New York, US, Oct. 21, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Solar PV Mounting Systems Market By Product, Technology, End-User- Forecast 2030, the market is anticipated to acquire a valuation of approximately USD 49,693.9 Million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 11.56% during the assessment timeframe.
Solar PV Mounting Systems Market Overview:
Solar energy is the best alternative to conventional fossil fuel energy sources. Solar power can help reduce carbon emissions while efficiently meeting the growing electricity demand. The continually growing deployments of solar rooftops in residential, commercial, infrastructural, and industrial sectors worldwide impact market growth positively.
Also, the wide adoption of solar power to meet the growing energy demand defines the expanding market landscape. Besides, the development of solar parks, funding support for domestic cells & modules, and schemes for grid-connected solar rooftop manufacturing influence the market growth. The rise in solar panel installations and growing government initiatives for infrastructure development benefit the solar rooftop market growth.
Players leading the global solar PV mounting systems market include-
- Schletter Group
- Unirac Inc.
- SolarWorld AG
- K2 Systems GmbH
- Quick Mount PV
- Land Power Solar Technology Co. Ltd.
- RBI Solar Inc.
- Mounting System GmbH
- Xiamen Grace Solar Technology Co. Ltd.
- Clenergy
- Tata International Ltd.
- Xiamen Universe Solar Tech. Co. Ltd.
- Xiamen Corigy New Energy Technology Co. Ltd.
- PV Racking
- Van der Valk Solar Systems BV
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Solar PV Mounting Systems Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 49,693.9 Million |
| Growth Rate | CAGR of 11.56% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Growing trends in building integrated PV systems |
| Key Market Drivers | Demand for mounting due to rise in the number of solar projects |
Industry Trends
The price decrease driven by falling costs of the overall solar generation systems is a major factor boosting the solar PV mounting systems market value. Besides, the rising energy demand and rapid economic growth, urbanization, and industrialization worldwide drive the solar PV mounting systems industry. With the increasing demand for solar power, the market is expected to garner colossal revenue growth.
The skyrocketing demand for energy, rapid depletion of non-renewable energy sources such as fossil fuels, and scarcity of land are other major growth drivers. Clean fuel sources are progressively becoming attractive due to government efforts to empower arrangements and guidelines. Furthermore, rapid growth in the utility sector and flourishing solar panel manufacturing facilities influence the solar PV mounting systems market growth.
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Solar PV Mounting Systems Market Segments
The report is segmented into products, technologies, end-uses, and regions. The product segment is sub-segmented into housetop and ground-mounted. The technology segment is sub-segmented into fixed and following. The end-use segment is sub-segmented into private, business, and utilities. The region segment is sub-segmented into Europe, the Americas, Asia-Pacific, and the Rest-of-the-World.
Solar PV Mounting Systems Market Geographical Analysis
The Asia Pacific region dominates the solar PV mounting systems market. Increasing adoption of solar systems in residential as well as industrial sectors is a major factor defining the growing solar PV mounting systems market size. Besides, government initiatives introduced to increase the adoption of solar energy boost the region’s solar PV mounting systems market shares.
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The strong presence of notable market players in the region, alongside government initiatives to promote renewable energy, also contributes to the solar PV mounting systems market growth. Government policies & regulations for the deployment and project facilitation of solar energy plants escalate the market value. Moreover, the raising awareness for renewable energy impacts market growth positively.
Also, the growing uptake of advanced technologies to improve statistics and data collection required for PV mounting system deployment influences market shares. China, Japan, and India hold considerable shares in the regional market, promoting clean energy. China is the leader in solar photovoltaic manufacturing and deployments, while Japan and India are second in completing energy targets.
The solar PV mounting systems market in Europe is growing due to the high installation of solar panels. The region has set a target to achieve a 32% share of renewable energy in energy consumption by 2030. The European Commission is focusing on the research and development of three main solar energy segments: photovoltaics, concentrated solar power, and solar heating & cooling devices.
Germany, Italy, the UK, and Spain are leading solar PV mounting system markets, accounting for significant market shares in the region. Increasing electricity demand and changing regulatory policies & tax regimes boost the installation of solar PV mounting systems. All these factors contribute to the growth of the European solar PV mounting system market.
Competitive Landscape
Highly competitive, the solar PV mounting systems market looks fragmented with the presence of several well-established market players. They strive to find new ways to utilize their expertise and explore opportunities in the renewable energy industry. Leading rooftop PV mounting system providers strive to build a mounting structure that can be directly connected to a purling placed below with self-drilling support screws.
So that these panels are neither stressed nor damaged, as all compressive and tensile forces from wind or snow rely on the roof substructure. These players incorporate strategic initiatives, such as acquisition, collaboration, expansion, and technology launch, to gain a larger competitive advantage.
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For instance, on Oct. 06, 2022, Unirac, Inc., a leading manufacturer of solar PV mounting systems in North America, announced securing a majority recapitalization investment led by Greenbelt Capital Partners. Unirac designs and manufactures solar photovoltaic (PV) mounting solutions for residential and commercial applications. It has built a fully integrated solar mounting solutions platform.
This investment will support Unirac’s quest for new product development and supply chain resiliency. It will further bolster Unirac’s commitment to enhance installation efficiency, allowing a superior customer experience that would help solidify its position as the leading provider of solar racking and mounting solutions in residential and C&I markets in the US.
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