Ground Mounted Solar PV Mounting Systems Market Analysis

Ground Mounted Solar PV Mounting Systems Market Analysis

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The fixed ground mounted solar PV mounting systems industry size is anticipated to witness 2.9% growth rate till 2032. Accommodation of large number of solar panels and reducing cost of components has made solar power more competitive with conventional energy sources which will drive product adoption. Technological advancements in solar PV modules, inverters, and mounting systems coupled with several environmental benefits, such as reducing greenhouse gas emissions, & conserving natural resources will augment the market scenario. Moreover, sustainability becoming a priority for individuals, businesses, and governments, the demand for clean energy solutions like ground-mounted solar PV systems continues to grow.

Commercial & industrial ground mounted solar PV mounting systems market will cross a valuation of USD 8.3 billion by 2032 due to its capability to offer large-scale solution for generating clean electricity, makes the product an attractive choice for utility-scale projects and large commercial installations. Additionally, favorable investments in private & public sectors for the development of green infrastructures will positively influence the business landscape. For instance, in June 2021, Mounting Systems built a solar carport park for the development of its Sigma Carport solution. With 90,000 bifacial solar modules on the parking lots, the project aims to reduce around 18 million kg of CO_2. Therefore, the company has significantly supported the industry dynamics.
 

Asia Pacific industry size is estimated to amass USD 10.5 billion by 2032. Growing research & development centers for the improvement of latest technologies along with favorable government incentives and policies to promote the espousal of solar energy will complement the business trends across the region. Furthermore, beneficial business expansions in line with continuous changes in economy associated to efficient power distribution throughout remote locations will positively impact the product demand.