US Residential Solar Market to Grow by USD 5.99 Bn: Report
The residential solar market in the US is concentrated. Vendors are deploying growth strategies such as developing new technologies to compete in the market, according to Technavio.
July 25, 2022. By News Bureau
The market size is expected to grow by USD 5.99 bn from 2020 to 2025. In addition, the growth momentum of the market will accelerate at a CAGR of 10% during the forecast period.
The residential solar market in the US is highly diverse and has many international and domestic vendors. The vendors in the market are characterized by high capital investments. The vendors in the market include producers of solar PV modules, solar inverters, solar batteries, and other BOS (Balance of System). There is intense competition among vendors to increase their market shares.
The key highlights of the residential solar market in US 2021-2022 are below:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist residential solar market growth in the US during the next five years
- Estimation of the residential solar market size in the US and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the residential solar market in the US
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of residential solar market vendors in the US
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