United States Monocrystalline Solar Cell Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The global monocrystalline solar cell market is expected to grow at a significant CAGR during the forecast period (2024-2031).

Key Development:

United States: Recent Industry Developments

✅ In August 2025, Array Technologies acquired APA Solar, a provider of solar racking and foundation solutions catering to commercial and utility-scale projects, for $179 million. This strategic acquisition strengthens Array's position as a global leader in renewable energy infrastructure and expands its product portfolio to better serve the evolving needs of the solar industry.

✅ In July 2025, the average price of solar panels used in distributed generation projects in the U.S. reached $0.27/W, reflecting a decrease from earlier in the year. This price reduction is expected to make solar energy more accessible to a broader range of consumers.

✅ In June 2025, the U.S. solar industry installed 10.8 GW of capacity in the first quarter, marking a significant increase in renewable energy adoption. This growth underscores the nation's commitment to expanding its clean energy infrastructure.

✅ In March 2025, Corning partnered with U.S. solar manufacturers Suniva and Heliene to produce the first solar panel made entirely of American-made components. This collaboration aims to strengthen the U.S. solar manufacturing sector and enhance energy security.

✅ In March 2025, Mission Solar Energy announced an investment of $265 million to add 2 GW of solar cell production capacity at its San Antonio, TX campus. This expansion is part of Mission Solar's efforts to increase its manufacturing capabilities and meet the growing demand for solar energy in the United States.

Japan: Recent Industry Developments

✅ In October 2025, Japan opened bidding for a six-year R&D project focused on tandem perovskite solar cells, aiming to accelerate commercialization and enhance performance. The project seeks to establish high-yield, high-throughput production processes and conduct real-world testing.

✅ In August 2025, Japan unveiled the world's first solar super-panel, significantly more powerful than 20 nuclear reactors. This breakthrough technology is expected to play a crucial role in Japan's renewable energy future.

✅ In February 2025, Japan announced a $1.5 billion investment in ultra-thin perovskite solar panels, aiming to reduce reliance on imports and enhance energy security. This initiative is part of Japan's strategy to achieve up to 50% renewable energy in its electricity mix by 2040.

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A monocrystalline solar cell is a photovoltaic device made from a single crystal of silicon, offering high efficiency and long-term durability. It is widely used in residential, commercial, and utility-scale solar installations for reliable energy generation.

Key Players:

=> First Solar, SunPower Corporation, Jinko Solar, Trina Solar, FuturaSun, Panasonic, Suniva Inc, SHARP CORPORATION, ALPS Technology, and c., Solaris Technology Industry Inc.

Growth Forecast Projected:

The Global Monocrystalline solar cell Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Monocrystalline solar cell Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Technology: Crystalline Silicon Cells, Thin-Film Cells, Ultra-Thin Film Cells

➥ By Grid Type: On-Grid, Off-Grid, Hybrid System

➥ By Installation: Ground-Mount, Rooftop Solar PV

➥ By Application: Commercial, Residential, Industrial, Utility, Others

Regional Analysis for Monocrystalline solar cell Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Monocrystalline solar cell producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Monocrystalline solar cell revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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