Residential Solar Market in the US to Grow by USD 5.99 billion during 2021-2025|9.68% Year-Over-Year Growth in 2021|Technavio

NEW YORK, April 15, 2021 /PRNewswire/ --

Technavio has monitored the residential solar market in the US in its latest market research report.  The market is poised to grow by USD 5.99 billion, progressing at a CAGR of over 10% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the residential solar market in the US.

Frequently Asked Questions:

• Based on segmentation by technology, which is the leading segment in the market?
  Crystalline silicon is the leading segment in the market.
• What is the major trend in the market?
  The rising number of solar PV installations is the major trend in the market.
• At what rate is the market projected to grow?
  The market is projected to accelerate at a CAGR of over 10%.
• Who are the top players in the market?
  Hanwha Group, LG Electronics Inc., Panasonic Corp., Sungevity Inc., Sunnova Energy International Inc., SunPower Corp., Sunrun Inc., Tesla Inc., Trina Solar Co. Ltd., Trinity Heating & Air Inc. are the top players in the market.
• What are the key market drivers and challenges?
  The market is driven by the increasing investments in renewable energy. However, the availability of alternative technologies will challenge growth.

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The market is concentrated, and the degree of concentration will accelerate during the forecast period. 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 some of the major market participants. Although the favorable government regulations will offer immense growth opportunities, the availability of alternative technologiesis likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this residential solar market in us forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Residential Solar Market in US 2021-2025: Segmentation

The residential solar market in the US is segmented as below:

• Technology
• Crystalline Silicon
• Thin-film

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR70400

Residential Solar Market in US 2021-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The residential solar market in the US   report covers the following areas:

• Residential Solar Market in US Size
• Residential Solar Market in US Trends
• Residential Solar Market in US Industry Analysis

This study identifies that the rising number of solar PV installations as one of the prime reasons driving the residential solar market in the US growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.

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Residential Solar Market in US 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist the residential solar market growth in the US during the next five years
• Estimation of the residential solar market size in US and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the residential solar market in the US across APAC, Europe, North America, MEA, and South America
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of residential solar market vendors in the US

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Technology

• Market segments
• Comparison by Technology
• Crystalline silicon - Market size and forecast 2020-2025
• Thin-film - Market size and forecast 2020-2025
• Market opportunity by Technology

Customer landscape

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Competitive scenario
• Vendor landscape
• Landscape disruption
• Industry risks

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Hanwha Group
• LG Electronics Inc.
• Panasonic Corp.
• Sungevity Inc.
• Sunnova Energy International Inc.
• SunPower Corp.
• Sunrun Inc.
• Tesla Inc.
• Trina Solar Co. Ltd.
• Trinity Heating & Air Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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