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Ground Mounted Solar PV Market Size

Report ID: GMI7960
Published Date: Jan 2024
Report Format: PDF

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Ground Mounted Solar PV Market Size

Ground Mounted Solar PV Market was valued at more than USD 102 billion in 2023 and is anticipated to grow over 5.1% CAGR between 2024 and 2032.

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Continuous decrease in the cost of solar panels and related components coupled with growing focus on utility-scale solar projects will augment the industry landscape. In addition, growing standard of living coupled with expansion of the smart infrastructure and rising consumer awareness on solar systems will augment the product adoption.

Ground Mounted Solar PV Market Report Attributes
Report Attribute	Details
Base Year:	2023
Ground Mounted Solar PV Market Size in 2023:	USD 102.46 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.1%
2032 Value Projection:	USD 156.94 Billion
Historical Data for:	2019 to 2022
No. of Pages:	300
Tables, Charts & Figures:	530
Segments covered:	Connectivity, End-Use and Region
Growth Drivers:	Increasing utility scale projects Technological advancements Favorable government incentives and policies
Pitfalls & Challenges:	Availability of alternative clean energy options

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market valuation of ground mounted solar PV was worth more than USD 102 billion in 2023 and is anticipated to surpass USD 156 million by 2032, owing to the continuous decrease in the cost of solar panels and related components, coupled with growing focus on utility-scale solar projects.

The utility segment will cross more than USD 83 billion by 2032, on the account of increasing emphasis on environmental sustainability in line with investment in clean energy with the aim in reduction of carbon footprints.

North America ground mounted solar PV market will record more than 5.5% CAGR from 2024 to 2032, owing to continuous technological advancements in solar PV technology, along with regional commitments to energy transition and decarbonization.

Jinko Solar, First Solar, REC Solar Holdings AS, CsunSolarTech, Solaria Corporation, LG Electronics, Yingli Solar, Renesola, SunPower Corporation, Risen Energy Co., Ltd., Vikram Solar Ltd., Su-vastika Solar, Versolsolar Hangzhou Co., Ltd., Clenergy, SOLTEC, Arctech, and UNIRAC.