Global Bifacial Solar Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Type;
Framed and Frameless.By Cell ;
Heterojunction cell and Passivated emitter rear cell.By End-Use;
Commercial , Residential and Industrial.By Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Bifacial Solar Market (USD Million), 2021 - 2031
In the year 2024, the Global Bifacial Solar Market was valued at USD 12,082.97 million. The size of this market is expected to increase to USD 29,318.70 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 13.5%.
The global bifacial solar market is experiencing a surge in demand and innovation, driven by a growing emphasis on renewable energy sources and advancements in solar technology. Bifacial solar panels, capable of capturing sunlight from both sides, offer higher energy yields and greater efficiency compared to traditional solar panels. This has led to their widespread adoption across various applications, including utility-scale solar farms, commercial rooftops, and residential installations. The declining costs of bifacial solar technology, coupled with favorable government policies and incentives promoting renewable energy, have further fueled market growth. With increasing concerns about climate change and the need to transition towards sustainable energy sources, the bifacial solar market is poised for significant expansion globally.
The versatility and adaptability of bifacial solar panels make them suitable for diverse environmental conditions and geographical locations, enhancing their appeal to consumers and investors alike. In regions with high solar irradiance and limited land availability, such as the Middle East and parts of Asia, bifacial solar technology offers a compelling solution to maximize energy production within limited space constraints. Ongoing research and development efforts are focused on enhancing the performance and durability of bifacial solar panels, driving innovation and opening up new opportunities for market growth.
Global Bifacial Solar Market Recent Developments
-
In June 2023, the bifacial solar panel market saw a major surge with several global energy companies launching new projects aimed at increasing energy production from both sides of the panels. This was in line with growing sustainability initiatives worldwide.
-
In January 2022, a breakthrough in bifacial solar panel efficiency was achieved by a Chinese company, which introduced a model with 25% higher energy output, making it the most efficient bifacial panel on the market at the time
Segment Analysis
The Global Bifacial Solar Market, dissectied by type, application, and geography. By type, it encompasses the segments of Bio-ethanol, Bio-butanol, Bio-methanol, and Bio-BDO, each playing a distinct role in the renewable energy ecosystem. Bio-ethanol, derived from biomass sources, serves as a prominent biofuel alternative for transportation and industrial applications. Bio-butanol offers versatility in fuel blending and serves as a sustainable option for various industries. Bio-methanol, with its cleaner combustion properties, finds applications in transportation and chemical manufacturing, contributing to carbon reduction efforts. Bio-BDO, a key building block in polymer production, holds promise in renewable plastics and textiles manufacturing, bolstering sustainability initiatives across sectors.
In terms of application, the report explores the utilization of bifacial solar technology in transportation, infrastructure, medical, and other diverse sectors. Bifacial solar panels, capable of harnessing sunlight from both sides, offer enhanced energy generation efficiency, making them suitable for various applications beyond traditional solar installations. They find use in transportation electrification, powering electric vehicles and charging stations, contributing to sustainable mobility solutions. In infrastructure development, bifacial solar technology integrates seamlessly into building design, providing renewable energy solutions for residential, commercial, and industrial projects. The medical sector benefits from clean energy sources for powering facilities and equipment, ensuring uninterrupted operations. Bifacial solar applications extend to various other sectors, demonstrating the versatility and potential of this innovative solar technology across global markets in North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Bifacial Solar Segment Analysis
In this report, the Global Bifacial Solar Market has been segmented by Type, Cell , End-Use and Geography.
Global Bifacial Solar Market, By Type
The Global Bifacial Solar Market has been segmented by Type into Framed and Frameless .
The Framed bifacial solar panels feature a traditional design with a frame surrounding the photovoltaic cells, providing structural support and protection. These panels are widely adopted in various applications due to their durability and ease of installation, making them a popular choice for both residential and commercial solar projects. The presence of a frame allows for standardized mounting options, ensuring compatibility with existing solar infrastructure and reducing installation complexities.
The Frameless bifacial solar panels offer a sleek and modern design without a surrounding frame, maximizing the exposure of both sides of the photovoltaic cells to sunlight. This design innovation enhances the overall efficiency of the panels, as they can capture sunlight from both the front and rear surfaces, thereby increasing energy generation. Frameless panels are favored in applications where aesthetics and maximum energy output are prioritized, such as architectural integration and large-scale solar farms. The absence of a frame reduces the weight of the panels, facilitating easier transportation and installation, while also minimizing potential shading effects, thus contributing to higher energy yields.
