PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1836264
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1836264
Bifacial Solar Market size was valued at US$ 16,897.12 Million in 2024, expanding at a CAGR of 15.3% from 2025 to 2032.
Bifacial solar refers to photovoltaic (PV) panels which capture sunlight from both the front and rear sides of the module. Additionally, bifacial modules utilize reflected and diffused light from surrounding surfaces (albedo effect), significantly increasing overall energy yield and lowering the levelized cost of electricity (LCOE). Additionally, bifacial panels generate up to 10-30% more power than traditional modules by capturing light on both sides, making them highly attractive for utility-scale projects seeking better returns on investment. However, bifacial modules typically require specialized mounting structures, tracking systems, and site optimization (ground reflectivity, tilt angles), leading to higher upfront costs and limiting adoption in price-sensitive markets.
Bifacial Solar Market- Market Dynamics
Increasing investments in large-scale solar projects
Bifacial panels generate electricity from both their front and rear surfaces. The front side collects direct sunlight, while the rear side captures reflected and diffused light from the ground or surrounding surfaces, a phenomenon greatly amplified on bright or reflective terrains like sand, snow, or concrete. Governments and major corporations are accelerating their investments in large-scale solar projects to fulfil aggressive renewable energy targets. According to the report published by PIB Delhi, India in July 2023, under the development of solar parks and ultra mega power projects scheme, the government have sanctioned 50 Solar Parks with aggregate capacity of 37,990 MW in 12 States across India. Additionally, a total of 11 solar parks, with a combined capacity of 8,521 MW, have been fully completed, while another 7 solar parks, totaling 3,985 MW in capacity, are partially complete. In this context, bifacial solar panels have emerged as a leading technology, poised to dominate the solar farm sector due to their distinct efficiency advantages and rapid return on investment.
Bifacial Solar Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 15.3% over the forecast period (2025-2032)
Based on Material segmentation, Monocrystalline Silicon is predicted to show the maximum market share in the year 2024
Based on Power Capacity segmentation, 200-400Wp is the leading Power Capacity in 2024
Based on Frame Type segmentation, Framed Bifacial Solar is the leading Frame Type in 2024
Based on Cell Type segmentation, Heterojunction Cells (HJT) are the leading Cell Type in 2024
Based on Application segmentation, Utilities is the leading Application in 2024
Based on region, the Asia-Pacific is the leading revenue generator in 2024
The Global Bifacial Solar Market is segmented on the basis of Material, Power Capacity, Frame Type, Cell Type, Application, and Region.
The market is divided into two categories based on Material: Monocrystalline Silicon, and Polycrystalline Silicon. Monocrystalline panels deliver higher energy yields and longer lifespans, driving their preference in large-scale and premium applications. Polycrystalline remains relevant where budget constraints exist.
The market is divided into three categories based on Power Capacity: Upto 200 Wp, 200-400 Wp, and Above 400 Wp. Bifacial solar panels with power capacity up to 200 Wp are mainly used in residential and small off-grid applications. The 200-400 Wp range suits commercial and industrial installations, while panels above 400 Wp are preferred for large-scale utility projects due to higher efficiency and energy generation.
Bifacial Solar Market- Geographical Insights
Asia Pacific is the largest and fastest-growing region in the bifacial solar market. Countries like China, India, and Japan are leading in solar panel manufacturing and deployment. China's aggressive renewable energy policies, robust manufacturing infrastructure, and commitment to carbon neutrality by 2060 make it the dominant player. This region's expansive solar infrastructure investments and high energy demand fuel market growth. Europe stands as the second-largest market, with strong government policies encouraging green energy transition. Countries like Germany, France, and the UK actively deploy bifacial panels, especially in utility and commercial sectors. North America, especially is experiencing increased interest in bifacial solar, supported by government policies promoting renewable energy. Solar power production is expanding significantly, with bifacial modules improving energy output efficiency. Latin America, the Middle East & Africa regions are witnessing emerging adoption due to growing awareness of renewable energy benefits and improving solar infrastructure. Investment levels vary, however, bifacial solar is gaining traction as costs decline and efficiency improves.
The bifacial solar market's competitive landscape in 2024 is marked by intense competition among leading global players, driven by advancements in technology, strategic collaborations, and expansion initiatives. The market is dominated by several key companies that have established strong positions through innovation and global reach. LONGi is a global leader renowned for its high-efficiency monocrystalline bifacial solar modules, notably the Hi-MO series. Its extensive R&D and manufacturing facilities across multiple countries enable it to produce cost-effective, high-performance panels. Canadian Solar Inc. emphasizes reliability in diverse climates, making it highly competitive in utility-scale solar farms. Trinasolar focuses on innovation with dual-glass bifacial modules like Duomax Twin and Tallmax Twin, employing PERC technology to boost performance. It benefits from a large manufacturing base spanning multiple countries and a wide global market presence. Additionally, the market players in the bifacial solar market invested in scaling up manufacturing capacity and product portfolio. For instance, in June 2025, JinkoSolar Holding Co. introduced the Tiger Neo 3.0 series with up to 670 W output, 24.8% efficiency, and 85% bifaciality. Simultaneously, they unveiled a perovskite/TOPCon tandem cell with a certified 34.22% efficiency.
In May 2025, LONGi introduced its residential-focused EcoLife Series featuring back-contact (BC) technologies-Hi-MO S10 (HBC) and Hi-MO X10 (HPBC 2.0)-with up to 25% and 24.8% module efficiencies, respectively, up to 510 W output, and 30-year warranties.
In December 2024, Trina unveiled its 760 W i-TOPCon Ultra module (Vertex N family) featuring 24.5% efficiency, bifaciality of 90%, and strong low-light performance. Mass production is slated for Q2 2025 with an initial 10 GW capacity.