Europe Heterojunction (HJT) Solar Cell Market Size, Share & Trends Analysis Report By Type (Bifacial Cell, and Monofacial Cell), By Application (Residential, Commercial, and PV Power Station. By Country and Growth Forecast, 2024 - 2031
Europe Heterojunction (HJT) Solar Cell Market Size, Share & Trends Analysis Report By Type (Bifacial Cell, and Monofacial Cell), By Application (Residential, Commercial, and PV Power Station. By Country and Growth Forecast, 2024 - 2031
The Europe Heterojunction (HJT) Solar Cell Market would witness market growth of 16.5% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Heterojunction (HJT) Solar Cell Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $173.8 Million by 2031. The UK market is exhibiting a CAGR of 15.4% during (2024 - 2031). Additionally, The France market would experience a CAGR of 17.8% during (2024 - 2031).
The market for heterojunction (HJT) solar cells is poised at a critical juncture in the renewable energy landscape, which is marked by rapid technological advancements and increasing environmental awareness. As the demand for cleaner energy sources escalates, solar power continues to gain prominence, fueled by its potential to provide sustainable, low-carbon energy.
HJT technology combines the benefits of crystalline silicon solar cells with those of thin-film technologies, enabling it to achieve higher efficiencies and superior performance under different environmental conditions. The efficiency of the cell's conversion of sunlight into electricity is improved by the reduction of electron recombination in this configuration. The technology's dual nature improves its efficiency and adaptability to varying temperatures, making HJT solar cells particularly effective in regions with high ambient temperatures.
Spain is leading the energy transition as a result of its energy and climate change policies. The framework for energy and climate in Spain is now based on the 2050 goals of achieving national climate neutrality, incorporating renewable energy into the electricity mix at a rate of one hundred percent, and incorporating renewable energy into the entire energy mix at a rate of nine, seven percent. This is due to the fact that it is focused on the significant advancement of renewable energy, particularly solar. The Spanish government offers various programs to support innovation in the renewable energy sector. The Centre for Industrial Technological Development (CDTI) provides grants and funding for R&D projects. This government support can accelerate the adoption of HJT technology through advancements in domestic manufacturing. Thus, these dynamics show a clear trend toward increasing adoption of HJT solar technology in Europe.
Based on Type, the market is segmented into Bifacial Cell, and Monofacial Cell. Based on Application, the market is segmented into Residential, Commercial, and PV Power Station.. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
Reliance Industries Limited (REC Solar Pte. Ltd.)
Jinneng Clean Energy Technology Ltd. (Jinneng Holding Group)
Anhui Huasun Energy Co., Ltd.
Jiangsu Akcome Science and Technology Co., Ltd.
CANADIAN SOLAR INC.
RISEN ENERGY Co., LTD.
Enel S.p.A
Meyer Burger Technology AG
Europe Heterojunction (HJT) Solar Cell Market Report Segmentation
By Type
Bifacial Cell
Monofacial Cell
By Application
Residential
Commercial
PV Power Station
By Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Netherlands
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Taiwan
Australia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
Egypt
South Africa
Morocco
Chile
Rest of LAMEA
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Heterojunction (HJT) Solar Cell Market, by Type
1.4.2 Europe Heterojunction (HJT) Solar Cell Market, by Application
1.4.3 Europe Heterojunction (HJT) Solar Cell Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Europe Heterojunction (HJT) Solar Cell Market by Type
4.1 Europe Bifacial Cell Market by Country
4.2 Europe Monofacial Cell Market by Country
Chapter 5. Europe Heterojunction (HJT) Solar Cell Market by Application
5.1 Europe Residential Market by Country
5.2 Europe Commercial Market by Country
5.3 Europe PV Power Station Market by Country
Chapter 6. Europe Heterojunction (HJT) Solar Cell Market by Country
6.1 Germany Heterojunction (HJT) Solar Cell Market
6.1.1 Germany Heterojunction (HJT) Solar Cell Market by Type
6.1.2 Germany Heterojunction (HJT) Solar Cell Market by Application
6.2 UK Heterojunction (HJT) Solar Cell Market
6.2.1 UK Heterojunction (HJT) Solar Cell Market by Type
6.2.2 UK Heterojunction (HJT) Solar Cell Market by Application
6.3 France Heterojunction (HJT) Solar Cell Market
6.3.1 France Heterojunction (HJT) Solar Cell Market by Type
6.3.2 France Heterojunction (HJT) Solar Cell Market by Application
6.4 Russia Heterojunction (HJT) Solar Cell Market
6.4.1 Russia Heterojunction (HJT) Solar Cell Market by Type
6.4.2 Russia Heterojunction (HJT) Solar Cell Market by Application
6.5 Netherlands Heterojunction (HJT) Solar Cell Market
6.5.1 Netherlands Heterojunction (HJT) Solar Cell Market by Type
6.5.2 Netherlands Heterojunction (HJT) Solar Cell Market by Application
6.6 Italy Heterojunction (HJT) Solar Cell Market
6.6.1 Italy Heterojunction (HJT) Solar Cell Market by Type
6.6.2 Italy Heterojunction (HJT) Solar Cell Market by Application
6.7 Rest of Europe Heterojunction (HJT) Solar Cell Market
6.7.1 Rest of Europe Heterojunction (HJT) Solar Cell Market by Type
6.7.2 Rest of Europe Heterojunction (HJT) Solar Cell Market by Application
Chapter 7. Company Profiles
7.1 Reliance Industries Limited (REC Solar Pte. Ltd.)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental Analysis
7.1.4 Research & Development Expenses
7.1.5 SWOT Analysis
7.2 Jinneng Clean Energy Technology Ltd. (Jinneng Holding Group)
7.2.1 Company Overview
7.3 Anhui Huasun Energy Co., Ltd.
7.3.1 Company Overview
7.4 Jiangsu Akcome Science and Technology Co., Ltd.