U.S.: Market for Solar Cells and Light-Emitting Diodes 2025

Market Size for Solar Cells and Light-Emitting Diodes in the U.S.

In 2022, after ten years of growth, there was significant decline in the U.S. market for solar cells and light-emitting diodes, when its value decreased by -95.6% to $X. Over the period under review, consumption, however, enjoyed a noticeable increase. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Production of Solar Cells and Light-Emitting Diodes in the U.S.

In value terms, solar cells and light-emitting diodes production contracted to $X in 2022. Overall, production posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 1,259% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports from the U.S.

Solar cells and light-emitting diodes exports from the United States soared to X units in 2022, increasing by 2,216% compared with the previous year's figure. In general, exports enjoyed a strong expansion. Over the period under review, the exports reached the peak figure at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, solar cells and light-emitting diodes exports surged to $X in 2022. Over the period under review, exports, however, saw a pronounced decrease. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belize (X units), the Philippines (X units) and Barbados (X units) were the main destinations of solar cells and light-emitting diodes exports from the United States, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +150.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) emerged as the key foreign market for solar cells and light-emitting diodes exports from the United States, comprising 97% of total exports. The second position in the ranking was taken by Belize ($X), with a 1.3% share of total exports. It was followed by Barbados, with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines stood at +139.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belize (+54.0% per year) and Barbados (+11.5% per year).

Export Prices by Country

The average export price for solar cells and light-emitting diodes stood at $X per unit in 2022, remaining relatively unchanged against the previous year. In general, the export price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2016 an increase of 26%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Belize ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Solar Cells and Light-Emitting Diodes

Imports into the U.S.

In 2022, after three years of growth, there was significant decline in overseas purchases of solar cells and light-emitting diodes, when their volume decreased by -97.9% to X units. Over the period under review, imports recorded a mild setback. The most prominent rate of growth was recorded in 2021 when imports increased by 5,656%. As a result, imports attained the peak of X units, and then contracted remarkably in the following year.

In value terms, solar cells and light-emitting diodes imports expanded rapidly to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -6.3% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 90% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and Malaysia (X units) were the main suppliers of solar cells and light-emitting diodes imports to the United States, together comprising 77% of total imports. Taiwan (Chinese), South Korea, Thailand and Vietnam lagged somewhat behind, together comprising a further 21%.

From 2020 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +16,008.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest solar cells and light-emitting diodes suppliers to the United States were Malaysia ($X), Vietnam ($X) and Thailand ($X), with a combined 63% share of total imports. South Korea, Japan, China and Taiwan (Chinese) lagged somewhat behind, together comprising a further 22%.

Taiwan (Chinese), with a CAGR of +38.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for solar cells and light-emitting diodes amounted to $X per unit, waning by -98.5% against the previous year. Over the period under review, the import price showed a sharp descent. The import price peaked at $X per unit in 2020, and then plummeted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2020 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-96.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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