Solar PV Mounting Systems Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Solar PV mounting systems refer to the structural framework or support structures used to install and secure photovoltaic (PV) solar panels in a fixed position, allowing them to capture sunlight and convert it into electricity efficiently. These mounting systems play a crucial role in a solar PV system's overall performance, stability, and durability.

Sizing and Forecast
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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Segmentation & Regional Insights
The solar PV mounting systems market covered in this report is segmented –
1) By Product: Rooftop Mounted, Ground Mounted
2) By Component: PV Modules, Inverters, Racking, Battery, Other Components
3) By Technology: Fixed, Tracking
4) By Application: Residential, Commercial, Industrial, Utility

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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.

The solar pv mounting systems market report table of contents includes:
1. Executive Summary

2. Solar PV Mounting Systems Market Characteristics

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

.

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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