Photovoltaic Mounting Systems Market Size & Share, by Type (Rooftop, and Ground Mounted); Technology (Fixed, and Tracking); Components (PV Modules {Panels}, Inverters, Racking, Batteries); End-User (Residential, Commercial, Industrial, Utility) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5614
  • Published Date: Feb 06, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Photovoltaic Mounting Systems Market size is expected to reach USD  123 Million by the end of 2036, growing at a CAGR of 17% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of photovoltaic mounting systems crossed around USD 22 Million. The primary reason behind the industry growth by the end of 2036 is the increasing demand for energy across the world. For instance, the International Energy Agency (IEA) develops yearly projections about possible energy requirements utilizing several varied cases. In its 2021 document, the IEA Stated Policies Scenario anticipates the total energy requirement to rise by 21% by 2040. International need for natural gas is projected to rise by 28% and international oil demand will rise by 17% by 2050.

Another reason that will directly increase the expansion of the photovoltaic mounting systems market in the forecast period is the increasing population across the world and their adoption of energy worldwide. Moreover, the international population is projected to increase from just under 8 billion in 2022 to more than 8.5 billion in 2030 and 9.7 billion in 2050. Accelerated energy requirements come from appearing markets and growing economies. The world would require twice as much energy as it generates recently if it weren’t for constant modifications in energy effectiveness. Further, several nations are approaching natural gas and PV panels for pocket-friendly and trustworthy electrical power production that generates lower secretions than coal. Various countries utilize various kinds of energy, so it’s tough to express who utilizes the most. Canada itself utilizes a varied energy mix comprising oil, natural gas, hydroelectricity, nuclear, and more. 


Photovoltaic Mounting Systems Market
Get more information on this report: Request Free Sample PDF


Photovoltaic Mounting Systems Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

17%

Base Year Market Size (2023)

USD 22 Million

Forecast Year Market Size (2036)

USD 123 Million

Regional Scope

  • Asia Pacific (Japan, China, India, Australia, Others)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • North America (North America, Canada, Mexico)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
Get more information on this report: Request Free Sample PDF

Photovoltaic Mounting Systems Market: Growth Factors and Challenges

Market-Growth-Drivers

Growth Factors

  • Global Transition of Energy Infrastructure -The recent energy transition is essential because of the emergency of change. Whereas coal utilization rose over a century or so as an introduction to and during the Industrial Revolution, the recent energy transition requires increased measures. Recent success relies on limiting energy-associated CO2 scretions and limiting international temperature increases to within 1.5° of pre-industrial levels. Almost all sectors of activity will experience transformation, but some over others. Those sectors that cause the most amounts of greenhouse gas secretions will experience the most transformation. They comprise transportation, residential heating, heavy industry, agriculture, electricity production, and more. The energy transition is an international conversion in the manner that the world supplies and consumes energy. One main prospect of the energy transition is the substitution of fossil fuels with sustainable resources. Difficulties about the influence of fossil fuel utilization on climate change are a basic inducement for the energy transition.
  • Shortage in Fossil Fuels Across the World -The fossil fuel energy market is projected to encounter substantial difficulties and changes in the future. While there is still a substantial requirement for oil, natural gas, and coal, the industry is more and more burdened by the expansion of renewable energy sources, along with the awareness of climate change and ecological influences, with many organizations and jurisdictions spending in carbon capture and storage technologies, along with exploring substitute sources of energy. It is tough to anticipate with confidence which countries will raise their share of fossil fuels, as it relies on several factors like government policies, energy requirements, and the attainability and cost of substitute energy sources.
  • Cost-Effectiveness of Photovoltaic Mounting Systems -Solar PV is highly commutable and ranges in size from small solar home kits and rooftop installations of 3-20 kW potential, all the way to systems with potential in the hundreds of megawatts. It has democratized electricity generation. The expense of manufacturing solar panels has dropped drastically in the past decade, making them not only pocket-friendly but also frequently the cheapest type of electricity. Solar module prices dropped by up to 93% between 2010 and 2020. During the same time, the international weighted average levelized cost of electricity (LCOE) for utility-scale solar PV projects dropped by 85%.

Challenges

  • The Complex Installation Process of Photovoltaic Mounting -Solar panels are installed using photovoltaic mounting systems, also named solar module racking. But if the panels aren’t mounted perfectly, they will not remain in place. All bolts must be stiffened appropriately, and the installation must match industry standards. The panels can have a beating, so if they aren’t adequately anchored, they possibly won’t last. Multiple national and international codes are also utilized while designing such frames on ground-mounted. The permanence, dependability, and cost of the PV frame are of the greatest significance. Due attention should be taken while planning such type of structure because it is straight way influences the investment cost and execution of the PV power plant. However, in recent years, the enormous expansion of solar photovoltaic (PV) energy production as a substitute for traditional fossil fuel production has stimulated the search for effective and more trustworthy operation and management practices, since PV systems need continuous management for constant production effectiveness.
  • Shortage of Well-Read Technicians
  • Excessive Initial Installation Cost


Photovoltaic Mounting Systems Segmentation

End-User (Residential, Commercial, Industrial, Utility)

The utility segment is expected to hold 59% share of global photovoltaic mounting systems market by 2036. This growth will be noticed because of the low cost of PV panels across the world, in line with the International Energy Agency’s World Energy Outlook 2020. The 464-page prospect, released by the IEA, also describes the “extraordinarily wild” influence of coronavirus and the “highly doubtful” future of international energy utilization over the next two decades. Showcasing this doubtfulness, this year’s interpretation of the highly impactful yearly outlook presents four “pathways” to 2040, all of which notice a major increase in sustainable resources. The IEA’s primary case has 43% more solar output by 2040 than it projected in 2018, moderately because of a thorough new assessment demonstrating that solar power is 20-50% cheaper than expected. Although a quicker increase for sustainable sources and a “structural” drop for coal, the IEA expresses it is too soon to release a peak in international oil utilization, unless there is more powerful climate action. Likewise, it expresses the requirements for gas could increase by 30% by 2040 except for the policy response to global warming steps up.

