Solar PV Mounting Systems Market
The global Solar PV Mounting Systems Industry is experiencing significant growth, driven by the increasing adoption of solar energy as a key component of the global energy transition. Solar PV mounting systems are essential components of solar installations, providing the necessary support and alignment for solar panels to capture maximum sunlight and generate electricity efficiently. The market is characterized by a diverse range of mounting solutions, including ground-mounted, rooftop, and tracking systems, catering to various applications across residential, commercial, and utility sectors.
Ground-mounted systems are widely used in large-scale solar farms, where land availability and optimal sunlight exposure are critical factors. These systems are designed to withstand diverse environmental conditions, ensuring the durability and reliability of solar installations. Rooftop mounting systems, on the other hand, are increasingly popular in urban areas, where space is limited and solar installations need to be integrated seamlessly with existing structures. Tracking systems, which allow solar panels to follow the sun's movement throughout the day, are also gaining traction, particularly in regions with high solar irradiance.
The market is characterized by rapid technological advancements, with manufacturers developing innovative mounting solutions that enhance the performance and efficiency of solar PV systems. The use of lightweight, corrosion-resistant materials, such as aluminum and stainless steel, is a key trend, ensuring the longevity and sustainability of solar installations. Additionally, the integration of smart technologies, such as IoT-based monitoring systems, is further driving the market's growth by enabling real-time tracking and optimization of solar panel performance.
As countries around the world continue to invest in renewable energy to reduce carbon emissions and enhance energy security, the Solar PV Mounting Systems Market is expected to see sustained growth. Government incentives, favorable policies, and the declining cost of solar technology are key factors contributing to the market's expansion. With ongoing innovations and a strong focus on sustainability, the global Solar PV Mounting Systems Market is poised to play a crucial role in the future of renewable energy.
The Solar PV Mounting Systems Market Research Report Information by End-User, Technology, Product, Component, and Region - Forecast, according to the study materials from MRFR The market for solar PV mounting systems is expected to grow significantly between 2024 and 2030, at a strong compound annual growth rate of over 7.60%. According to study documents, the global market is expected to reach a market value of USD 24,026.70 million by the end of 2030, based on increasing revenue statistics.
As per the reports, the market was priced at almost USD 12,368.90 Million in 2021. The Solar PV Mounting Systems market has recently advanced. The main feature causing a rise in market performance is the growing adoption and advancement of renewable energy sources, with solar panels being among the most adopted forms of renewable energy. Furthermore, the requirement for increasing solar power generation capacity leads to a growth in the number of solar power plant construction in several nations, leading to growing demand for solar PV mounting systems market across the globe.
Competitive Analysis
- Schletter Group (Germany)
- Land Power Solar Technology Co. Ltd (China)
- Unirac Inc. (US.)
- RBI Solar Inc. (U.S.)
- SolarWorld AG (Germany)
- Mounting System GmbH (Germany)
- K2 Systems GmbH (Germany)
- Xiamen Grace Solar Technology (China)
- Esdec (Netherlands)
- Clenergy(China)
- Tata International Ltd (Switzerland)
- Xiamen Corigy New Energy Technology Co. Ltd. (China)
- Xiamen Universe Solar Technology (China)
- PV Racking (US.)
Market Drivers
The Solar PV Mounting Systems market has recently advanced. The main feature causing a rise in market performance is the growing adoption and advancement of renewable energy sources, with solar panels being among the most adopted forms of renewable energy. Furthermore, the requirement for increasing solar power generation capacity leads to a growth in the number of solar power plant construction in several nations, leading to growing demand for solar PV mounting systems market across the globe.
Market Restraints
On the contrary, various aspects may harm expanding the global market for Solar PV Mounting Systems. One of the main restraints in advancing the market's growth is the elevated prices allied with raw materials.
Segment Analysis
The global market for Solar PV Mounting Systems has been divided into several segments based on service technology, product, end-user, component, and region.
Based on the product, the global market for Solar PV Mounting Systems is split into ground and rooftop mounted.
Based on the Service Technology, the global market for Solar PV Mounting Systems is split into tracking and fixed.
Based on the components, the global market for Solar PV Mounting Systems is split into batteries, racking, inverters, PV modules (panels), and others.
Based on the end-users, the global market for Solar PV Mounting Systems is split into industrial, commercial, and residential.
Regional Analysis
The study offers market data by region for North America, Asia-Pacific, Europe, and the Rest of the World.
The study documents by MRFR entail that The Asia-Pacific Region ensured the prime position across the Solar PV Mounting Systems market in 2022, with the largest contribution of nearly USD 6,158.60 million. The regional market is anticipated to grow substantially during the assessment period at a healthy growth rate of around 7.37%. The area is recognized for dynamic development contributors such as China, India, and Indonesia. The primary aspect boosting the development of the regional Solar PV Mounting Systems market is the presence of emerging nations in the region and the growing demand for renewable energy sources. Furthermore, the rise in the demand for power because of the region's growing population and rising per capita disposable income are also likely to have a positive impact on the growth of the regional market over the coming years. In addition, the rapid adoption of clean energy with support such as policies & regulations for energy deployment, raising awareness, resource assessment, project facilitation, statistics, and data collection to enhance the deployment in Asia-Pacific.
The North American region is estimated to grow at the highest pace across the Solar PV Mounting Systems market over the assessment era. The area is recognized for dynamic development contributors such as Mexico, Canada, and the US. The primary aspect boosting the development of the regional Solar PV Mounting Systems market is the innovation and financial strength coupled with entrepreneurial spirit and skilled workforce to attain the targets for solar energy generation.
The European Region will grow substantially across the Solar PV Mounting Systems market from 2023 to 2032. The area is recognized for dynamic development contributors such as Germany, France, and the UK. The primary aspect boosting the development of the regional Solar PV Mounting Systems market is the focus on the research & development of solar energy through three main segments, namely, photovoltaics, concentrated solar power, and solar heating & cooling devices.
More Trending Reports:
Three Phase Pad Mounted Transformer
English
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Russian
Romaian
Portuguese (Brazil)
Greek