[FURL=https://www.industryarc.com/Report/19375/bifacial-solar-panel-bifacial-solar-module-market.html]Bifacial Solar Panel/Bifacial Solar Module Market[/FURL] is expected to grow from $2.5 billion in 2019 at a CAGR of 16.2% during the forecast period 2020-2025. Growing support from governments of several countries in the form of subsides, incentives, investments and so on are analyzed to drive the market. In addition several advantages of Bifacial Solar Panel over monofacial and increased investments by companies for innovation in this Solar panel is also analyzed to drive the market. In 2020, Maxeon has Launched Fifth-Generation Shingled Bifacial Solar Panels for Global Power Plant Market. Hence these growing support and innovations are analyzed to drive the market in the forecast period 2020-2025.Key Takeaways
APAC dominated the market by a market share of more than 34.5% in 2019 followed by North America and Europe.
The economy of APAC is majorly influenced by the major countries such as China and India. In these countries, the government are aggressively implementing regulatory framework to reduce the environmental footprint and providing several incentives and subsides for the installations of renewable energy plants.
Monocrystalline solar panels is growing at a highest CAGR of 19.61% in the forecast period. Owing to its highest efficiency rates than polycrystalline in warm weather and also projected to have the longest life.
Rising government support in the form of incentives, subsides and investments for the investments of these solar panels drive the market growth.
Bifacial Solar Panel/Bifacial Solar Module top 10 companies include Trina Solar, AE Solar, Suntech, LONGi Solar, Yingli Solar, Sunpreme Inc., Prism Solar Technologies, Inc., SoliTek, JA Solar and Canadian Solar among others.
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Bifacial Solar Panel/Bifacial Solar Module Market Segment Analysis - By Geography
APAC dominated the market by a market share of more than 34.5% in 2019 followed by North America and Europe. The economy of APAC is majorly influenced by the major countries such as China and India. In these countries, the government are aggressively implementing regulatory framework to reduce the environmental footprint and providing several incentives and subsides for the installations of renewable energy plants.
Bifacial Solar Panel/Bifacial Solar Module Market Drivers
Increased government support across the globe
Rising adoption and installation of Bifacial Solar Panel/Bifacial Solar Module
Market Landscape: Bifacial Solar Panel/Bifacial Solar Module top 10 companies include Trina Solar, AE Solar, Suntech, LONGi Solar, Yingli Solar, Sunpreme Inc., Prism Solar Technologies, Inc., SoliTek, JA Solar, Canadian Solar among others.
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