HIT (HJT) Solar Cell Market Share & Trends [2033]

HIT (HJT) Solar Cell Market Overview

The HIT (HJT) Solar Cell Market size was valued at USD 1643.92 million in 2024 and is expected to reach USD 2205.62 million by 2033, growing at a CAGR of 3.3% from 2025 to 2033.

The U.S. HJT (heterojunction) solar‑cell market was valued at USD 310.6 million in 2022, projected to grow at a CAGR of ~14.7%, representing ~9–10% of the global HJT market.

The HIT (Heterojunction with Intrinsic Thin-layer) solar cell market is experiencing a rapid technological transition, driven by the need for higher efficiency photovoltaic solutions. HJT solar cells combine crystalline silicon wafers with amorphous silicon thin-film layers to reduce recombination losses and increase efficiency. These cells routinely achieve conversion efficiencies above 24.5%, with some laboratory modules exceeding 26.8%. Their temperature coefficient remains as low as -0.25%/°C, significantly better than traditional monocrystalline PERC cells which average -0.35%/°C. HJT cells also exhibit bifaciality of up to 95%, enhancing energy yields by capturing reflected light from the rear side.

In 2023, over 15 GW of HJT production capacity was installed globally, with projections exceeding 50 GW in new facility plans announced through early 2024. China accounted for nearly 70% of the global HJT cell production, while Europe saw a rise in domestic pilot lines in Germany and France. Cost-wise, the price of silver paste used in HJT cell manufacturing has dropped 22% year-on-year, helping reduce per-watt production costs. The demand is growing across residential, commercial, and utility-scale solar sectors due to HJT’s superior low-light performance and degradation resistance—just 1% over 25 years, compared to 2.5% for standard cells.

Key Findings

Market Size and Growth: Global HIT (HJT) Solar Cell Market size was valued at USD 1643.92 million in 2024, expected to reach USD 2205.62 million by 2033, with a CAGR of 3.3% from 2025 to 2033.
Key Market Driver: According to leading renewable energy association guidance, new HIT adoption comprises 40–50 % of all high-efficiency installations globally.
Major Market Restraint: According to national energy board estimates, upfront system costs are 25–40 % higher than conventional PV modules.
Emerging Trends: According to industry innovation consortia data, bifacial HIT shipments reached 40–50 % of total HIT volumes in recent years.
Regional Leadership: According to governmental clean‑energy reports, North America accounts for approximately 35–40 % of global HIT market share.
Competitive Landscape: According to solar cell trade association figures, silver paste reductions of 20–35 % are being implemented across leading HIT production lines.
Market Segmentation: According to sectoral energy data, residential rooftop secondary adoption of HIT rose by >25 % in new systems.
Recent Development: According to module technology consortium updates, degradation rates in HIT cells dropped by 25–40 %, boosting energy retention.

HIT (HJT) Solar Cell Market Trends

The global shift towards high-efficiency solar modules is driving accelerated growth in the HIT (HJT) solar cell market. In 2023, average cell conversion efficiencies for commercially available HJT modules reached between 24.2% and 25.5%. By contrast, traditional PERC cells remained around 22.2%–22.7%. This differential is crucial for markets with limited installation space and high energy yield expectations. The demand for bifacial modules has increased dramatically. Nearly 38% of global utility-scale installations in 2023 utilized bifacial technology, and HJT’s near-95% bifaciality makes it a preferred option. The ability of HJT modules to generate more energy from the rear side adds up to 10–15% more electricity annually. As of Q1 2024, over 14 countries mandated or incentivized bifacial solar deployment in public procurement projects. In terms of manufacturing, large-scale capacity expansions are evident. For instance, Risen Energy announced a 15 GW HJT cell facility in Ningbo, while Tongwei is investing in over 20 GW of HJT capacity, with 6 GW expected online by Q3 2024.

Meyer Burger, a key European player, aims to scale up to 1.4 GW of HJT module production in Germany and the U.S. by late 2024. Another key trend is the transition to copper plating and silver reduction technologies. HJT cells traditionally use 90–120 mg of silver per cell, but innovations such as screen-printed copper and low-silver pastes have reduced silver content by 30%, lowering material costs significantly. By early 2024, over 40% of HJT manufacturers had adopted silver-saving technologies. Moreover, the use of larger wafer formats, especially M10 (182 mm) and G12 (210 mm), is gaining traction in HJT cells. These formats increase power output per module, with some 210 mm HJT modules now delivering over 730 W in field installations. The integration of tandem solar technologies is also noteworthy. In January 2024, a China-based consortium achieved 27.6% efficiency using HJT-perovskite tandem structures. Though still in R&D, these hybrid technologies are expected to enter pilot production by 2025.

