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North America Solar PV Market Share
Canadian Solar, First Solar, GCL-SI, JA SOLAR Technology Co., Ltd., Jinko Solar and LG Electronics hold majority of the industry share. Solar PV manufacturers invest in research and development activities to improve the efficiency, performance, and durability of the solar PV modules and components. Collaborations between various solar PV manufacturers and local partners will support the market expansion into new geographic regions and segments. Additionally, supply agreements ensure reliable supply chain management, mitigate supply chain risks, and support the scalability of solar PV manufacturing operations.
North America Solar PV Market Companies
Major Key players operating across the solar PV industry are:
- Canadian Solar
- First Solar
- GCL-SI
- JA SOLAR Technology Co., Ltd.
- Jinko Solar
- LG Electronics
- Q CELLS
- REC Solar Holdings AS
- Solaria Corporation
- SunPower Corporation
- Trina Solar
- Vikram Solar Ltd.
What is the value of the U.S. solar PV market?
U.S. solar PV industry size to exceed USD 68.5 billion by 2032, led by the surging demand for commercially available, dependable & efficient solutions along with growing installation of rooftop solar units across establishments.
What is the size of the ground mounted solar PV market in North America?
North America ground mounted solar PV market is estimated to grow at over 5.5% CAGR up to 2032, owing to shifting consumer inclination towards cost effective clean electricity generation combined with increasing R&D efforts to drop the costs for PV systems.
Why is the demand for on grid solar PV rising in North America?
North America solar PV market from the on grid connectivity segment is projected to surpass USD 46 billion by 2032, on the account of growing adoption of improved, scalable, and cost-effective units for the development of large scale projects.
How much is the North America solar PV market worth?
The market size of North America solar PV was reached USD 29.3 billion in 2023 and is anticipated to witness 6.2% CAGR from 2024 to 2032, due to higher usage to power various electrical devices or fed into the grid for broader distribution.