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Bifacial Solar Market Trends

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Report ID: 3690
Published Date: Sep 19, 2024
Report Format: PDF, PPT

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Bifacial Solar Market Trends

Growth Drivers

Higher Productivity from Using Bifacial Solar
Growing Production of Solar Cells and Solar Panels
Increasing Installation of Utility-Scale Solar Panels

Challenges

Lack of Proper Infrastructure in Developing Nations
Higher Cost as Compared to Monofacial Solar

Bifacial Solar Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	14.9%
Base Year Market Size (2023)	USD 16.18 billion
Forecast Year Market Size (2036)	USD 98.43 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Bifacial Solar Market Size & Share, Growth Trends 2036

Author Credits: Dhruv Bhatia

Report ID: 3690
Published Date: Sep 19, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing government initiatives to promote the use of solar energy, and higher capacity of bifacial solar are the major factors driving the market growth.

The market is anticipated to attain ~15% CAGR over the forecast period, i.e., 2022-2030.

Lack of proper infrastructure is one of the factors estimated to hamper the market growth.

The market in Asia Pacific is estimated to garner the largest market share owing to the large number of commercial solar farms in the region.

The major players in the market are Trina Solar Co., Ltd, TATA Power Solar Systems Limited, JA Solar Technology Co., Ltd., ISOVOLTAIC AG, UAB Soli Tek Cells, and others.

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