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Solar PV Mounting Systems Market Trends, Forecasts, and Competitive Analysis

Sep 29, 2023 7:04 PM ET

Solar PV Mounting Systems Market Trends, Forecasts, and Competitive Analysis

Market Overview

The Solar PV Mounting Systems Market is expected to generate revenue of around USD 24,026.70 Million during the forecast period at a CAGR of 7.60 % during the forecasted period.

The market for solar PV mounting solutions is growing. Share is based on the growth of its parent market, solar-powered electricity.

The global market for solar-powered photovoltaics increased by 26%. In the coming years, the growing interest in solar-powered PV mounting frameworks will almost certainly catalyze the interest in solar-powered PV mounting frameworks.

Legislators are aiming to limit the use of fossil fuel by-products, which has driven a shift toward renewable energy. Sunlight-based energy has become widely recognized as a valuable option for reducing carbon emissions. As a result, legislators have been encouraged to support the construction of sun-oriented mounting structures.

The growing number of solar-powered businesses, combined with government assistance, is expected to boost the sun-based solar PV mounting systems Market Trends over the forecast period.

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Solar PV Mounting Systems Market Trends

The solar PV mounting systems market is segmented into product, technology, and application. Based on product type, the market is segmented as rooftop mounted and ground-mounted. The rooftop segment is expected to offer a lucrative market for the growth of the solar PV mounting systems market. The fixed segment accounts for a sizeable amount of the market, but tracking technology is gaining importance due to its flexibility in moving solar PV panels. Industrial application is projected to offer substantial market size due to the large installation of solar PV panels by the utility industry.

The key factors driving the growth of the solar PV mounting systems market include:

  • Increasing government support for solar PV energy
  • Declining costs of solar PV panels and mounting systems
  • Growing awareness of the benefits of solar PV energy, such as reduced energy costs and environmental impact

Key Players:

  • Schletter Group (Germany)
  • Unirac Inc. (US)
  • SolarWorld AG (Germany)
  • K2 Systems GmbH (Germany)
  • Esdec (Netherlands)
  • Tata International Ltd (Switzerland)
  • Land Power Solar Technology Co. Ltd (China)
  • RBI Solar Inc. (US)
  • Mounting System GmbH (Germany)
  • Xiamen Grace Solar Technology (China)
  • Clenergy (China)
  • Xiamen Universe Solar Technology (China)
  • Xiamen Corigy New Energy Technology Co. Ltd. (China)
  • PV Racking (US)

Market Segmentation

The Solar PV Mounting Systems Market is segmented based on the Product, Technology, End-use Sector, and region.

Based on Product, the solar PV mounting systems market has been segmented as Rooftop and ground-mounted.

Based on technology, the solar PV mounting systems market has been segmented as Fixed and Tracking.

Based on end-user, the solar PV mounting systems market is segmented as Residential, Commercial, and Utilities.

Based on region, the PV module mounting solutions market is segmented as North America, Europe, Asia-Pacific, and the Rest of the World.

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Regional Classification

Asia Pacific (APAC) accounts for 43.02% of the global sun-powered PV mounting framework market and is expected to grow at a CAGR of 11.24 percent over the forecast period. The APAC region has a truly massive population that is consistently growing. As a result, there is a growing interest in cost-effective force.

Clean fuel sources are becoming increasingly appealing as support for environmentally friendly power businesses grows through powerful agreements and rules combined with mindfulness campaigns. China dominates the APAC market for solar-based photovoltaic cell production, with Japan and India trailing closely behind.

The Rest of the World is growing at the fastest rate, with Latin America driving growth in this geographical segment. In Latin America, sun-based PV frameworks are moderate and growing swiftly as a result of bets made in countries such as Chile, Mexico, and Brazil. In any event, the Middle East and Africa are likely to change dramatically because the location is often beneficial for the receipt of sun-oriented force.

After all, the majority of the area is desert and receives extended periods of daylight. The district’s sunlight-based PV mounting frameworks market is expected to be driven by a few development projects that use and incorporate solar-powered energy.

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