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Solar PV Mounting Systems Market Size

Report ID: GMI1647
Published Date: May 2023
Report Format: PDF

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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.

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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.

Solar PV Mounting Systems Market Report Attributes
Report Attribute	Details
Base Year:	2023
Solar PV Mounting Systems Market Size in 2023:	USD 21.24 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	3.6%
2032 Value Projection:	USD 29.45 Billion
Historical Data for:	2019 to 2023
No. of Pages:	300
Tables, Charts & Figures:	705
Segments covered:	Technology, Product, End-Use, Region
Growth Drivers:	Stringent targets for solar PV system installations Declining component cost Growing demand for conventional energy replacement Favourable clean energy directives Increasing utility-scale investments Rising distributed and off-grid solar installations
Pitfalls & Challenges:	Availability of other sustainable alternatives

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of solar PV mounting systems exceeded USD 21.24 Billion in 2023 and is projected to depict 3.6% CAGR from 2024 to 2032 backed by rising off-grid solar installations across emerging nations, coupled with higher investments in the public & private sectors for the deployment of renewable solutions.

The solar PV mounting systems industry size from residential segment is anticipated to witness 3% growth through 2032, on account of ongoing technological improvements, combined with shifting customer preference for solar PV system adoption on account of lower electricity prices.

Asia Pacific solar PV mounting systems market sector will surpass USD 10.5 billion by 2032, attributed to various government measures comprising of investment subsidies, feed-in tariffs, and others, along with emergence of high capacity & efficient power production systems, and increasing consumer preference for clean energy solutions.

Versolsolar Hangzhou Co., Ltd., Clenergy, Nextracker Inc, Array Technologies, Inc., SunPower Corporation, SOLTEC, Arctech, First Solar, Schletter Group, UNIRAC, K2 Systems GmbH, and Jinko Solar among others.