Bifacial Solar Market to Reach USD $17.37 Billion by 2029 at 13.8% CAGR

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The Business Research Company’s Bifacial Solar Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, October 17, 2025 /EINPresswire.com/ -- What Is The Estimated Industry Size Of Bifacial Solar Market?
There has been a swift expansion in the size of the bifacial solar market in the recent years. Projected to upslope from $9.14 billion in 2024 to $10.37 billion in 2025, this growth depicts a compound annual growth rate (CAGR) of 13.5%. Factors contributing to the historic period growth include advancements in solar technology, governmental incentives, lowering prices of solar panels, raised awareness regarding renewable energy sources, and a large influx of investments in research and development.

Expect a considerable expansion in the bifacial solar market size in the forthcoming years, with a projected worth of $17.37 billion by 2029 and a compound annual growth rate (CAGR) of 13.8%. This predicted rise in the forecast period is due to factors such as the increasing installations of renewable energy, amplified investment in environmentally friendly energy sources, constant government backing through subsidies and policies, the ongoing evolution of solar technology, endeavors to lower costs, and increasing corporate adoption of sustainable energy solutions. The forecast period is marked by trends like improved efficiency of bifacial panels, broader adoption across diverse sectors, outreach into developing markets, alliance with other green energy technologies, amplifying focus on sustainability and green energy solutions, corporate social responsibility initiatives, and a consistent drop in expenses associated with bifacial solar technology.

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What Are The Major Factors Driving The Bifacial Solar Global Market Growth?
The bifacial solar market is anticipated to expand due to a surge in demand for solar-powered electricity. The term solar-based electricity implies power generated from the sun using either photovoltaic cells or solar-thermal systems. Enhanced environmental awareness and the drive towards sustainable energy sources against climate change are contributing to the increased demand for electricity produced from solar energy. By enabling solar panels to gather sunlight on both sides, bifacial solar significantly enhances the generation of solar electricity, thus yielding more energy than the conventional monofacial panels. For example, by the year 2024, as per the Energy Information Administration, a government agency based in the US, it's expected that solar power generation in the US will escalate by 75%, rising from 163 billion kWh in 2023 to 286 billion kWh in 2025. Additionally, Wind power generation is expected to witness an increment of 11%, increasing from 430 billion kWh in 2023, to reach 476 billion kWh in 2025. Hence, the surge in demand for electricity driven by solar power is fueling the growth of the bifacial solar market.

Who Are The Leading Companies In The Bifacial Solar Market?
Major players in the Bifacial Solar include:
• Reliance Industries Ltd
• LG Electronics
• LONGi Green Energy Technology Co. Ltd.
• Sharp Corporation
• Trina Solar Co Ltd
• Jinko Solar Holdings
• JA Solar Technology Co. Ltd.
• Hanwha Solutions
• Canadian Solar Inc.
• Risen Energy

What Are The Prominent Trends In The Bifacial Solar Market?
Big players in the bifacial solar market are leaning towards innovation in their bifacial solar technology, like incorporating TOPCon bifacial PV modules, to stand out in the market. The TOPCon (Tunnel Oxide Passivated Contact) bifacial PV modules are high-tech photovoltaic modules that merge TOPCon technology and bifacial capabilities. These are specially created to absorb sunlight from both front and back of the module thereby boosting their power generation efficiency when compared to traditional monofacial modules. A case in point is Adani Solar, an Indian solar manufacturing firm, who in April 2024 introduced their 575 W TOPCon bifacial PV module. This product provides a top power output in the range of 550 W to 575 W, efficiencies peaking at 22.4%. Built in compliance with domestic content and comprised of elite features like a transparent backsheet and sturdy performance warranties, these modules are designed to serve advanced solar power projects worldwide.

What Are The Primary Segments Covered In The Global Bifacial Solar Market Report?
The bifacial solarmarket covered in this report is segmented –

1) By Type: Monocrystalline Bifacial Solar Panels, Polycrystalline Bifacial Solar Panels, Thin-Film Bifacial Solar Panels
2) By Installation: Ground-Mounted Bifacial Solar Panels, Rooftop Bifacial Solar Panels
3) By Cell Type: Passivated Emitter Rear Cell, Heterojunction, Other Cell Types
4) By End-User: Utility-Scale Solar Projects, Commercial And Industrial (C And I) Sector, Residential Sector

Subsegments:
1) By Monocrystalline Bifacial Solar Panels: High-Efficiency Monocrystalline Bifacial Panels, PERC (Passivated Emitter and Rear Contact) Monocrystalline Bifacial Panels, Dual-Glass Monocrystalline Bifacial Panels
2) By Polycrystalline Bifacial Solar Panels: Standard Polycrystalline Bifacial Panels, Dual-Glass Polycrystalline Bifacial Panels, High-Performance Polycrystalline Bifacial Panels
3) By Thin-Film Bifacial Solar Panels: Amorphous Silicon Bifacial Panels, Cadmium Telluride (CdTe) Bifacial Panels, Copper Indium Gallium Selenide (CIGS) Bifacial Panels

View the full bifacial solar market report:
https://www.thebusinessresearchcompany.com/report/bifacial-solar-global-market-report

Which Region Is Forecasted To Grow The Fastest In The Bifacial Solar Industry?
In 2024, North America led the bifacial solar market. It is anticipated that the fastest growth will be seen in the Asia-Pacific region over the projected period. The report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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