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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.
How big is the Asia Pacific solar PV mounting systems market?
Asia Pacific market for solar PV mounting systems was reached USD 8.6 billion in 2023 and is anticipated to witness 2.3% CAGR from 2024 to 2032, due to higher need to support and position solar panels in a fixed orientation to maximize sunlight exposure and optimize energy production.
Why is the demand for fixed solar PV mounting systems rising in APAC?
Asia Pacific fixed solar PV mounting systems market is projected to cross USD 8.5 billion by 2032, led by advantages, including cost effectiveness, simple design, low maintenance, and few moving parts enabling higher reliability.
What is the value of Asia Pacific ground mounted solar PV mounting systems market?
Demand for ground mounted solar PV mounting systems in APAC is set to grow at more than 2% CAGR from 2024 to 2032, due to the increasing electricity demand and declining solar technology costs in line with growing emphasis on direct grid connection systems.
What is the size of China solar PV mounting systems industry?
China solar PV mounting systems market size is likely to exceed USD 5 billion by 2032, due to ongoing advancements in materials, design, and manufacturing processes to improve the performance and efficiency of the systems.