Solar Panel Mounting Structures Market Size & Share, by Product Type (Rooftop, Ground Mounted); End-use (Residential, Commercial, Industrial); Material (High-Speed Steel, Cold-Formed Steel, Aluminium, Galvanized Iron); Thickness (0.5 to 2 mm, 2 to 3 mm, 3 to 6 mm) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 5564
  • Published Date: Nov 27, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Solar Panel Mounting Structures Market size was over USD 16.58 billion in 2024 and is anticipated to cross USD 66.68 billion by 2037, witnessing more than 11.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of solar panel mounting structures is estimated at USD 18.08 billion. The market growth is due to the increasing need for sustainability, and thus, the world today focuses on how to get a better, cleaner, and greener future. According to the International Energy Agency's (IEA) January 2024 report, the usage of renewable energy reached an estimated 507 GW in 2023, which is almost 50% higher than in 2022, and with continuous governmental support in 130+ countries. This is causing the solar panel mounting structures market to witness a substantial growth rate in the forecasted years.

In addition, solar energy generation emits less carbon dioxide into the atmosphere than traditional energy sources including coal, oil, and petroleum. Also, this sector will expand as a result of growing off-grid solar installations in emerging economies as well as increased public and private sector investments in the implementation of renewable energy sources.


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Solar Panel Mounting Structures Sector: Growth Drivers and Challenges

Growth Drivers

  • Surge in the demand for floating solar panels - With the increasing global population along with the growing economies, there is also an increasing energy demand. The increased demand for such energy creates a highly positive market environment for the geothermal energy sector, as it can provide a reliable and affordable source of energy. According to a report, global consumption increased by 69% owing to the increasing population by 47% from 1990 to 2020.

    Furthermore, floating solar panels are in high demand on floating construction sites such as rafts or pontoons that are fastened to the ground, where they are built. This kind of solar panel mounting structures method is getting more common since it makes it possible to generate solar power using water bodies like lakes, reservoirs, irrigation canals, and much more particularly in nations with limited land resources.
  • Growing implementation of smart solar panel mounting systems - Solar power systems may be monitored and managed in real-time with the help of sensors, communication devices, electronics & smart devices, and software found in smart and connected solar panel mounting systems. It is feasible to maximize power generation, enhance energy efficiency, and lower maintenance costs with this kind of technology.

    Furthermore, it is easier to incorporate smart panel systems into the current infrastructure due to developments in IoT technology and connection. This has increased the landscape potential and increased user accessibility for smart solar panel mounting structures.
  • Growing need for increased solar power generation capacity - The need for increasing solar power generation capacity leads to a rise in the number of solar power plant construction in various nations. Mounting structures play an essential role in ensuring the capacity and efficiency of the solar PV modules as the solar cell’s temperature and sunlight captivity are dependent on them.

    With an increase in large-scale solar projects, the focus is on solar panels mounting structures. As per a report, by the end of 2020, there will be 52 large-scale solar farms under construction, indicating that the large-scale solar industry is likely to grow rapidly in the next years. Therefore, the surge in the demand for increased solar power generation capacity is escalating the solar panel mounting structures market growth.

Challenges

  • Complexity of installation and maintenance of solar panel mounting structures- For optimal alignment and stability, solar panel mounting systems need to be carefully designed, engineered, and installed. Along with this, regular maintenance is also required to maximize energy production and keep structures in excellent shape. For certain users, this can be costly and time-consuming.
  • High initial installation costs may hinder the growth of the solar panel mounting structures market share
  • The sporadic nature of sunlight may affect energy production

Solar Panel Mounting Structures Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

11.3%

Base Year Market Size (2024)

USD 16.58 billion

Forecast Year Market Size (2037)

USD 66.68 billion

Regional Scope

  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • North America (U.S., and Canada)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Solar Panel Mounting Structures Segmentation

Product Type (Rooftop Mounted, Ground Mounted)

In solar panel mounting structures market, rooftop segment is likely to account for around 54% share by 2037. The segment growth can be attributed to the advantage of being easily installed and requiring less initial and maintenance commitment for both residential and commercial buildings. The rooftop mounting systems last 15-20 years on average, which is a longer lifespan. Rooftop solar panels saw tremendous growth throughout the projection period as a result of solar panels becoming more and more common in the commercial and residential sectors to meet the requirement for electricity.

