The Asia Pacific Heterojunction (HJT) Solar Cell Market is projected to witness market growth of 17.6% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Heterojunction (HJT) Solar Cell Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $798.4 Million by 2031. The Japan market is registering a CAGR of 16.8% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 18.4% during (2024 - 2031).
HJT cells do not rely on lead-based materials, which are often used in certain solar panels. Lead is known for its potential environmental and health hazards, including toxicity that can impact ecosystems and human health if not properly managed. The exclusion of lead from HJT solar cells enhances their environmental profile and aligns with global regulations that reduce hazardous substances in electronic and electrical equipment.
These environmentally friendly attributes of HJT solar cells contribute to a reduced ecological footprint and appeal to consumers and industries looking to adopt greener technologies. As sustainability becomes a more prominent criterion in energy production, technologies like HJT that offer high efficiency and lower environmental impact are poised to gain significant market traction.
The technology's superior performance in Australia influences the demand for HJT solar cells. Australian companies and research institutions are actively enhancing HJT technology, with achievements like setting new efficiency records. The adoption of HJT in Australia is supported by its excellent performance in local environmental conditions characterized by high irradiance and temperature variations. Therefore, the region will present lucrative growth opportunities for the market in the coming years.
The China market dominated the Asia Pacific Heterojunction (HJT) Solar Cell Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $798.4 Million by 2031. The Japan market is registering a CAGR of 16.8% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 18.4% during (2024 - 2031).
HJT cells do not rely on lead-based materials, which are often used in certain solar panels. Lead is known for its potential environmental and health hazards, including toxicity that can impact ecosystems and human health if not properly managed. The exclusion of lead from HJT solar cells enhances their environmental profile and aligns with global regulations that reduce hazardous substances in electronic and electrical equipment.
These environmentally friendly attributes of HJT solar cells contribute to a reduced ecological footprint and appeal to consumers and industries looking to adopt greener technologies. As sustainability becomes a more prominent criterion in energy production, technologies like HJT that offer high efficiency and lower environmental impact are poised to gain significant market traction.
The technology's superior performance in Australia influences the demand for HJT solar cells. Australian companies and research institutions are actively enhancing HJT technology, with achievements like setting new efficiency records. The adoption of HJT in Australia is supported by its excellent performance in local environmental conditions characterized by high irradiance and temperature variations. Therefore, the region will present lucrative growth opportunities for the market in the coming years.
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
Market Report Segmentation
By Type- Bifacial Cell
- Monofacial Cell
- Residential
- Commercial
- PV Power Station
- China
- Japan
- India
- South Korea
- Taiwan
- Australia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Heterojunction (HJT) Solar Cell Market by Type
Chapter 5. Asia Pacific Heterojunction (HJT) Solar Cell Market by Application
Chapter 6. Asia Pacific Heterojunction (HJT) Solar Cell Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- 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
Methodology
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