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The solar PV mounting systems market size is forecast to increase by USD 10.35 billion, at a CAGR of 15.08% between 2023 and 2028. The market is experiencing significant growth, driven by supportive government policies and the emergence of zero-energy buildings. As the world transitions towards renewable energy sources, the demand for Solar PV systems is surging. Government initiatives, such as subsidies and tax incentives, are encouraging the adoption of Solar PV systems, particularly in regions with high solar irradiance. Additionally, the increasing number of alternative energy sources and the shift towards sustainable living are fueling the demand for Solar PV mounting systems. The trend towards zero-energy buildings, which aim to produce as much energy as they consume, is further boosting the market. Despite these growth factors, challenges remain, including the high initial investment costs and the need for efficient and durable mounting systems to ensure optimal energy production. Nevertheless, the long-term benefits, including energy savings and reduced carbon emissions, make Solar PV mounting systems a worthwhile investment for both residential and commercial applications.
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The market is witnessing significant growth due to the increasing adoption of Solar PV panels as a renewable energy source to reduce carbon emissions and shift away from fossil fuels. These mounting systems are essential for installing Solar PV modules on rooftops or the ground. The primary materials used in manufacturing these systems are steel, aluminum, and iron. The demand for Photovoltaic Mounting Systems is driven by the growing need for low carbon electricity and the integration of Green Hydrogen into the energy mix. The market is expected to expand due to various incentives such as tax breaks, feed-in tariffs, and subsidies offered by governments worldwide. Batteries are increasingly being integrated with Solar PV systems to store excess energy generated during peak hours for use during non-peak hours. The use of PV Modules in Solar PV systems has gained popularity due to their high efficiency and durability. The market is expected to continue its growth trajectory, providing sustainable and cost-effective energy solutions for the future.
Supportive government policies is notably driving market growth. The market is witnessing significant growth due to the increasing adoption of solar power as a renewable energy source to reduce reliance on fossil fuels and decrease carbon emissions. Solar PV panels are the primary component of this technology, and mounting systems play a crucial role in their installation. These systems can be categorized into rooftop mounted and ground-mounted, with the former being more common for residential and commercial applications, while the latter is preferred for industrial and utility-scale installations. The market is driven by various factors, including renewable energy sources' growing popularity, the need for low carbon electricity, and the increasing use of batteries, solar modules, inverters, and racking in industrial applications.
Also, the market is influenced by design and testing advancements, tax breaks, feed-in tariffs, and subsidies. Stainless steel, aluminum, and iron are commonly used materials for these mounting systems due to their durability and resistance to weather conditions. The market also includes applications in PV manufacturing, production sites, carports, handrails, luggage racks, and various types of roofs, such as flat roofs and ground mounts. Tilted installations are also gaining popularity for their efficiency in capturing solar energy. The market is expected to continue growing due to renewable portfolio standards, net metering, and the increasing demand for green hydrogen and other low carbon electricity sources. Thus, such factors are driving the growth of the market during the forecast period.
Emergence of zero-energy buildings is the key trend in the market. The market is witnessing significant growth due to the increasing adoption of solar power as a renewable energy source in place of fossil fuels. Solar PV panels are a crucial component of this transition, as they convert sunlight into electricity, reducing carbon emissions. Solar PV mounting systems are essential for securing and positioning these panels effectively for optimal energy generation. These systems can be categorized into rooftop mounted and ground-mounted, with the former being commonly used for residential and commercial applications, while the latter is preferred for industrial use and utility-scale projects. The materials used in these systems include steel, aluminum, and iron. Photovoltaic Mounting Systems play a vital role in the renewable energy sector, contributing to the production of low carbon electricity from solar modules or PV modules. They are also used in industrial applications, such as PV manufacturing production sites, carports, handrails, luggage racks, and flat roofs.
Additionally, design and testing of these systems are critical to ensure their efficiency and durability. Governments worldwide offer incentives like tax breaks, feed-in tariffs, subsidies, and renewable portfolio standards to encourage the adoption of solar power and the use of net metering to offset electricity consumption. The integration of solar power with batteries and inverters is also gaining popularity to store excess energy for later use. Greenhouse gas emissions are a significant concern, and the use of stainless steel in Solar PV Mounting Systems contributes to their long-term sustainability. The market for these systems is expected to grow further as the world transitions to a low-carbon economy. Thus, such trends will shape the growth of the market during the forecast period.
Increasing number of alternative energy sources is the major challenge that affects the growth of the market. The market is witnessing significant growth due to the increasing adoption of solar power as a renewable energy source to reduce reliance on fossil fuels and decrease carbon emissions. Solar PV panels are mounted on rooftops and ground-level structures using mounting systems made of steel, aluminum, and iron. These mounting systems support the installation of solar modules, inverters, and batteries for industrial applications and utility-scale projects.
