The global Solar PV Mounting Systems market generated a revenue of USD 9.8 billion in 2023. Further, driven by rapid growth in solar power markets, the market is poised to register a 10.2% CAGR to reach $19.3 billion in 2030.
The Solar PV Mounting Systems market growth is driven predominantly by the increasing demand for solar energy, the growing government support for renewable energy, and the declining cost of solar panels. The latest developments in the solar PV mounting systems market include the increasing use of tracking systems, the development of lightweight and modular mounting systems, the use of 3D printing technology, and others supporting the long-term market growth potential.
Ongoing investments in the industry include increased use of tracking systems, development of lightweight and modular mounting systems, improved mounting material durability, digitalization, and IoT integration, and customization and flexible installation options. Tracking systems track the sun's movement throughout the day, which allows them to capture more solar energy. This makes tracking systems more efficient than fixed mounting systems. Lightweight and modular mounting systems are easier to install and maintain than traditional mounting systems. This makes them more attractive to small businesses and homeowners. Further, 3D printing technology is being used to create custom mounting systems that are tailored to specific needs. This is making it possible to create more efficient and cost-effective mounting systems.
Market Analysis- An Introduction to Solar PV Mounting Systems Market in 2023
The Solar PV Mounting Systems market is poised to register a 10.2% CAGR between 2023 and 2030, owing to increasing demand for solar energy, the declining cost of solar panels, and government incentives for solar power. Both rooftop and ground-mount types are witnessing rapid growth. The rooftop segment is growing due to the increasing demand for solar panels in residential and commercial buildings. The ground-mounted segment is growing due to the increasing demand for solar power in utility-scale projects.
The industrial application segment is expected to dominate the market during the forecast period. The industrial application segment is growing due to the increasing demand for solar power in factories and warehouses.
Leading companies continue to market the ability of solar PV mounting systems that are designed to be easy to install and maintain, and compatible with a variety of solar panels. Systems are also designed to be scalable, so they can be used for small residential projects or large commercial projects.
SolarEdge launched a new ground-mounted mounting system in 2021. The system is designed to be scalable and modular, and it is compatible with a variety of solar panels. The system is also designed to be weather-resistant and durable, making it ideal for use in harsh climates. GameChange Solar introduced MaxDensity, Aerocompact introduced new ground-mounted pile-driving series, COMPACTGround RAM-X with a modular concept with just three main components, SnapNrack Launched TopSpeed™ Mounting System, Unirac launches shared-rail version of its Ground Fixed Tilt (GFT) system, and others. The market is characterized by continuous growth, driven by the increasing demand for solar energy, new product launches, and new solar technologies.
The development of new solar technologies are New solar technologies, such as bifacial solar panels and trackers, are becoming increasingly popular. These technologies can generate more electricity than traditional solar panels. Which is driving the demand for solar PV mounting systems that can support them.
Market Trends – Integration of Tracking systems into Solar PV Mounting systems
The integration of tracking systems into solar PV mounting systems is gaining momentum as the solar industry focuses on achieving higher energy efficiency and optimizing power generation. Encompassing single-axis and dual-axis trackers, it optimally positions panels to capture sunlight throughout the day. Potential benefits such as heightened energy yields of up to 30%, balanced energy production aligned with peak demand periods, and increased energy density support the market outlook. Despite challenges such as complexity, maintenance requirements, and initial costs, companies are opting for tracking systems owing to the potential for reduced energy expenses, improved grid stability, and heightened cost-competitiveness position tracking systems.
Market Drivers- Global Demand for Renewable Energy is Growing Rapidly
The growth of the Solar PV Mounting systems market is driven by the increasing demand for renewable energy, government incentives for solar energy adoption, and falling prices of solar panels. In recent news, the Biden administration has an infrastructure plan for clean energy in the US, which is expected to boost the demand for solar PV mounting systems.
The global demand for renewable energy is growing rapidly, as governments and businesses around the world look to reduce their reliance on fossil fuels. Solar energy is a major part of the renewable energy mix, and the demand for solar PV mounting systems is expected to grow in tandem with the growth of the solar energy market.
Governments are extending financial incentives for the adoption of solar energy, such as tax credits, rebates, and grants. These incentives make solar energy more affordable for consumers and businesses, which is driving the demand for solar PV mounting systems.
The cost of solar panels has been declining steadily in recent years, making solar energy more affordable for a wider range of consumers and businesses. This is driving the demand for solar PV mounting systems more people and businesses are able to afford to install solar panels.
Market Share Analysis- Fixed Systems continue to hold a significant market share worldwide
The solar PV mounting systems market is segmented by technology into fixed and tracking systems. Fixed systems are the most common type of solar mounting system. They are relatively inexpensive and easy to install. Tracking systems are more expensive than fixed systems, but they can generate more electricity by tracking the sun throughout the day. The tracking systems market is expected to grow at a faster rate than the fixed systems market in the coming years, as more and more solar installers opt for systems that can generate more electricity.
