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North America Residential Solar PV Market Share

Report ID: GMI8728
Published Date: Mar 2024
Report Format: PDF

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North America Residential Solar PV Market Share

North America Residential Solar PV Company Market Share

Canadian Solar, Trina Solar, JA SOLAR Technology Co., Ltd., Jinko Solar and REC Solar Holdings AS holds majority of the industry share. Partnerships, collaborations, and strategic alliances are instrumental in addressing market challenges, leveraging complementary strengths, and pursuing mutual growth opportunities. Emergence of new market players, including solar installers, manufacturers, and technology startups drive the competition and innovation in the industry, thereby driving the product demand.

North America Residential Solar PV Market Companies

Key market players operating across the North America residential solar PV industry include:

Canadian Solar
EMMVEE SOLAR
GCL (Group) Holdings Co., Ltd.
Gridscape
JA SOLAR Technology Co., Ltd.
Jinko Solar
LG Electronics
LONGi
Q CELLS
REC Solar Holdings AS
Solaria Corporation
SunPower Corporation
Trina Solar
Vikram Solar Ltd.
Yingli Solar

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size for residential solar PV in North America reached USD 6.2 billion in 2023 and is set to record a CAGR of 6.1% through 2032, led by rising awareness amongst homeowners regarding the financial and environmental benefits of solar power.

The on-grid residential solar PV segment held a decent market share in North America in 2023 and is projected to surpass USD 9 billion by 2032, driven by increasing energy costs and growing requirement for long-term savings along with ability to provide reliable source of power and grid stability.

U.S. market held a robust revenue share in 2023 and is poised to reach over USD 9.5 billion by 2032, driven by rising investment to promote product installation, coupled with government incentives and supportive policies.

Canadian Solar, EMMVEE SOLAR, GCL (Group) Holdings Co., Ltd., Gridscape, JA SOLAR Technology Co., Ltd., Jinko Solar, LG Electronics, LONGi, and Q CELLS are some of the major industry contenders.