Solar PV Mounting Systems Market worth over $21bn by 2028

Solar PV Mounting Systems Market size is set to surpass USD 21 billion by 2028, according to a new research report by Global Market Insights Inc.
 

The market growth is attributed to the rising government investments towards the installation of clean energy sources in line with growing consumer awareness toward utilization of solar power. Rapid expansion of advance technologies coupled with decreasing component costs will positively influence the product adoption. Gradual shift toward the acceptance of higher efficiency power generation units along with increasing consumer demand for PV solar will boost the industry expansion.
 

The COVID- 19 pandemic has impacted the overall market demand due to the government imposed lockdowns and restrictions. Supply chain disruptions, delay in the construction projects are some of the factors impacting the industry progression. However, ongoing vaccination drive, improved medical facilities along with rising research and development investments in the industry will further spur the business landscape.
 

Key product specifications comprising of simple structures and low maintenance costs will enhance the fixed systems demand

Fixed systems technology in the solar PV mounting systems market is predicted to observe a 1% growth rate till 2028 owing to the stringent government regulations toward the installation of renewable energy sources along with rising electricity demand across growing economies. The decreased exposure of fixed panels reduces windloading concerns in line with easy installation of these structures will positively sway the product penetration. Furthermore, favourable investments and incentives by the government pertaining to the development of advanced energy solution coupled with stringent laws and directives will proliferate the industry landscape.
 

Browse key industry insights spread across 300 pages with 393 market data tables & 40 figures & charts from the report, “Solar PV Mounting Systems Market Size By Technology (Fixed, Tracking), By Product (Ground Mounted, Rooftop), By End-Use (Residential, Commercial & Industrial, Utility), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/solar-PV-mounting-systems-market
 

Growing demand for clean energy along with rising consumer focus toward acceptance of renewable resources will boost the market progression

Ongoing technological advancements along with robust investments across private and public sectors pertaining to the development of solar technologies will augment the industry trends. Paradigm shift toward the installation of distributed and off grid solar supply coupled with the ability to offer enhanced power output across utility scale will proliferate the industry growth. Additionally, integration of innovative technologies with new product development by major players in line continuous research and development activities will increase the industry demand.
 

Continuous replacement of conventional power along with favourable directives for clean energy will foster the ground mounted systems growth

Ground mounted solar PV mounting systems market is expected to witness significant growth on account of the continuous installation of solar modules across residential & commercial sectors in line with increasing focus for the installation of large-scale solar PV projects. Ongoing efforts towards the usage of highly efficient energy production systems along with continuous declining costs of components will augment the industry value. In addition, safe and easy installation, panel longevity, high energy production coupled with the ability to offer better efficiency of these systems will escalate the demand for solar PV mounting systems.
 

Rising inclination towards the adoption of renewable resources coupled with growing requirement of clean electricity will fuel the market expansion of commercial solar PV mounting systems

Commercial solar PV mounting systems market is estimated to register substantial gains impelled by the increasing demand for electricity along with favorable norms for clean energy resource development. Ability of solar to provide energy security coupled with the development of monitoring software will stimulate the demand for commercial solar PV mounting systems. Furthermore, rising installation of solar PV projects along with the integration of advance technologies will drive the industry revenue.
 

Stringent government laws and regulations to curb carbon emission coupled with growing demand for sustainable energy will spur the market value

North America solar PV mounting systems market is anticipated to reach USD 3.2 billion by 2028. Paradigm shift towards the usage of clean energy generation solutions along with increasing investments across utility scale. Continuous research & development activities coupled with continuous development of solar technologies will accelerate the industry dynamics. Moreover, stringent government norms and policies towards carbon emission concern in line with favourable private & public sector investments will surge the industry outlook.
 

Stringent government laws coupled with strategic partnerships and collaborations will propel the product demand

Prominent companies across the market includes Aerocompact, ArcelorMittal, IDEEMATEC, Gonvarri Industries, STI Norland, GameChange Solar, PVHardware, SunPower Corporation, Convert Italia, First Solar, Arctech, Soltec, and Schletter among others. Inorganic growth ventures mergers and partnerships along with rising product developments will escalate the industry scenario.