Market Size –
The solar PV mounting systems market size has grown strongly in recent years. It will grow from $24.83 billion in 2023 to $26.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increasing solar PV installations, grid integration and energy storage, environmental awareness, increasing utility-scale investments, stringent targets for solar PV system installation.
The solar PV mounting systems market size is expected to see strong growth in the next few years. It will grow to $35.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to smart and integrated solutions, urbanization and land constraints, government policies and incentives, decentralized power generation, climate change mitigation efforts. Major trends in the forecast period include artificial intelligence and automation, digital twin technology, modular and scalable designs, lightweight and flexible mounting solutions, advanced tracking systems.
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Scope Of Solar PV Mounting Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Solar PV Mounting Systems Market Overview
Market Drivers –
The increasing demand for renewable energy is expected to propel the growth of the solar PV mounting systems market going forward. Renewable energy refers to energy derived from resources that are naturally available on a human timescale and are considered environmentally friendly. The number of solar installations, both at the utility and dispersed levels, requires safely putting solar panels on rooftops, ground-mounted arrays, or other structures with the help of a mounting system. It is used in renewable energy production process to provide a stable and secure base for solar panels, allowing them to capture sunlight and convert it into electricity, resulting in increased efficiency, durability, longevity, and space utilization. For instance, in March 2023, according to the Energy Information Administration (EIA), a US-based federal agency that provides official energy statistics and information, the combined wind and solar share of total generation increased from 12% in 2021 to 14% in 2022, with renewable generation surpassing coal and nuclear generation for the first time. Therefore, the increasing demand for renewable energy is boost solar PV mounting systems market.
Market Trends –
Major companies operating in solar PV mounting systems are focusing on technologically advanced products, such as fixed-tilt racking systems, to improve the efficiency and performance of solar power systems. A fixed-tilt racking system is an innovative and specialized framework for mounting solar panels in a fixed position with a predetermined tilt angle. For instance, in November 2022, GameChange Solar, a US-based solar energy equipment manufacturer, introduced the MaxDensity, a fixed-tilt racking system. This system is designed to maximize module density and has a high ground coverage ratio of up to 98%. It can support all commercially available framed modules and can be installed in blocks of up to 7 MW. Additionally, it offers several innovative features, such as a high ground coverage ratio, module support and configuration, installation and cost-effectiveness, wind and snow load handling, and scalability.
The aerospace support and auxiliary equipment market covered in this report is segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
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Regional Insights –
Asia-Pacific was the largest region in the solar PV mounting systems market in 2023. The regions covered in the solar pv mounting systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major companies operating in the solar pv mounting systems market are Jinko Solar Solutions Pvt. Ltd., Tata Solar International Ltd., Gonvarri Solar Industries, First Solar Energy Inc., SunPower Solar Corporation, Array Technologies Solutions Inc., NextGen Tracker Inc., Valmont Solar Industries Inc., Schletter Solar Solutions Group, Unirac Solar Mounting Inc., Clenergy Technology Co.Ltd., PV Hardware Solutions SLU, GameChange Solar Services India Pvt. Ltd., Mounting Solutions GmbH, AeroCompact Solar GmbH, RBI Solar Solutions Inc., K2 Solar Systems GmbH, Ideematec Solar AG, Soltec Power Holdings SA, Esdec Solar Technologies BV, Arctech Solar Solutions Pvt. Ltd., SolarWorld Mounting AG, Landpower Solar Technology Co.Ltd., Xiamen Grace Solar Technology Co. Ltd., Versolsar Solar Hangzhou Ltd.
Table of Contents
1. Executive Summary
2. Solar PV Mounting Systems Market Report Structure
3. Solar PV Mounting Systems Market Trends And Strategies
4. Solar PV Mounting Systems Market – Macro Economic Scenario
5. Global Solar PV Mounting Systems Market Size and Growth
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32. Global Solar PV Mounting Systems Market Competitive Benchmarking
33. Global Solar PV Mounting Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Solar PV Mounting Systems Market
35. Solar PV Mounting Systems Market Future Outlook and Potential Analysis
36. Appendix
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