Solar PV Mounting Systems Market by Technology and Geography - Forecast and Analysis 2022-2026

The solar PV mounting systems market share is expected to increase by USD 5.43 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.51%.

This solar PV mounting systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (fixed and tracking) and geography (APAC, Europe, North America, South America, and MEA). The solar PV mounting systems market report also offers information on several market vendors, including Clenergy (Xiamen) Technology Co. Ltd., IronRidge Inc., K2 Systems LLC, Land Power Solar Technology Co. Ltd., Mounting System GmbH, Nuevosol Energy Pvt. Ltd., Pennar Industries Ltd., RBI Solar Inc, Schletter Solar GmbH, and Unirac Inc. among others.

What will the Solar PV Mounting Systems Market Size be During the Forecast Period?

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Solar PV Mounting Systems Market: Key Drivers and Trends

The supportive government policies are notably driving the solar PV mounting systems market growth, although factors such as the increasing number of alternative energy sources may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the solar PV mounting systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Solar PV Mounting Systems Market Driver

One of the key factors driving growth in the solar PV mounting systems market is the supportive government policies. The use of alternative energy sources is necessary to reduce greenhouse gas (GHG) emissions. Various governments across the world support the adoption of solar PV systems by providing incentives, subsidies, and tax benefits to producers and consumers. In the US, the investment tax credit (ITC) is an important federal policy developed to support the adoption of solar PV energy in the country. According to the new legislation passed in December 2020, the ITC provides a 26% tax credit for solar PV systems to be installed during 2020-2022 and 22% for systems to be installed in 2023. Many countries are formulating policies to promote the development and adoption of solar power technologies. One such notable example is the FiT policy, which is formulated to encourage investments in renewable energy technologies. Many end-users such as industries and automotive are embracing alternative forms of energy and are slowly discarding power generation using fossil fuels. The growing penetration of solar PV, with the supportive government policies, will add to the deployment of solar PV mounting systems.

Key Solar PV Mounting Systems Market Challenge

The increasing number of alternative energy sources will be a major challenge for the solar PV mounting systems market growth during the forecast period. China, the US, and India are the growing wind energy markets in terms of energy production. Additionally, many countries prefer using fossil fuels rather than renewable energy. This is because of the abundant availability of fossil fuels to generate electricity. The cost of establishing renewable energy farms for power production is expensive, and the power output from renewable sources is not at par with the output from fossil fuels. Thus, the preference for non-renewable energy sources is high in the market. Among renewables, solar PV energy faces competition from hydropower, fuel cells, and wind power. In 2019, the solar power generation capacity accounted for around one-fifth of the total cumulative renewable energy generation capacity, whereas hydropower accounted for more than half of the cumulative capacity and wind power accounted for around one-fourth of the capacity. Thus, the availability of substitutes for solar PV systems for energy generation may hinder the deployment of solar PV mounting systems.

This solar PV mounting systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Solar PV Mounting Systems Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Clenergy (Xiamen) Technology Co. Ltd.
• IronRidge Inc.
• K2 Systems LLC
• Land Power Solar Technology Co. Ltd.
• Mounting System GmbH
• Nuevosol Energy Pvt. Ltd.
• Pennar Industries Ltd.
• RBI Solar Inc
• Schletter Solar GmbH
• Unirac Inc.

 

This statistical study of the solar PV mounting systems market encompasses successful business strategies deployed by the key vendors. The solar pv mounting systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The solar PV mounting systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Solar PV Mounting Systems Market?

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63% of the market's growth will originate from APAC 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 solar PV mounting systems 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 vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Solar PV Mounting Systems Market?

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The solar PV mounting systems market share growth by the fixed segment will be significant during the forecast period. Fixed solar mounting systems are simple in structures and thus cost less than other mountings. They are easy to install and maintain; thus, there has been a growing demand for fixed solar mounting systems. The increasing number of solar power projects globally will encourage manufacturers to invest in R&D activities to develop low-cost and reliable solar PV, which will propel the growth of the segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the solar PV mounting systems market size and actionable market insights on post COVID-19 impact on each segment.

 

Solar PV Mounting Systems Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 10.51%
Market growth 2022-2026	$ 5.43 billion
Market structure	Fragmented
YoY growth (%)	9.94
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 63%
Key consumer countries	China, US, Vietnam, Japan, and Australia
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Clenergy (Xiamen) Technology Co. Ltd., IronRidge Inc., K2 Systems LLC, Land Power Solar Technology Co. Ltd., Mounting System GmbH, Nuevosol Energy Pvt. Ltd., Pennar Industries Ltd., RBI Solar Inc, Schletter Solar GmbH, and Unirac Inc.
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 the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Solar PV Mounting Systems Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive solar PV mounting systems market growth during the next five years
• Precise estimation of the solar PV mounting systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the solar PV mounting systems industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solar PV mounting systems market vendors

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