Fixed Solar PV Mounting Systems Market Size

Fixed Solar PV Mounting Systems Market Size

Fixed Solar PV Mounting Systems Market was valued at USD 16 billion in 2023 and is anticipated to grow at a CAGR of 2.5% from 2024 to 2032. A solar PV (photovoltaic) mounting system is a structural framework used to securely fix solar panels to various surfaces, such as rooftops, ground, or poles. The primary purpose of the mounting system is to ensure that the solar panels are positioned correctly for optimal solar energy absorption, considering factors comprising the angle of inclination, orientation, and environmental conditions.

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Surge in residential installations, driven by declining costs of solar panels and supportive government policies coupled with increasingly opting for rooftop mounting systems due to their relatively straightforward installation and ability to offset electricity costs will stimulate the industry dynamics. In addition, commercial rooftops and parking structures are popular locations for fixed solar PV installations, augmenting the product penetration.
 

Advancements in manufacturing, economies of scale and decrease in the cost of solar panels and related hardware, will make solar PV systems more affordable, which will positively impact the industry statistics. Technological improvements in solar panel efficiency have made fixed mounting systems more attractive, as they can generate more electricity from the same amount of sunlight will drive the business scenario.