Charts & StatsSep 2, 2026

Global Solar Panels market [2015-2023] North America by Application

By Application, the market is segmented into Residential, Commercial, and Utilities (2015-2023)

Author: Wantstats Research TeamSource: Wantstats Repository

Global Solar Panels market [2015-2023] North America by Application — full underlying data
Label	Residential	Commercial	Utilities
2015	663.5 USD Mn	1527.50 USD Mn	2939.90 USD Mn
2016	800.1 USD Mn	1792.20 USD Mn	3520.10 USD Mn
2017	965.3 USD Mn	2103.60 USD Mn	4216.00 USD Mn
2018	1167.10 USD Mn	2474.50 USD Mn	5059.20 USD Mn
2019	1413.90 USD Mn	2916.40 USD Mn	6081.90 USD Mn
2020	1714.30 USD Mn	3440.20 USD Mn	7316.50 USD Mn
2021	2087.70 USD Mn	4076.00 USD Mn	8839.10 USD Mn
2022	2542.80 USD Mn	4830.10 USD Mn	10678.50 USD Mn
2023	3097.60 USD Mn	5724.60 USD Mn	12900.60 USD Mn

Data Source: Wantstats Repository

Market Dynamics

utilities segment accounted for the largest market share in 2016, this market is expected to reach USD 12900.60 Million in 2023 from USD 3520.10 Million in 2016. This market is projected to grow at a CAGR of 20.49% during the forecast period from 2017 - 2023. However, residential segment is the fastest growing market, which is expected to grow at a CAGR of 21.45% during the forecast period 2017 - 2023.

Research Methodology

Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.

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Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.

Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.

Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.

Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.

Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.

Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.

Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Global Solar Panels market [2015-2023] North America by Application

North America Solar Panels Market By Application Forecast (2015-2023)

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