Solar PV Mounting Systems Market Size - By Technology (Fixed, Tracking), By Product (Ground Mounted, Roof-Top), By End-Use (Residential, Commercial & Industrial, Utility) & Forecast, 2024 – 2032

Solar PV Mounting Systems Market Size

Solar PV Mounting Systems Market size surpassed USD 21.24 billion in 2023 and is anticipated to expand at 3.6% CAGR from 2024 to 2032.

Rising off-grid solar installation throughout emerging nations, coupled with higher investments in the public & private sectors for the deployment of renewable solutions, will propel business scenario. In addition, ongoing technological developments associated with increasing the effectiveness of solar panels, in conjunction with increasing consumer demand for the substitution of traditional energy sources, will enhance the industry outlook.

COVID-19 Impact

The pandemic has made consequences on the solar PV mounting systems market growth resulting in higher solar PV component prices and substantial supply chain disruptions. Furthermore, the shutdown of numerous industrial units was an effect of industry closures and lockout impositions resulted in the delaying of deployment and installation projects. Government directives and safety measures coupled with the resumption of industrial operations, on the contrary will stimulate business landscape.

Solar PV Mounting Systems Market Analysis

The fixed solar PV mounting systems market size projected to observe 3% growth during 2023-2032. Rigorous legislation and mandates focused on increasing green energy adoption in conjunction with the ongoing development of innovative and clean energy sources will foster industry demand. For example, in September 2022, OMCO Solar, a company based in the United States, and Moss, a firm based in Florida, deployed a 650 MW utility-scale solar portfolio in Florida. OMOCO Solar's 1.85 million solar panels with fixed-tilt mounting systems to provide power supply to about 100,000 residences. Furthermore, stringent requirements for the installation of solar PV systems, along with a perpetual fall in component costs, will sway business expansion.
 

Rooftop segment cross a valuation of USD 1.8 billion by 2032 on account of their simple installation & endurance in offering high load capacity across household, commercial, & industrial applications. Rising investments in grid expansion & rooftop system technology integration, complemented by favorable economics associated with utility-scale installation will accelerate the business potential. Furthermore, minimal maintenance costs combined with the perk of no extra space for installation will boost up product demand.

Ground-mounted solar PV mounting systems market expected to bolster owing to better energy output, easy maintenance, and panel longevity. Reduced expenses and the availability of green loans for ground-mounted systems. coupled with government regulations such as feed-in tariffs (FiT) and power purchase agreements, will further enhance the business dynamics. Moreover, the incorporation of smart monitoring & control technologies along with favorable consumer trends will augment product adoption.

Residential solar PV mounting systems industry is poised to attain 3% gains till 2032. Ongoing technological improvement, combined with an increasing customer preference for solar PV system adoption on account of lower electricity prices, will support the business outlook. Additionally, favorable government assistance for solar system adoption, coupled with falling component costs of solar PV mounting systems, is set to spur the market statistics.

Commercial & industrial solar PV mounting systems market will expand on account of solar’s capability to provide energy security & the development of monitoring software. Increasing demand for power, in conjunction with favorable regulations for the development of sustainable energy resources, will contribute to product espousal. However, the increasing installation of solar PV projects and the implementation of advanced technologies, will enhance business trends.
 

Asia Pacific solar PV mounting systems industry size is estimated to amass USD 10.6 billion by 2032. Strict government measures comprising of investment subsidies, Feed in Tariffs, and others, in conjunction with rising finances, will thrust the business dynamics. Rising PV solar technology installation across the sector to meet rising electricity demand will enhance the business landscape. Moreover, the emergence of high capacity & efficient power production systems, along with increasing consumer focus on the adoption of clean energy solutions, will fuel industry development.

Solar PV Mounting Systems Market Share

Prominent players operating in the solar PV mounting systems market includes

• Versolsolar Hangzhou Co. Ltd.
• Clenergy
• Nextracker Inc
• Array Technologies Inc.
• SunPower Corporation
• SOLTEC
• Arctech
• First Solar
• Schletter Group
• UNIRAC
• K2 Systems GmbH
• Jinko Solar
• Mounting Systems
• Xiamen Grace Solar New Energy Technology Co., Ltd.
• Valmont Industries, Inc
• Jinko Solar
• PV Hardware
• Convert Italia SPA
• Esdec B.V.
• GameChange Solar
• Gonvarri Industries
• ArcelorMittal
• Ideematec AG
• DPW Solar
• Aerocompact GmbH
   

Solar PV Mounting Systems Industry News

• In May 2023, Gransolar commissioned 49.9MWac / 71MWdc project named Larks Green in UK for Enso Energy and Cero Generation. The project aims to contribute for the growth of renewable energy & energy independence in areas where electricity bills have been tripled since last two years. The PV plant is equipped with 152,400 solar panels which will reduce 20,500tons of CO₂ annually. The solar power is directly connected to national transmission grid owing to supply of power to remote areas. Such utility scale project development will augment the industry growth.
   
• In April 2023, Antaisolar collaborated with UOB Thailand to become solar mounting system supplier of UOB’s U-Solar 2.0 program. This program aims to gather end to end support all over the supply chain to thrive solar market across Southeast Asia (SEA). Antaisolar's cumulative solar racking system shipments in SEA have reached 3080 MW. This initiative and collaborations will enhance the green energy transition while reducing the access cost, thereby it will fuel the product adoption.
   

This market research report on solar PV mounting systems includes in-depth coverage of the industry with estimates & forecast in terms of ‘USD Million’ from 2023 to 2032 for the following segments:

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Market, By Technology

• Fixed
• Tracking

Market, By Product

• Ground mounted
• Roof-Top

Market, By End-Use

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S
  • Canada
  • Mexico
• Europe
  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • Germany
  • Italy
  • Switzerland
  • Spain
  • Sweden
  • UK
  • Netherlands
  • Poland
  • Belgium
  • Ireland
  • Baltics
  • Portugal
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Thailand
  • Philippines
  • Vietnam
  • Malaysia
  • Singapore
• Middle East
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
  • Kuwait
  • Turkey
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile
  • Argentina
  • Peru