PERC Photovoltaic Module Market Trends and Forecast
The future of the global PERC photovoltaic module market looks promising with opportunities in the residential, commercial and industrial markets. The global PERC photovoltaic module market is expected to grow with a CAGR of 7.6% from 2025 to 2031. The major drivers for this market are increasing demand for high-efficiency solar panels, declining solar panel costs, and growing global focus on renewable energy.
• Lucintel forecasts that, within the type category, monocrystalline is expected to witness higher growth over the forecast period due to they are made from a single crystal structure.
• Within the application category, industrial is expected to witness the highest growth due to it requires large amounts of energy for manufacturing.
• In terms of region, APAC is expected to witness the highest growth over the forecast period due to high solar energy adoption.
Emerging Trends in the PERC Photovoltaic Module Market
The PERC photovoltaic module market is evolving rapidly, with emerging trends reshaping the solar energy landscape. These trends reflect ongoing technological advancements, shifts in global energy policies, and the increasing demand for renewable energy solutions. Understanding these trends will help stakeholders predict the future direction of the PERC module market.
• Eco-Friendly Manufacturing: ThereÄX%$%Xs an increasing focus on using eco-friendly materials, optimizing production processes to reduce waste, and incorporating recycling programs into business models.
• Economies of Scale and Mass Production: The cost of PERC modules has decreased consistently because of mass production. The cost per watt of PERC solar panels decreases as Chinese manufacturers continue to ramp up production, thus making this technology more widely available to other customers. With the high level of price sensitivity in emerging markets, low cost is a great catalyst for boosting the adoption rate of solar energy. Mass production and better techniques in manufacturing are bound to cut the cost of PERC modules, thus continuing to make solar energy cheaper throughout the world.
• Integration with Energy Storage Systems: There is an increasing trend of integrating PERC photovoltaic modules with energy storage solutions, such as batteries, to provide a more reliable and consistent energy supply. Solar-plus-storage systems are gaining popularity in both residential and commercial markets, as they offer the advantage of storing excess energy for use during periods of low sunlight. This integration enhances the value proposition of solar power, especially in regions where energy demand is high and sunshine is intermittent. The integration of PERC modules with storage is expected to play a key role in grid modernization.
• Introduction of Bifacial Solar Cells: Bifacial solar cells, which capture sunlight on both the front and rear sides, have emerged as the hottest trend in the PERC photovoltaic module market. As a consequence, more energy can be produced with these cells due to the advancements of reflected light from the ground or other surfaces. By including bifacial technology in PERC modules, manufacturers can increase efficiency levels without highly increasing the price. As such, bifacial PERC modules are gaining widespread usage in big solar projects, mainly in regions where sunlight irradiance is high, whose power output additions are particularly valuable.
• Durability and Longevity: This is another area where solar modules are gaining importance in system life, as their life expectancy should be 25 years or more. In order to achieve the above, PERC modules are being designed with enhanced materials and coatings for durability against extreme temperatures and humidity, UV radiation, etc. The focus of enhancing the lifetime of PERC modules ensures that solar energy systems perform reliably and provide long-lasting service, with minimal maintenance, and lower costs for the owner. As durability becomes a prime factor, it is expected that PERC modules will gain the market advantage.
PERC photovoltaic module market is in transformation based on rapid technological advance, lower costs, and including complementary technologies such as energy storage. Emerging trends or phenomena in the industry, such as higher efficiency, bifacial technology, and a focus on durability, are reshaping the industry and contributing to the continued growth of solar energy all over the world. Based on these trends, PERC modules are most likely going to play a crucial role in accelerating the transition of the world towards renewable energy.
Recent Development in the PERC Photovoltaic Module Market
The recent developments in the PERC photovoltaic module market depict the continuous innovation and investment into solar energy technologies. These innovations are aimed at improving the efficiency, cost-effectiveness, and sustainability of solar energy solutions. By focusing on key advancements, manufacturers are setting themselves up for the growing demand for renewable energy and contributing to a cleaner, more sustainable future.
• Advanced manufacturing techniques: PERC photovoltaic modulesÄX%$%X efficiency and reliability have been increased by adopting more advanced production techniques, including automation and precision manufacturing. The reduced cost of production is also accompanied by the fulfillment of high standards in quality, and the uniformity of the performance in larger batches through automation processes helps in meeting the high demand for efficiency products in the solar panel market. As production becomes more streamlined, the cost of a PERC module is expected to continue to come down.
