Solar Appliances Market Share

North America Market Forecast

North America industry is poised to hold largest revenue share of 35% by 2037. The solar appliances market growth is the rising application of solar appliances such as solar panels and solar equipment in the region, followed by the lucrative federal tax credit incentives initiated by the government of the United States. Also, the presence of production facilities and the availability of funds for the production of solar appliances is aiding the growth in the market value.

APAC Market Analysis

The solar appliances market share of the Asia Pacific solar appliances market is estimated to garner 28% share by the end of the forecasted period. The rapid urbanization and industrialization in the region are estimated to bring opportunities for the utilization of solar appliances. In addition, the growing awareness level about the advantages of solar appliances in saving the environment is also estimated to positively contribute to an increment in market value.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of comprehensive metabolic panel testing is assessed at USD 81.19 billion.

The solar appliances market size was over USD 72.44 billion in 2024 and is projected to reach USD 450.77 billion by 2037, growing at around 15.1% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for an uninterrupted supply of electricity and the rise in the use of electricity will drive the market growth.

North America industry is poised to hold largest revenue share of 35% by 2037, due to rising application of solar appliances such as solar panels and solar equipment in the region

The major players in the market are Canadian Solar Inc., FTC Solar, Inc., The Solaria Corporation, SunPower Corporation, Trina Solar Co., Ltd, LG Electronics Inc., REC Solar EMEA GmbH, Hanwha Q CELLS GmbH, First Solar, Inc., Jinko Solar.

Solar Appliances Market Share