The North America Flexible Solar Panels Market would witness market growth of 6.8% CAGR during the forecast period (2021-2027).
Flexible solar panels provide a solution to the most basic requirements of human beings, for example, mobility. The desire for comfort and convenience gives rise to necessities. Flexible solar panels have arrived as a godsend to the modern world, which relies on electricity. These solar panels are adaptable, and as a result, they are in high demand nowadays. Flexible solar panels are easily transportable and may be folded and transported to any location. These panels can also be employed with digital cameras, laptops, phones, mp3 players, and a variety of other devices that people use on a daily basis. They also come in a variety of sizes, ranging from 5W to 50W.
Due to their lower efficiency, solar arrays produced from these panels usually require an increased space when compared to traditional solar panels. They have limited lives and were first utilized in a solar-powered calculator, which is primarily used by office workers and children. They're now being utilized in many complex networks and have various applications in the construction of solar farms, integrated systems, and next-generation cars.
In the United States, solar electricity is more economical, accessible, and widespread than it has ever been. Solar power capacity in the United States has grown from 0.34 GW in 2008 to approximately 97.2 GW now. This amount of energy is capable of supplying power to 18 million ordinary American homes. Solar energy, in the form of solar photovoltaics (PV) and concentrating solar-thermal power, now provides over 3% of all electricity in the United States (CSP).
The average cost of a solar PV panel has decreased by about 70% since 2014. Solar energy markets are rapidly growing across the country since solar electricity is already cost-competitive with traditional energy sources in most of the states. The United States was the second-largest market in 2019 In terms of cumulative and yearly PV installations.
The US market dominated the North America Flexible Solar Panels Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $143.9 Million by 2027. The Canada market is poised to grow at a CAGR of 9.2% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 8.3% during (2021 - 2027).
Based on Type, the market is segmented into Copper Indium Gallium Selenide, Cadmium Telluride, Amorphous Silicon and Others. Based on Application, the market is segmented into Industrial, Residential, Aerospace, Automobile, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Flexible Solar Panels Market is Estimated to reach $716.5 Million by 2027, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hanergy Holding Group Ltd., Enecom Srl, Flisom AG, PowerFilm Solar, Inc., SoloPower Systems, Inc., Solbian Energie Alternative Srl, Sun Harmonics co. ltd., Jinko Solar Holding Co., Ltd., Trina Solar Co., Ltd., and JA Solar Holdings Co., Ltd.
By Type
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