• Improved Efficiency Using New Materials: New materials and technologies, including advanced passivation layers, selective emitters, and bifacial cells, are being used in PERC photovoltaic modules to enhance their efficiency. Several manufacturers have reportedly achieved efficiencies greater than 23%, and efficiency improvements are still expected in the near future. These developments are also driving the limits of new generation in solar power production and making solar energy more competitive with other types of energy. The invention of novel materials is also anticipated to drive the commercialization of next-generation PERC modules.
• Global Manufacturing Capacity Expanding: The solar energy industry has witnessed global expansion of manufacturing capacity to PERC modules. Countries like China, India, and the United States are increasing production of PERC modules to fill in domestic demand and export levels. Economies of scale should reduce costs when manufacturing capacity increases. Solar energy should thus become increasingly accessible to other parts of the world. This growth is vital in achieving global renewable energy targets and in driving the widespread adoption of solar technology.
• Policy Support and Incentives: Around the world, governments are coming up with policies and incentives that encourage the adoption of renewable energy, including PERC photovoltaic modules. For instance, in China, India, and the United States, subsidies, tax credits, and renewable energy targets are promoting the growth of the solar energy sector. These policies will be helpful in lowering the solar energy cost and ensuring that the PERC technology stays competitive in the market. The governmental support will further be seen as a significant influence in the distribution of solar energy on a large scale.
• Focus on Sustainability: Sustainability is becoming a leading focus area in the production of PERC photovoltaic modules. Increasingly, manufacturers use environmentally friendly materials and manufacturing processes to reduce the environmental impact of solar panel production. In addition, there is a growing need for recycling and repurposing old solar panels, further making the solar energy industry more sustainable. As people and businesses continue to become environmentally conscious, sustainable PERC modules will be in greater demand.
Recent developments in the PERC photovoltaic module market are bound to break every limit that comes its way while exploring solar energy technology. It will make further advancement in its manufacturing processes and introduce new materials along with increasing its global penetration to help the manufacturers to design highly efficient cost-effective solar modules. The growing policies of a sustainable world, focusing on policies of support to sustainable sources, would help boost PERC technology.
Strategic Growth Opportunities in the PERC Photovoltaic Module Market
The PERC photovoltaic module market offers growth opportunities, primarily stimulated by technological breakthroughs, government policies, and growing demand across the globe to shift towards a renewable energy market. Key Applications: The above-mentioned potential applications of manufacturers can be approached through emerging segments where PERC technology will show significant improvements and developments. They are indicative both of the marketÄX%$%Xs current and future growth along with changing customer and industry demands.
• Residential Solar Installations: The residential solar market is growing rapidly. More homeowners are looking to reduce their energy costs and carbon footprint. PERC photovoltaic modules are ideal for residential installations due to their high efficiency and durability. With further reductions in the cost of solar panels, the adoption of PERC technology in residential markets will accelerate. Manufacturers can tap into this growing segment by offering affordable and high-performance PERC modules that meet the needs of homeowners seeking reliable solar solutions.
• Commercial and Industrial Applications: Commercial and industrial sectors are increasingly adopting solar energy to lower operational costs and meet sustainability goals. PERC photovoltaic modules are well-suited for large-scale installations due to their higher efficiency and greater power output per square meter. Companies can exploit the increased demand for clean energy by offering custom solutions for commercial and industrial buildings. Solar energy integration into business operations is also expected to grow, creating immense opportunities for PERC module manufacturers.
• Utility-Scale Solar Projects: Utility-scale solar projects are one of the main growth areas for PERC photovoltaic modules. These projects need high-efficiency modules that will deliver maximum power output over vast areas. As countries step up their renewable energy investments, utility-scale solar projects will flourish. For example, manufacturers can focus on this market by producing large volumes of cost-effective and highly efficient PERC modules, which are critical to the targets for renewable energy as well as ensuring the reliable generation of power from solar.
• Off-Grid Solar Solutions: Off-grid solar solutions, particularly in remote areas with limited access to electricity, represent a growing opportunity for PERC technology. PERC modules are best suited for off-grid applications because they can produce more energy in smaller systems. The demand for off-grid solar systems is growing, especially in developing regions, which provides a lot of growth opportunities. Manufacturers can expand their offerings by providing affordable, reliable, and efficient PERC modules that meet the specific needs of off-grid communities.
• Energy Storage Integration: The need to integrate PERC photovoltaic modules with energy storage systems is becoming more important as the demand for reliable, round-the-clock power grows. Combining solar power and energy storage means that consumers can store excess energy generated for use during times of low sunlight. Integration of energy storage with solar increases the overall performance and reliability of solar energy systems even further, increasing demand for PERC technology. Manufacturers can explore opportunities in the solar-plus-storage market by developing modules that are optimized for energy storage applications.
