Global Solar PV Mounting Systems Market Size, Share, Growth Analysis, Forecast Report 2024-2032

Global Solar PV Mounting Systems Market Insights

Zion Market Research has published a report on the global Global Solar PV Mounting Systems Market, estimating its value at USD 14.74 Billion in 2023, with projections indicating that it will reach USD 19.91 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 3.4% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Global Solar PV Mounting Systems Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Global Solar PV Mounting Systems Market: Overview

Solar PV mounting systems are also known as solar module racking. These mounting systems are used for settling solar boards over the required area. Solar PV mounting systems are mainly made from stainless steel, aluminum, plastics, iron, and combination. The solar PV module systems are made structurally slanting for ensuring more absorption of sun rays on the solar boards. This solar vitality is then changed into electricity.

Solar PV mounting systems are structures or frameworks designed to firmly hold photovoltaic (PV) panels in place, allowing them to be installed on a variety of surfaces, including rooftops, ground areas, and even floating platforms. These systems are critical in guaranteeing the stability, efficiency, and lifetime of solar PV installations by supporting and orienting the panels so that they capture sunlight effectively.

Furthermore, solar PV mounting systems are widely used in the residential, commercial, and industrial sectors, allowing the deployment of solar energy systems for electricity generation. These mounting methods, whether on residential rooftops, carports in parking lots, or enormous solar farms in open fields, are critical for successfully and sustainably harnessing solar energy.

Solar PV mounting systems are highly probable to show extraordinary demand and have the widest scope for expansion because they are the most required component of the solar power industry. Solar PV mounting systems that are available in the market are lightweight, adaptable, durable, and easy to use.

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Global Solar PV Mounting Systems Market: Growth Factors

As the insatiable demand for energy spirals upward, the issue of energy shortage will be addressed by rising investments toward the utilization of renewable technologies including solar energy. As clean and sustainable ones are replacing conventional energy generation systems, the global solar PV mounting system market is sure to advance at a rapid pace.

Solar energy has been garnering increasing attention from numerous regions across the world due to its ability to minimize negative environmental impacts such as pollution, greenhouse gas emissions, climate change, management of radioactive waste, and acid rains which are the results of overusing non-renewable energy sources.

Since utility-scale solar power is one of the most efficient and fastest ways of minimizing carbon emissions, the global solar PV mounting systems market forecast is expected to receive a positive influence. The generation of clean, reliable, and safe power has been responsible for the expansion of the global solar PV mounting systems market size.

Since research and innovation in the area have been focused toward photovoltaic technologies, solar heating & cooling, and concentrated solar power, the advancements in the technology are likely to exploit the opportunities presented by the key regional markets.

However, the increasing availability, emergence, and development of alternative sources of energy that are equally safe and favorable for the environment, such as hydro energy, wind power, tidal energy, biomass energy, and geothermal energy is a factor projected to hamper the development of the global solar PV mounting systems market trends over the forthcoming timeline.

Global Solar PV Mounting Systems Market: Segmentation

The global solar PV mounting systems market outlook has been categorized on the basis of technology, product, end-use, and by region.

Based on technology, the market can be differentiated into tracking and fixed.

On the basis of product, the global solar PV mounting systems market is segregated into ground-mounted and rooftop.

By end-use, the global solar PV mounting systems market can be bifurcated into commercial, residential, utility, and others.

Global Solar PV Mounting Systems Market: Report Scope

Global Solar PV Mounting Systems Market: Regional Analysis

The Asia Pacific is slated for exceptional growth over the upcoming timeframe. This is owing to government-led programs and plans encouraging renewable energy generation. For instance, the solar capacity of India has surged from 2.6 GW to 34 GW in the past 5.5 years, according to the Indian Ministry of New and Renewable Energy. The data also reveals that solar power tariffs have been reduced across the nation by a staggering 75% due to the deployment of a plug-and-play model. Japan, Australia, and China are likely to represent considerable portions of the industry share.

Solar PV technology is gaining traction across North America on account of increasing installations of roof-top solar PV mounting systems. According to the International Renewable Energy Agency (IRENA), the aggregate capacity of solar PV (photovoltaic) systems was nearly 480 GW (excluding CSP) on a global scale as of 2018, being the second-largest renewable energy source after wind.

The European Union (EU) has been extending support toward research projects for developing advanced Concentrated Solar Power (CSP) systems via funds and financing. This is expected to create ample growth opportunities. Moreover, the European solar PV mounting systems market share is likely to be dominated by Germany, the UK, Spain, Italy, and France.

Global Solar PV Mounting Systems Market: Competitive Players

Some of the prominent organizations competing in the global solar PV mounting systems market include

• Schletter GmbH
• Mounting Systems GmbH
• K2 Systems GmbH
• Esdec B.V.
• SNS Corporation
• Array Technologies Inc.
• Soltec
• First Solar
• PV Hardware
• GameChange Solar
• ArcelorMittal
• DPW Solar
• RBI Solar
• Jinko Solar
• Unirac Inc.
• Xiamen Grace Solar Technology Co. Ltd.
• Versolsolar Clenergy
• NEXTracker Inc.
• SunPower Corporation
• Archtech Solar Holding Co. Ltd.
• Convert Italia SpA
• STI Norland
• Gonvarri Steel Services
• Aerocompact GmbH
• Ideematec AG.

Global Solar PV Mounting Systems Market is segmented as follows:

By Product

• Rooftop Mounting Systems
• Ground Mounted Mounting Systems

By Technology

• Fixed
• Tracking

By Application

• Residential
• Commercial
• Utility

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa