Global HIT (Heterojunction) Solar Cell Market Growth 2023-2029

Global HIT (Heterojunction) Solar Cell Market Growth 2023-2029

According to our (LP Info Research) latest study, the global HIT (Heterojunction) Solar Cell market size was valued at US$ 1155.1 million in 2022. With growing demand in downstream market and recovery from influence of COVID-19 and the Russia-Ukraine War, the HIT (Heterojunction) Solar Cell is forecast to a readjusted size of US$ 25350 million by 2029 with a CAGR of 55.5% during review period.

The research report highlights the growth potential of the global HIT (Heterojunction) Solar Cell market. With recovery from influence of COVID-19 and the Russia-Ukraine War, HIT (Heterojunction) Solar Cell are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of HIT (Heterojunction) Solar Cell. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the HIT (Heterojunction) Solar Cell market.

Heterojunction is one of the two advanced cell architectures the solar industry has been banking upon to improve the performance of today’s PV device. The current cell technology incumbent, PERC has hit its efficiency threshold, and even the large wafer trick that allowed it to generate more power is not exclusive to PERC anymore. Consequently, cell/module manufacturers have once again started focusing on high efficiency, and this is where HJT makes its presence felt. HJT, now on the radar of many PV manufacturers, has made significant progress in recent times. As a technology, HJT is a variant of passivated contacts, so is TOPCon. Both the technologies address the primary shortcoming of most of the cell technologies, i.e., recombination due to metallic contacts. This is achieved by electronically separating contacts from the absorber by inserting a wider band-gap layer. Where HJT differs from TOPCon, which is single sided, is that the said layer is inserted on both sides and the process itself is accomplished at a low temperature. HJT comes with a few more advantages such as a short production process with fewer steps, high bifaciality, better low-light performance and low degradation. Besides, HJT is anything but new, as the technology has been in production for over two decades.

Global key players of HIT (heterojunction) solar cell include Huasun, TW Solar, Canadian Solar, REC, Jinneng, etc. The top five players hold a share about 58%. North America is the largest market, has a share about 54%, followed by Europe and Asia, with share 25% and 16%, separately. In terms of product type, silver is the largest segment, accounting for approximately 97% of the market share. At the same time, in terms of downstream, residential use is the largest downstream sector, accounting for 85% of the market share.

Key Features:

The report on HIT (Heterojunction) Solar Cell market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the HIT (Heterojunction) Solar Cell market. It may include historical data, market segmentation by Type (e.g., Silver-based, Copper-based), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the HIT (Heterojunction) Solar Cell market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the HIT (Heterojunction) Solar Cell market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the HIT (Heterojunction) Solar Cell industry. This include advancements in HIT (Heterojunction) Solar Cell technology, HIT (Heterojunction) Solar Cell new entrants, HIT (Heterojunction) Solar Cell new investment, and other innovations that are shaping the future of HIT (Heterojunction) Solar Cell.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the HIT (Heterojunction) Solar Cell market. It includes factors influencing customer ' purchasing decisions, preferences for HIT (Heterojunction) Solar Cell product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the HIT (Heterojunction) Solar Cell market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting HIT (Heterojunction) Solar Cell market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the HIT (Heterojunction) Solar Cell market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the HIT (Heterojunction) Solar Cell industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the HIT (Heterojunction) Solar Cell market.

Market Segmentation:

HIT (Heterojunction) Solar Cell market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
Silver-based
Copper-based
Others

Segmentation by application
PV Power Station
Commercial
Residential

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Panasonic
GS-Solar
REC
Jinneng
Huasun
Akcome
TW Solar
Canadian Solar
Risen Energy
Enel (3SUN)
Meyer Burger
Hevel
EcoSolifer
Heliene

Key Questions Addressed in this Report

What is the 10-year outlook for the global HIT (Heterojunction) Solar Cell market?

What factors are driving HIT (Heterojunction) Solar Cell market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do HIT (Heterojunction) Solar Cell market opportunities vary by end market size?

How does HIT (Heterojunction) Solar Cell break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.