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Solar Power Market In US To Grow By USD 16.41 Billion From 2022 To 2027, Abengoa SA, Acciona SA, Avantus LLC, To Be Key Market Companies- Technavio
By PR Newswire
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NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The solar power market in US is expected to grow by USD 16.41 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 10.24% during the forecast period. The solar power market in US is fragmented due to the presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified companies. The global off-grid solar power market in US is expected to grow rapidly during the forecast period due to the Rise in investments in renewable energy. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the market's competitive landscape and offers information on several market companies. Abengoa SA, Acciona SA, Avantus LLC, BrightSource Energy Inc., Canadian Solar Inc., Earthlight Technologies LLC, Envinity, First Solar Inc., Fun In The Sun Pool Heating Inc., Hanwha Corp., M. A. Mortenson Co., Nextera Energy Inc., Porter Electric LLC, Posigen Solar, Professional Solar Products, SOLV Energy, Southern Exposure Solar, Star Solar Specialists LLC, SunPower Corp., and Trina Solar Co. Ltd. To find a preview of the market overviews, market drivers, opportunities, and growth potentials, request a FREE sample report
Major Companies and Key Offerings
- Abengoa SA - The company offers solar power technologies through the tower and parabolic troughs.
- Canadian Solar Inc. - The company offers solar power services such as Utility 71 solar plant and Utility 13.8 solar plant.
Solar Power Market In US 2023-2027: Segmentation Analysis
By Technology
The photovoltaic systems segment is estimated to witness significant growth during the forecast period. A photovoltaic system is basically a power supply system designed to provide usable solar energy using photovoltaics. It consists of several components, such as solar panels, to absorb and convert sunlight into electricity. Furthermore, it includes a solar inverter to convert the output from DC to AC as well as mounting, wiring, and other electrical accessories to build a working solar system. The increasing adoption of solar energy systems is driven by the growing interest in renewable energy sources to reduce carbon emissions and by the falling prices of photovoltaic systems. Demand for photovoltaic systems is expected to increase in the coming years due to factors such as cost reductions due to several government initiatives and subsidies as well as the procurement process. Hence, these factors are expected to drive market growth during the forecast period.
- Technology
- Photovoltaic systems
- Concentrated solar power systems
- Application Outlook
- Utility
- Residential
- Commercial
To know additional highlights and key points on various market segments and their impact in coming years, Get a FREE Sample Report.
Imperative Insights on the following aspects:
- What was the size of the solar power market in US by value?
- What will be the size of the solar power market in US in 2027?
- How has the industry performed over the last 5 years?
- What factors are affecting the strength of competition in the solar power market in US?
- What main segments make up the solar power market in US?
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Technology
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
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SOURCE Technavio
First published on Fri, Sep 15, 2023
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