Components (PV Modules {Panels}, Inverters, Racking, Batteries)

The PV modules {panels} segment in the photovoltaic mounting systems market is projected to account for 71% of revenue share owing to its increasing use to generate solar energy across the world. The power rating of solar panels is in “Watts” or “Wattage,” which is the unit utilized to calculate power generation. Nowadays, the latest and best solar panels for residential properties generate between 250 and 400 Watts of electricity. While solar panel systems begin at 1 KW and generate between 750 and 850 Kilowatt hours (KwH) yearly, bigger homes and larger households usually need to be on the higher end. A four-to-five-person household possibly requires a four-to-five KW systems.

Our in-depth analysis of the global photovoltaic mounting systems market includes the following segments:

        Type

  • Rooftop
  • Ground Mounted

        Technology

  • Fixed
  • Tracking

        Components

  • PV Modules {Panels}
  • Inverters
  • Racking
  • Batteries

        End-User

  • Residential
  • Commercial
  • Industrial
  • Utility

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Photovoltaic Mounting Systems Industry - Regional Synopsis

APAC Market Analysis

The photovoltaic mounting systems market in the APAC region will dominate the most and will have the highest revenue share of around 45% by the end of 2036. This growth will be noticed due to increasing solar electricity generation in this region. For instance, China's installed solar potential will double to 1,000 gigawatts (GW) by the end of 2026 as the globe's second-biggest economy grows to build up investment in sustainable sources, energy research company Rystad Energy composed in a note. Beijing had set an objective of raising the country's installed potential of wind and solar power to over 1,200 GW by 2030.

European Market Statistics

The photovoltaic mounting systems market in the Europe region will increase the most by the end of 2036. This growth will be noticed because of the increasing initiation of the European government. In early December 2023, the EU declared they had developed the European Solar PV Industry Alliance. The alliance will help EU nations create a strong connection between European producers and consumers of solar panels. Germany is the European nation that added the most volume of solar power in 2022 and is also home to Wacker Chemicals, one of the world’s biggest polysilicon manufacturers and one of the critical components of solar panels. Other European Nations, including Spain, Poland, and the Netherlands, have also had substantial amounts of solar installed. Comprehensive the EU projects the solar industry could raise the European GDP by €60 billion yearly and develop 400,000 new jobs.

Research Nester
Photovoltaic Mounting Systems Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Photovoltaic Mounting Systems Market

top-features-companies
    • Schletter Inc.
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Unirac Inc.
    • Solaris Technology Industry, Inc.,
    • K2 Systems GmbH
    • Quick Mount PV
    • Land Power Solar Technology Co. Ltd.
    • RBI Solar Inc
    • Mounting Systems
    • Xiamen Grace Solar New Energy Technology Co., Ltd.
    • Clenergy International (UK) Ltd.

In-the-news

In The News

December 19, 2023: Schletter Inc. delivered Austria's biggest PV roof systems. Austria's biggest PV roof project has been considered for operation on the 85,000-square-meter place roofs of Steyr Automotive. The approximately 7.5 MWp systems was installed implementing the Schletter FixGrid and ClampFit systems. Schletter Inc. was once again collaborating with the energy supplier Burgenland Energie on this project.

November 21, 2023: Schletter Inc., an international leader in the expansion and manufacturing of solar mounting systems—has accomplished a 162% year-on-year rise in profit in the ground-mount segment, touching around 50,000,000 EUR in the third quarter of 2023 regardless of the consistent market headwinds.


Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5614
  • Published Date: Feb 06, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The utilization of biofuels across the world will majorly drive the market growth of the single-axis solar PV tracker market.

The market size of the photovoltaic mounting systems market is expected to get a CAGR of approximately 17% over the forecast period, i.e., 2024-2036.

The major players in the market are Schletter Inc., Unirac Inc., Solaris Technology Industry, Inc., K2 Systems GmbH, Quick Mount PV, Land Power Solar Technology Co. Ltd., RBI Solar Inc., Mounting Systems, Xiamen Grace Solar New Energy Technology Co., Ltd., Clenergy International (UK) Ltd., Tokyo Electric Power Co Holdings Inc., Shikoku Electric Power Co. Inc., Kyushu Electric Power Co. Inc., Renova Inc.

The utility segment is anticipated to reap the largest market size with almost 59% by the end of 2036 and demonstrate substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Photovoltaic Mounting Systems Market Size & Share, by Type (Rooftop, and Ground Mounted); Technology (Fixed, and Tracking); Components (PV Modules {Panels}, Inverters, Racking, Batteries); End-User (Residential, Commercial, Industrial, Utility) - Glo Market Report Scope
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying