Asia Pacific Solar PV Mounting Systems Market Size

Asia Pacific Solar PV Mounting Systems Market was valued at USD 8.6 billion in 2023 and is anticipated to grow at a CAGR of 2.3% during 2024 to 2032. A solar PV mounting system is a structure or framework designed to support and position solar panels in a fixed orientation to maximize sunlight exposure and optimize energy production. The mounting system securely anchors solar panels to various surfaces, such as rooftops, ground surfaces, or other structures, ensuring stability and durability over the lifetime of the solar installation.

Increasing awareness of renewable energy and government incentives to promote rooftop solar installations along with growing requirement to reduce electricity bills will augment the industry landscape. Growing investments in solar energy infrastructure to meet rising energy demands and reduce reliance on fossil fuels will further drive the business scenario. For instance, in February 2024, IEA estimated that the global investments in clean energy technologies including solar PV will triple from USD 1.8 trillion to 4.5 trillion by the early 2030s.

Asia Pacific Solar PV Mounting Systems Market Trends

Shifting consumer trends toward sustainability along with enhanced durability in the PV systems designs including utilization of recyclable materials will stimulate the business landscape. Reduced environmental impact during production coupled with long-term reliability in harsh environmental conditions will contribute to the industry statistics. Moreover, integration of solar PV systems with energy storage solutions, including batteries will fuel the product demand.

Asia Pacific Solar PV Mounting Systems Market Analysis

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Based on technology, the fixed solar PV mounting system is projected to reach USD 8.5 billion by 2032. Key features including cost effectiveness, simple design, low maintenance, and few moving parts enabling higher reliability coupled with its versatility to be deployed in various settings, including rooftop, ground-mounted, and carport installations will influence the product penetration. Additionally, innovations comprising lightweight materials, aerodynamic designs, and integrated wiring solutions contributing to increase energy yields and cost reductions will complement the business trends.

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Based on product, the ground mounted solar PV mounting systems is set to grow at a rate of more than 2% through 2032. Increasing electricity demand and declining solar technology costs in line with growing emphasis on direct grid connection systems to enable seamless integration with existing transmission and distribution infrastructure will sway the industry trends. Moreover, these systems enable to preserve valuable agricultural land, natural habitats, and open spaces, supporting biodiversity conservation efforts, which will augment the business potential.

Utility solar PV mounting systems witnessed a market share of over 50% in 2023. Upsurge in investment in large-scale solar installations by governments and private authorities to diversify their energy portfolios in conjunction with rising awareness to reduce carbon emissions to meet renewable energy targets will drive the business dynamics. Furthermore, increasing efforts to mitigate environmental impacts and enhance project acceptance amongst local communities and stakeholders will propel the industry outlook.

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China solar PV mounting systems market revenue to cross USD 5 billion by 2032. Ongoing advancements in materials, design, and manufacturing processes to improve the performance and efficiency of the systems combined with government policies, certificates, incentives, and regulations that promote renewable energy deployment will boost the product installation. For instance, the China Quality Certification Center (CQC), a quality service body approved by government of China aims to ensure safety, reliability, and long-term performance of solar panels, thereby strengthening the overall business scenario.

Asia Pacific Solar PV Mounting Systems Market Share

Mergers, acquisitions, and collaborations enable companies to leverage complementary technologies, enhance product offerings, and streamline supply chains to meet evolving customer needs, thereby fostering the business landscape. Large scale consolidation wherein key manufacturers acquire smaller competitors and form strategic partnerships to expand their market presence and geographic reach, enabling enhanced competitive scenario.

Asia Pacific Solar PV Mounting Systems Market Companies

Eminent players operating in the Asia Pacific solar PV mounting systems industry include:

• Arctech
• Array Technologies, Inc.
• Clenergy
• First Solar
• GameChange Solar
• Jinko Solar
• K2 Systems GmbH
• Nextracker Inc
• Powerway Renewable Energy
• PV Hardware
• Schletter Group
• SOLTEC
• SunPower Corporation
• Versolsolar Hangzhou Co., Ltd.
• YANGLIN TECH CO., LTD
  

Asia Pacific Solar PV Mounting Systems Industry News

• In January 2024, Surfactor Asia Pacific Sdn Bhd in collaboration with Solar Galatic Sdn Bhd announced the initiation of renewable energy project by utilizing solar technology at its Johor Facility in Malaysia. The projects comprise of solar panels covering two buildings and one car park and aims to generate 20% of company’s energy needs annually. The company will be able to contribute to the National Energy Transition Roadmap of Malaysia and reduce carbon footprint across the industry.
  
• In April 2021, K2 Systems GmbH commenced its new location in Australia to focus on residential market and offer its innovative mounting system solutions for rooftops in Australia. The company aimed to expand its solar PV mountings system product portfolio across the country complying to all the codes and standards. Hence, the expansion solidified the company's position in the industry.
  

This Asia Pacific solar PV mounting systems market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in ‘USD Billion’ from 2019 to 2032, for the following segments:

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Market, By Technology

• Fixed
• Tracking

Market, By Product

• Ground Mounted
• Rooftop

Market, By End-Use

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• China
• Australia
• India
• Japan
• South Korea
• Thailand
• Philippines
• Vietnam
• Malaysia
• Singapore