Global Bifacial Solar Market, By Cell
The Global Bifacial Solar Market has been segmented by Cell into Heterojunction cell and Passivated emitter rear cell .
Heterojunction cells, characterized by their high efficiency and low temperature coefficient, have gained traction in the bifacial solar market due to their superior performance in varying environmental conditions. These cells utilize multiple layers of different semiconductor materials, enhancing light absorption and conversion efficiency. Passivated Emitter Rear Cells (PERC) are widely adopted for their cost-effectiveness and simplicity in manufacturing. With a rear surface passivation layer, PERC cells minimize electron recombination, thereby improving cell efficiency and overall energy output.
Companies specializing in Heterojunction cell technology may focus on premium market segments where higher efficiency and performance are paramount, catering to niche applications such as residential and commercial rooftop installations. Manufacturers of Passivated Emitter Rear Cells (PERC) may target broader market segments, leveraging cost advantages to penetrate utility-scale solar projects and large-scale ground-mounted installations. By aligning product offerings and strategies with the specific requirements and preferences of customers, companies can effectively navigate the evolving landscape of the bifacial solar market and capitalize on emerging opportunities in both Heterojunction and PERC cell segments.
Global Bifacial Solar Market, By End-Use
The Global Bifacial Solar Market has been segmented by End-Use into Commercial , Residential and Industrial.
In the Commercial sector, which encompasses a broad spectrum of applications including office buildings, retail spaces, and educational institutions, there is a growing emphasis on sustainability and energy efficiency. Bifacial solar panels offer an attractive solution for commercial entities seeking to reduce their carbon footprint and lower energy costs over the long term. The versatility and aesthetic appeal of bifacial panels make them suitable for integrated architectural designs, enhancing their appeal in commercial settings where visual aesthetics are important.
In the Residential segment, the adoption of bifacial solar technology is driven by increasing awareness among homeowners about the benefits of renewable energy and the desire to reduce reliance on traditional grid electricity. Bifacial solar panels provide homeowners with an opportunity to generate clean energy while optimizing space utilization on rooftops or ground-mounted installations. The residential market is also influenced by government incentives and subsidies aimed at promoting renewable energy adoption, further bolstering the demand for bifacial solar solutions. In the Industrial sector, which includes large-scale manufacturing facilities, warehouses, and agricultural operations, bifacial solar panels offer a cost-effective and sustainable energy solution to meet the high power demands of industrial operations. The scalability and efficiency of bifacial solar technology make it an attractive option for industrial applications where maximizing energy output and minimizing operating costs are paramount concerns.
Global Bifacial Solar Market, By Geography
In this report, the Global Bifacial Solar Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Global Bifacial Solar Market Share (%), by Geographical Region, 2024
North America, primarily comprising the United States and Canada, stands as a significant market for bifacial solar technology, driven by favorable regulatory frameworks, incentives for renewable energy adoption, and increasing investment in clean energy infrastructure. The region's focus on reducing carbon emissions and transitioning towards sustainable energy sources further propels the demand for bifacial solar panels across residential, commercial, and utility-scale applications. Europe showcases notable growth potential in the bifacial solar market, spurred by stringent climate targets, supportive government policies, and advancements in solar technology.
Countries within the European Union prioritize renewable energy deployment as part of their broader sustainability agendas, driving substantial investments in solar projects and fostering innovation in bifacial solar panel manufacturing and installation practices. In the Asia Pacific region, rapid industrialization, population growth, and the need for energy security drive the adoption of bifacial solar technology, particularly in countries like China, India, and Australia. The Middle East and Africa witness growing interest in bifacial solar solutions, driven by abundant sunlight, declining solar panel costs, and efforts to diversify energy sources. Latin America, amidst economic development and increasing electricity demand, presents opportunities for market growth as governments and utilities explore the potential of bifacial solar technology to meet their renewable energy targets.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Bifacial Solar Market. These factors include; Market Drivers, Restraints and Opportunities Analysis
Drivers, Restraints and Opportunity Analysis
Drivers
- Expansion of utility-scale solar installations
- Favorable regulatory policies promoting solar energy adoption
- Enhanced durability and reliability of bifacial solar panels
-
Adoption of bifacial technology in diverse climates - Bifacial solar panels are designed to capture sunlight from both the front and rear sides, increasing their efficiency compared to traditional monofacial panels. This versatility makes bifacial panels particularly attractive in regions with varying weather patterns and solar radiation levels.