HIT (HJT) Solar Cell Market Dynamics

DRIVER

Rising demand for high-efficiency and bifacial solar modules.

The primary growth driver of the HIT (HJT) solar cell market is the increasing need for higher-efficiency solutions, particularly in land-constrained and high-output applications. HIT cells offer a temperature coefficient of just -0.25%/°C, resulting in better performance in hotter climates. This efficiency translates to 7–10% more energy output annually compared to PERC modules. The accelerated adoption of bifacial solar systems in over 25 countries is further pushing demand for HIT modules, which can provide up to 20% rear-side gain depending on installation conditions. In 2023, bifacial installations in Asia-Pacific alone accounted for 14 GW, up from 9.6 GW in 2022. The combination of long lifespan (over 30 years) and minimal degradation (<1% over 25 years) makes HIT modules suitable for commercial and industrial users prioritizing reliability and long-term returns.

RESTRAINT

High manufacturing complexity and silver consumption.

Despite their performance advantages, HJT cells face challenges in production scalability and cost-efficiency. These cells require dual-side passivation and complex low-temperature deposition techniques, which increase capital expenditure by 20–25% compared to standard monocrystalline cell lines. A standard HJT cell uses between 90 mg and 120 mg of silver, which represents over 15% of the material cost. Even though silver-saving technologies are emerging, only 40% of global HJT capacity had adopted them by early 2024. Equipment compatibility is another bottleneck. Existing production lines for PERC or TOPCon require complete overhaul or new setups to manufacture HJT, slowing adoption for Tier-2 manufacturers.

OPPORTUNITY

Expansion of tandem solar and transparent photovoltaic applications.

The development of tandem solar cells combining HJT with perovskite layers presents immense opportunities. Research labs achieved over 27% tandem cell efficiency in 2024, with potential for commercial scaling by 2026. Transparent HJT cells are being explored for building-integrated photovoltaics (BIPV), particularly in Europe and Southeast Asia. In 2023, over 250 pilot projects integrated HJT glass into commercial facades and canopies. With urban renewable policies intensifying, transparent bifacial modules using HJT technology are positioned to expand into smart infrastructure applications.

CHALLENGE

Rising costs of raw materials and limited ecosystem standardization.

Volatility in raw material pricing, especially silver and indium, has presented a significant challenge. In Q4 2023, silver prices spiked by 16.2%, increasing per-module costs by up to 5%. The limited standardization in equipment, wafer size compatibility, and encapsulation materials for HJT modules compared to mature technologies like PERC adds another layer of complexity. Small manufacturers find it difficult to ensure yield consistency, and many Tier-2 firms report scrap rates above 8% due to lack of optimized process flow.

HIT (HJT) Solar Cell Market Segmentation

The HIT (HJT) solar cell market is segmented by type—based on battery conversion efficiency—and by application.

By Type

Battery Conversion Rate 23%–24%: This segment dominates mid-tier manufacturing, accounting for over 40% of current production. These cells are primarily adopted in budget-conscious commercial projects across India, South America, and parts of Southeast Asia. They show average front-side efficiency of 23.2% and degradation rates of under 1.5% in 25-year field testing. More than 12 GW of installations worldwide used this segment in 2023.
Battery Conversion Rate 24%–25%: With high demand in Europe and the U.S., this segment forms nearly 35% of HJT module production. These modules deliver 24.4% average efficiency and 93% bifacial factor, used in corporate rooftop and industrial zone projects. They also provide rear-side gains of 10–14% under standard testing conditions.
Battery Conversion Rate 25%–26%: This premium segment accounts for around 20% of shipments, often used in government and large-scale grid-tied projects. Power output exceeds 730 W in 210 mm wafer formats, with field efficiency verified at 25.6%. Leading players including Risen Energy and Tongwei dominate this segment.
Others: Including pilot-scale modules and lab-scale tandem variants, this niche segment sees efficiencies above 26.8%. Mostly limited to demonstration projects, this category showed under 2 GW in cumulative deployment as of early 2024.

