacific Bifacial Solar Panels Market, by Frame (2019-2032)
- 15.6 Asia-Pacific Bifacial Solar Panels Market, by Installation (2019-2032)
- 15.7 Asia-Pacific Bifacial Solar Panels Market, by Application (2019-2032)
- 15.8 Asia-Pacific Bifacial Solar Panels Market, by End-User (2019-2032)
- 15.9 Asia-Pacific Bifacial Solar Panels Market, by Country (2019-2032)
- 15.9.1 China
- 15.9.2 India
- 15.9.3 Japan
- 15.9.4 South Korea
- 15.9.5 Singapore
- 15.9.6 Malaysia
- 15.9.7 Australia
- 15.9.8 Thailand
- 15.9.9 Philippines
- 15.9.10 Rest of Asia-Pacific
- SECTION 16 - SOUTH AMERICA BIFACIAL SOLAR PANELS MARKET
- 16.1 South America Summary
- 16.2 Market Attractive Index
- 16.3 South America Bifacial Solar Panels Market, by Solar Panel Type (2019-2032)
- 16.4 South America Bifacial Solar Panels Market, by Cell (2019-2032)
- 16.5 South America Bifacial Solar Panels Market, by Frame (2019-2032)
- 16.6 South America Bifacial Solar Panels Market, by Installation (2019-2032)
- 16.7 South America Bifacial Solar Panels Market, by Application (2019-2032)
- 16.8 South America Bifacial Solar Panels Market, by End-User (2019-2032)
- 16.9 South America Bifacial Solar Panels Market, by Country (2019-2032)
- 16.9.1 Brazil
- 16.9.2 Argentina
- 16.9.3 Chile
- 16.9.4 Colombia
- 16.9.5 Rest of South America
- SECTION 17 - MIDDLE EAST AND AFRICA BIFACIAL SOLAR PANELS MARKET
- 17.1 Middle East and Africa Summary
- 17.2 Market Attractive Index
- 17.3 Middle East and Africa Bifacial Solar Panels Market, by Solar Panel Type (2019-2032)
- 17.4 Middle East and Africa Bifacial Solar Panels Market, by Cell (2019-2032)
- 17.5 Middle East and Africa Bifacial Solar Panels Market, by Frame (2019-2032)
- 17.6 Middle East and Africa Bifacial Solar Panels Market, by Installation (2019-2032)
- 17.7 Middle East and Africa Bifacial Solar Panels Market, by Application (2019-2032)
- 17.8 Middle East and Africa Bifacial Solar Panels Market, by End-User (2019-2032)
- 17.9 Middle East and Africa Bifacial Solar Panels Market, by Country (2019-2032)
- 17.9.1 Kingdom of Saudi Arabia
- 17.9.2 South Africa
- 17.9.3 U.A.E.
- 17.9.4 Egypt
- 17.9.5 Rest of Middle East and Africa
- SECTION 18 - COMPANY SHARE ANALYSIS
- 18.1 Global Bifacial Solar Panels Market, Company Share Analysis
- 18.2 North America Bifacial Solar Panels Market, Company Share Analysis
- 18.3 Europe Bifacial Solar Panels Market, Company Share Analysis
- 18.4 Asia-Pacific Bifacial Solar Panels Market, Company Share Analysis
- SECTION 19 - COMPANY PROFILES
- 19.1 LONGi Solar
- 19.1.1 Company Snapshot
- 19.1.2 Financial Overview
- 19.1.3 Product Portfolio
- 19.1.4 Recent Developments
- 19.2 Sunpreme
- 19.2.1 Company Snapshot
- 19.2.2 Financial Overview
- 19.2.3 Product Portfolio
- 19.2.4 Recent Developments
- 19.3 Prism Solar
- 19.3.1 Company Snapshot
- 19.3.2 Financial Overview
- 19.3.3 Product Portfolio
- 19.3.4 Recent Developments
- 19.4 Ankara Solar
- 19.4.1 Company Snapshot
- 19.4.2 Financial Overview
- 19.4.3 Product Portfolio
- 19.4.4 Recent Developments
- 19.5 SP Enerji
- 19.5.1 Company Snapshot
- 19.5.2 Financial Overview
- 19.5.3 Product Portfolio
- 19.5.4 Recent Developments
- 19.6 Adani Solar
- 19.6.1 Company Snapshot
- 19.6.2 Financial Overview
- 19.6.3 Product Portfolio
- 19.6.4 Recent Developments
- 19.7 AE Solar
- 19.7.1 Company Snapshot
- 19.7.2 Financial Overview
- 19.7.3 Product Portfolio
- 19.7.4 Recent Developments
- 19.8 LG Electronics
- 19.8.1 Company Snapshot
- 19.8.2 Financial Overview
- 19.8.3 Product Portfolio
- 19.8.4 Recent Developments
- 19.9 SoliTek
- 19.9.1 Company Snapshot
- 19.9.2 Financial Overview
- 19.9.3 Product Portfolio
- 19.9.4 Recent Developments
- 19.10 JA Solar
- 19.10.1 Company Snapshot
- 19.10.2 Financial Overview
- 19.10.3 Product Portfolio
- 19.10.4 Recent Developments
- SECTION 20 - RELATED REPORTS
- SECTION 21 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.