North America PV Module Market was valued at USD 13 Billion in 2022 and is projected to reach USD 19 Billion by 2030, growing at a CAGR of 5.1% from 2024 to 2030.
The demand for photovoltaic (PV) modules in North America has seen substantial growth in recent years, driven by the increasing push towards renewable energy and sustainability. With industries looking for cleaner alternatives to power their operations, PV modules have emerged as a key solution to meet the growing need for solar energy. As governments and corporations focus on reducing carbon emissions, the PV module market is anticipated to expand further across various sectors, including residential, commercial, and industrial applications.
One of the key industries fueling the demand for PV modules in North America is the residential sector. Homeowners are increasingly adopting solar panels to lower energy costs and reduce their carbon footprint. The growing accessibility of government incentives and subsidies has also made solar energy more affordable, driving adoption. In parallel, the commercial sector is witnessing a rise in solar installations, as businesses look to reduce operational costs and enhance sustainability credentials.
Industries in the manufacturing, agriculture, and energy sectors are also placing higher demands on PV technology. Manufacturers are investing in solar-powered systems to optimize energy consumption, reduce reliance on traditional power grids, and meet sustainability targets. The agricultural sector is increasingly using solar solutions to power irrigation systems, livestock facilities, and greenhouses, with the added benefit of reducing operating expenses. Furthermore, energy utilities are incorporating PV modules into their power generation portfolios to contribute to the diversification of energy sources and ensure a cleaner grid.
As a result, North America's PV module market is continuously evolving. The growing trend toward clean energy adoption, coupled with technological advancements in PV modules, is creating new business opportunities for manufacturers and suppliers. Key market players are focusing on improving the efficiency and affordability of PV modules while exploring innovative solutions for large-scale installations in utility and industrial applications.
Ultimately, the North America PV Module Market is set to play a pivotal role in the region's transition to a more sustainable energy future.
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Jinko Solar
GCL-Poly Energy Holdings
Canadian Solar
First Solar
Renesola
Trina Solar
Leonics Company
AE Solar GmbH
Itek Energy
Wuxi Suntech Power
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America PV Module Market
Residential
Commercial
Industrial
Based on Types the Market is categorized into Below types that held the largest PV Module market share In 2023.
Ground Mounted
Pole Mounted
Rooftop
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America PV Module Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America PV Module Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America PV Module Market, By Type
6. North America PV Module Market, By Application
7. North America PV Module Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America PV Module Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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