North America Solar Pv Panels Market Size & Outlook
North America solar pv panels market, 2018-2030 (US$M)
Related Markets
North America solar pv panels market highlights
- The North America solar pv panels market generated a revenue of USD 27,139.3 million in 2023.
- The market is expected to grow at a CAGR of 7.9% from 2024 to 2030.
- In terms of segment, thin film was the largest revenue generating technology in 2023.
- Thin Film is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 27,139.3 million |
| Market revenue in 2030 | USD 46,285.5 million |
| Growth rate | 7.9% (CAGR from 2023 to 2030) |
| Largest segment | Thin film |
| Fastest growing segment | Thin Film |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thin Film, Crystalline Silicon |
| Key market players worldwide | JinkoSolar Holding Co Ltd DR, Canadian Solar Inc, Hanwha, GCL Technology Holdings Ltd, First Solar Inc, SunPower Corp |
Other key industry trends
- In terms of revenue, North America region accounted for 15.9% of the global solar pv panels market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 158,966.8 million by 2030.
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Solar PV Panels Market Scope
Solar PV Panels Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America solar pv panels market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solar pv panels market will help companies and investors design strategic landscapes.
Thin film was the largest segment with a revenue share of 31.06% in 2023. Horizon Databook has segmented the North America solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
The regional market was led by the U.S. and Canada. Factors such as increasing environmental awareness & regulations and decreasing cost per kilowatt of electricity generated from solar energy are expected to provide a boost to the market.
However, the high cost of solar energy storage is expected to restrain the market growth. Solar cells made from thin film technology, which uses narrow coatings of cadmium telluride, have high efficiency and low cost.
This may prove to be an opportunity in the sector. In terms of application, industrial segment was dominant in 2022 and is expected to maintain its dominance over the forecast period. Power generation from solar cells in the industrial sector has increased over the years owing to increasing efficiency of solar PV panels coupled with positive government policies further propelling the market.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America solar pv panels market , including forecasts for subscribers. This continent databook contains high-level insights into North America solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America solar pv panels market size, by country, 2018-2030 (US$M)
North America Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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