Market Research Report
Residential Solar Energy
|Published by||Global Industry Analysts, Inc.||Product code||941180|
|Published||Content info||184 Pages
Delivery time: 1-2 business days
|Residential Solar Energy|
|Published: April 1, 2021||Content info: 184 Pages||
Global Residential Solar Energy Market to Reach $53 Billion by 2027
Amid the COVID-19 crisis, the global market for Residential Solar Energy estimated at US$2.5 Billion in the year 2020, is projected to reach a revised size of US$53 Billion by 2027, growing at aCAGR of 54.9% over the period 2020-2027. Residential Solar Li-Ion Battery, one of the segments analyzed in the report, is projected to record 58.2% CAGR and reach US$30.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Residential Solar Lead-Acid Battery segment is readjusted to a revised 51.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $659.6 Million, While China is Forecast to Grow at 65.1% CAGR
The Residential Solar Energy market in the U.S. is estimated at US$659.6 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.9 Billion by the year 2027 trailing a CAGR of 65.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 44.3% and 50.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 47.4% CAGR.
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