Industry Share Analysis- The rooftop mounting systems are increasingly deployed in residential systems, supporting its dominant market share
The solar PV mounting systems market is also segmented by product into ground-mounted and rooftop systems. Ground-mounted systems are used for large-scale solar projects, such as utility-scale solar farms. Rooftop systems are used for residential and commercial solar installations.
The rooftop systems market is expected to grow at a faster rate than the ground-mounted systems market in the coming years, as more and more homeowners and businesses opt to install solar panels on their roofs. Further, more and more homeowners and businesses are installing solar panels on their roofs. This growth is being driven by falling prices of solar panels, government incentives, and increasing awareness of the environmental benefits of solar energy.
Market Opportunities- Utility is the fastest end-user for Solar PV mounting systems
The solar PV mounting systems market is segmented by end-user into residential, commercial, industrial, and utility applications. The residential market is the largest end-user segment for solar PV mounting systems. This is because solar panels are becoming increasingly popular for homeowners who want to reduce their energy bills and their reliance on fossil fuels. The commercial and industrial markets are also growing rapidly, as more and more businesses are installing solar panels to reduce their energy costs. The utility market is expected to grow at the fastest rate in the coming years, as utilities are looking to solar energy as a way to meet their renewable energy targets.
Regional Analysis
North America- North America is the largest market for solar PV mounting systems, owing to the region's high solar irradiance levels, favorable government policies, and growing demand for renewable energy. The United States is the largest market for solar PV mounting systems in North America. This is due to the country's large population, high disposable income, and favorable government policies.
Europe- Europe is the second-largest market for solar PV mounting systems, driven by a strong commitment to renewable energy, favorable government policies, and growing demand for solar energy. Germany is the largest market for solar PV mounting systems in Europe.
Asia Pacific- Asia Pacific is the fastest-growing market for solar PV mounting systems. China is the largest market for solar PV mounting systems in Asia Pacific.
Middle East & Africa- The region is expected to grow at a rapid pace in the coming years, due to the increasing demand for renewable energy and the growing availability of government incentives.
Market Segmentation
By Location
By Technology
By Application
By Component
Region
Key Solar PV Mounting Systems Companies
Solar PV Mounting Systems Market Outlook 2023
1 Market Overview
1.1 Introduction to Solar PV Mounting Systems Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 Solar PV Mounting Systems Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Solar PV Mounting Systems Market Companies with Area Served
4.2.2 Products Offerings Global Solar PV Mounting Systems Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 Post-COVID-19 Scenario- Low Growth Case
5.1.3 Post-COVID-19 Scenario- Reference Growth Case
5.1.4 Post-COVID-19 Scenario- Low Growth Case
6 Global Solar PV Mounting Systems Market Trends
6.1 Global Solar PV Mounting Systems Revenue (USD Million) and CAGR (%) by Type (2018-2028)
6.2 Global Solar PV Mounting Systems Revenue (USD Million) and CAGR (%) by Applications (2018-2028)
6.3 Global Solar PV Mounting Systems Revenue (USD Million) and CAGR (%) by Regions (2018-2028)
7 Global Solar PV Mounting Systems Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Solar PV Mounting Systems Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Solar PV Mounting Systems Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Solar PV Mounting Systems Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Solar PV Mounting Systems Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global Solar PV Mounting Systems Development Regional Status and Outlook
8.1 Global Solar PV Mounting Systems Revenue (USD Million) By Regions (2018-2022)
8.2 North America Solar PV Mounting Systems Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Solar PV Mounting Systems Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Solar PV Mounting Systems Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Solar PV Mounting Systems Revenue (USD Million) by Applications (2018-2022)
8.3 Europe Solar PV Mounting Systems Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Solar PV Mounting Systems Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Solar PV Mounting Systems Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Solar PV Mounting Systems Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific Solar PV Mounting Systems Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) by Applications (2018-2022)
8.5 South America Solar PV Mounting Systems Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Solar PV Mounting Systems Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Solar PV Mounting Systems Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Solar PV Mounting Systems Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global Solar PV Mounting Systems Market Revenue (USD Million), by Type, and Applications (2023-2028)
10.1 Global Solar PV Mounting Systems Revenue (USD Million) and Market Share (%) by Type (2023-2028)
10.1.1 Global Solar PV Mounting Systems Revenue (USD Million), and Market Share (%) by Type (2023-2028)
10.2 Global Solar PV Mounting Systems Revenue (USD Million) and Market Share (%) by Applications (2023-2028)
10.2.1 Global Solar PV Mounting Systems Revenue (USD Million), and Market Share (%) by Applications (2023-2028)
11 Global Solar PV Mounting Systems Development Regional Status and Outlook Forecast
11.1 Global Solar PV Mounting Systems Revenue (USD Million) By Regions (2023-2028)
11.2 North America Solar PV Mounting Systems Revenue (USD Million) by Type, and Applications (2023-2028)
11.2.1 North America Solar PV Mounting Systems Revenue (USD) Million by Country (2023-2028)
11.2.2 North America Solar PV Mounting Systems Revenue (USD Million), by Type (2023-2028)
11.2.3 North America Solar PV Mounting Systems Revenue (USD Million), Market Share (%) by Applications (2023-2028)
11.3 Europe Solar PV Mounting Systems Revenue (USD Million), by Type, and Applications (2023-2028)
11.3.1 Europe Solar PV Mounting Systems Revenue (USD Million), by Country (2023-2028)