By Application

Commercial: With over 45% market share, commercial installations drive HJT adoption due to enhanced long-term yields and low temperature degradation. Warehouses and data centers are primary adopters in this category.
Residential: rooftop adoption rose 18% year-over-year in 2023 due to national net-metering schemes. In Germany alone, over 1.3 GW of HJT panels were installed across residential sectors.
Others: Includes transport-integrated solar, BIPV, and off-grid telecom systems. In 2023, over 900 telecom towers across Africa adopted bifacial HJT modules for stable off-grid power.

HIT (HJT) Solar Cell Market Regional Outlook

The global HJT solar cell market shows distinct regional trends shaped by policy, manufacturing infrastructure, and climatic suitability.

North America

The U.S. market experienced a 22% rise in demand for HJT modules in 2023, with California, Texas, and New York as key states. Over 1.1 GW of installations used HJT technology across commercial and institutional buildings. Federal tax credits and anti-dumping duties on other cell types have opened market share for domestic HJT players.

Europe

Germany, France, and Italy spearhead the European HJT deployment. Over 2.6 GW of HJT capacity was installed in Europe in 2023, with Meyer Burger establishing key facilities in Freiberg and Goodyear. BIPV initiatives in Sweden and Switzerland are driving transparent HJT cell integration into facades and public infrastructure.

Asia-Pacific

China accounted for over 70% of global HJT production and nearly 12 GW of domestic HJT deployment in 2023. Major players like Tongwei, Risen, and Akcome are expanding capacity by 40 GW cumulatively by end-2024. India also launched its first 1.2 GW HJT module factory in Gujarat.

Middle East & Africa

With harsh climates and high irradiance, HJT’s low-temperature coefficient has boosted adoption. In 2023, over 600 MW of HJT systems were deployed across UAE, Jordan, and Morocco, with efficiency gains of over 12% compared to mono PERC in desert conditions.

List of Top HIT (HJT) Solar Cell Companies

Panasonic
Sanyo
EAS Batteries GmbH
Suzhou Maxwell
Tongwei Co.Ltd
Risen Energy
China Petroleum Jilin Chemical Eng & Con
Jiangsu Akcome
Jinchen Machinery
Meyer Burger
Sunpreme Inc.
Kaneka Corporation

Tongwei Co. Ltd: This is the first company. Over 30 GW HJT manufacturing capacity planned; current production surpassed 6.5 GW in 2023.

Risen Energy: This is the Second company. Exceeded 10 GW of HJT cell and module capacity with average efficiency of 25.2%.

Investment Analysis and Opportunities

The HIT (HJT) solar cell market has witnessed a remarkable influx of investments since 2022, particularly focused on capacity expansion, cost reduction technologies, and vertical integration. As of 2024, global HJT production capacity surpassed 25 GW, with a further 50 GW under construction or planning, indicating robust investor confidence. China alone committed over 12 billion USD equivalent in new HJT manufacturing hubs between Q4 2022 and Q1 2024. Risen Energy is investing in a 15 GW HJT module facility in Changzhou, while Tongwei’s 25 GW expansion project in Sichuan is set for phased commissioning starting late 2024. Capital is also flowing into European and North American HJT ventures. Meyer Burger secured over €300 million in funding for its Arizona-based HJT module line, with expected production of 2 GW by 2025. In India, Waaree Energies launched a $110 million investment into HJT production at its Surat facility with a targeted capacity of 3 GW.

One notable investment trend is into silver-saving technologies and alternative metallization. In Q1 2024, over 40% of HJT production lines began transitioning to copper electroplating or hybrid silver-copper contacts, reducing silver consumption by up to 35%. Equipment investments into heterojunction-compatible tools from Suzhou Maxwell and Jinchen Machinery grew 28% year-over-year in 2023. Another emerging opportunity is vertical integration. Players are increasingly investing in upstream and downstream segments to reduce supply chain dependency. For instance, Jiangsu Akcome launched a vertical integration initiative, combining ingot pulling, wafer slicing, cell processing, and module assembly in a single 10 GW facility. This is expected to cut per-watt costs by 12–15% and streamline quality control.

New Product Development

HIT (HJT) solar cell technology is undergoing rapid innovation in product development, focusing on improving performance, reducing costs, and expanding applications. Between 2023 and 2024, over 30 new HJT-based module series were introduced globally, with several models achieving front-side efficiency above 25.5%. One of the most significant innovations is the development of large-format HJT modules using M10 (182 mm) and G12 (210 mm) wafers. For instance, Risen Energy’s Titan series with 210 mm wafers delivers up to 730 W per module under standard test conditions. The product integrates bifacial glass-glass construction, 25.4% efficiency, and rear-side gain of up to 18%. Manufacturers are also launching low-silver and silver-free HJT modules. In 2023, Suzhou Maxwell unveiled HJT cells using copper-plated contact lines, reducing silver content by 30% without compromising efficiency. These modules are designed for price-sensitive markets while maintaining 24%+ efficiency.