Further, renewable Energy Sources such as photovoltaic mounting systems are essential for producing low-carbon electricity, including green hydrogen and net metering. Design and testing of these systems are crucial for ensuring their efficiency and longevity. Tax breaks, feed-in tariffs, subsidies, and renewable portfolio standards incentivize the adoption of solar power. Stainless steel mounting systems are popular due to their durability and resistance to weather conditions. Applications include residential, commercial, industrial, PV manufacturing, and production sites, as well as carports, handrails, luggage racks, and various rooftop installations, such as flat roofs, ground mounts, and tilted installations. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Clenergy (Xiamen) Technology Co. Ltd - The company offers a wide range of solar mounting gear for all kinds of solar installations, including residential, industrial and commercial and utility scale projects.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The fixed segment is estimated to witness significant growth during the forecast period. Fossil fuels have long been the primary source of electricity generation, leading to substantial carbon emissions and environmental concerns. In response, the renewable energy sector, particularly solar power, has gained significant traction as a low-carbon alternative. Solar PV panels, a crucial component of solar power generation, require robust mounting systems to optimize energy production. These mounting systems, also known as Photovoltaic Mounting Systems, can be categorized into rooftop mounted and ground-mounted types. Rooftop mounted systems are suitable for residential and commercial applications, utilizing flat rooftops or tilted installations. They are typically made of lightweight materials like aluminum and iron, making them cost-effective and easy to install. Steel is often used in industrial applications and larger ground-mounted installations due to its strength and durability. The utility industry and industrial sector are major consumers of solar power, driving the demand for large-scale solar PV installations.
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The fixed segment was the largest and was valued at USD 4.54 billion in 2018. Renewable Energy Sources, such as solar, are increasingly being prioritized in energy policies, with incentives like tax breaks, feed-in tariffs, and subsidies encouraging their adoption. Design and testing of solar PV mounting systems are crucial to ensure optimal performance and longevity. The use of advanced materials like stainless steel and innovative designs contribute to the overall efficiency and reliability of these systems. Additionally, the integration of batteries, inverters, and solar modules in these systems further enhances their functionality. The expansion of solar power and the growing emphasis on renewable energy sources have led to a surge in solar PV manufacturing and production sites. Carports, handrails, luggage racks, and various other structures have also been designed using solar PV mounting systems. The transition to a low-carbon electricity grid is a key priority, and solar PV mounting systems play a vital role in this transition. Greenhouse gas emissions are reduced, and the reliance on fossil fuels is minimized, making solar PV mounting systems an essential component of the renewable energy landscape.
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APAC is estimated to contribute 65% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China, Vietnam, and Japan are the key markets for solar PV mounting systems in APAC. Market growth in this region will be faster than the growth of the market in other regions. The financial incentive programs, such as FiTs in China, Japan, Thailand, and Vietnam will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for companies, which will assist in creating efficient business plans.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Solar PV mounting systems play a crucial role in the successful installation and operation of solar PV panels. These systems securely attach PV modules to various structures, enabling the conversion of sunlight into electricity. Solar power, as a renewable energy source, is becoming increasingly popular due to its ability to reduce carbon emission and promote low carbon electricity. Two primary types of mounting systems exist: rooftop mounted and ground-mounted. Rooftop mounting is ideal for residential and commercial applications, while ground-mounted systems are more suitable for industrial applications and utility-scale projects. Steel, aluminum, and iron are commonly used materials for manufacturing these mounting systems. The utility industry and renewable energy sources are the primary consumers of photovoltaic mounting systems.
In the industrial sector, these systems are also used in PV manufacturing and production sites, as well as for carports, handrails, and luggage racks. Design and testing, tax breaks, feed-in tariffs, and subsidies are essential factors driving the growth of the market. The integration of solar PV systems with batteries, inverters, and green hydrogen is also gaining popularity, as it enhances the overall efficiency and sustainability of the renewable energy ecosystem. Flat roofs, tilted installations, and ground mounts are popular mounting configurations, each with its unique advantages. The market is expected to grow significantly in the coming years, as the world transitions towards a low-carbon economy and reduces greenhouse gas emissions.
Market Scope |
|
Report Coverage |
Details |
Page number |
129 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.08% |
Market growth 2024-2028 |
USD 10.35 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.35 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 65% |
Key countries |
China, US, Vietnam, Japan, and Australia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arctech Solar Holding Co Ltd, Clenergy (Xiamen) Technology Co. Ltd, GameChange Solar, IronRidge Inc., K2Â Systems LLC, Land Power Solar Technology Co. Ltd., Mounting System GmbH, Nuevosol Energy Pvt. Ltd., Pennar Industries Ltd, PV Racking, RBI Solar Inc., Schletter Solar GmbH, Soltech Industries Pvt. Ltd., Tata International Ltd., Unirac Inc., Van der Valk Solar Systems BV, Versolsolar, Xiamen Corigy New Energy Technology Co. Ltd, Xiamen Grace Solar Technology Co. Ltd., and Xiamen Universe Solar Tech. Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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