DUBLIN – (BUSINESS WIRE) – the report “North America Solar Power Equipment Market Size, Share & Industry Trends Analysis Report By Equipment, By Application, By Country and Growth Forecast, 2021-2027” has been added to ResearchAndMarkets.coms to offer .
The market for solar energy equipment in North America is expected to witness a market growth of 10.4% CAGR during the forecast period (2021-2027).
The solar power industry’s technology is constantly improving, and this trend is expected to continue in the future. Advances in quantum physics and nanotechnology have the potential to improve the efficiency of solar panels. The solar panel market has an enormous development potential, and solar energy is predicted to be the most dominant energy source in the future. Installations of solar energy systems in commercial as well as residential applications are on the rise, creating lucrative growth prospects in the market. Another important factor is the emphasis on reducing CO2 emissions. Solar energy can increase the production of green energy and at the same time conserve natural gas and coal sources that are rapidly reduced. As a result, governments around the world are promoting renewable energy sources and encouraging widespread use of solar cell systems, which is driving growth in the solar panel market.
Solar energy can also be used during a drought or a heat wave. Natural gas, coal and nuclear power use a lot of water to cool down. Power generation is at risk during heat waves and severe droughts, as we have seen in recent years. Solar energy systems, on the other hand, do not need water to produce electricity. Solar power also produces jobs in renewable energy.
In the United States, solar energy is more economical, accessible and widespread than it has ever been. According to the Office of Energy Efficiency & amp; Renewable energy, the solar energy capacity in the USA has increased from 0.34 GW in 2008 to the expected 97.2 GW now. This is enough energy to power 18 million American homes. Solar energy, in the type of solar energy and concentrated solar energy, provides over 3% of all electricity in the United States. Typically, the cost of solar panels has dropped by about 70% since 2014. Solar energy markets are growing rapidly across the country, as solar energy is already cost-competitive with traditional energy sources in several states. Hopefully, despite government funding cuts to the EPA and DOE, this trend will continue as innovative and forward-looking companies embrace the changing landscape of energy production and the transition to renewable energy.
The US market dominated the North American market for solar energy equipment by country in 2020, and is expected to continue to be a dominant market until 2027; thus achieving a market value of $ 33,167.7 million by 2027. The Canadian market is ready to grow with a CAGR of 12.9% during (2021 – 2027). In addition, the Mexican market is expected to show a CAGR of 11.9% during (2021 – 2027).
Chapter 1. Market Scope & amp; Methodology
2.1.1.1 Market composition and scenario
2.2 Key factors affecting the market
Chapter 3. Competition Analysis – Global
3.2 Recent industry-wide strategic development
3.2.1 Partnerships, cooperation and agreements
3.2.2 Product launches and product extensions
3.3.1 Important leading strategies: Percentage distribution (2017–2021)
3.3.2 Key strategic features: (Product launches and product expansions: 2020, Feb – 2022, February) Leading players
Chapter 4. North America Solar Power Equipment Market by Equipment
4.1 North America solar panel market by country
4.2 North America assembly, shelving & amp; Tracking system market by country
4.3 North America storage system Market by country
4.4 North America Second market by country
Chapter 5. North America Solar Energy Equipment Market by Application
5.1 North America utility market by country
5.2 North America’s housing market by country
5.3 North America labor market by country
Chapter 6. North America Solar Power Equipment Market by Country
6.1 US Solar Equipment Market
6.2 Canada’s Solar Equipment Market
6.3 Mexico Solar Power Equipment Market
6.4 The rest of the North American solar energy equipment market
For more information on this report, visit https://www.researchandmarkets.com/r/opq6aw
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