LAMEA 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 Latin America, Middle East and Africa Heterojunction (HJT) Solar Cell Market would witness market growth of 20.5% CAGR during the forecast period (2024-2031).

The Brazil market dominated the LAMEA 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 $94.4 Million by 2031. The Argentina market is showcasing a CAGR of 21.6% during (2024 - 2031). Additionally, The Egypt market would register a CAGR of 19.6% during (2024 - 2031).

Despite these advantages, the market faces significant challenges, particularly in production costs and technological complexities. The advanced materials and precision manufacturing processes required for HJT cells lead to higher initial costs than more established technologies like PERC (Passivated Emitter Rear Cell). Additionally, the production process for HJT cells requires sophisticated equipment and a high degree of technical expertise to manage the delicate layers and prevent defects, further adding to the costs.

However, despite these challenges, the future of the market looks promising. The increasing focus on reducing carbon emissions and the continuous improvement in solar technology bodes well for adopting HJT cells. Governments and private entities are ramping up efforts to increase the share of renewables in energy production, with solar energy playing a pivotal role. Incentives, subsidies, and regulatory support are likely to drive the growth of the market further.

The Vision 2030 initiative in Saudi Arabia is the primary factor driving the demand for HJT solar cells. This initiative is designed to reduce dependence on hydrocarbons and diversify the economy. Advanced technologies such as HJT are essential for the country to achieve its goal of installing 40 GW of solar capacity by 2030. The Saudi government has been fostering partnerships with leading solar technology companies to develop local manufacturing capabilities and enhance the adoption of high-efficiency HJT cells.

The Renewable Energy Project Development Office (REPDO) has been instrumental in promoting large-scale solar projects, including those utilizing HJT technology. Thus, these factors indicate the promising potential for HJT solar cells in the LAMEA region as nations prioritize clean energy, grid stability, and cost-effectiveness.

Free Valuable Insights: The Worldwide Heterojunction (HJT) Solar Cell Market is Projected to reach USD 4.6 Billion by 2031, at a CAGR of 17.3%

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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.

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

LAMEA Heterojunction (HJT) Solar Cell Market Report Segmentation

By Type

• Bifacial Cell
• Monofacial Cell

By Application

• Residential
• Commercial
• PV Power Station

By Country

• 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 LAMEA Heterojunction (HJT) Solar Cell Market, by Type
1.4.2 LAMEA Heterojunction (HJT) Solar Cell Market, by Application
1.4.3 LAMEA 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. LAMEA Heterojunction (HJT) Solar Cell Market by Type
4.1 LAMEA Bifacial Cell Market by Country
4.2 LAMEA Monofacial Cell Market by Country

Chapter 5. LAMEA Heterojunction (HJT) Solar Cell Market by Application
5.1 LAMEA Residential Market by Country
5.2 LAMEA Commercial Market by Country
5.3 LAMEA PV Power Station Market by Country

Chapter 6. LAMEA Heterojunction (HJT) Solar Cell Market by Country
6.1 Brazil Heterojunction (HJT) Solar Cell Market
6.1.1 Brazil Heterojunction (HJT) Solar Cell Market by Type
6.1.2 Brazil Heterojunction (HJT) Solar Cell Market by Application
6.2 Argentina Heterojunction (HJT) Solar Cell Market
6.2.1 Argentina Heterojunction (HJT) Solar Cell Market by Type
6.2.2 Argentina Heterojunction (HJT) Solar Cell Market by Application
6.3 Egypt Heterojunction (HJT) Solar Cell Market
6.3.1 Egypt Heterojunction (HJT) Solar Cell Market by Type
6.3.2 Egypt Heterojunction (HJT) Solar Cell Market by Application
6.4 South Africa Heterojunction (HJT) Solar Cell Market
6.4.1 South Africa Heterojunction (HJT) Solar Cell Market by Type
6.4.2 South Africa Heterojunction (HJT) Solar Cell Market by Application
6.5 Morocco Heterojunction (HJT) Solar Cell Market
6.5.1 Morocco Heterojunction (HJT) Solar Cell Market by Type
6.5.2 Morocco Heterojunction (HJT) Solar Cell Market by Application
6.6 Chile Heterojunction (HJT) Solar Cell Market
6.6.1 Chile Heterojunction (HJT) Solar Cell Market by Type
6.6.2 Chile Heterojunction (HJT) Solar Cell Market by Application
6.7 Rest of LAMEA Heterojunction (HJT) Solar Cell Market
6.7.1 Rest of LAMEA Heterojunction (HJT) Solar Cell Market by Type
6.7.2 Rest of LAMEA 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

