Solar PV Mounting Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Solar PV Mounting Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033 It will grow to $35.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.”
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LANDON, GREATER LANDON, UK, July 10, 2024 /EINPresswire.com/ -- The global solar PV mounting systems market is projected to grow from $24.83 billion in 2023 to $26.92 billion in 2024, at a CAGR of 8.4%. The market is anticipated to reach $35.58 billion by 2028, driven by increasing solar PV installations, grid integration, and environmental awareness.
Increasing Demand for Renewable Energy Drives Market Growth
The increasing demand for renewable energy is a key factor propelling the growth of the solar PV mounting systems market. With the rise in solar installations across residential, commercial, industrial, and utility sectors, robust mounting systems are essential for securely positioning solar panels to maximize sunlight capture and electricity generation efficiency. According to the Energy Information Administration (EIA), renewable generation surpassed coal and nuclear generation in 2022, highlighting the accelerating shift towards renewable sources.
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Major Players and Market Trends
Major companies driving innovation in the solar PV mounting systems market include Jinko Solar Solutions Pvt. Ltd., Tata Solar International Ltd., Gonvarri Solar Industries, First Solar Energy Inc., SunPower Solar Corporation, Array Technologies Solutions Inc., NextGen Tracker Inc., Valmont Solar Industries Inc., Schletter Solar Solutions Group, Unirac Solar Mounting Inc., Clenergy Technology Co. Ltd., PV Hardware Solutions SLU, GameChange Solar Services India Pvt. Ltd., Mounting Solutions GmbH, AeroCompact Solar GmbH, RBI Solar Solutions Inc., K2 Solar Systems GmbH, Ideematec Solar AG, Soltec Power Holdings SA, Esdec Solar Technologies BV, Arctech Solar Solutions Pvt. Ltd., SolarWorld Mounting AG, Landpower Solar Technology Co. Ltd., Xiamen Grace Solar Technology Co. Ltd., Versolsar Solar Hangzhou Ltd.
These companies are focusing on advanced solutions such as fixed-tilt racking systems to enhance solar power system efficiency and performance. GameChange Solar, for example, introduced the MaxDensity fixed-tilt racking system in November 2022, designed to maximize module density with a high ground coverage ratio of up to 98%. This system supports various framed modules and offers features like cost-effectiveness, scalability, and resilience against environmental loads.
Segments:
By Product: Rooftop Mounted, Ground MountedBy Component: PV Modules, Inverters, Racking, Battery, Other ComponentsBy Technology: Fixed, TrackingBy Application: Residential, Commercial, Industrial, Utility
Geographical Insights: Asia-Pacific Leading the MarketAsia-Pacific emerged as the largest region in the solar PV mounting systems market in 2023 and is expected to maintain significant growth momentum. The region benefits from increasing solar adoption driven by government policies, urbanization, and energy demand.
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Solar PV Mounting Systems Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and FutureMarket analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Solar PV Mounting Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on solar PV mounting systems market size, solar PV mounting systems market drivers and trends, solar PV mounting systems market major players, competitors' revenues, market positioning, and market growth across geographies. The solar PV mounting systems market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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July 10, 2024, 16:50 GMT
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