The PERC photovoltaic module market provides substantial strategic growth opportunities across different applications. From residential and commercial installations to utility-scale projects and off-grid solutions, PERC technology will be well-placed to capitalize on the growing global solar energy market. This is an area where manufacturers can capitalize on growth opportunities as the demand for renewable energy solutions grows.
PERC Photovoltaic Module Market Driver and Challenges
Various factors drive the market for photovoltaic modules containing PERC and challenge it during its growth cycle. In recent years, rapid technological growth along with factors economic and regulations influence the usage of PERC. However, higher material cost as well as strong competition due to other competing technology can cause damage to this growing market. Such factors can determine the directions within the maturing solar sector.
The factors responsible for driving the perc photovoltaic module market include:
1. Technology Advancements: Advancement in technological means, such as bifacial cells and improved passivation techniques, is increasing PERC module efficiencies. This further enhances the quality of solar panels, making it more appealing to consumers. Energy generation increases directly with efficiency and is a contributing factor to increased adoption of the PERC technology.
2. Policy Support: Government incentives and policies that favor a reduction in carbon emissions, renewable energy, and increased adoption of PERC modules are leading to widespread acceptance of photovoltaic modules. These policies include tax credits and subsidies, which reduce the solar panelÄX%$%Xs cost to promote its use in homes and commercial establishments.
3. Cost Reducing Permtions: Economies of scale and manufacturing process improvements reduce the cost. The more production increases, and the supply chain is optimized, the more the cost per watt for PERC modules goes down, and hence the solar energy becomes cheaper.
4. Increasing demand for renewable energy: With the growing concern over climate change, there is a rising demand for renewable energy solutions, such as solar power. PERC photovoltaic modules, which have higher efficiency, are well-positioned to meet this demand. As more countries and businesses set renewable energy targets, the demand for PERC technology is expected to rise.
5. Energy Independence: Energy independence is pushing for the installation of solar energy systems, which incorporate PERC modules. In efforts to minimize the use of fossil fuels by nations and businesses, solar energy stands out as clean and renewable. PERC technology is therefore an important contributor toward achieving these goals of energy independence through efficient solar modules.
Challenges in the perc photovoltaic module market are:
1. Raw Material Costs: Fluctuating raw material prices, such as silicon and silver, can affect the cost of manufacturing PERC modules. These price fluctuations may increase the production costs, which can be a challenge to the affordability of solar panels, especially in price-sensitive markets.
2. Competition from Alternative Technologies: Alternative technologies, including thin-film solar cells and other types of high-efficiency modules, compete with PERC photovoltaic modules. Such technologies may have advantages in specific applications, which could limit the market share of PERC technology.
3. Supply Chain Issues: Supply chain disruptions, such as those caused by global trade tensions or pandemics, can affect the availability and cost of materials needed for PERC module production. Such issues may result in delays or price increases, which can impact the marketÄX%$%Xs growth.
Technological advances, government support, and the demand for renewable energy sources catapult this market towards PERC photovoltaic modules. However, challenges include the cost of raw materials, competition from alternative technologies, and disruptions in the supply chain. Overcoming these shall determine whether PERC technology shall be successful in the future.
List of PERC Photovoltaic Module Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies PERC photovoltaic module companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the PERC photovoltaic module companies profiled in this report include-
• Hanwha
• Sharp
• Bosch
• First Solar
• Canadian Solar Emea
• Eco Green Energy
• Everexceed Industrial
• Maysun Solar
• Jinko
• Csiq
PERC Photovoltaic Module Market by Segment
The study includes a forecast for the global PERC photovoltaic module market by type, application, and region.
PERC Photovoltaic Module Market by Type [Value from 2019 to 2031]:
• Monocrystaline
• Polycrystaline
PERC Photovoltaic Module Market by Application [Value from 2019 to 2031]:
• Residential
• Commercial
• Industrial
PERC Photovoltaic Module Market by Region [Value from 2019 to 2031]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the PERC Photovoltaic Module Market
PERC is the term for Passivated Emitter and Rear Cell. The photovoltaic module technology is a current innovation in the solar energy field. It helps to enhance light absorption in the solar cells, while at the same time inhibiting electron recombination. It has become highly prominent due to increased investments in renewable energy from different countries including the United States, China, Germany, India, and Japan, who increase their production levels using PERC technology. The latest developments in these countries are seen as improvements in manufacturing processes, research, and government support aimed at reducing the cost and enhancing the performance of solar panels.
