North America 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

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The North America Heterojunction (HJT) Solar Cell Market would witness market growth of 16.2% CAGR during the forecast period (2024-2031).

The US market dominated the North America 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 $641.4 Million by 2031. The Canada market is experiencing a CAGR of 18.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 17.7% during (2024 - 2031).

Heterojunction (HJT) solar cells are renowned for their lower temperature coefficients than other photovoltaic technologies. This attribute means that HJT cells experience a smaller decline in performance when exposed to high temperatures. This is a significant advantage in hot climates where solar panels often operate under intense sunlight, leading to elevated panel temperatures that can diminish the efficiency of other solar cell types.

The reduced susceptibility of HJT solar cells to light-induced degradation (LID) stems from their unique construction. Amorphous silicon is deposited in thin layers on both surfaces of a crystalline silicon wafer to produce these cells. The amorphous silicon acts as a passivation layer, which helps to protect the crystalline silicon core and reduce defects that can lead to recombination losses. This structure not only enhances the initial efficiency of the solar cells but also minimizes the potential for efficiency losses due to light exposure.

Mexico has enormous potential to develop renewable energy projects. The country has high solar radiation, wind capacity, and geothermal sources. According to Mexico's Energy Transition Law (Ley de Transicion Energetica) and General Climate Change Law (Ley General de Cambio Climatico), Mexico's goal is to 35 percent of electricity from clean energy sources by 2024. Mexico has been working on enhancing its solar energy infrastructure with several initiatives encouraging the use of high-efficiency solar technologies. This push is aligned with global trends where countries seek to reduce carbon emissions and capitalize on the superior performance of HJT technology, especially its high energy yield and lower temperature coefficient, which are ideal for Mexico's predominantly sunny climate. Thus, as the North American market continues to evolve, these factors collectively drive the increasing adoption of HJT solar cells.

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 U.S., Mexico, Canada, and Rest of North America.

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

North America 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 North America Heterojunction (HJT) Solar Cell Market, by Type
- 1.4.2 North America Heterojunction (HJT) Solar Cell Market, by Application
- 1.4.3 North America 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. North America Heterojunction (HJT) Solar Cell Market by Type

4.1 North America Bifacial Cell Market by Region
4.2 North America Monofacial Cell Market by Region

Chapter 5. North America Heterojunction (HJT) Solar Cell Market by Application

5.1 North America Residential Market by Country
5.2 North America Commercial Market by Country
5.3 North America PV Power Station Market by Country

Chapter 6. North America Heterojunction (HJT) Solar Cell Market by Country

6.1 US Heterojunction (HJT) Solar Cell Market
- 6.1.1 US Heterojunction (HJT) Solar Cell Market by Type
- 6.1.2 US Heterojunction (HJT) Solar Cell Market by Application
6.2 Canada Heterojunction (HJT) Solar Cell Market
- 6.2.1 Canada Heterojunction (HJT) Solar Cell Market by Type
- 6.2.2 Canada Heterojunction (HJT) Solar Cell Market by Application
6.3 Mexico Heterojunction (HJT) Solar Cell Market
- 6.3.1 Mexico Heterojunction (HJT) Solar Cell Market by Type
- 6.3.2 Mexico Heterojunction (HJT) Solar Cell Market by Application
6.4 Rest of North America Heterojunction (HJT) Solar Cell Market
- 6.4.1 Rest of North America Heterojunction (HJT) Solar Cell Market by Type
- 6.4.2 Rest of North America 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.
- 7.4.1 Company Overview
7.5 Canadian Solar Inc.
- 7.5.1 Company Overview
7.6 RISEN ENERGY Co., LTD.
- 7.6.1 Company Overview
7.7 Meyer Burger Technology AG
- 7.7.1 Company Overview
- 7.7.2 Financial Analysis
7.8 Enel S.p.A
- 7.8.1 Company Overview
- 7.8.2 Financial Analysis
- 7.8.3 Segmental and Regional Analysis
- 7.8.4 SWOT Analysis

LIST OF TABLES

TABLE 1 North America Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 2 North America Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 3 North America Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 4 North America Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 5 North America Bifacial Cell Market by Region, 2020 - 2023, USD Million
TABLE 6 North America Bifacial Cell Market by Region, 2024 - 2031, USD Million
TABLE 7 North America Monofacial Cell Market by Region, 2020 - 2023, USD Million
TABLE 8 North America Monofacial Cell Market by Region, 2024 - 2031, USD Million
TABLE 9 North America Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 10 North America Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 11 North America Residential Market by Country, 2020 - 2023, USD Million
TABLE 12 North America Residential Market by Country, 2024 - 2031, USD Million
TABLE 13 North America Commercial Market by Country, 2020 - 2023, USD Million
TABLE 14 North America Commercial Market by Country, 2024 - 2031, USD Million
TABLE 15 North America PV Power Station Market by Country, 2020 - 2023, USD Million
TABLE 16 North America PV Power Station Market by Country, 2024 - 2031, USD Million
TABLE 17 North America Heterojunction (HJT) Solar Cell Market by Country, 2020 - 2023, USD Million
TABLE 18 North America Heterojunction (HJT) Solar Cell Market by Country, 2024 - 2031, USD Million
TABLE 19 US Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 20 US Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 21 US Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 22 US Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 23 US Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 24 US Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 25 Canada Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 26 Canada Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 27 Canada Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 28 Canada Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 29 Canada Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 30 Canada Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 31 Mexico Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 32 Mexico Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 33 Mexico Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 34 Mexico Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 35 Mexico Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 36 Mexico Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 37 Rest of North America Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 38 Rest of North America Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 39 Rest of North America Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 40 Rest of North America Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 41 Rest of North America Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 42 Rest of North America Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 43 Key Information - Reliance Industries Limited
TABLE 44 Key Information - Jinneng Clean Energy Technology Ltd.
TABLE 45 Key Information - Anhui Huasun Energy Co., Ltd.
TABLE 46 Key Information - Jiangsu Akcome Science and Technology Co., Ltd.
TABLE 47 Key Information - Canadian Solar Inc.
TABLE 48 Key Information - RISEN ENERGY Co., LTD.
TABLE 49 Key Information - Meyer Burger Technology AG
TABLE 50 Key Information - Enel S.p.A

North America 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

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