Description

The global bifacial solar panel market size is anticipated to project a CAGR of 28.9% during the forecast period (2025–2033). According to the Wood Mackenzie Power & Renewables report, the installed capacity of bifacial grew from around 97 MW globally in 2025 to more than 2,600 MW in 2033. It is projected to reach 32,000 MW in 2033. In addition, the recent data by Infolink expects global bifacial demand to reach 12GW in 2020.

The bifacial solar panel market is gaining significant traction as the global shift toward renewable energy intensifies. Bifacial solar panels, which capture sunlight on both the front and rear sides, offer higher efficiency compared to traditional monofacial panels. This dual-sided energy capture enhances overall energy output, especially in environments with reflective surfaces like snow or sand. As the solar energy sector continues to grow, bifacial panels are becoming increasingly popular for both utility-scale projects and residential installations. They provide higher return on investment (ROI) due to their increased energy yield, even in suboptimal conditions. Technological advancements in materials, coatings, and panel design are making bifacial panels more affordable, while government incentives for renewable energy are further accelerating their adoption. As the industry evolves, bifacial solar panels are positioning themselves as a key solution in the transition to a cleaner, more sustainable energy landscape, with a growing market share in both developed and emerging economies.

Factors Affecting the Bifacial Solar Panel Market over the Forecast Period:

• Rising demand for electricity and the cost of large-scale electric photovoltaics is lower than that of fossil fuel are the main drivers of the bifacial solar panel market.
• Governments across the globe are offering incentives and promoting the large-scale deployment of solar energy, which is boosting the bifacial solar panel market growth.
• The key manufacturers are focused on improving various properties such as low degradation rate, cell temperature, high flameproof rating, mechanical strength, less flexing, reduction of delamination, micro-cracking, and moisture corrosion to improve the quality and functions of the bifacial solar panels, which attract the customers and positively impact on the growth of the market.
• However, the high installation and management costs are the key restraining factor of the bifacial solar panel market. The lack of awareness, standardization, and interoperability is expected to impede the growth of the bifacial solar panel market.

Market Dynamics:

The bifacial solar panel market is driven by the increasing demand for efficient and cost-effective solar solutions, as well as advancements in solar technology. Unlike traditional panels, bifacial panels can generate energy from reflected sunlight, improving their performance, especially in high-reflectivity environments like snow-covered or desert areas. This additional energy capture translates to higher overall efficiency and makes bifacial panels attractive for both residential and commercial installations. Factors like falling manufacturing costs, technological innovation, and the push for sustainable energy solutions are driving market growth. Furthermore, governments across the globe are introducing subsidies and tax incentives for renewable energy projects, making bifacial panels more accessible. The challenge lies in the higher initial investment cost compared to traditional monofacial panels. However, with increasing production capabilities and the growing need for clean energy, bifacial panels are expected to gain market share, especially in regions with high solar radiation.

Scope of the Report

The report outlines the global bifacial solar panel market based on cell type, frame type, solar panel type, and application.

Based on the cell type, the bifacial solar panel market has been segmented into –

• Heterojunction Cell
• Passivated Emitter Rear Cell

Based on the frame type, the bifacial solar panel market has been segmented into –

• Framed Bifacial Solar Panel
• Frameless Bifacial Solar Panel

Based on the solar panel type, the bifacial solar panel market has been segmented into–

• Monocrystalline Solar Panels
• Polycrystalline Solar Panels
• Thin-film Solar Panels

Based on the application, the bifacial solar panel market has been segmented into –

• Residential
• Commercial

Bifacial Solar Panel Market: Regional Outlook

The bifacial solar panel market is experiencing varying growth across different regions, with North America, Asia-Pacific, and Europe leading the charge. North America, especially the U.S., is seeing growing demand for bifacial panels due to state-level incentives, favorable regulatory frameworks, and a commitment to clean energy. Technological advancements, coupled with large-scale solar farms, are contributing to market growth in this region. In Europe, countries like Germany, the Netherlands, and Spain are pioneering bifacial solar adoption, driven by aggressive renewable energy targets and government policies promoting green energy. Asia-Pacific, particularly China, is the largest producer of bifacial panels and is also witnessing robust growth in the installation of these panels, both domestically and in export markets. The Middle East and North Africa (MENA) region is emerging as a potential growth market due to its high solar irradiance and the region’s growing investment in renewable energy. Latin America and Africa show increasing interest in bifacial panels, driven by efforts to address energy access and the rapid decline in solar panel costs.

Key Global Bifacial Solar Panel Market Competitors Includes –

The global bifacial solar panel market is highly fragmented, with the presence of a large number of players across the globe. The key players operating in the global bifacial solar panel market include–

• LG Electronics
• MegaCell
• Neo Solar Power
• Panasonic
• Prism Solar
• PVG Solutions
• SolarWorld
• Yingli Green Energy
• LONGi
• Lumos Solar
• Silfab
• Supreme
• Trina Solar.

The bifacial solar panel market report provides a thorough analysis of macro-economic factors and the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the presence of the market players in the respective segment and region/country. The information concluded in the report includes the inputs.

Bifacial Solar Panel Market Report Covers Comprehensive Analysis On:

• Market Segmentation & Regional Analysis
• Market Size of 10 years
• Pricing Analysis
• Supply & Demand Analysis
• Product Life Cycle Analysis
• Porter's Five Forces & Value Chain Analysis
• Developed & Emerging Economies Analysis
• PEST Analysis
• Market and Forecast Factor Analysis
• Market Opportunities, Risks, & Trends
• Conclusion & Recommendation
• Regulatory Landscape
• Patent Analysis
• Competition Landscape
• 15+ Company Profiles

Bifacial Solar Panel Market Regional Analysis Includes:

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Bifacial Solar Panel Market: Target Audience

• Bifacial solar panel manufacturers
• Solar panel manufacturers, distributors, and suppliers
• PV distributors and suppliers
• Trade publications and magazines
• Government authorities, associations, and organizations

Key Issues Addressed

• What is the market size by various segmentation of the bifacial solar panel by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the bifacial solar panel market?
• What are the key opportunities and trends for manufacturers involved in the bifacial solar panel supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• What will be the impact of cutting-edge technology on the bifacial solar panel market?
• How has COVID-19 impacted the demand and sales of bifacial solar panels in the global market? Also, the expected BPS drop or rise count of the market and market expected recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.