The global Photovoltaic Mounting System Market, valued at approximately USD 22 million in 2023, is poised to expand significantly, reaching an estimated USD 94.64 million by 2032. This growth is anticipated to occur at a compound annual growth rate (CAGR) of 17.6% from 2024 to 2032. Photovoltaic (PV) mounting systems serve as crucial structural frameworks that secure solar panels in place, ensuring optimal exposure to sunlight on a variety of surfaces, including rooftops and ground areas. These systems are integral to the functionality of residential, commercial, and utility-scale solar installations, contributing to the efficient generation of solar energy across diverse environments.
The increasing adoption of solar energy is one of the primary drivers of market growth. As the world transitions towards renewable energy sources, there is a notable surge in solar energy projects globally. Governments and businesses are increasingly investing in solar power infrastructure to meet sustainability goals and reduce carbon footprints. This heightened focus on solar energy is driving the demand for advanced and efficient PV mounting systems, which are essential for the effective deployment of solar panels. Also, technological advancements in PV mounting systems are also contributing significantly to market expansion. Innovations such as the development of lightweight, durable materials and improved installation techniques have made these systems more cost-effective and easier to deploy. These advancements have facilitated the widespread adoption of PV mounting systems in both developed and developing regions, further boosting market growth.
Supportive government policies play a crucial role in fostering the growth of the photovoltaic mounting system market. Many governments offer incentives, subsidies, and tax benefits to promote the adoption of solar energy. These policies not only encourage the installation of solar panels but also increase the demand for PV mounting systems, particularly in regions where solar energy policies are favorable.
In terms of regional growth, the Asia Pacific (APAC) region is expected to dominate the global photovoltaic mounting system market. Countries such as China and India are at the forefront of solar energy utilization, particularly in commercial spaces dedicated to solar photovoltaic cell production. The region's large and consistently growing population, coupled with government initiatives to invest in renewable energy infrastructure, creates promising growth prospects for the PV mounting system market. Emerging markets within APAC, including Australia and ASEAN countries, are also expected to contribute significantly to market expansion.
Major market players included in this report are:
Schletter Group
Unirac Inc.
SolarWorld AG
K2 Systems GmbH
Quick Mount PV
Land Power Solar Technology Co. Ltd.
RBI Solar Inc.
Mounting System GmbH
Xiamen Grace Solar Technology Co. Ltd.
Clenergy
Tata International Ltd.
Xiamen Universe Solar Tech. Co. Ltd.
Xiamen Corigy New Energy Technology Co. Ltd.
PV Racking
Van der Valk Solar Systems BV
The detailed segments and sub-segment of the market are explained below:
By Product:
Rooftop
Ground-mounted
By Technology:
Fixed
Tracking
By End Use Sector:
Residential
Commercial
Civic Utilities
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