11.3.2 Europe Solar PV Mounting Systems Revenue (USD Million), by Type (2023-2028)
11.3.3 Europe Solar PV Mounting Systems Revenue (USD Million), by Applications (2023-2028)
11.4 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) by Type, and Applications (2023-2028)
11.4.1 Asia Pacific Solar PV Mounting Systems Revenue (USD Million), by Country (2023-2028)
11.4.2 Asia Pacific Solar PV Mounting Systems Revenue (USD Million), by Type (2023-2028)
11.4.3 Asia Pacific Solar PV Mounting Systems Revenue (USD Million), by Applications (2023-2028)
11.5 South America Solar PV Mounting Systems Revenue (USD Million), by Type, and Applications (2023-2028)
11.5.1 South America Solar PV Mounting Systems Revenue (USD Million), by Country (2023-2028)
11.5.2 South America Solar PV Mounting Systems Revenue (USD Million), by Type (2023-2028)
11.5.3 South America Solar PV Mounting Systems Revenue (USD Million), by Applications (2023-2028)
11.6 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million), by Type, and Applications (2023-2028)
11.6.1 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million), by Region (2023-2028)
11.6.2 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million), by Type (2023-2028)
11.6.3 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million), by Applications (2023-2028)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List Of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Solar PV Mounting Systems Market Companies with Areas Served
Table 3 Products Offerings Global Solar PV Mounting Systems Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Solar PV Mounting Systems Revenue (USD Million) And CAGR (%) By Type (2018-2028)
Table 8 Global Solar PV Mounting Systems Revenue (USD Million) And CAGR (%) By Applications (2018-2028)
Table 9 Global Solar PV Mounting Systems Revenue (USD Million) And CAGR (%) By Regions (2018-2028)
Table 10 Global Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Table 11 Global Solar PV Mounting Systems Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Solar PV Mounting Systems Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Solar PV Mounting Systems Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Solar PV Mounting Systems Market Share (%) By Regions (2018-2022)
Table 16 North America Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Table 17 North America Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Table 18 North America Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Table 26 South America Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Table 27 South America Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Table 33 Global Solar PV Mounting Systems Revenue Market Share (%) By Type (2023-2028)
Table 34 Global Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Table 35 Global Solar PV Mounting Systems Revenue Market Share (%) By Applications (2023-2028)
Table 36 Global Solar PV Mounting Systems Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2028)
Table 37 North America Solar PV Mounting Systems Revenue (USD)By Country (2023-2028)
Table 38 North America Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Table 39 North America Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Table 40 Europe Solar PV Mounting Systems Revenue (USD Million) By Country (2023-2028)
Table 41 Europe Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Table 42 Europe Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Table 43 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Country (2023-2028)
Table 44 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Table 45 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Table 46 South America Solar PV Mounting Systems Revenue (USD Million) By Country (2023-2028)
Table 47 South America Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Table 48 South America Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Table 49 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Region (2023-2028)
Table 50 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Region (2023-2028)
Table 51 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Table 52 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List Of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Solar PV Mounting Systems Revenue Market Share (%) By Type (2022)
Figure 5 Global Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Solar PV Mounting Systems Revenue Market Share (%) By Applications (2022)
Figure 7 Global Solar PV Mounting Systems Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Solar PV Mounting Systems Market Share (%) By Regions (2022)
Figure 9 North America Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Solar PV Mounting Systems Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Figure 25 Global Solar PV Mounting Systems Revenue Market Share (%) By Type (2028)
Figure 26 Global Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Figure 27 Global Solar PV Mounting Systems Revenue Market Share (%) By Applications (2028)
Figure 28 Global Solar PV Mounting Systems Market Revenue (USD Million) By Regions (2023-2028)
Figure 29 North America Solar PV Mounting Systems Revenue (USD Million) By Country (2023-2028)
Figure 30 North America Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Figure 31 North America Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Figure 32 Europe Solar PV Mounting Systems Revenue (USD Million) By Country (2023-2028)
Figure 33 Europe Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Figure 34 Europe Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Figure 35 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Country (2023-2028)
Figure 36 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Figure 37 Asia Pacific Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Figure 38 South America Solar PV Mounting Systems Revenue (USD Million) By Country (2023-2028)
Figure 39 South America Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Figure 40 South America Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Figure 41 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Region (2023-2028)
Figure 42 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Region (2023-2028)
Figure 43 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Type (2023-2028)
Figure 44 Middle East and Africa Solar PV Mounting Systems Revenue (USD Million) By Applications (2023-2028)
Figure 45 Bottom-Up and Top-Down Approaches For This Report
Figure 46 Data Triangulation
Market Segmentation
By Location
By Technology
By Application
By Component
Region