Global Heterojunction HJT Solar Cells Market to Reach US$3.5 Billion by 2030

The global market for Heterojunction HJT Solar Cells estimated at US$1.5 Billion in the year 2024, is expected to reach US$3.5 Billion by 2030, growing at a CAGR of 15.7% over the analysis period 2024-2030. Bifacial Cell, one of the segments analyzed in the report, is expected to record a 14.0% CAGR and reach US$2.1 Billion by the end of the analysis period. Growth in the Monofacial Cell segment is estimated at 18.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$403.1 Million While China is Forecast to Grow at 20.5% CAGR

The Heterojunction HJT Solar Cells market in the U.S. is estimated at US$403.1 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$761.8 Million by the year 2030 trailing a CAGR of 20.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.7% and 14.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.4% CAGR.

Global Heterojunction (HJT) Solar Cells Market – Key Trends & Drivers Summarized

Why Are HJT Solar Cells Emerging as a Key Technology in the Solar Industry?
Heterojunction (HJT) solar cells are gaining significant traction in the photovoltaic (PV) market due to their superior conversion efficiency, temperature stability, and bifacial energy output compared to conventional crystalline silicon (c-Si) technologies. HJT cells combine crystalline silicon wafers with thin layers of amorphous silicon deposited on both sides of the wafer, forming high-efficiency junctions with minimal energy loss. This hybrid design maximizes carrier lifetime and open-circuit voltage, delivering performance advantages particularly in high-temperature or low-light environments.

As the global solar energy sector shifts toward ultra-high-efficiency modules and longer energy yields, HJT cells are being positioned as a next-generation technology, especially in utility-scale and high-end residential projects. With growing emphasis on levelized cost of electricity (LCOE), HJT modules offer an attractive proposition for long-term energy output, reduced degradation, and compatibility with bifacial designs that enhance energy harvesting from reflected light.

How Are Manufacturing Processes and Material Advancements Enhancing HJT Competitiveness?
While HJT cells historically faced cost and complexity barriers due to their use of advanced materials and low-temperature fabrication, recent developments are improving manufacturing scalability. Laser texturing, silver paste optimization, and thinner wafer use are reducing overall material costs. The incorporation of copper plating and screen printing techniques is helping manufacturers overcome the cost challenges of traditional silver-based metallization, making HJT more competitive with passivated emitter rear contact (PERC) and tunnel oxide passivated contact (TOPCon) technologies.

Simultaneously, advancements in transparent conductive oxide (TCO) layers and cell passivation techniques are improving efficiency and durability. HJT cells are also well suited for integration into tandem cell architectures, particularly perovskite-silicon combinations, due to their low-temperature processing compatibility. These hybrid configurations are expected to break the 30% efficiency barrier, placing HJT at the core of future innovation in solar power generation.

Which Markets and Players Are Driving the Adoption of HJT Solar Technology?
China leads in HJT cell production, with major solar manufacturers expanding capacity and shifting from PERC to high-efficiency technologies. Companies such as LONGi, Risen Energy, and Huasun are scaling up dedicated HJT production lines. Europe and Japan are also supporting HJT through R&D funding and high-performance project installations. European firms are targeting HJT for integrated PV applications such as building-integrated photovoltaics (BIPV) and agrivoltaics.

The utility-scale solar segment is expected to see rapid HJT deployment due to its higher bifacial gain and better high-temperature performance. The technology is also gaining interest in space-constrained environments, such as rooftops and urban energy projects, where higher efficiency directly translates into better energy economics. Strategic alliances between equipment manufacturers and cell producers are further strengthening the HJT value chain and accelerating commercialization.

The Growth in the HJT Solar Cells Market Is Driven by Several Factors
The growth in the HJT solar cells market is driven by increasing demand for high-efficiency solar modules, industry migration toward bifacial technologies, and the need to reduce LCOE in solar energy projects. HJT cells offer advantages such as low temperature coefficient, double-sided energy collection, and long-term stability—making them ideal for both large-scale and high-value applications. Improvements in metallization techniques and cost-effective materials are bridging the gap between high performance and affordability.

Government support for clean energy transitions, along with feed-in tariffs and performance-linked incentives, is encouraging the shift to next-gen cell technologies. The compatibility of HJT with tandem and perovskite hybrid structures also ensures future scalability beyond current silicon limitations. As solar developers seek solutions that deliver higher returns over 25+ year lifespans, HJT cells are emerging as a compelling choice in the global PV technology roadmap.