Market Overview
The global solar PV mounting systems market is expected to grow from USD 13,368.31 million in 2022 to USD 24,026.70 million by 2030, at a CAGR of 7.60%. The growth of the market is attributed to the increasing demand for renewable energy, government initiatives promoting solar energy adoption, and declining solar panel costs.
Solar PV mounting systems are structures used to support and secure solar panels. They are available in a variety of types, including rooftop mounted, ground-mounted, and solar carports. The type of mounting system required depends on the installation site and the size and weight of the solar panel system.
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.
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 Photovoltaic mounting solutions market is segmented as North America, Europe, Asia-Pacific, and the Rest of the World.
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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