• United States: In the United States, PERC photovoltaic modules are gaining momentum due to incentives offered by the federal and state governments for the adoption of renewable energy. Companies are investing in advanced manufacturing technologies to improve efficiency and reduce costs. Efficient production of PERC modules has gained momentum over time, and some companies have already managed to attain conversion efficiencies over 22%. In addition, the U.S. is emphasizing widespread deployment of PERC modules in residential as well as in large-scale solar installations. Deployment of PERC technology can be said to have been further boosted by the efforts of the Biden administration for clean energy solution needs.
• China: China remains the dominant player in the global solar market, with substantial investments in PERC technology. The country has significantly expanded its capacity for manufacturing PERC solar cells, leading to reductions in module costs. Chinese manufacturers have made advancements in mass-producing high-efficiency PERC modules, with some companies achieving efficiencies above 23%. In addition, the Chinese government continues to provide significant subsidies and favorable policies, which keeps PERC modules as a main component of its aggressive renewable energy goals. China is also exporting PERC technology to other parts of the world, which solidifies its leadership in the industry.
• Germany: Germany has been at the forefront of solar energy adoption, and its commitment to renewable energy continues to drive advanced PERC photovoltaic module development. The German companies heavily invest in researching and developing how to make the PERC technology more durable and efficient. Now, with solar energy market boom, German manufacturing focuses on mass-producing high-performing modules to be used by households and industrial facilities. Therefore, the nationÄX%$%Xs government encourages the use of clean energy with incentives and subsidies, which allows the PERC modules to flood the market swiftly. In addition, GermanyÄX%$%Xs focus on sustainability is promoting the use of PERC technology in eco-friendly energy solutions.
• India: In India, the adoption of PERC photovoltaic modules is gaining pace as the country strives to achieve its ambitious renewable energy targets. The Indian solar market is transforming, and PERC technology is gaining popularity because of its higher efficiency and cost-effectiveness. The Indian government has introduced several policies to encourage the deployment of solar energy, starting with incentives on manufacturing and installation. Domestic manufacturers are scaling up production of PERC modules. India is looking to become the global hub for solar manufacturing and PERC technology is a major part of this vision.
• Japan: Japan has made significant strides in adopting PERC photovoltaic modules as part of its strategy to enhance solar energy production. The country has been a leader in solar panel installation, and recent advancements in PERC technology are contributing to increased efficiencies and better performance in both residential and commercial markets. Japanese companies are focusing on improving the durability and efficiency of PERC modules to meet the countryÄX%$%Xs growing demand for clean energy. Additionally, JapanÄX%$%Xs government continues to incentivize solar energy projects, creating an environment that fosters the growth of PERC technology.
Features of the Global PERC Photovoltaic Module Market
Market Size Estimates: PERC photovoltaic module market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2019 to 2024) and forecast (2025 to 2031) by various segments and regions.
Segmentation Analysis: PERC photovoltaic module market size by type, application, and region in terms of value ($B).
Regional Analysis: PERC photovoltaic module market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the PERC photovoltaic module market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the PERC photovoltaic module market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for PERC photovoltaic module market?
Answer: The global PERC photovoltaic module market is expected to grow with a CAGR of 7.6% from 2025 to 2031.
Q2. What are the major drivers influencing the growth of the PERC photovoltaic module market?
Answer: The major drivers for this market are increasing demand for high-efficiency solar panels, declining solar panel costs, and growing global focus on renewable energy.
Q3. What are the major segments for PERC photovoltaic module market?
Answer: The future of the PERC photovoltaic module market looks promising with opportunities in the residential, commercial and industrial markets.
Q4. Who are the key PERC photovoltaic module market companies?
Answer: Some of the key PERC photovoltaic module companies are as follows:
• Hanwha
• Sharp
• Bosch
• First Solar
• Canadian Solar Emea
• Eco Green Energy
• Everexceed Industrial
• Maysun Solar
• Jinko
• Csiq
Q5. Which PERC photovoltaic module market segment will be the largest in future?
Answer: Lucintel forecasts that, within the type category, monocrystalline is expected to witness higher growth over the forecast period due to they are made from a single crystal structure.
Q6. In PERC photovoltaic module market, which region is expected to be the largest in next 5 years?
Answer: In terms of region, APAC is expected to witness the highest growth over the forecast period due to high solar energy adoption.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the PERC photovoltaic module market by type (monocrystaline and polycrystaline), application (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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