In sunny climates, such as deserts, bifacial panels can capitalize on the high levels of sunlight by capturing reflected light from the ground, while in regions with diffuse light or high albedo, such as snowy environments, they can still generate considerable energy. The global bifacial solar market has witnessed rapid growth in recent years, fueled by advancements in technology, declining costs, and supportive government policies promoting renewable energy.
Restraints
- Potential degradation of bifacial solar panel performance over time
- Lack of standardization in testing and certification
-
Supply chain disruptions impacting panel availability - Supply chain disruptions stem from various factors, including logistical bottlenecks, raw material shortages, and transportation delays. As a result, manufacturers are encountering difficulties in sourcing the necessary components for bifacial solar panels, leading to production slowdowns and potential project delays. The scarcity of panels is also driving up prices, impacting project economics and hindering the growth of the bifacial solar sector.
Despite these challenges, the bifacial solar market continues to show promising growth prospects. The technology's ability to capture sunlight from both sides of the panel, increasing energy generation efficiency, remains a significant driver of its adoption. Advancements in manufacturing processes and the introduction of innovative materials are expected to alleviate some of the supply chain constraints over time.
Opportunities
- Integration with energy storage systems
- Expansion of distributed solar generation
- Collaboration with construction and architectural industries
-
Participation in renewable energy auctions and tenders - Bifacial solar panels, which can capture sunlight from both sides, offer increased efficiency and yield compared to traditional monofacial panels. The participation in these auctions and tenders not only reflects the increasing competitiveness of bifacial solar technology but also underscores the pivotal role it plays in achieving renewable energy targets and advancing sustainable development agendas on a global scale.
With advancements in manufacturing processes and improvements in performance metrics, bifacial solar panels have become increasingly cost-effective and accessible, making them a preferred choice for utility-scale solar projects. The versatility of bifacial panels, which can be deployed in various environments and applications, including ground-mounted installations and building-integrated photovoltaics (BIPV), enhances their attractiveness to diverse stakeholders across the energy value chain.
Competitive Landscape Analysis
Key players in Global Bifacial Solar Market include,
- BSolar
- LG Electronics
- MegaCell
- Neo Solar Power
- Panasonic
- Prism Solar
- PVG Solutions
- Solar World
- Yingli Green Energy
- Longi
- Lumos Solar
- Silfab
- Sunpreme
- Trina Solar
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Cell
- Market Snapshot, By End-Use
- Market Snapshot, By Region
- Global Bifacial Solar Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Expansion of utility-scale solar installations
- Favorable regulatory policies promoting solar energy adoption
- Enhanced durability and reliability of bifacial solar panels
- Adoption of bifacial technology in diverse climates
- Restraints
- Potential degradation of bifacial solar panel performance over time
- Lack of standardization in testing and certification
- Supply chain disruptions impacting panel availability
- Opportunities
- Integration with energy storage systems
- Expansion of distributed solar generation
- Collaboration with construction and architectural industries
- Participation in renewable energy auctions and tenders
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Bifacial Solar Market, By Type, 2021 - 2031 (USD Million)
- Framed
- Frameless
- Global Bifacial Solar Market, By Cell, 2021 - 2031 (USD Million)
- Heterojunction cell
- Passivated emitter rear cell
- Global Bifacial Solar Market, By End-Use, 2021 - 2031 (USD Million)
- Commercial
- Residential
- Industrial
- Global Bifacial Solar Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Bifacial Solar Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape Analysis
- Company Profiles
- BSolar
- LG Electronics
- MegaCell
- Neo Solar Power
- Panasonic
- Prism Solar
- PVG Solutions
- Solar World
- Yingli Green Energy
- Longi
- Lumos Solar
- Silfab
- Sunpreme
- Trina Solar
- Company Profiles
- Analyst Views
- Future Outlook of the Market