Solar Panel Manufacturing in the US - Industry Market Research Report

Hot stuff: Manufacturers will continue to benefit from greater international demand

Solar panel manufacturers, which produce solar modules and cells in the United States, faced strong revenue growth. The industry has long been plagued by import penetration, specifically from Asian products, which flooded the US market with low-cost solar modules and cells. Rising tensions between the United States and China, which subsided once tariffs were imposed, but ultimately led to plummeting imports. Domestic manufacturers benefited tremendously from less competition and were enabled to raise prices. The current period's strong performance is directly linked to a continued public sentiment shift in favor of renewable energy, which will continue to accelerate given the agenda of the Biden administration. Overall, industry revenue grew at a CAGR of 18.1% to $9.7 billion, rising 10.2% in 2023 alone.

Operators in this industry manufacture solar panels and solar cells and supply these products to solar panel installers and downstream residential, commercial and utility customers. This industry does not include solar cells or solar panels manufactured abroad by US companies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.