TABLE 1 LAMEA Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 2 LAMEA Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 3 LAMEA Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 4 LAMEA Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 5 LAMEA Bifacial Cell Market by Country, 2020 - 2023, USD Million
TABLE 6 LAMEA Bifacial Cell Market by Country, 2024 - 2031, USD Million
TABLE 7 LAMEA Monofacial Cell Market by Country, 2020 - 2023, USD Million
TABLE 8 LAMEA Monofacial Cell Market by Country, 2024 - 2031, USD Million
TABLE 9 LAMEA Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 10 LAMEA Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 11 LAMEA Residential Market by Country, 2020 - 2023, USD Million
TABLE 12 LAMEA Residential Market by Country, 2024 - 2031, USD Million
TABLE 13 LAMEA Commercial Market by Country, 2020 - 2023, USD Million
TABLE 14 LAMEA Commercial Market by Country, 2024 - 2031, USD Million
TABLE 15 LAMEA PV Power Station Market by Country, 2020 - 2023, USD Million
TABLE 16 LAMEA PV Power Station Market by Country, 2024 - 2031, USD Million
TABLE 17 LAMEA Heterojunction (HJT) Solar Cell Market by Country, 2020 - 2023, USD Million
TABLE 18 LAMEA Heterojunction (HJT) Solar Cell Market by Country, 2024 - 2031, USD Million
TABLE 19 Brazil Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 20 Brazil Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 21 Brazil Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 22 Brazil Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 23 Brazil Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 24 Brazil Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 25 Argentina Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 26 Argentina Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 27 Argentina Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 28 Argentina Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 29 Argentina Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 30 Argentina Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 31 Egypt Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 32 Egypt Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 33 Egypt Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 34 Egypt Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 35 Egypt Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 36 Egypt Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 37 South Africa Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 38 South Africa Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 39 South Africa Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 40 South Africa Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 41 South Africa Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 42 South Africa Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 43 Morocco Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 44 Morocco Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 45 Morocco Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 46 Morocco Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 47 Morocco Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 48 Morocco Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 49 Chile Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 50 Chile Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 51 Chile Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 52 Chile Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 53 Chile Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 54 Chile Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 55 Rest of LAMEA Heterojunction (HJT) Solar Cell Market, 2020 - 2023, USD Million
TABLE 56 Rest of LAMEA Heterojunction (HJT) Solar Cell Market, 2024 - 2031, USD Million
TABLE 57 Rest of LAMEA Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2023, USD Million
TABLE 58 Rest of LAMEA Heterojunction (HJT) Solar Cell Market by Type, 2024 - 2031, USD Million
TABLE 59 Rest of LAMEA Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2023, USD Million
TABLE 60 Rest of LAMEA Heterojunction (HJT) Solar Cell Market by Application, 2024 - 2031, USD Million
TABLE 61 Key Information – Reliance Industries Limited
TABLE 62 Key Information – Jinneng Clean Energy Technology Ltd.
TABLE 63 Key Information – Anhui Huasun Energy Co., Ltd.
TABLE 64 Key Information – Jiangsu Akcome Science and Technology Co., Ltd.
TABLE 65 Key Information – Canadian Solar Inc.
TABLE 66 Key Information – RISEN ENERGY Co., LTD.
TABLE 67 Key Information – Meyer Burger Technology AG
TABLE 68 Key Information – Enel S.p.A

List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Heterojunction (HJT) Solar Cell Market, 2020 – 2031, USD Million
FIG 3 Key Factors Impacting Heterojunction (HJT) Solar Cell Market
FIG 4 Porter’s Five Forces Analysis – Heterojunction (HJT) Solar Cell Market
FIG 5 LAMEA Heterojunction (HJT) Solar Cell Market share by Type, 2023
FIG 6 LAMEA Heterojunction (HJT) Solar Cell Market share by Type, 2031
FIG 7 LAMEA Heterojunction (HJT) Solar Cell Market by Type, 2020 - 2031, USD Million
FIG 8 LAMEA Heterojunction (HJT) Solar Cell Market share by Application, 2023
FIG 9 LAMEA Heterojunction (HJT) Solar Cell Market share by Application, 2031
FIG 10 LAMEA Heterojunction (HJT) Solar Cell Market by Application, 2020 - 2031, USD Million
FIG 11 LAMEA Heterojunction (HJT) Solar Cell Market share by Country, 2023
FIG 12 LAMEA Heterojunction (HJT) Solar Cell Market share by Country, 2031
FIG 13 LAMEA Heterojunction (HJT) Solar Cell Market by Country, 2020 - 2031, USD Million
FIG 14 SWOT Analysis: Reliance Industries Limited
FIG 15 SWOT Analysis: Enel S.p.A