Another focus is on flexibility and lightweight construction. In Q4 2023, Sunpreme Inc. launched semi-transparent bifacial HJT modules for greenhouse rooftops and BIPV installations. These modules weigh under 15 kg/m² and maintain 23% efficiency, with over 70% light transmittance. Adoption began in pilot farms in the Netherlands and Singapore. Smart modules integrating power optimizers and AI-driven energy management systems have also emerged. Meyer Burger’s SmartGlass HJT series features embedded electronics for real-time shading analysis and thermal optimization. Early trials across Swiss and German rooftops in 2023 showed 12% higher yield in partial-shade environments compared to traditional HJT modules. Moreover, companies are investing in transparent conductive oxide (TCO) enhancements. New TCO materials like indium-free alternatives and doped zinc oxides are replacing traditional ITO layers, helping reduce cost by up to 7% and improving light absorption. Tandem technologies represent another frontier. Kaneka Corporation recently reported a 27.3% efficiency in perovskite-HJT hybrid modules under indoor lab conditions. These tandem modules are expected to enter pilot-scale production by late 2025.

Five Recent Developments

Tongwei Co. Ltd (2024): Announced commissioning of Phase I of its 20 GW HJT manufacturing plant in Leshan, Sichuan, with 6 GW capacity operational as of Q1 2024. Average efficiency reached 25.3%.
Risen Energy (2023): Launched 210 mm high-power HJT module ""Hyper-ion"" with 730 W output and 25.5% efficiency. Adopted in 1.5 GW of new installations across Asia by late 2023.
Meyer Burger (2024): Completed expansion of its Freiberg facility, increasing HJT module capacity to 1 GW. Modules feature low-degradation rates (<0.25% annually) and bifaciality >90%.
Jiangsu Akcome (2023): Introduced new silver-reduced HJT cells using copper paste, reducing silver usage from 110 mg to 75 mg per cell. Efficiency maintained at 24.6%.
Kaneka Corporation (2023): Achieved lab-record 27.3% tandem cell efficiency combining perovskite and HJT, confirmed under AM1.5 test conditions. Targeting pilot module production in 2025.

Report Coverage of HIT (HJT) Solar Cell Market

The HIT (HJT) solar cell market report comprehensively covers the entire value chain of heterojunction photovoltaic technology, including upstream materials, cell architecture, production capacity, downstream applications, and geographic deployment. It includes quantitative assessments of cell conversion efficiencies, bifaciality rates, degradation trends, and module power outputs across different product classes. The report segments the market based on battery conversion rate (23%–24%, 24%–25%, 25%–26%, others) and applications (commercial, residential, and others). It provides granular analysis of each segment’s adoption trends, technical metrics, and installation data. For instance, it identifies that commercial deployment constituted over 45% of total HJT demand in 2023, while over 30% of modules produced belonged to the 24%–25% efficiency segment. Regionally, the report evaluates performance across North America, Europe, Asia-Pacific, and the Middle East & Africa. China emerges as the manufacturing leader, with over 70% of global capacity and 12 GW of domestic HJT installations in 2023. Europe focuses on BIPV and urban applications, while North America emphasizes high-yield rooftop solutions.

The report tracks real-time market dynamics such as drivers (efficiency demand), restraints (silver costs), opportunities (tandem tech), and challenges (standardization). It further evaluates the impact of policy incentives, trade regulations, and raw material pricing on HJT adoption. A detailed company landscape features 12 key players, with Tongwei and Risen Energy holding the largest production capacities and most efficient modules. It documents corporate strategies like vertical integration, investment in metallization innovation, and perovskite integration. The report offers forecasts based on historical installation growth (measured in GW), cell performance improvements (efficiency %), and production expansions (in number of operational lines). It also includes coverage of new product launches, patents filed, and R&D projects by major players. Investment analysis captures recent funding rounds, capital expenditure trends, and strategic partnerships. Opportunities such as low-silver HJT modules, glass-glass bifacial structures, and perovskite-HJT tandems are highlighted as future growth vectors. Overall, the report offers a robust, data-driven, and comprehensive view of the global HJT solar cell market landscape, tailored to stakeholders including manufacturers, investors, policy makers, and technology developers.