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Global Bifacial Solar Market to reach USD XX million by 2028.

Global Bifacial Solar Market Size study, By Cell Type (Heterojunction Cell, Passivated Emitter Rear Cell), By Frame Type (Framed, Frameless), By End Use (Residential, Commercial, Industrial), and Regional Forecasts 2022-2028

Product Code: EPPGS-57543801
Publish Date: 14-08-2022
Page: 200

Global Bifacial Solar Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. 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
JA Solar Holding Co. Ltd.
Sharp Corporation
Sun Power Corporation
Trina Solar
Wuxi Suntech Power Co., Ltd.

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
By End Use
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Bifacial Solar Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
1.2.1. Global Bifacial Solar Market, by Region, 2020-2028 (USD Million)
1.2.2. Global Bifacial Solar Market, by Cell Type, 2020-2028 (USD Million)
1.2.3. Global Bifacial Solar Market, by Frame Type, 2020-2028 (USD Million)
1.2.4. Global Bifacial Solar Market, by End Use, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Bifacial Solar Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Bifacial Solar Market Dynamics
3.1. Bifacial Solar Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Growing installation of Solar PV modules. Increasing focus towards reduction of carbon footprint. Recent product launches from leading market players.
3.1.2. Market Challenges High cost associated with bifacial solar modules.
3.1.3. Market Opportunities Growing investment in green energy resources across different regions. Increasing Bifacial Solar applications across network segments
Chapter 4. Global Bifacial Solar Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Bifacial Solar Market, by Cell Type
6.1. Market Snapshot
6.2. Global Bifacial Solar Market by Cell Type, Performance – Potential Analysis
6.3. Global Bifacial Solar Market Estimates & Forecasts by Cell Type 2018-2028 (USD Million)
6.4. Bifacial Solar Market, Sub Segment Analysis
6.4.1. Heterojunction Cell
6.4.2. Passivated Emitter Rear Cell
Chapter 7. Global Bifacial Solar Market, by Frame Type
7.1. Market Snapshot
7.2. Global Bifacial Solar Market by Frame Type, Performance – Potential Analysis
7.3. Global Bifacial Solar Market Estimates & Forecasts by Frame Type 2018-2028 (USD Million)
7.4. Bifacial Solar Market, Sub Segment Analysis
7.4.1. Framed
7.4.2. Frameless
Chapter 8. Global Bifacial Solar Market, by End Use
8.1. Market Snapshot
8.2. Global Bifacial Solar Market by End Use, Performance – Potential Analysis
8.3. Global Bifacial Solar Market Estimates & Forecasts by End Use 2018-2028 (USD Million)
8.4. Bifacial Solar Market, Sub Segment Analysis
8.4.1. Residential
8.4.2. Commercial
8.4.3. Industrial
Chapter 9. Global Bifacial Solar Market, Regional Analysis
9.1. Bifacial Solar Market, Regional Market Snapshot
9.2. North America Bifacial Solar Market
9.2.1. U.S. Bifacial Solar Market Cell Type estimates & forecasts, 2018-2028 Frame Type estimates & forecasts, 2018-2028 End Use estimates & forecasts, 2018-2028
9.2.2. Canada Bifacial Solar Market
9.3. Europe Bifacial Solar Market Snapshot
9.3.1. U.K. Bifacial Solar Market
9.3.2. Germany Bifacial Solar Market
9.3.3. France Bifacial Solar Market
9.3.4. Spain Bifacial Solar Market
9.3.5. Italy Bifacial Solar Market
9.3.6. Rest of Europe Bifacial Solar Market
9.4. Asia-Pacific Bifacial Solar Market Snapshot
9.4.1. China Bifacial Solar Market
9.4.2. India Bifacial Solar Market
9.4.3. Japan Bifacial Solar Market
9.4.4. Australia Bifacial Solar Market
9.4.5. South Korea Bifacial Solar Market
9.4.6. Rest of Asia Pacific Bifacial Solar Market
9.5. Latin America Bifacial Solar Market Snapshot
9.5.1. Brazil Bifacial Solar Market
9.5.2. Mexico Bifacial Solar Market
9.6. Rest of The World Bifacial Solar Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Jinko Solar Holdings Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Canadian Solar
10.2.3. Yingli Green Energy
10.2.4. LG Electronics
10.2.5. LONGi
10.2.6. JA Solar Holding Co. Ltd.
10.2.7. Sharp Corporation
10.2.8. Sun Power Corporation
10.2.9. Trina Solar
10.2.10. Wuxi Suntech Power Co., Ltd.
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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