Due to government incentives, homeowners favor rooftop solar installations for producing sustainable energy. Furthermore, because rooftop solar panels are higher, face direct sunlight, and are not affected by temperature variations, they are more efficient. Therefore, these factors are propelling the lucrative growth of the rooftop segment.

End-user (Residential, Commercial, Industrial)

The residential segment is set to garner a notable share shortly and is likely to remain the second largest segment in the end-user of the solar panel mounting structures market revenue share due to the main advantages of installing solar power in homes, which are lowering carbon emissions, producing clean, free electricity by harnessing the sun's plentiful energy, and eventually lowering electricity costs.

For instance, about 4.5% of the global electricity generation will be accounted for by solar PV. With its recent growth, solar PV is expected to reach installations of about 3.6 million by 2022. In the residential sector, rooftop mounting installation is typically possible due to the appropriate use of the terrace area above a residence. Furthermore, because of their low energy usage, fixed solar PV mounting systems are better to put in residences. The industry will develop as long as technology continues to progress and consumers continue to favor solar panel mounting solutions due to cheaper electricity costs.

Our in-depth analysis of the global solar panel mounting structures market includes the following segments:

          Product Type

  • Rooftop Mounted
  • Ground Mounted

          End-user

  • Residential
  • Commercial
  • Industrial

          Material

  • High-Speed Steel
  • Cold-Formed Steel
  • Aluminium
  • Galvanized Iron

          Thickness

  • 0.5 to 2 mm
  • 2 to 3 mm
  • 3 to 6 mm

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Solar Panel Mounting Structures Industry - Regional Synopsis

European Market Forecast

Europe industry is poised to dominate majority revenue share of 46% by 2037 solar panel mounting structures market share. This sector growth in the region is expected to be driven by the global shift towards renewable energy, as several nations, including Germany, Spain, and Italy, are establishing goals for solar power adoption. The market value for solar panel mounting structures is expected to be influenced as a result of the increasing number of solar power systems being built to satisfy the rising demand for clean and renewable energy.

According to a report, in the solar energy industry, 217.80 billion KWh of electricity is expected to be generated by 2024. The advancements in solar panel technology, along with the efficiency, longevity, and affordability of solar panels, result in simpler and more economical installation and upkeep of solar power systems. The market share for solar panel mounting structures is estimated to increase as a result of consumers' increasing decision to switch to solar electricity.

North American Market Statistics

The North American region will also encounter huge growth for the solar panel mounting structures market size expansion during the forecast period and will hold the second position owing to the need for renewable energy sources. People are looking for greener alternatives to traditional energy sources as they become more aware of how they affect the environment. The promotion of solar energy adoption has also been greatly aided by government regulations and incentives.

In addition, a lot of open space in the region is available for solar panel installations, including enormous rooftops and vacant land. Therefore, all these factors are contributing to the boost in the solar panel mounting structures market in the region.

Research Nester
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Companies Dominating the Solar Panel Mounting Structures Market

    • Schletter Inc
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • DSD Renewables
    • UNIRAC, Inc.
    • Mounting Solar-Kit Private Limited
    • MinebeaMitsumi Inc.
    • NTT DATA CORPORATION
    • Luxor Solar Co. Ltd
    • TS Co., Ltd.

In the News

  • Total Energies- announced it's their largest solar power plant in Paris. It is one of the largest solar power plants in the region, along with a battery energy storage system as well.
  • Six Flags Entertainment Corporation- announced the installation of a new 12.37-megawatt solar carport and energy storage system at Six Flags Magic Mountain in Los Angeles, along with the collaboration of DSD Renewables and Solar Optimum.

Author Credits:  Dhruv Bhatia


  • Report ID: 5564
  • Published Date: Nov 27, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of solar panel mounting structures is estimated at USD 18.08 billion.

The solar panel mounting structures market size was over USD 16.58 billion in 2024 and is anticipated to cross USD 66.68 billion by 2037, witnessing more than 11.3% CAGR during the forecast period i.e., between 2025-2037. The market growth is due to increasing need for sustainability, and thus, the world today focuses on how to get a better, cleaner, and greener future.

Europe industry is poised to dominate majority revenue share of 46% by 2037, due to rising usage of cloud services in the region.

The major players in the market are DSD Renewables, UNIRAC, Inc., Mounting Solar-Kit Private Limited, MinebeaMitsumi Inc., NTT DATA CORPORATION, Luxor Solar Co. Ltd., TS Co., Ltd., Japan Renewable Energy Co. Ltd., and others.
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