Bifacial Solar Panels Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The most recent innovation in solar panel design uses high-efficiency solar cells that are positioned on both sides of the module to simultaneously create power called bifacial solar panels. It can absorb light from the rear and front sides, allowing the usage of diffused light, and reflect light off the roof or the ground beneath the panel. High-wattage modules and high-efficiency panels are used in the development of bifacial solar panels as well as solar cells. For ground-mount systems, these solar modules are ideally suited.`

MARKET DYNAMICS

Electricity demand from the business and residential sectors is rising. The bifacial solar market is growing because of firms releasing the most modern solar modules that focus on cost, efficiency, and design of the solar panel in response to the increasing demand for solar-based electricity across the globe. The market demand is increasing because of falling energy prices and greater affordability. In the study period, the market is anticipated to grow because of an increase in rooftop and ground-mount installation in commercial spaces, residential setups, and utility-scale systems.

MARKET SCOPE

The "Global Bifacial Solar Panels Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The bifacial solar panels market report aims to provide an overview of the bifacial solar panels market with detailed market segmentation by type, application, and geography. The global bifacial solar panels market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading bifacial solar panels market player and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global bifacial solar panels market is segmented based on type, application. Based on type, the bifacial solar panels market is segmented into monocrystalline solar panels, polycrystalline solar panels, thin-film solar panels. Based on application, the bifacial solar panels market is segmented into residential, commercial.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global bifacial solar panels market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The bifacial solar panels market by each region is later sub-segmented by respective countries and segments. The bifacial solar panels market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the bifacial solar panels market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the bifacial solar panels market in these regions.

IMPACT OF COVID-19 ON BIFACIAL SOLAR PANELS MARKET

The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global bifacial solar panels market. The supply chain disruptions influenced the decline in demand for bifacial solar panels. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturers of bifacial solar panels thereby impacting the growth of the global bifacial solar panels market.

MARKET PLAYERS

The reports cover key developments in the bifacial solar panels market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from bifacial solar panels market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the bifacial solar panels market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bifacial solar panels market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Ankara Solar AS
  
•   LONGi Green Energy Technology Co., Ltd.
  
•   Adani Group
  
•   LG Electronics Inc.
  
•   Canadian Solar Inc.
  
•   SoliTek
  
•   JA SOLAR Technology Co.,Ltd.
  
•   Trina Solar
  
•   Lumos Solar
  
•   Wuxi Suntech Power Co., Ltd.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Bifacial Solar Panels Report Scope