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Commercial & Industrial Solar PV Mounting Systems Market Size
- Report ID: GMI11440
- Published Date: Sep 2024
- Report Format: PDF
Commercial & Industrial Solar PV Mounting Systems Market Size
The global commercial & industrial solar PV mounting systems market was valued at USD 4.4 billion in 2023 and is anticipated to grow at a CAGR of 5.1% between 2024 and 2032. Solar PV mounting systems are used to fix solar panels to the surface of roofs, buildings, and grounds. These systems securely hold the PV modules in place, ensuring proper orientation and tilt to maximize solar energy capture. Key considerations for these systems include structural integrity, durability, ease of installation, and the ability to withstand environmental conditions.
Introduction of regulatory reforms including financial & asset leverage, subsidies, and various other financial tools which is set to complement the adoption of renewable solutions thereby positively impacting the business dynamics. The solar PV mounting system industry is witnessing immense competition on account of ongoing technological advancements with rapid innovations, and declining cost. Furthermore, extensive large-scale deployment of clean energy owing to its versatility as an energy carrier along with increasing shift to achieve the energy transition will accelerate the industry dynamics.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Commercial & Industrial Solar PV Mounting Systems Market Size in 2023: | USD 4.4 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.1% |
| 2032 Value Projection: | USD 7.1 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 80 |
| Tables, Charts & Figures: | 20 |
| Segments covered: | Technology, Product and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The leading industry suppliers are also adopting bulk manufacturing practices along with the emphasis on viable product pricing to sustain a competitive edge in the global market. Moreover, in the last few years, inorganic growth ventures along with new product launches as per the geographic requirements are some of the other major strategies pursued by participants to gain an optimal market position.
Shifting consumer focus toward clean energy coupled with growing installation of solar PV systems is set to augment the demand for mounting systems. Continuous introduction of various grants, initiatives and exemptions by the government bodies coupled with shifting focus to lower the use of conventional fuel sources owing to surging greenhouse gas emissions will boost the industry statistics.
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Commercial & Industrial Solar PV Mounting Systems Market Scope
