In-Depth Exploration of the Bifacial Solar Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2031.
Report Ocean has recently released a comprehensive research report on the global Bifacial Solar Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
What is the value of the Global Bifacial Solar Market?
Global Bifacial Solar Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2028.
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What are Bifacial Solar and their primary function?
The Bifacial Solar can be defined as solar modules that can produce solar power from both sides of the panel. Bifacial solar panels operate on maximum efficiency when installed near highly reflective surfaces. Such as swimming pools glass, sandy, stoney and snowy areas. The growing installation of Solar PV modules and increasing focus towards reduction of carbon footprint as well as recent product launches from leading market players are factors that are accelerating the global market demand. For instance, according to International Energy Agency (IEA) estimates – during 2020, the net Solar PV power generation globally was estimated at 821 Terawatt-hour (TWh) and this number is projected to grow to 6970.0 TWh by 2030. Furthermore, leading market players are coming up with innovative products to capitalize the growing demand for Bifacial Solar Panels.
For instance, in May 2022, Japanese electronics manufacturer Sharp launched its new bifacial solar panel NB-JD540. This new product offer 20.9% efficiency rating and 540 W of power output. In addition, in May 2022, New Delhi, India based Gautam Solar introduced new G-2X Mono series of bifacial solar panels for rooftop and ground-mounted PV plants. This new product offers power output of 566W, with front and back power conversion efficiency of up to 25.72%. Also, growing investment in green energy resources across different regions and increasing Bifacial Solar applications across network segments are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, high cost associated with bifacial solar modules and frequent maintenance requirement impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Bifacial Solar Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing preference towards renewable energy sources and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the favorable government initiatives towards installation of solar power plants and rising technological advancements in the region, would create lucrative growth prospects for the global Bifacial Solar Market across the Asia Pacific region.
Major market players included in this report are:
- Jinko Solar Holdings
- Canadian Solar
- Yingli Green Energy
- LG Electronics
- LONGi
- JA Solar Holding Co. Ltd.
- Sharp Corporation
- Sun Power Corporation
- Trina Solar
- Wuxi Suntech Power Co., Ltd.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Cell Type
Heterojunction Cell
Passivated Emitter Rear Cell
By Frame Type
Framed
Frameless
By End Use
Residential
Commercial
Industrial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Bifacial Solar market, including:
- What can be expected for the Bifacial Solar market in the next decade?
- What are the primary drivers of growth in the global Bifacial Solar market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Bifacial Solar market vary based on the size of the end market?
- What is the breakdown of Bifacial Solar by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Bifacial Solar market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Bifacial Solar Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Bifacial Solar Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Bifacial Solar Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Bifacial Solar Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Bifacial Solar Market.
Our Bifacial Solar Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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