NEW YORK, Jan. 17, 2022 /PRNewswire/ -- The Residential Solar Market value in US is set to grow by USD 5.99 billion, progressing at a CAGR of 10% from 2020 to 2025, as per the latest report by Technavio.
NEW YORK, Jan. 17, 2022 /PRNewswire/ -- The Residential Solar Market value in US is set to grow by USD 5.99 billion, progressing at a CAGR of 10% from 2020 to 2025, as per the latest report by Technavio.
The residential solar market share growth in US by the crystalline silicon segment will be significant during the forecast period. Crystalline silicon PV systems are the most widely used solar PV systems in the US. The modules of this PV system are built using crystalline silicon (c-Si) solar cells, which are highly stable, driving their demand. Also, C-Si PV system is the most widely used PV system in the residential sector due to the high-efficiency ratings and reliability of the cells.
Key Residential Solar Market in US Report Highlights:
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Key Vendors and Strategies
Hanwha Group, LG Electronics Inc., Panasonic Corp., Sungevity Inc., Sunnova Energy International Inc., SunPower Corp., Sunrun Inc., Tesla Inc., Trina Solar Co. Ltd., and Trinity Heating & Air Inc. are few of the key vendors in the Residential Solar Market in US. The market is concentrated and the vendors are deploying growth strategies such as developing new technologies to compete in the market.
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Key Market Drivers
Our analysts have extensively outlined the information on the key market drivers and their impact on the Residential Solar Market in US.
To know about a few other market drivers, trends, and challenges.
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Residential Solar Market in US Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10% |
Market growth 2021-2025 |
$ 5.99 billion |
Market structure |
Concentrated |
YoY growth (%) |
9.68 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
US at 100% |
Key consumer countries |
China, US, Japan, India, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Hanwha Group, LG Electronics Inc., Panasonic Corp., Sungevity Inc., Sunnova Energy International Inc., SunPower Corp., Sunrun Inc., Tesla Inc., Trina Solar Co. Ltd., and Trinity Heating & Air Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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